USA: International Multifoods completes sale of foodservice distribution business
International Multifoods Corp has announced that it has completed the sale of its foodservice and vending distribution business to Wellspring Distribution Corp., a newly formed affiliate of Wellspring Capital Management LLC, under the original terms of the agreement. In July, Multifoods announced that it had entered into an agreement to sell the distribution business to Wellspring for $180 million in cash, subject to closing adjustments, including the level of working capital (for further information on the initial agreement, just-food.com members click
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