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Milne squeezes out a deal with Valley Processing
Posted on Tuesday, 22 September 2020 10:05
Milne Fruit Products has acquired the assets of US-based fruit ingredient processor Valley Processing.
No financial details were announced.
Milne will pick up the target’s juice and puree production facilities, as well as its freezer and cold storage sites across the state of Washington.
Headquartered in Sunnyside, Valley Processing processes food and beverage products for customers throughout the US.
Established in 1980, the group offers a range of fruit juice, purees and essences.
Valley Processing has 81 employees and generates annual sales of USD 30.00 million.
The transaction will complement the buyer’s new Washington-based vegetable puree processing facility, which specialises in low acid aseptic ingredients, such as butternut squash, pumpkin, spinach and broccoli.
Michael Sorenson, president of Milne, said: “This acquisition brings a lot of synergy to Milne’s existing product line as well as a few new items we currently don’t offer.
“The added capacity ensures we can continue to grow with our customers and maintain the high standard of quality and service they expect from Milne.”
Formed in 1956, the acquiror is an independent processor and global supplier for clients in the industrial food ingredient, beverage and health and wellness markets.
Its product line contains more than 25 types of fruit and vegetables, as well as over 50 ingredients and custom blends.
Alongside its core offerings, Milne also provides juices and purees for pets.
The company offers a full range of compound services for manufacturers to help simply production and reduce preparation time, among other considerations.
According to Zephyr, the M&A database published by Bureau van Dijk, there have been 1,109 deals targeting food manufacturers announced globally since the beginning of 2020.
In the largest of these, Groupe Lactalis agreed to acquire Kraft Heinz’s US-based natural, grated, cultured and speciality cheese businesses for USD 3.20 billion.
This was followed by Citigroup Global Markets buying a 5.5 per cent stake in Danone for EUR 2.26 billion.
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