Compass Group PLC, Charlotte, NC, has completed its acquisition of Morrison Management Specialists, Inc., Smyrna, GA (see FOOD INSTITUTE REPORT, Feb. 12, page 7).
Constellation Brands, Inc., Fairport, NY, has reached a deal to acquire Ravenswood Winery, Inc., Sonoma, CA, for approximately $148 million, plus the assumption of net debt, which is expected to be minimal at the time of the closing. Ravenswood produces, markets and sells primarily red super-premium and ultra-premium wines exclusively under the Ravenswood brand name, including the leading super-premium Zinfandel in the U.S.
A management group led by Gregg Ostrander, chairman, president and chief executive of Michael Foods, Inc., has completed its acquisition of the Minneapolis, MN-based company for $800 million, taking it private (see FOOD INSTITUTE REPORT, Dec. 25, page 8)
Red Gold, Elwood, IN, the largest tomato processor outside of California, was the victor in an unexpected bidding war with Woodland, CA-based Morningstar Packing Co., the nation's largest tomato paste processor, for the East Coast tomato business of bankrupt Tri Valley Growers, San Ramon, CA. The business was sold for $20.4 million, marking the last major step in the dissolution of Tri Valley Growers (see FOOD INSTITUTE REPORT, Apr. 9, page 2)...The Modesto Bee (Apr. 11).
Tree Top, Inc., a Selah, WA-based fruit processor, has acquired Tree Fruit Packers, Inc., Seattle, WA, a producer of frozen dark sweet cherries. Tree Top will move Tree Fruit Packers' equipment to their facility in Milton-Freewater, OR and be operational for the 2001 pack season.
Forest Lake Partners LLC has signed a definitive agreement to acquire Rymer Foods, Inc., Chicago, IL, the holding company of Rymer Meat, a provider of frozen, pre-seasoned meat and other cooked products.
PWNC, a limited partnership formed by the owners of Piedmont Center Properties in North Carolina, has agreed to acquire 11 Acme Markets - seven in Virginia and four in West Virginia - from Acme Markets. Currently, Piedmont owns and operates three franchised Piggly Wiggly stores in North Carolina and seven licensed Sav-O-Lot stores in Virginia and Ohio. The average size of the stores being sold is 40,000-sq.-ft. Under a separate agreement, Piedmont will buy a number of shopping centers currently owned and operated by Acme Markets...Shelby Report of the Southeast (April).
SECO and Golden '100' Inc., DeLand, FL, has acquired the drinks base business of International Fruit Marketing, Inc. (IFM), Winter Park, FL. The deal consolidates the IFM frozen drink base business with the existing production of non-refrigerated powder and refrigerated drink formulations at the DeLand, FL, plant, making available of full line of industrial beverage concentrates for finished product packers. The combined customer list totals more than 50 dairies and bottlers...Shelby Report of the Southeast (April).
SKW Trostberg and Degussa-Huls have merged, forming Degussa AG, the largest specialty chemical company in the world. Degussa has a work force of 63,000 employees in over 100 countries throughout the world, with 1999 earnings of approximately $6.7 billion. In North America, the business units of SKW BIOSYSTEMS, Inc. are now part of the Health & Nutrition division. The business units include BioActives, Waukesha, WI; Flavors & Fruit Systems, Cincinnati, OH; and Texturant Systems, Atlanta, GA.
