Latest Deals
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Marfrig, BRF outline plan for Brazil meat merger
Marfrig Global Foods and BRF have proposed a plan to merge, which would create a rival to fellow Brazil meat giant JBS but with much lower revenues. Separate board meetings will be convened on 18 June to “deliberate on the merger”. If approved, Marfrig would become MBRF Global Foods Company. Marfrig is already BRF’s largest shareholder, holding a 50.49% interest in 2024, according to BRF’s annual report.
Allied Bakeries owner ABF confirms talks with Hovis backer Endless
Associated British Foods is in talks with private-equity firm Endless as the UK group weighs up the future of domestic bread arm Allied Bakeries. ABF confirmed the two sides are discussing a “potential transaction”. The Twinings tea and Patak’s sauces owner has put Allied Bakeries up for review amid a “very challenging market”. UK private-equity firm Endless has owned Allied Bakeries rival Hovis since 2020.
Chobani acquires US frozen-foods maker Daily Harvest
US-based yogurt and creamers maker Chobani has bought local frozen-foods business Daily Harvest. Founded in 2015, Daily Harvest sells single-serve products, including smoothies, breakfast bowls and savoury meals. Set up as a direct-to-consumer business, Daily Harvest still sells products through its website but also through retailers including Target, Kroger and Wegmans. The deal is Chobani’s latest move to broaden its product portfolio via M&A. In December, it acquired US coffee business La Colombe for $900m.
Nestlé takes minority stake in India’s Drools Pet Food
Nestlé has bought a minority stake in India’s Drools Pet Food. Financial terms were not disclosed but Nestlé said Drools will remain “strategically as well as operationally” independent. Drools describes itself as India’s “first home-grown pet-food brand”. In 2023, private-equity firm L Catterton acquired a stake in Drools, which makes dog and cat food under brands including Drools and Kitty Yum.
