BONDUELLE to acquire Ready Pac Foods, the US leader of single-serve salads bowls
23 Février 2017 - 7:01PM
BONDUELLE
A French SCA (Partnership Limited by Shares) with
a capital of 56,000,000 EurosHead Office: La Woestyne 59173
Renescure, FranceRegistred under number: 447 250 044
(Dunkerque Commercial and Companies Register)
Villeneuve d'Ascq, France, 23rd of February 2017 -
Information Release
Bonduelle to acquire Ready Pac Foods,
the US leader of single-serve salads bowls
Bonduelle, the world leader of ready-to-eat
vegetables, present in canned, frozen, fresh cut and delicatessen
has executed an agreement to acquire Ready Pac Foods, the U.S.
market leader in single serve salad bowls.
Based in California, Ready Pac Foods is the #1
producer of single-serve salad bowls in the U.S. through its Bistro
Bowl® suite of products and its legacy of innovation and culinary
expertise. Ready Pac Foods is also a producer of fresh-cut produce,
offering packaged salads, fresh-cut fruits, and mixed vegetables to
its retail and foodservice customers. With 4 production facilities
located in Irwindale (CA), Jackson (GA), Florence and Swedesboro
(NJ), and employs about 3,500 full-time employees. Ready Pac Foods
generates approximately $800m of revenues, with a national presence
in the U.S. and a wide customer base.
This milestone transaction is a key step in
Bonduelle's strategic ambition VegeGo! 2025 of being "the world
reference in "well living" through vegetable products". This
acquisition will strengthen Bonduelle's international footprint and
dramatically change its profile, making the U.S. the largest
country of operations, continuing a longstanding track record of
successful acquisitions in North America, in particular Aliments
Carrière, Canada, in 2007 and Allens, USA in 2012, and the fresh
category, its first business segment. This transaction will also
offer new opportunities to Ready Pac Foods business partners and
deliver significant value to Bonduelle's shareholders.
This acquisition, which is fully compatible with
Bonduelle's strong financial profile, perfectly fits with its
strategic plan and will strengthen its leadership positions in its
core business lines:
- development of Bonduelle's business in the consumer convenience
and healthy food segments,
- increasing presence in the fast growing segment of fresh
prepared vegetables,
- reinforcement of footprint in North America, of a size, post
transaction, equivalent to the European Union in Bonduelle's
geographical portfolio.
Ready Pac Foods will become Bonduelle 5th's
business unit, dedicated to the Fresh business in the Americas,
along with Bonduelle Long Life Europe (BELL), Bonduelle Fresh
Europe (BFE), Bonduelle Eurasia Markets (BEAM) and Bonduelle
Americas (BAM), the latter being devoted to canned and frozen
vegetables in Americas, from North to South.
Christophe Bonduelle, Bonduelle's Chairman and
CEO, said: "We welcome all of the Ready Pac Foods employees into
the Bonduelle family. We look forward to working with the highly
skilled and successful Ready Pac Foods management team in bringing
together two great companies in the vegetal food industry. This
acquisition shows Bonduelle's ambition to further develop as a
global leader in its markets and strengthen its positions in the
consumer convenience and health segments to meet consumers'
needs."
"We are thrilled to partner with market
leader Bonduelle in our next Chapter of growth and feel we will be
right at home within the Bonduelle family of companies," said Ready
Pac Foods CEO, Tony Sarsam. "Beyond common business goals, both
companies share a common purpose - to help people live healthier
lives through innovative fresh food products. I am enthusiastic
about Bonduelle's investment in our growth strategy and for the
great success we will achieve together."
Crédit Agricole CIB and Willkie Farr &
Gallagher acted as financial and legal advisors to Bonduelle in
connection with the transaction.
Harris Williams & Co. and Skadden, Arps,
Slate, Meagher & Flom acted as financial and legal advisors to
Ready Pac Foods.
Further information on the transaction will be
communicated with half-year results, on March 2, 2017.
IR Contacts: BONDUELLE - finance@bonduelle.com
Press Contacts / Public relations agency:Benjamin
ZEHNDER - RP carrées - Tel: +33.(0)6.76.41.18.19Email:
benjamin.zehnder@rp-carrees.comVanessa VAZZAZ - RP carrées -
Tel: +33.(0)3.28.52.07.42 / M : +33.(0)6.34.32.24.23 Email:
vanessa.vazzaz@rp-carrees.com
About Bonduelle
Bonduelle, a family business, was established in
1853. Its mission is to be the world reference in "well-living"
through vegetable products. Prioritizing innovation and long-term
vision, the group is diversifying its operations and geographical
presence. Its vegetable, grown over 128.000 hectares all over the
world, are sold in 100 countries under various brand names and
through various distribution channels and technologies. Expert in
agro-industry with 54 industrial sites or own agricultural
production, Bonduelle produces quality products by selecting the
best crop areas close to its customers.Bonduelle is listed on
Euronext compartment BEuronext indices: CAC MID & SMALL - CAC
ALL TRADABLE - CAC ALL SHARESBonduelle is part of the Gaïa
non-financial performance index and employee shareholder index
(I.A.S.)Code ISIN : FR0000063935 - Code Reuters : BOND.PA - Code
Bloomberg : BON FP
About Ready Pac Foods
Home of the original Bistro Bowl® complete meal
salad, Southern California-based Ready Pac Foods has been giving
people the freedom to eat healthier for nearly 50 years as a
premier producer of convenience fresh foods and fresh cut produce.
With processing facilities throughout the United States, Ready Pac
Foods manufactures a complete range of products featuring fresh
produce and protein under the company's Bistro®, Ready Snax®, Cool
Cuts® and elevAte(TM) brands. Offerings include fresh-cut salads,
fruits, vegetables, snacking and complete meals available where
consumers buy groceries and in restaurant chains across North
America.
Attachments:
http://www.globenewswire.com/NewsRoom/AttachmentNg/3d0d7cca-c970-4418-8602-3b048fce70fd
Bonduelle (EU:BON)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
Bonduelle (EU:BON)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024