BRF has agreed to divest its 91.89% stake in QuickFood to Marfrig for $60m.

Both firms have also signed a five-year partnership agreement for the production of beef patties, meatballs, kibbeh and other products at the Várzea Grande facility.

The deal value is R$334m ($86.3m), of which R$234m ($60m) is related to the assets sale in Argentina, while the remaining refers to the assets sale in Mato Grosso.

The transaction will enable both firms to develop new beef patty lines. Marfrig will produce patties and other beef products at Várzea Grande plant, which will be available under the BRF’s brands.

Rabo Participaties has acquired a 40% stake in V&S Food Specialist (V&S) for an undisclosed amount.

Based in the Netherlands, V&S is a producer of hand-made satay, ethnic and vegetarian snacks.

The transaction enables V&S to fortify its position and focus on product development, as well as potential acquisitions.

Grace Foods (USA) Inc intends to acquire a 49% stake in Majesty Foods Inc for an undisclosed amount.

Grace Foods is a subsidiary of GraceKennedy Limited, while Majesty Foods is a patty and empanada producer. Both companies involved in the transaction are based in the US.

Grace Foods will outsource its factory operations including the production of frozen Hispanic and Caribbean products to Majesty Foods.

Fonterra intends to sell its ice cream brand Tip Top.

Based in New Zealand, Fonterra is a dairy nutrition company owned by 10,000 farmers and their families.

The transaction enables Fonterra to reduce its debt levels by NZ$800m ($549m) by the end of current financial year.

“The transaction enables Fonterra to reduce its debt levels by NZ$800m ($549m) by the end of current financial year.”

The initiative, which is a part of Fonterra’s portfolio review, will also give back the complete ownership of the Darnum plant to Beingmate by the end of December.

Fonterra has also signed a multi-year agreement with Beingmate for supplying ingredients.

Lakeview Farms has completed the acquisition of Tribe Mediterranean Foods for an undisclosed amount.

Lakeview Farms is a producer and distributor of refrigerated desserts, dips, seafood salads and spreads, while Tribe Mediterranean is a preservative-free prepared hummus products manufacturer.

The transaction enables Lakeview to enter the $800m hummus segment through an established national brand.

Both companies involved in the transaction are based in the US.

Royal FrieslandCampina has completed the acquisition of Millán Vicente for an undisclosed sum.

Based in the Netherlands, Royal FrieslandCampina is a multi-national dairy co-operative, while Millán is a cheese co-packing and distribution company based in Spain.

The transaction enables Royal FrieslandCampina to fortify its presence as a cheese supplier in Spain and Portugal.

Royal FrieslandCampina will combine Millán Vicente with its Iberian business.

Ferrero intends to acquire Campbell Soup’s international business, including its biscuit brand Arnott’s, for more than $2bn.

Based in Italy, Ferrero is a producer of branded chocolate and confectionery products.

Campbell initiated the process to sell its Campbell International and Campbell Fresh business units in August 2018.

Rothschild will provide financial advisory services to Ferrero for the transaction.

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