Mergers & Acquisitions & Joint Ventures – food industry data

Mergers & Acquisitions & Joint Ventures – food industry data – Illustration

Mergers & Acquisitions & Joint Ventures

Buyer Target Country Remarks

Parmalat NOM Italy/ Italian dairy giant Parmalat

Austria has purchased a 25% blocking

minority stake in the Lower

Austrian dairy group NOM,

bringing to an end speculation

there would be an `Austrian

solution’. Parmalat and the

Raiffeisen-Holding

Niederosterreich of Vienna,

the majority holder of NOM,

have announced that they have

concluded a strategic

partnership.

Kerry Cremonini Ireland/ Kerry Group, the Dublin-based

Group Spices Italy global food and food

ingredients corporation, has

paid 3m [euro] for the spices

and flavourings division of

Cremonini, a major Italian

company in the meat trade. The

acquisition was carried out

through its Italian subsidiary

Kerry Gasparini.

Unilever Rashidi UK/Nether- Three subsidiaries of

sub- EL Mizan lands/ Anglo-Dutch consumer goods

sidiaries Egypt giant Unilever have offered to

purchase a 49% stake in

Egyptian confectionery firm

Rashidi El Mizan, a move which

would give Unilever complete

control of the confectioner.

Pescanova Ultra- Spain Pescanova has acquired 100%

congelados ownership of compatriot firm

Antartida Ultracongelados Antartida,

which specialises in cooked

and frozen prawns. No

financial details of the

acquisition were disclosed,

but Ultracongelados Antartida

has annual production of

around 8 000 tonnes and last

year generated some 60m [euro]

in revenue.

Macrae’s Albert UK Receivers KPMG have sold off

Fisher the final remnants of the

units Albert Fisher frozen food

empire following the completed

sale of sites in Fraserburgh

and Peterhead in Scotland.

KPMG said in selling each of

the former Albert Fisher sites

as going concerns, it has

secured over 3 300 jobs.

Danone Shape France/UK French dairy, water and

biscuit giant Danone has added

the Shape brand of yoghurts to

its portfolio, having secured

a 32m [pounds sterling] (50.1m

[euro]) agreement with

UK-based convenience food firm

Uniq. The Shape division will

bolster Danone’s share of the

UK yoghurt market. Job losses

are anticipated, as the

agreement involves the Shape

brand, but not its production

site in Swindon.

Konzum Alastor Croatia Croatian retail chain Konzum,

part of the Agrokor

corporation based in Zagreb,

has this month completed the

acquisition of Alastor, the

third largest Croatian food

retailer based in Osijek.

Raiffeisen Stollwerck Austria/ Raiffeisen CEE Private Equity

CEE Budapest Germany/ Fund of Equity Austria has

Private Hungary bought German confectionery

Fund company Stollwerck’s Hungarian

arm Stollwerck Budapest. The

purchase ends a stormy legal

battle between Raiffeisen and

Stollwerck. Stollwerck

originally planned to sell

its Hungarian unit to US

food giant Kraft Foods as part

of a sale of its Russian,

Polish and Hungarian

subsidiaries to Kraft, but

Raiffeisen struck a deal with

one of the Hungarian unit’s

minority owners, giving the

Austrian venture-capital

company pre-emption rights to

Stollwerck Budapest.

Wimm-Bill- Depsona Russia Wimm-Bill-Dann Foods, one of

Dane Foods Russia’s top juice and dairy

product makers, has acquired

5.5% of the stock in

Tula-based juice-producer

Depsona. The Depsona juice

plant, owned by Fiat, opened

for business back in 1997.

The enterprise turns output

more than ten juice and nectar

products.

Dairy Food and New New Zealand dairy firm Dairy

Foods beverage Zealand Foods has announced it will

divisions merge its food and beverage

divisions as part of its

restructuring at the firm. Up

to 900 jobs could go as a

result of the merger.

GrainCorp/ Goodman US/ Australian food group Goodman

Cargill Fielder Australia Fielder has finally announced

unit the sale of its flour milling

and mixing business following

drawn out negotiations.

GrainCorp and Cargill are

acquiring the assets as part

of a joint venture. The deal,

worth some AU$200m (110m

[euro]) will make GrainCorp/

Cargill one of the biggest

flour millers in Australia.

Campina Glucona Nether- Campina and Avebe have signed

unit lands a letter of intent regarding

the sale of Glucona’s

pharmaceutical activities.

Glucona is a wholly owned

subsidiary of Avebe. Campina

said its new acquisition would

sit well alongside its other

activities at its food

division DMV International.

Horti- Apple and UK The UK’s Apple and Pear

cultural Pear Research Council is to be

Development Research wound up and merged with the

Council Council Horticultural Development

Council with effect from 1

April 2003. A report suggested

that a separate development

council for apples and pears

was unsustainable, and a

merger with the Horticultural

Development Council was the

best option.

Snow Brand Zen-noh/ Japan Beleaguered Japanese dairy

Zenrakuren/ firm Snow Brand has released

Norinchukin details of its new joint

Bank venture project. The venture,

called Nippon Milk Community

sees Snow Brand hold a 30%

stake in the project, with

Zen-noh holding 40%,

Zenrakuren holding 20% and

Norinchukin Bank holding 10%.

COPYRIGHT 2002 Agra Europe Ltd.

COPYRIGHT 2002 Gale Group