Latest Deals

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Valeo Foods Group has offloaded its business in Ireland to a consortium led by a former executive. The Dublin-based group, owned by Bain Capital, said the disposal was part of efforts to focus on “sweet treats”. The company has been expanding in areas like biscuits and sweet bakery through M&A. Valeo said Hilliard Lombard, who was the company’s MD in the 2010s, headed the group that has bought the assets. Terms were not disclosed. Brands changing hands include Batchelors baked beans and Chef beetroot.

Chobani has snapped up a plant in the US from soft-drinks group Keurig Dr Pepper, which is also selling its shares in the yogurt maker. Keurig Dr Pepper is offloading its stake in Chobani back to the business for $800m. Separately, Chobani will buy a plant and warehouse in Pennsylvania, for around $125m. Chobani said it will invest about $1.2bn over the next five years into the 1.5 million-square-foot site.

US-based meat company OSI Group is to merge its Australian operations with local poultry business Cordina Group. The deal will see investment firm PAG divest its majority stake in Cordina, which will then be combined with OSI’s local subsidiary Turosi. OSI Group president and COO Mark Richardson said: “We believe the business will be well positioned to better serve customers and pursue its next phase of growth across Australia.”

Del Monte Corp. has agreed to form a venture in China for the sale of fresh-cut fruit products. The company has inked a partnership with local fruit business Riverking (Shanghai) Agricultural Technology Development Co. Shanghai-headquartered Riverking has 11 distribution sites across China. Del Monte president and COO Mohammed Abbas said the venture “marks a significant step into China’s fresh-cut fruit market, giving Del Monte a strong platform to deepen our foothold across Asia”.