Brazil is currently the world’s fifth largest frozen pre-fried potato market, and one of the company’s major global focuses. The $100 million plant is one of several recent investments aimed at strengthening the brand’s expansion strategy in the Brazilian market.
In May, the company acquired 70% of Brazilian potato products company Serya. Last year, the company acquired 49% of Forno de Minas, which specializes in bread snacks and appetizers.
With the new plant, McCain said it is now focusing on its main growth category: frozen french fries.
The project will be located in the city of Araxa and is due to be opened in early 2021. It is expected to generate 150 direct jobs, 450 indirect jobs and positively impact approximately 450 farmers, according to the company.
“With the construction of the new factory in Brazil, McCain will enhance its distribution, create efficiencies in supply and consequently improve its service level and product offering in the local market,” said Aluizio Neto, general director of McCain in Brazil.
By Sam Danley
Source: Food Business News
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.