CANADA: McCain Foods buys Midwest Food assets
Canadian frozen food giant McCain Foods has said it has signed an agreement to purchase the assets of Midwest Food Products, including the company's major French fry processing facility in Carberry, Manitoba.
"The acquisition of Midwest is a positive step in strengthening our company in North America," said McCain Foods CEO Dale Morrison.
McCain said the completion of the purchase transaction is pending appropriate regulatory approvals. No purchase price was disclosed.
The Midwest Food Products plant employs about 400 people and produces French fries and other potato products for customers throughout North America.
"As soon as the acquisition is complete, we will begin immediately to upgrade the facility," said Arnold Park, president and CEO of McCain Foods' Canadian unit. "We plan to invest at least US$13m in plant improvements."
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