M&As this week: Limoneira, JBT, frostkrone Beteiligungs

Limoneira Chile, the Chilean subsidiary of Limoneira, has acquired a majority stake of 90% in Pan de Azucar (PDA), which gives Lemoneira 48% interest in Rosales, a citrus packing, marketing and sales operation also based in Chile.

Based in the US, Limoneira produces lemons, avocados, oranges, specialty citrus and other crops. The target company owns approximately 210 acres of lemon and orange orchards near La Serena, Chile.

The acquisition will allow Limoneira to provide citrus year-round to its customers worldwide.

JBT has acquired US-based high-pressure processing (HPP) systems provider, Avure Technologies, for approximately $57m.

The acquirer company, which is a technology solutions provider to the food and beverage industry, will be able to provide comprehensive thermal and non-thermal preservation solutions and add approximately $50m to its revenue, through the acquisition.

Emeram Capital Partners, a private equity firm, has acquired Ardian’s stake in frostkrone Beteiligungs for an undisclosed sum.

Ardian is a global investment company, whereas frostkrone Beteiligungs is a deep-frozen convenience food producer serving the food retail, discount, home delivery service and food service sectors.

Glanbia, a nutritional products maker, intends to sell its 60% stake in Dairy Ireland to Glanbia Co-operative Society (Society).

A non-binding memorandum of understanding for the same has been signed between the company and the Society.

Dairy Ireland will be combined with Glanbia Ingredients Ireland and the resulting new entity will be renamed as Glanbia Ireland. Glanbia will own 40% stake in the new entity, while the remaining 60% stake will be owned by the Society, following the sale transaction.

Bonduelle, a vegetable company based in France, has reached an agreement to acquire Ready Pac Foods for an undisclosed sum.

Based in the US, Ready Pac Foods offers single-serve bowls including fresh-cut produce, packaged salads, fresh-cut fruits, and mixed vegetables, to retail and foodservice customers.