Interested in the latest deals & rumours in foodservice? Read all about it here in our weekly round-up.
Ample Foods Secures USD2 Million in Seed Funding
Ample Foods Inc., a US-based nutrition startup that enables people to have a complete, satisfying and healthy meal in under two minutes, has secured an additional USD2 million in seed funding led by Slow Ventures. The latest investment from Slow brings Ample‘s total funding to USD4 million. Ample Foods will use the funding to expand its reach for healthy and drinkable meal.
Empire Equipment Acquires TruTemp Equipment and Norm’s Refrigeration
Empire Equipment Company, a provider of foodservice equipment, has acquired TruTemp Equipment and Norms Refrigeration, Inc. All companies involved in the transaction are based in the US. TruTemp Equipment and Norms Refrigeration are the wholesaler and distributor of commercial foodservice equipment and aftermarket parts to the foodservice, hospitality, healthcare, and retail industries. As part of the transaction, on behalf of all the employees at TruTemp and Norm’s Refrigeration, will join the forces with the Empire family. Tim McGillicuddy is the chief executive officer and president of TruTemp/Norm’s. The transaction of TruTemp Equipment and Norm’s Refrigeration will enable Empire Equipment to form wholesale distribution platform for commercial foodservice equipment.
Mondelez International to Acquire Tate’s Bake Shop from The Riverside and Kathleen King
Mondelez International, Inc., a producer and marketer of snack food and beverage products, has entered into an agreement to acquire Tate’s Bake Shop from The Riverside Company, Kathleen King and others, for a consideration of approximately USD500 million. Both companies involved in the transaction are based in the US. Tate’s is a fast growing, premium cookie and baked goods brand. Dirk Van de Put is the chairman and chief executive officer of Mondelez International. The transaction is subject to customary closing conditions and is expected to close during the summer of 2018. The transaction would enable Mondelez International to enter into the fast growing premium cookie segment and to expand distribution.
OSI International Foods Merges with Turi Foods
OSI International Foods (Australia) Pty., Ltd., a manufacturer and seller of meat, poultry, and fish products, has merged with Turi Foods Pty. Ltd., a producer of poultry food products. Both the companies are based in Australia. The merged entity will be known as Turosi Pty Ltd. Sam Cuteri is the Chairman of Turi Foods. Turi Foods and OSI will continue to operate their plants out of Thomastown and Geelong, Victoria, Australia. The merger creates a strong strategic alliance and enables Turosi to offer a full range of food solutions to the marketplace, complementing the strong OSI brand with the existing food brands of La Ionica, Bannockburn, Golden Farms and Colonial Farm.
Prestige Beverage Group Acquires Joia Spirit
Prestige Beverage Group, a wholesaler of fine wines, spirits, and beers, has acquired Joia Spirit, LLC, a producer of soft drinks. Both the companies are based in the US. Bob Safford is the chief executive officer and founder of Joia Spirit. The acquisition enables to Prestige Beverage Group to expand its business.