PODCAST: Agri-Food for Thought Ep. 30 - M&A in the Global Agri-Food Industry, June 2025 Overview

Expana presents Agri-Food for Thought, the podcast series for agriculture and food professionals.

Today, we bring you up to speed with merger & acquisition activity in the global agrifood landscape that occurred in June 2025 as part of the monthly M&A focus series.

June 2025 M&A activity picked up marginally compared to previous months. The ongoing tariffs situation, looming deadlines, other trade disputes, and market uncertainty, have a role to play here. 

Canada: Gay Lea Foods Sells Grober Nutrition to CG Wellington

Gay Lea Foods, a Canadian dairy cooperative, has reached an agreement to sell its Cambridge, Ontario-based animal nutrition division, Grober Nutrition, to CG Wellington Inc., a Canadian family-owned private investment firm specializing in agriculture.

Under the terms of the agreement, Grober Nutrition will continue to operate from its existing Cambridge, Ontario location. All current employees will remain in their roles. Grober Nutrition specializes in milk replacer products used in dairy nutrition. In 2019, Grober Nutrition sold its US subsidiary to Denkavit.

General Mills Backs Organic Push in Fresh Pet Food, But M&A Still on Table

As General Mills continues to expand its pet food footprint, the company is leaning heavily on organic growth, particularly in the fast-growing fresh pet food category, while still keeping mergers and acquisitions (M&A) as an option.

During an earnings call on June 25, Chairman and CEO Jeffrey Harmening emphasized that General Mills’ approach to category expansion is a deliberate balance between building from within and acquiring where necessary.

Harmening argued that General Mills believes it has the right investment profile

Cal-Maine Foods Closes Acquisition of Echo Lake Foods

Cal-Maine Foods announced today the closing of its acquisition of Echo Lake Foods.

In April, it disclosed it had entered into a definitive agreement to acquire Echo Lake Foods in an all-cash transaction valued at approximately $258 million.

At the time, Cal-Maine CEO Sherman Miller said the acquisition would help diversify the company’s product mix, especially in light of ongoing egg shortages related to avian influenza. The deal also strengthens Cal-Maine’s position in the growing market for value-added...

PODCAST: Agri-Food for Thought Ep. 29 - M&A in the Global Agri-Food Industry, May 2025 Overview

Expana presents Agri-Food for Thought, the podcast series for agriculture and food professionals.

Today, we bring you up to speed with merger & acquisition activity in the global agrifood landscape that occurred in May 2025 as part of the monthly M&A focus series.

May 2025 was generally quieter in terms of M&A compared to previous months. There are many factors influencing this but the ongoing tariffs situation, trade disputes, and market uncertainty, likely playe a role here.

Brazil’s Meatpacker Marfrig Seeks BRF Acquisition

Marfrig has announced its agreement to buy all remaining shares of Brazilian firm BRF to turn the other Brazilian firm it into a subsidiary.

Marfrig forecasts R$24 million (USD$4.7 million) in costs associated with the merger, but R$485 million per year in new revenue and cost synergies, largely though cross-selling and logistics optimisation after the acquisition.

Marfrig already owns 50.49% of the Brazilian firn. It acquired around a quarter of BRF's shares in 2021. 

The acquisition would increase Marfrig’s capacity in poultry, pork, and processed foods...

PODCAST: Agri-Food for Thought Ep 28 - M&A in the Global Agri-Food Industry, April 2025 Overview

Expana presents Agri-Food for Thought, the podcast series for agriculture and food professionals.

M&A in the global agri-food industry is an ongoing and very regular trend. Although many companies are hitting the brakes on M&A as they face tariffs and market uncertainty, hundreds of deals continue to take place each month.

On today's episode of Agri-Food for Thought, we showcase selected mergers and acquisitions in the agri-food sector that took place in April 2025.

Valeo Foods Acquires Italian Baker Freddi Dolciaria

Europe’s sweet snacks producer with footholds in the EU, UK, and Ireland has again expanded across Europe into Italy with the acquisition of Italian sweet baked goods producer, Freddi Dolciaria. A price of sale was not disclosed in the press release.

