M&As this week: Bunge North America, Berry Plastics Group, Swell Chicago

1 September 2016 (Last Updated September 1st, 2016 18:30)

Bunge North America, Inc. will acquire a controlling interest in Grupo Minsa, a Mexican producer and retailer of corn flour, in a transaction that is expected to be completed early next year.

Berry Plastics

Bunge North America will acquire a controlling interest in Grupo Minsa, a Mexican producer and retailer of corn flour, in a transaction that is expected to be completed early next year.

The transaction is subject to the authorisation of the Comision Federal de Competencia Economica and other customary closing conditions.

Bunge North America will acquire four mills in Mexico and two mills in the US by signing a subscription agreement with Grupo Minsa.

Bunge North America is a global agribusiness and food company based in the US, and plans to bolster its business in Mexico’s corn masa market through the acquisition.

Berry Plastics Group, a producer and seller of plastic packaging products, will acquire the outstanding shares of AEP Industries, including net debt, for $765m.

The transaction is due to be closed by the end of 2016.

Berry Plastics will pay each AEP shareholder $110 in cash or 2.5011 shares of its common stock per AEP share.

The cash component of the deal will be funded through cash in hand and a new term loan.

Following the acquisition, 5% of Berry Plastics Group will be held by AEP shareholders on a fully diluted basis.

Chefmade, a prepared food delivery service, has been acquired by Swell Chicago (Cooked Chicago) in a transaction that will see the latter boost its business in meal delivery sector.

Following the acquisition, the founder and CEO of Chefmade will join Cooked Chicago as director.

Duckhorn Wine, a boutique winery based in California, US, will be acquired by TSG Consumer Partners in a transaction that is expected to be completed by next month.

The private equity firm will acquire all six Duckhorn Wine Company wineries and their related properties as well as more than 600 acres of estate vineyards from GI Partners.

Under the terms of the transaction, Duckhorn Wine will retain all its employees as well as its CEO.


Image: Berry Plastics Group is a leading provider of consumer packaging solutions. Photo: courtesy of Berry Plastics Corporation.