M&As this week: Leroy Seafood Group, JSF Holdings, Cargill

Norway-based seafood producer and distributor Leroy Seafood Group will acquire a 64.4% stake in Havfisk in order to boost its business in the white fish segment in Europe and gain access to approximately 100,000t of white fish.

Leroy Seafood Group will purchase the shares of the Norwegian seafood company from Aker Capital AS, Aker Capital II AS and Fausken Invest AS for a consideration of Nkr1.98bn ($238.3m) in an all cash transaction.

According to the deal, Leroy will purchase 53.5 million shares at a price of Nkr36.50 ($4.37) a share directly from Aker Capital and Aker Capital II and 1.03 million shares at a price of Nkr36.50 ($4.37) a share from Fausken Invest.

The company had earlier purchased Norway Seafoods Group in a Nkr62.29m ($7.46m) deal from Aker Capital and Aker Capital II.

India-based ice cream maker JSF Holdings has announced plans to sell its minority stake in a deal that is expected to raise approximately Rs10,000m ($148.20m).

The Cochin-based company sells ice creams under the Uncle John, Lazza and Skei brands.

Five Star Custom Foods, a food producer and custom food manufacturer, will be acquired by Cargill in a deal that is expected to be completed later this year.

According to the terms of the acquisition, Cargill will acquire the company’s facilities in Fort Worth, Texas, and Nashville, Tennessee, US.

The acquisition is part of Cargill’s move to strengthen its cooked protein portfolio, improve its supply chain efficiency and innovate its offerings.

Wendy’s Japan will acquire Japanese fast-food restaurant chain, First Kitchen Co., from Suntory Holdings to expand its business in Japan in a deal that is expected to be completed by the end of this month.

The fast-food hamburger chain will acquire 136 restaurants and will operate First Kitchen’s existing stores under the existing brand name. A majority stake in Wendy’s Japan was acquired by private equity firm The Longreach Group to complete the acquisition of First Kitchen.

Ebro Foods will increase its share in Italian rice product company Riso Scotti to boost its business in the rice segment and enhance its product offering.

An additional 15% stake will be purchased by Ebro Foods for a consideration of approximately €13.5m ($15.04m) to increase its holding to 40%.