M&As this week: Headwater Food Hub, Glenalta, Cherkizovo Group

Headwater Food Hub has announced its plans to merge with Crooked Carrot to transform New York’s food system and develop it into a locally sustainable food system.

The merged entity will bring together a network of farmers, producers, partners, customers and leadership teams.

Based in the US, Headwater Food Hub is a food product supplier, while Crooked Carrot is a food processing business.

Glenalta has entered a merger agreement with CFT through a reverse takeover transaction.

CFT’s shares will be listed on the Italian Alternative Investment Market (AIM Italia) with a free float interest of 51.51% of CFT’s share capital, which will enable the company to raise finance to support its business operations.

Sayenko Kharenk served as an advisor for the merger agreement.

Based in Italy, Glenalta is an acquisition company organised and managed by Borsa Italiana, while CFT is a designer, engineer, manufacturer and supplier of food processing and packaging machinery for the food and beverage industry.

Cherkizovo Group has signed a letter of intent to acquire Altaisky Broiler.

Based in Russia, Cherkizovo is an agricultural-based industrial group, which is also involved in the processing of meat, poultry and pork.

Altaisky Broiler is one of the biggest producers of poultry in Russia.

The acquisition aims to help Cherkizovo expand its business operations and gain access to the Siberian market. It also aims to strengthen Cherkizovo’s position in the poultry market and increase its domestic production share to 12%.

Pacific Ventures has signed a non-binding letter of intent (LoI) to acquire an undisclosed food distribution company located in the eastern coast of US.

Based in the US, Pacific Ventures is an investment group that focuses on the expansion of consumer products, food, beverages and alcohol-related industries.

It also operates a distribution business named SnöBar.

Pacific Ventures’ subsidiary Royalty Foods Partners also announced a separate acquisition of San Diego Farmers Outlet, a US-based retailer and wholesale distributor of food, beverages and other products based in the US.

Lesaffre has purchased Delavau Food Partners, a US-based producer of baking ingredients.

Lesaffre is a French yeast manufacturer. The acquisition is expected to help the company to strengthen its capabilities by utilising the custom formulation and baking development centre of Delavau Food Partners, located adjacent to the Rutgers University, New Jersey.

The acquisition is also expected to help Lesaffre expand its nutrition and health segment and strengthen its position in the yeast extract market.