M&As this week: Richardson International, Scandi Standard, Frutarom
Canadian agriculture and food processing company Richardson International has acquired UK-based European Oat Millers for an undisclosed sum.
The target company produces oat products such as wheat and barley flakes, in addition to extruded ingredients and products.
The biggest oat miller in North America, Richardson expects the acquisition to help expand its oat milling business.
Sweden-based chicken products company Scandi Standard has reached an agreement to acquire Manor Farm, a chicken processing firm in Ireland.
The purchase consideration for the acquisition is €94m ($106.7m), which will include cash payment and issue of six million shares of Scandi Standard.
The acquisition is expected to be completed in Q3 2017.
Flavours and speciality ingredients producer Frutarom has completed the acquisition of an 80% stake in SDFLC Brasil Indústria E Comércio (SDFLC), a taste solutions manufacturer for desserts.
The acquirer company is based in Israel, whereas the target company is based in Brazil.
Frutarom also has the option to purchase the remaining stake in the target company after 2.5 years.
Irish meat processing company ABP Food Group intends to acquire a 50% stake in Fane Valley’s meat processing business, extending the joint venture partnership between Fane Valley Co-op and ABP Food Group.