Latest Deals

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Perrigo is exiting infant formula, with the Dublin-based company selling its assets to US contract manufacturer MeridianMade. Under the terms of the deal, MeridianMade is paying $175m for the business, made up of a $40m cash payment and a performance-related $135m through 2030. New York-listed Perrigo said the disposal of its infant-formula assets was part of its “evolution into a more focused consumer self-care company”.

Chile meat-and-seafood group Agrosuper is looking to acquire salmon farming and processing assets from local peer Blumar. The two companies have entered into an MoU over a possible transaction. The proposed deal centres on Salmones Blumar SA, the Blumar unit that focuses on “salmonid farming, breeding, harvesting, processing and marketing”. Agrosuper said the terms of the MoU state the transaction could be worth up to $540m.

Mondelez International has taken a majority interest in gluten-free business Undercover Snacks. US-based Undercover Snacks produces chocolate-coated better-for-you snacks based on quinoa, which provide on-trend benefits in protein, fibre and nutrients. Its products are stocked in the likes of Walmart and Target. “The brand is highly incremental to our existing portfolio, expanding our presence in the fast-growing permissible indulgence segment,” Mondelez chairman and CEO Dirk Van de Put said.

The Dutch anti-trust regulator has blocked Unilever’s sale of the Unox brand almost two years after the deal with Zwanenberg Food Group was announced. Following a review of the transaction launched last year, the Netherlands Authority for Consumers and Markets (ACM) concluded Zwanenberg would have become the “only major supplier” of smoked and boiled sausages to Dutch supermarkets. In ambient soups, the ACM added the Almelo-headquartered business would have dominated the category with a market share of 60% to 85%.