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Soft-drinks major Refresco buys SunOpta in plant-based push
Refresco is to buy US food-and-beverage group SunOpta in a bid to bolster its business in the plant-based drinks market. Under the terms of the deal, Refresco, which manufactures a range of soft drinks, has agreed to pay $6.50 a share. According to Morgan Stanley, which advised Refresco on the deal, the price implies an equity value of approximately $829m and an enterprise value of around $1.1bn for SunOpta.
2 Sisters owner expands poultry presence with Germany acquisition
The owner of UK private-label poultry major 2 Sisters Food Group has acquired German peer Heidemark. Ranjit Singh Boparan has struck the deal through his investment vehicle Boparan Private Office (BPO) for an undisclosed sum. Heidemark, a family-owned turkey and chicken processor based in Ahlhorn, Lower Saxony, will become part of Storteboom Food Group, which is also owned by BPO.
Saputo sells control of Argentina unit to Grupo Gloria
Saputo is to sell an 80% stake in its Argentina dairy business to Grupo Gloria, handing control of the unit to the Peru-based group. Canada-headquartered Saputo will keep a 20% holding in the operation, Molfino Hermanos, which runs two production sites and owns local brands such as La Paulina, Ricrem and Molfino. Saputo is selling also its commercial office in Brazil to Grupo Gloria.
Cerealto offloads pasta assets to Cerealis
Cerealto, the Spanish private-label manufacturer, has agreed to sell its pasta business to Portuguese agri-food group Cerealis. The deal includes the associated manufacturing site in Venta de Baños in central Spain. Cerealto said the sale fits with its decision to focus on its “core” snacking and breakfast categories, where it sees the “greatest potential for its future growth”.
