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Takeovers, disposals, mergers and MBOs: the latest in food M&A

“60% of the Somerfield acquisition will be divested” - PennycookUPDATE: UK: Co-op to sell 60% of Somerfield estate in convenience drive

17 April 2014

The Co-operative Group will sell around 60% of the space it acquired as part of the 2009 acquisition of Somerfield as the embattled UK grocer increases its focus on its core convenience estate.

US: Acquisitive Post Holdings swoops for Michael Foods

17 April 2014

Acquisition-hungry US food group Post Holdings has today (17 April) announced its biggest takeover - an agreement to buy egg-to-dairy supplier Michael Foods for US$2.45bn.

MOROCCO: Investor Abraaj looks to accelerate growth at candy firm Kool Food

17 April 2014

Investment firm Abraaj Group has indicated it plans to support an "ambitious investment plan" to drive growth at newly-acquired Moroccan chocolate group Kool Food.

just the facts - Post Holdings' M&A spree

17 April 2014

It is two years since US food group Ralcorp Holdings spun off branded breakfast cereal maker Post Holdings. And the Grape Nuts owner has, through a number of acquisitions, rapidly built a broader business designed to diversify away from a cereal market in the doldrums. just-food runs through the deals.

Quote, unquote: just-food's week in words

17 April 2014

Tesco's full-year results proved disappointing, as expected, and CEO Bill Stritz has said online retailing has played a huge part. Elsewhere first quarter results were out and Co-op saw heavy losses. It has now decided to get rid of some of the Somerfield stores and focus on its convenience offering. There were developments on the Michael Foods acquisition with Post Holdings announcing it had taken over the firm in a US$2.45bn deal. Other acquisitions this week included Daelman's purchase of UK firm Fabulous Bakin' Boys and PE firm Abraaj's acquisition of North African confectioner Kool Foods.

US: High commodity costs weigh on Michael Foods

17 April 2014

US egg-to-dairy supplier Michael Foods, which looks set to be taken over by Post Holdings, has indicated pressure from commodity prices has affected its first-quarter EBITDA.

NEW ZEALAND: Turners & Growers acquires Apollo Apples

16 April 2014

New Zealand produce firm Turners & Growers has acquired vertically integrated apple supplier Apollo Apples in a deal that could value the group at as much as NZ$31.15m (US$26.79m).

NETHERLANDS: Wessanen sells snacks unit Izico to PE firm Egeria

16 April 2014

Dutch food group Wessanen has announced the sale of Benelux snacks unit Izico to local private-equity firm Egeria in a deal worth EUR68m.

UK: Bart expands in wet ingredients with OTP Foods buy

15 April 2014

UK herbs and spices supplier The Bart Ingredients Co. has decided to expand its wet ingredients business with the acquisition of local firm OTP Foods.

GREECE: Carrefour franchisee to add 42 stores to portfolio

15 April 2014

Carrefour's Greek franchisee Marinopoulos has announced its intention to acquire 42 stores of the Larisa Super Market chain.

NETHERLANDS: Daelmans acquires Fabulous Bakin' Boys

14 April 2014

Dutch bakery group Daelmans has announced the acquisition of UK cake maker Fabulous Bakin' Boys.

US: Tyson, Post "in running" for Michael Foods

14 April 2014

Tyson Foods and Post Foods have reportedly been short listed as possible buyers in the sale process for US protein group Michael Foods.

Quote, unquote: just-food's week in words

14 April 2014

Food retailers eyeing India would have been surprised to hear the BJP political party, tipped to lead the country's next government, publish a tough stance on foreign investment in its retail sector. Nestle CEO Paul Bulcke hinted the food giant could be looking at further disposals and Wal-Mart said more affordable organic groceries would be available in the US after a tie-up with the recently-revived Wild Oats brand.

SPAIN: Deoleo board backs sale of olive oil firm to CVC

11 April 2014

The board of Spain-based olive oil group Deoleo has agreed to sell the company to UK private-equity firm CVC Capital Partners.

BRAZIL/UAE: BRF ups stake in UAE's Federal Foods

11 April 2014

Brazilian food giant BRF has upped its stake in Federal Foods, a manufacturer based in the United Arab Emirates.

SPAIN: PE firm CVC tables "best bid" for Deoleo

10 April 2014

Private-equity group CVC Capital Partners has made the best takeover offer for Deoleo, the Spanish olive oil group has said.

Deal or no deal: Analysts divided on Dorset Cereals sale

10 April 2014

Toward the end of last week Kellogg, Weetabix and Associated British Foods were all named as potential suitors looking to buy UK cereal brand Dorset Cereals from Wellness Foods. Hannah Abdulla looks at where Dorset Cereals could next end up.

JAPAN/MALAYSIA: Asahi to buy Etika dairy assets

10 April 2014

Japanese food and beverage giant Asahi has struck a deal to buy a range of dairy assets in south-east Asia from Singapore-listed Etika International Holdings.

SWITZ/US: Chocolat Frey takes "majority" stake in SweetWorks

10 April 2014

Swiss chocolate maker Chocolat Frey has acquired a majority stake in US confectioner SweetWorks.

UK: Genius secures "significant investment" from PE firm Verlinvest

9 April 2014

UK gluten-free firm Genius Foods has confirmed a "significant investment of millions" from private-equity firm Verlinvest.

UK/IRELAND: Rowse honey buy to boost Valeo's UK presence

9 April 2014

Irish food group Valeo Foods has acquired Rowse honey in the hope it will bolster its presence in the UK.

KUWAIT: Al-Kharafi reportedly eyeing Americana sale

8 April 2014

Middle East food manufacturer Americana Group is reportedly being touted for sale by its majority shareholder.

CROATIA: Podravka to buy Agrokor canned meats unit

8 April 2014

Croatian food and drink group Podravka has struck a deal to buy a canned meats unit from a subsidiary of local manufacturer and retailer Agrokor.

UK: Weetabix coy on "bid" for Dorset Cereals

7 April 2014

Weetabix has refused to "confirm or deny" reports it is one of the suitors looking to buy UK muesli manufacturer Dorset Cereals.

UK: The Co-op secures leases for 54 pub sites from NewRiver Retail

7 April 2014

UK retailer The Co-operative Group has struck a deal for leases to 54 sites from AIM-listed real estate firm NewRiver Retail.

Editor's choice: the highlights on just-food last week

7 April 2014

Unilever's business in South Africa was in the spotlight this week after it emerged its offices were raided as part of a probe into collusion. Elsewhere, there were two notable M&A deals in dairy, with Arla Foods looking to merge with Belgium-based EGM Walhorn and Lactalis's Parmalat bolstering its business in Australia with the acquisition of Harvey Fresh.

Quote, unquote: just-food's week in words

7 April 2014

This week, Tesco CFO Laurie McIlwee ended weeks of speculation over his future after handing in his resignation. Elsewhere, Kellogg was one of the three manufacturers linked to the rumoured sale of Dorset Cereals and Arla announced a proposed merger with EGM Walhorn.

UK: Kellogg, Weetabix, ABF "eye Dorset Cereals"

4 April 2014

Kellogg, Weetabix and Associated British Foods are reportedly eyeing UK cereal business Dorset Cereals.

US: Specialty Brands to be next acquisition for B&G Foods

4 April 2014

US food group B&G Foods is to make another acquisition after striking a deal to buy margarine-to-soup manufacturer Specialty Brands of America from private-equity firm American Capital.

UK: Value retailer B&M eyes investment in Germany's JA Woll Handels.

3 April 2014

UK variety retailer B&M has confirmed it is looking to acquire a majority stake of German discount firm JA Woll Handels.

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