USA: Vestar becomes majority shareholder in Agrilink with completion of deal
Rochester, NY-based Agrilink Foods, a manufacturer and marketer of frozen vegetables, and investment firm Vestar Capital Partners have announced the completion of a US$175m equity investment in Agrilink by affiliates of Vestar. The change in control transaction, originally announced on 21 June 2002, values Agrilink at about US$800m. Agrilink had been a wholly-owned subsidiary of Pro-Fac Cooperative, a 500-member grower cooperative which will continue to hold a significant minority interest in Agrilink.
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