Pinnacle Agriculture Holdings, a multifaceted agricultural retail distribution business built through acquisitions and greenfield establishments, announced it has successfully undertaken a recapitalization under which the company’s creditors have agreed to extend the due dates on a first-lien term loan, and on second-priority senior secured notes. The group also has announced the infusion of $125 million […]
UK-based food retailer, Tesco, has agreed to acquire the UK’s largest food wholesaler, Booker Group, in a £3.7 billion (US$4.6 billion) deal that would create a food supply chain giant. Under the terms of the deal, which has been under negotiation for a year, the two groups will combine in a share and cash deal […]
Pacific Equity Partners (PEP) has agreed to acquire Allied Mills, Australia’s largest flour supplier, from joint venture partners, GrainCorp and Cargill. GrainCorp announced that it agreed to the sale of its 60 percent stake in Allied Mills Australia Pty Ltd for a pre-tax and pre-transaction cost consideration of A$190 million. GrainCorp also said that Cargill has […]
Canada’s largest dairy processor, Saputo, has made a cash offer for the remaining 12 percent it does not already own in Australia’s oldest dairy, Warrnambool Cheese and Butter (WCB) in a deal that values the company at $682 million. The per-share price of A$8.85, as outlined in a statement by Saputo to the Australian Securities […]
NextProtein, a Paris and Tunis-based producer of animal feed components and biological fertilizer from insect larvae, has raised €1.3M in a funding round featuring Kima Ventures, along with angel investors – Jerome Lecat, Khaled Helioui, (who also backed Uber and Deliveroo), Sylvie Ganter, Christophe Cervasel, and participants from the Anaxago financing platform and AngelSquare. Founded […]
Healthy, banana-based snack company, Barnana announced it has raised $5.3 million in growth equity funding through a round led by Trently Advisors, and including Blueberry Ventures, Boulder Food Group, and Finn Capital Partners. Founded in 2012 in Santa Monica, California, by Caue Suplicy, Matt Clifford, and Nik Ingersoll, Barnana creates banana-based snacks while also reducing […]
Earl Brown & Sons, the largest grower and packer of apples in the state of Oregon, has been acquired by Washington State-based fruit company, Foreman Fruit Company, for an undisclosed amount. Under the terms of the deal, Earl Brown & Sons will retain its name, and the Brown family will remain in place to manage […]
Australia’s most iconic food spread, Vegemite, will once again be Australian-owned following Bega Cheese’s recent announcement that it will acquire the majority of Mondelēz International’s Australian and New Zealand grocery and cheese business. Since announcing the A$460 million deal and entering into the A$700 million market for bread and toast spreads, shares in Bega Cheese have […]
The European Bank for Reconstruction and Development (EBRD) announced it has completed its first commitment within the agribusiness space in Greece. The transaction was part of a €40 million (US$42.6 million) bond loan facility that included Alpha Bank, Eurobank, and National Bank of Greece in which the EBRD provided €10 million (US$10.6 million) in long-term […]
California-based offshore aquaculture startup Catalina Sea Ranch announced it has closed on a $2 million round of financing from unnamed investors. Located at Terminal Island in the Port of Los Angeles, Catalina Sea Ranch was successful at securing the first permit for offshore aquaculture in U.S. Federal waters from the U.S. Army Corps of Engineers. […]
