M&As this week: Primo Broodstock, Stuart’s Foods, Ajinomoto
Primo Broodstock has reached an agreement to purchase a complete stake in TB Food from Ningbo Tech-Bank for CNY42.8m ($6.41m).
Primo Broodstock and TB Food are US-based companies, while Ningbo Tech-Bank is a Chinese company engaged in the manufacture and sale of feed products.
Stuart’s Foods has completed the acquisition of fruit and vegetable wholesaler S Clift (Grimsby) for £0.5m. Both the companies involved in the acquisition are based in the UK.
Stuart's Foods will also invest £0.5m over the next five years for renovations.
Japanese food and chemical company Ajinomoto has gained 100% ownership of KUKRE GIDA by acquiring the remaining 50% stake from Gulel Family for YTL181m ($51.39m).
Ajinomoto manufactures seasonings, cooking oils, sweeteners and amino acids, while KUKRE GIDA is a Turkey-based producer of seasonings, pickles and other food items.