M&As this week: Goldman Sachs Group, BiteSquad.com, Saudia Dairy & Foodstuff
The Goldman Sachs Group, a US-based company engaged in investment banking, securities and investment management, has invested $30m to acquire a 20% stake in South Korean company SUN-IN. The investment was made through Goldman Sachs’ Asian private-equity arm.
Founded by Hugo Lee, SUN-IN is engaged in producing and supplying bakery and food ingredients such as non-dairy whipping cream, bakery ganache and fruit filling, bakery premix, and non-melt icing sugar.
Online and mobile food ordering and delivery services provider BiteSquad.com has completed the acquisition of 2 Dollar Delivery, which is engaged in providing restaurant food and catering delivery services.
In a different transaction, the company has also acquired restaurant food delivery services company, 864ToGo.
All the companies involved in the deal are based in the US.
Saudia Dairy and Foodstuff will acquire a controlling stake in Mlekoma, as well as its subsidiaries Foodexo and Mlekoma Dairy for approximately SAR120m ($31.9m).
Based in Saudi Arabia, Saudia Dairy and Foodstuff is engaged in the manufacture and supply of dairy products, while Mlekoma is a Polish company focused on the production and sale of milk products, as well as semi-finished products.
A fund managed by United Arab Emirates-based private equity firm, The Abraaj Group, has acquired a majority stake in QBCo.
Based in Columbia, US, the target company is a food products manufacturer.