M&As this week: Unilever, Selecta Group, SHINMEI
UK-based FMCG manufacturer Unilever has signed an agreement to acquire Mae Terra, a producer of organic and nutritious food products based in Brazil.
Selecta Group, a portfolio company of private equity firm Kohlberg Kravis Roberts (KKR), has agreed to acquire the Gruppo Argenta from Motion Equity Partners Italia.
Selecta is a Netherlands-based vending and coffee services company, while Gruppo Argenta provides similar services in Italy. Motion Equity Partners Italia is a private equity business.
Selecta and KKR employed Lazard as a financial adviser, while Kirkland and Ellis, Simpson Thacher and Bartlett, as well as Ropes and Gray have been hired as legal advisers.
Motion Equity Partners has engaged Mediobanca and UniCredit Bank as financial advisers. Pedersoli Studio Legale and Linklaters will be legal advisers for the transaction.
SHINMEI plans to acquire a 33% stake in Sushiro Global Holdings from Permira Advisers and other shareholders for approximately JPY40bn ($354.8m).
SHINMEI is engaged in the production and sale of rice and food products, while Sushiro operates an automated revolving sushi restaurant chain.
SHINMEI and Sushiro are based in Japan and Permira Advisers is a UK-based investment fund.
B&G Foods, a frozen food manufacturer based in Parsippany, New Jersey, US, has acquired Back to Nature Foods for $162.5m in cash. The company is reported to have arranged funding through revolving loans under its existing credit facility.
B&G Foods is engaged in the manufacture and distribution of branded shelf-stable and frozen foods, while Back to Nature Foods produces better-for-you snack foods.
Back to Nature Foods is a joint venture between Brynwood Partners and Mondelez International. Its products are claimed to be non-GMO Project Verified, organic, and gluten-free.
The company also offers a wide range of products, including cookies, crackers and nuts, as well as low-fat and no-fat snacks under the SnackWell brand.