Brazil’s JBS SA has agreed to sell its feed lots in Canada and an adjoining farm to MCF Holdings Ltd for $40 million, the company said in a securities filing on Friday.
According to the terms of the agreement JBS’ subsidiary Food Canada Inc. signed, MCF will continue to supply cattle to JBS Canada’s unit in Brooks, the filing said. On June 20, after its controlling shareholder paid a record fine for involvement in corruption, JBS announced the intention to sell $1.8 billion in assets, including its U.S. cattle feeding operation.
By Tatiana Bautzer
Source: Reuters
McCain Foods has completed the acquisition of Irish plant-based frozen food manufacturer Strong Roots. The acquisition follows McCain and Strong Roots’ strategic partnership, which began in 2021 and resulted from a $55 million investment.
Cargill partners with Voyage Foods to scale up alternatives to cocoa-based products to meet consumers’ indulgence needs. The commercial partnership will also provide food manufacturers with nut spreads produced with no nut or dairy allergens used in the recipe formulation.
L’Occitane International owner Reinold Geiger is reportedly close to taking the company private in a deal with Blackstone. The French skin care company’s filing halted trading of its Hong Kong-listed shares this week. This is the second time in months that the Australian billionaire has attempted a buyout.