Currently, Valeo Foods has many recognized brands across Europe like Rowse honey, Jacob’s biscuits, Batchelor’s canned beans and peas, as well as Kettle crisps. Valeo will add Freddi Dolciaria brands like the bakery’s Swiss Roll products that contain ingredients like whole milk, Italian eggs, cocoa cream, chocolate flakes...

Young American Food Brands Acquires Best Provision Co., Expanding Premium Meat Offerings

Young American Food Brands has announced its fourth acquisition since 2022 with the purchase of Best Provision Co., an 87-year-old pioneer in premium smoked and cooked meats.

Since 2022, Young American has steadily expanded its portfolio with the acquisitions of Hofmann Sausage, Brooklyn Burger, and Devault Foods. The addition of Best Provision further strengthens the company’s position in the premium meat category, particularly in the fully cooked and smoked segment.

A respected industry leader with deep roots in the community...

Baldor Specialty Foods Acquires Golden Packing, Launches Golden Meat Co.

Baldor Specialty Foods announced today the acquisition of Golden Packing, a premium meat company based in the Hunts Point Cooperative Market. As part of the acquisition, the business will operate under a new name: Golden Meat Co.

This strategic move aims to vertically integrate Baldor’s meat processing operations by combining its high-end sourcing capabilities with Golden’s expert butchering—all while preserving the brand’s established reputation for quality.

With this acquisition, Baldor expands its portfolio of premium, portioned meats, offering chef customers enhanced labor savings and...

Bunge to Sell North America Corn Milling Business

Bunge has reached an agreement to sell its North America dry corn and corn masa milling businesses to Grain Craft, a leading US independent flour miller.

The deal includes Bunge facilities in Danville, Illinois; Worthington, Indiana; Crete, Nebraska; Red Oak, Iowa; Muleshoe, Texas; Atchison, Kansas; and Queretaro, Mexico.

Bunge’s Co-President, Agribusiness, Julio Garros said: "We carefully considered how this regional business fits with our long-term plans and made the strategic decision to focus on other areas of our core business that are more strongly connected to our global value chains."

Cal-Maine Foods Announce Q3 Earnings

Cal-Maine Foods announced its financial results for the third quarter of fiscal 2025, reporting net sales of $1.4 billion and net income of $508.5 million.

The company saw strong demand, setting a record for the highest total number of dozens sold during the quarter. Additionally, Cal-Maine made significant progress in its efforts to address the ongoing challenges posed by tight egg supplies in the U.S., exacerbated by rapid outbreaks of bird flu.

Key highlights from the quarter include:

• 14% increase in the...

Vertical Cold Storage Acquires Arctic Logistics in Detroit Metro Area

Vertical Cold Storage, a developer and operator of temperature-controlled distribution centers sponsored by real estate investment firm Platform Ventures, has purchased Arctic Logistics in Canton, MI. The acquisition is the fifth new Vertical Cold facility in the past year, making it the sixth largest cold storage company in North America. Terms were not disclosed.

“This acquisition strengthens our ability to support customers engaged in cross-border trade and adds a critical location to our growing national footprint,” said Jim Henderson, Chief Commercial Officer at...

PODCAST: Agri-Food for Thought Ep 26 - M&A in the Global Agri-Food Industry, March 2025 Overview

Expana presents Agri-Food for Thought, the podcast series for agriculture and food professionals.

M&A in the global agri-food industry is an ongoing and very regular trend. Although many companies are putting the brakes on M&A as they face tariffs and market uncertainty, hundreds of deals continue to take place each month.

On today's episode of Agri-Food for Thought, we showcase selected mergers and acquisitions in the agri-food sector that took place in March 2025.

Kroger Responds to Albertsons’ Lawsuit, Files Counterclaims

Kroger has announced that it has filed its formal answer and counterclaims in response to Albertsons' lawsuit, which was brought before the Delaware Court of Chancery following the termination of the proposed merger.

