Brazilian food processing firm Marfrig Global Foods has signed an agreement with Tyson Foods to sell Keystone Foods, a US-based supplier of chicken, fish, pork and beef to foodservice companies, for $2.16bn.
The transaction covers six food processing plants and an innovation centre in the US, as well as eight plants and three innovation centres located outside the US.
The deal is scheduled for closure in mid-2019, subject to customary closing conditions and necessary regulatory approvals.
The acquisition will allow Tyson Foods to expand its value-added protein capabilities and its presence in the international market.
Zoe’s Kitchen has agreed to be acquired by Mediterranean restaurant chain Cava Group for $300m.
The combined business will create the biggest restaurant operator in the Mediterranean category.
Subject to certain closing conditions, the acquisition is expected to be closed in the fourth quarter of 2018.
Cava Group will pay a $17m termination fee to Zoe’s Kitchen, if the deal is terminated.
Based in Texas, US, Zoe’s Kitchen operates fast casual restaurants serving a menu of pitas, grilled chicken sandwiches, chicken salad, and pasta salads.
HF Foods Group (formerly Atlantic Acquisition) has completed the merger of its business with HF Group Holding Corporation.
HF Group Holding’s former shareholders, who have also approved a name change from Atlantic Acquisition to HF Foods Group, will be issued 19.97 million shares priced at $10 a share.
HF Group Holding’s current management will serve as executive management of the merged entity.
Headquartered in North Carolina, US, HF Group Holding serves as a foodservice distributor for Chinese and other Asian restaurants.
Focus Brands’ (FBI) subsidiary has agreed to purchase Jamba Juice for $200m, under a merger agreement.
The outstanding shares of Jamba’s common stock will be sold to FBI’s subsidiary at a value of $13 a share through a tender offer, while the remaining untendered shares will be acquired by FBI.
The tender offer is subject to customary conditions, including antitrust clearance and the tender of a majority of the outstanding shares of Jamba’s common stock.
FBI develops a variety of food services brands, while Jamba Juice offers fruit and vegetable smoothies, bowls, juices, cold-pressed shots, boosts, snacks, and meal replacements across more than 800 locations globally.
Both the companies involved in the transaction are based in the US.
Lagardère Travel Retail has agreed to acquire airport restaurant and bar operator Hojeij Branded Foods (HBF) for $300m.
Based in Atlanta, US, HBF operates 124 bars and restaurants across 38 airports in North America.
Subject to various customary conditions, the transaction will strengthen the acquirer’s presence in the foodservice market and expand its concession portfolio.
It is also expected to create a $1.1bn business in the North American travel retail and foodservice market.
HBF will operate under Lagardère Travel Retail’s North American division Paradies Lagardère, upon completion of the transaction.
Wright & Bell has acquired Whyte & Brown, a casual chicken and egg-focused restaurant in Kingly Court, London, UK.
Whyte & Brown’s product offerings include chicken soups, wings, burgers, salads, souvlaki and roast along with breakfast, fab desserts, drinks, and Express Lunch specials.
The acquisition will support the growth of Wright & Bell in central London.
The transaction was funded by Wright & Bell and its parent Imbiba through a loan from ThinCats.