Kronos Foods

Leading Mediterranean food manufacturer and distributor Kronos Foods has been acquired by private equity firm Grey Mountain Partners for an undisclosed sum.

Based in Illinois, US, Kronos Foods offers gyro meat, pita, flatbread, filo products, hummus and sauces to food service markets in the US and Canada.

Rhodes Food Group Holdings will acquire instant food producer Pakco for R200 million ($14.61 million) from its shareholders to grow in the dry packed foods market.

Based in Durban, Packo is a producer and retailer of spices, condiments, instant meals and desserts in dry packed, bottled and canned formats.

The transaction will be effective from 1 January 2017 and is subject to due diligence process and competition approval.

SCI Ingredients Holdings (SCI) and its wholly-owned subsidiary, Fleischmann's Vinegar Company, has been acquired by Green Plains in an all cash transaction for $250 million, subject to certain post-closing adjustments.

Fleischmann's Vinegar Company is the world's biggest manufacturer and supplier of food-grade industrial vinegar, while Green Plains is a producer, marketer and distributor of ethanol fuel.

According to the terms of the transaction, a definitive stock purchase agreement has been reached between Green Plains and the selling shareholders of SCI.

Joy Cone Company has acquired Baking Company, a producer and marketer of ice cream cones and sleeves, to boost its business in North America.

Joy Cone Company is a leading ice cream cone manufacturer and also offers cake cones, sugar cones, waffle cones and bowls, while BoDeans Baking Company is a well known brand in novelty ice cream cone, wafer and inclusion markets.

"Joy Cone Company has acquired Baking Company, a producer and marketer of ice cream cones and sleeves, to boost its business in North America."

Joy Cone has also acquired Mexican cones and rolls producer, Alimentarios Y Tecnica S. De R.L. De C.V. (operating as Altesa), which is a subsidiary of BoDeans Baking.

Jeraci Food Distributors (Jeraci Foods), a family-owned Italian specialist food distributor, will be acquired by US Foods in a transaction expected to be completed on 7 October.

Jeraci Foods will continue to operate from its current location until the end of the year, after which it will move to US Foods’ location in Perth Amboy, New Jersey, US.

US Foods is a food company and a leading foodservice distributor that hopes to expand in the Italian independent restaurant and pizzeria segment through the transaction.


Image: Kronos Foods specialises in Mediterranean cuisine and offers gyro meat, pita, flatbread, filo products, hummus and sauces. Photo: courtesy of Fæ.