Freiberger USA Inc., Morris Plains, a 100 %-owned subsidiary of Südzucker Group, said that it acquired Richelieu Foods Inc, Braintree/Massachusetts, the largest frozen pizza producer for private label in food retailing in the USA from Centerview Capital.
The Enterprise Value is $435 million.
Richelieu produces with nearly 900 employees frozen and chilled pizza as well as sauces and dressings for the food retailing private label business in the USA. In business year 2016 revenues of $325 million were generated. The acquisition is subject to subsequent approval by the U.S. antitrust authorities.
Source: RTT News
Nestle SA has accelerated its product development process by 60% since 2016, according to the company. The faster speed to market has been achieved through a restructuring of its research and development process. Now the company is investing in various forms of artificial intelligence (AI) and machine learning to further improve its R&D process and generate better results.
German chemicals distributor Brenntag has confirmed potential takeover talks with US rival Univar Solutions and is understood to be debating the feasibility of a potential acquisition in the coming months. Univar Solutions confirms that it has received a preliminary indication of interest from Brenntag regarding a potential transaction.
Cargill has announced the acquisition of Owensboro Grain Company, a soybean processing facility and refinery located in Kentucky. The purchase of the Owensboro-based company will support Cargill’s efforts to “modernise and increase capacity across its North American oilseeds network to support growing demand for oilseeds driven by food, feed and renewable fuel markets”.
