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Bolthouse Farms chews off Rousseau’s carrot business
Posted on Thursday, 26 March 2020 10:33
Bolthouse Farms looks to expand its existing 100+ years of carrot farming by picking up similar operations from Rousseau Farming Company.
The deal will allow the buyer to focus on providing more locally produced carrots and strengthening its position as an innovation leader in growing, processing and distributing the orange vegetable.
Bolthouse claims to already be equipped when it comes to automation processing and packing advancements.
Jeff Dunn, chief executive of the buyer, said: “This acquisition will help us scale to serve our customers better by bringing more fresh and healthy, locally grown carrots to them in the Southwest.
“We've had a longstanding relationship with the Rousseau family and are committed to partnering with companies that share our core values of sustainability, product quality and customer service. We look forward to continuing to grow our businesses and support the industry together.”
Rousseau Farming’s carrot operations name is not expected to change as a result of the acquisition and the company is expected to retain ownership of all other produce operations.
Talks have been ongoing between the two businesses for the last few months; however, terms of the deal were not disclosed as the companies are privately held.
Bolthouse Farms started farming carrots in 1915 in Grant, Michigan and is one of the top carrot producers in the US with a reputation for flavour and quality.
Rousseau has been putting fresh produce on tables since 1892 and remains committed to providing consumers with locally grown produce.
Bolthouse has over 2,200 employees and is headquartered in Bakersfield in California’s San Joaqin Valley.
The group was owned by Campbell Soup following a USD 1.55 billion acquisition in 2012, before being taken over by Butterfly Equity for USD 110.00 million.
Zephyr, the M&A database published by Bureau van Dijk, shows there have been 14 deals targeting fruit and vegetable preserving and speciality food manufacturers announced worldwide in 2020 to date.
In the largest of these, SEA Diner Holdings agreed to acquire a 13.0 per cent stake in Del Monte Philippines for USD 130.00 million.
© Zephus Ltd