On December 11, 2024, Albertsons called off its bid to merge with Kroger after a two-year effort, subsequently filing a suit alleging breach of contract in connection with the collapse of the deal. 

Today, Kroger issued a statement revealing that it had filed its answer and counterclaims. The company asserts that while it was diligently working to secure regulatory...

Southeastern Grocers Announces New Ownership of Iconic Winn-Dixie Banner

A consortium of private investors, spearheaded by the current CEO and President of Southeastern Grocers Inc. (SEG), Anthony Hucker, and C&S Wholesale Grocers, today announces it has acquired Southeastern Grocers and its Winn-Dixie and Harveys Supermarket banners from ALDI U.S. ALDI U.S. previously purchased Southeastern Grocers in March 2024.

The agreement includes the acquisition of SEG grocery and liquor store operations under the Winn-Dixie and Harveys Supermarket banners. This includes approximately 170 grocery stores in Alabama, Georgia, Louisiana, Mississippi and...

JBS Enters Brazilian Egg Market with Acquisition of Mantiqueira Valued at $316 Million

JBS has announced its acquisition of a 48.5% stake in Mantiqueira, Brazil's largest egg producer, marking its debut in Brazil's egg industry.

Mantiqueira, which generates approximately BRL $2 billion in annual revenue according to The Agribiz, operates with a flock of 17.5 million laying hens. As part of the agreement, the company's founder will retain operational control alongside CEO Marcio Utsch.

Mantiqueira is expected to benefit from JBS's extensive distribution networks, including Seara and Friboi, which will broaden its market access across Brazil...

Valeo Foods Group Completes the Acquisition of I.D.C. Holding

Valeo Foods Group, one of Europe’s leading producers of quality sweets, treats and snacks, has completed its previously announced acquisition of I.D.C. Holding, a major independent producer of quality wafers, biscuits, confectionary and chocolate in Central and Eastern Europe.

First established in Slovakia over a century ago, I.D.C. Holding is a transformative addition to Valeo Foods Group’s expanding portfolio. Producing a wide range of branded wafer, biscuit, sugar confectionary and seasonal chocolate products, I.D.C. Holding is a natural fit with Valeo Foods Group’s sweet snacking...

Premium Brands Holdings Corporation Announces Strategic Transactions

Premium Brands Holdings Corporation (TSX: PBH), a leading producer, marketer and distributor of branded specialty food products, announced today that it has completed the following strategic transactions:

- The acquisition of NSP Quality Meats (NSP), a cooked protein and deli meats manufacturer with plants located in Oklahoma, Texas and Missouri

- The acquisition of Casa Di Bertacchi (Casa), a manufacturer of branded and private label cooked protein products with a plant in New Jersey

- The acquisition of Italia Salami (Italia), a manufacturer of authentic dry cured Italian salami with a plant in Ontario...

TD Bank Survey: Restaurant Industry Anticipates Bright 2025 with Tech and M&A at the Forefront

A survey conducted by TD Bank at the 2024 Restaurant Finance and Development Conference indicated that optimism has returned to the restaurant franchise industry after years of challenges.

The TD Bank poll collected insights from 175 restaurant operators and finance professionals as they look ahead to 2025. Alongside the optimistic outlook, TD Bank noted that the adoption of digital and mobile ordering, menu creativity and higher expectations around AI were also key findings from the survey...

Kingswood Capital Management Acquires Branding Iron Holdings, a Leading Protein Provider

Kingswood Capital Management, LP (together with its affiliates, “Kingswood”) announced today that it has acquired Branding Iron Holdings (“Branding Iron” or “the Company”), an industry-leading provider of branded and private label protein products, including beef and pork, with a core focus on frozen and refrigerated ground meats. This represents the latest investment for Kingswood in the food and beverage industry.

“It was important to us to identify a long-term partner who will help us grow and support customers across...

