FDBusiness.com

Bonduelle Completes $409 Million US Acquisition

 Breaking News
  • Orkla Moves into New HQ Orkla, the Nordic region’s largest branded consumer goods company, has moved into new headquarters in Oslo, Norway. The move marks a new era in the company’s history, with Orkla’s businesses in Norway now assembled under one roof. More than 900 Orkla employees are based in the new office premises. “The building we are now moving into is [...]...
  • New Heads For Carlsberg Group’s European Businesses Lars Lehmann has been appointed as Executive Vice President (EVP) for Carlsberg Group’s Eastern European region and as a member of the global brewer’s Executive Committee (ExCom). He will replace Jacek Pastuszka, who will change from EVP Eastern Europe to Western Europe, while current Western Europe EVP Chris Warmoth reverts to Group Strategy as EVP. Effective [...]...
  • Rising Prices Drive Irish Grocery Sales Growth The latest figures from Kantar Worldpanel show the Irish grocery market grew by 3.5% in the 12 weeks to 24 February 2019, putting the sector on a solid footing as the UK finalises preparations to leave the EU. After a prolonged period of deflation, an upward trajectory in grocery prices is making a significant contribution [...]...
  • New EU Rules to Ensure Fairness in the Food Supply Chain The European Parliament has approved a new set of EU rules that will blacklist practices, such as late payments for delivered products, late unilateral cancellations or retroactive order changes, refusal by the buyer to sign a written contract with a supplier and the misuse of confidential information. Threats of retaliation against suppliers, for instance delisting [...]...
  • Mondelēz International Invests in Prebiotic Functional Snacks Mondelēz International has taken a minority investment in Uplift Food, a US-based early-stage start-up focusing on prebiotic functional foods. This is the first venture investment the company is making as part of SnackFutures, the company’s innovation and venture hub aimed at unlocking snacking growth opportunities around the world. A key pillar of the company’s consumer-centric growth [...]...

Bonduelle Completes $409 Million US Acquisition

Bonduelle Completes $409 Million US Acquisition
March 23
14:59 2017

Bonduelle, the world leader in ready-to-eat vegetables, present in canned, frozen, fresh cut and delicatessen, has completed its $409 million acquisition of Ready Pac Foods, the US-based producer of convenience fresh meal solutions, salads and fresh cut produce. Having established a national presence and wide customer base in the US, Ready Pac Foods operates four production facilities and has annual revenues of about $800 million. Ready Pac Foods is the US market leader in single serve salad bowls.

The purchase price represents a multiple of about 11 times the US company’s adjusted EBITDA estimated for financial year 2016-2017.

Bonduelle is a well-respected, family-owned company, with seven generations of the Bonduelle family involved since its founding in 1853. The French company owns four brands of canned, frozen and fresh vegetables with presence in 100 countries worldwide and has revenues of US$3 billion.

The acquisition of Ready Pac Foods makes the US Bonduelle’s largest country of operation and biggest division. This aligns with its strategic plan and will strengthen the brand’s leadership positions in its core business lines. These include development of Bonduelle’s business in the consumer convenience and healthy food segments, increasing presence in the fast growing fresh prepared segment and reinforcement of its footprint in North America.

“This milestone acquisition for Bonduelle is a key step toward achieving our strategic ambition –‘VegeGo! 2025’ – to become the world reference in well-living through vegetable products,” says Christophe Bonduelle, chairman and chief executive of Bonduelle. “This acquisition will strengthen Bonduelle’s international footprint and dramatically change our profile.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • June 18, 2019Multimodal 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements