M&As this week: Hui Family and Archstone Investment, Agropur, Creation Gardens
Hui Family and Archstone Investment have acquired a 51% stake in Bindaree Beef (Bindaree Beef Group) from JR McDonald.
The acquisition is estimated to be worth between A$100 and A$150m ($79.13m and $118.69m).
Bindaree Beef is an Australian meat processor and exporter, while Archstone Investment is a China-based investment firm owned by Hui Wing Mau.
Canadian dairy co-operative Agropur has finalised an agreement to acquire the remaining 50% stake in its joint venture Ultima Foods, which is co-owned by Agrifoods International.
Agropur aims to increase its product range in the fresh dairy market through the transaction.
Ultima Foods owns iögo and Olympic brands of yoghurt and operates plants in Granby, Quebec, and Delta, British Columbia.
American food service distributor Creation Gardens has acquired Bluefin Seafood (Bluefin), a provider of seafood and customer service to chefs and restaurants based in Kentucky.
Bluefin expects to increase its product portfolio and further strengthen its presence in Kentucky, Indiana and Ohio through the acquisition.
In spite of becoming a part of the Creation Gardens family under the acquisition, the Bluefin personnel will continue to work in their existing roles.
Mexico-based refrigerated food company Sigma Alimentos has acquired the remaining 51% stake in Romania-based packaged meats and ready-to-eat (RTE) meals provider Caroli Foods Group.
Through its subsidiary, Sigma intends to expand its operations in Eastern Europe through the acquisition.
Caroli’s plant in Pitesti produces more than 200 packaged meat products in Romania under local brands such as Caroli, Sissi, Campofrio and Primo.