Food and Beverage M&A Has a Sweet Summer 2014
J.M. Smucker Co. in August signed an agreement to acquire Sahale Snacks Inc., a privately held company in Seattle. Sahale makes premium, branded nut and fruit snacks. Sahale's net sales are about $50 million.
ConAgra Foods in July paid $93 million for Chinese potato processor TaiMei Potato Industry Ltd., with a plant in Shangdu, Inner Mongolia. "This acquisition expands ConAgra Foods’ Lamb Weston operations in a market that has growing demand for frozen potato products," the company said. The acquisition will allow the Lamb Weston unit of ConAgra to produce mashed potatoes and frozen french fries within China to meet growing demand from foodservice operators there.
Swiss chocolate manufacturer The Lindt & Sprüngli Group in July revealed an agreement to acquire Russell Stover Candies Inc., Kansas City, Mo., which includes the Whitman's brand. "This will greatly complement Lindt & Sprüngli’s existing premium chocolate portfolio in the world’s biggest chocolate marketplace," the companies said. Lindt & Sprüngli already owns the Ghirardelli brand.