BRF Buys Stake in Saudi Arabian Poultry Company for USD 84 Million

BRF reported on 31 October that it formalized the purchase of 26% of shares of the Saudi Addoha Poultry Company, one of the largest chicken producers in Saudi Arabia, for USD 84.3 million.

The announcement is on the back of BRF's partnership with Saudi Arabia's Public Investment Fund (PIF) set to invest USD 500 million in poultry production and food processing in the region.

According to media outlet Infomoney, Bradesco’s BBI analysts estimate that the Addoha factory purchased, which operates entirely in the halal...

Forever Cheese Expands Value-Added Service Capabilities with Acquisition of Virginia Packing

Forever Cheese, a leading importer of cheese, cured meats, and other specialty foods, announced today that it has acquired substantially the assets of Virginia Packing, LLC (“Virginia Packing”), headquartered in Toano, Virginia. Virginia Packing specializes in cured meat slicing, packing and logistics services for premium domestic and international brands. This strategic partnership accelerates Forever Cheese’s ability to offer value-added services to its customers with plans to expand within the current facility.

Virginia Packing and Forever Cheese share a commitment to product quality, and both...

Wakefern Food Corp. Acquires Di Bruno Bros. Portfolio of Branded Products

Wakefern Food Corp. today announced the acquisition of the Di Bruno Bros. portfolio of specialty products that are currently distributed nationally to wholesale and retail customers.

A pioneering specialty food retailer and purveyor of gourmet cheeses and cured meats in the Philadelphia area since 1939, Di Bruno Bros. was also one of the first specialty grocers online when it began selling its products nationwide in 1998.

The five Di Bruno Bros. retail locations and a bottle shop in Philadelphia were recently acquired by DB Gourmet Markets...

Performance Food Group Company Completes the Acquisition of Cheney Bros, Inc.

Performance Food Group Company (PFG) today announced that it has completed the acquisition of Cheney Bros., Inc. (“Cheney Brothers”), a leading independent broadline foodservice distributor based in Riviera Beach, Florida. The acquisition creates a stronger presence in the Southeast region and provides additional distribution capacity. Cheney Brothers generates approximately $3.2 billion in annual revenue. The company has approximately 3,600 employees and operates five distribution centers in Florida and North Carolina. PFG continues to expect to generate approximately $50 million...

Flora Food Group Announces Acquisition of New Facility in Southwestern Kansas

Flora Food Group B.V., global branded food champion, today announced the purchase of a manufacturing facility located in Hugoton, Kansas. This facility closed earlier this year under its previous owner.

The facility will serve as the hub for Flora Food Group’s creams and cream cheeses products for the U.S. and Canada and across the rest of the Americas region over time, while its existing New Century, KS facility will continue to serve as the U.S. hub for Flora Food Group’s butters and spreads products...

General Mills Announces Agreements to Sell Its North American Yogurt Business to Lactalis and Sodiaal

General Mills, Inc. (NYSE: GIS) today announced that it has entered into definitive agreements to sell its North American Yogurt business to Lactalis and Sodiaal, two leading French dairy companies, in cash transactions valued at an aggregate $2.1 billion USD. Following the completion of the transactions, the U.S. and Canadian businesses will operate independently, with Lactalis acquiring the U.S. business and Sodiaal acquiring the Canadian business. The proposed transactions are expected to close in calendar 2025, subject to receipt of requisite regulatory approvals and other customary closing conditions.

The divestitures encompass the U.S. and Canada operations of several yogurt brands including...

Cargill Acquires Two Feed Mills in Denver and Kansas City from Compana Pet Brands

Cargill Animal Nutrition and Health has acquired two feed mills from Compana Pet Brands – one in Denver, Colorado, and the other in Kansas City, Kansas. With the addition of the two facilities, Cargill will be expanding its production and distribution capabilities in the western and central regions of the US, the company has announced.   

Through the Denver mill acquisition, Cargill will welcome over 35 employees. The Denver mill has dedicated packing lines, allowing for growth with ag retail customers who serve the backyard/hobby farmer and pet owner segments...