Osem Investments has confirmed that it will take over US-based Tribe Mediterranean Foods Co. for US$57m.
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The Israeli food maker told just-food that it will use its own funds and external funding to finance the purchase. It has also ruled out substantial investments in Tribe in the near future.
Backed by major shareholder Nestlé, Osem’s acquisition paves the way for the company to develop its presence in North America’s chilled salad market.
The deal, however, is subject to regulatory approval.
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