Deals and M&As this week: Tahua Capital, MTY Food, Finsbury Food

Tahua Capital Limited has acquired fixed assets and stock of the Starbucks business from Restaurant Brands New Zealand Limited for $4.4m.

Restaurant Brands is a fast food company and operator of multi-brand quick-service restaurant chains, including KFC, Pizza Hut and Carl’s Jr brands.

A wholly owned subsidiary of MTY Food Group has signed an agreement to acquire the assets of sweetFrog Premium Frozen Yoghurt franchise system for $35m.

Based in the US, sweetFrog provides different frozen yoghurt flavours and fresh toppings options to customers. It operates 254 franchised locations and 78 corporate-owned locations.

MTY will combine the operations and manage the franchising platform from Scottsdale, Arizona, US.

The transaction enables MTY to strengthen its position in the frozen treat segment and expand its presence in the US market.

Finsbury Food has completed the acquisition of Ultrapharm for £17m ($21m).

Finsbury is a cake and baked goods producer based in the US, while Ultrapharm is a manufacturer of ‘free-from’ bakery products.

Ultrapharm has manufacturing facilities in Poland and the UK and its product range includes bread, buns, rolls and other breakfast goods.

Stamford Partners is the financial advisor for Finsbury, while Gambit Corporate Finance is Ultrapharm’s financial advisor for the transaction.

Premium Brands (PBH) has signed an agreement for the acquisition of Ready Seafood for an undisclosed sum.

PBH is a speciality foods producer based in Canada, while Ready is a processor, distributor and marketer of lobsters in the US.

PBH has also acquired Concord Premium Meats in June 2018. Concord offers branded and customised protein solutions for retailers and foodservice customers in Canada.

Valio intends to merge its Osuuskunta ItäMaito and Osuuskunta Maitosuomi businesses to form a new company named Osuuskunta Maitosuomi.

The newly formed co-operative, to be based in Lapinlahti, Finland, will begin its operations from September 2019.

It will hold 20,849 shares of Valio and will also lead to a raw milk intake of approximately 900 million litres a year.

The new dairy company will improve services for dairy farmer entrepreneurs and ensure greater resource efficiency.

Mount Franklin Foods has completed the acquisition of Hospitality Mints for an undisclosed amount.

Mount Franklin Foods is a producer of sweet and nut products, while Hospitality Mints is a confectionery manufacturer. Both companies are based in the US.

The acquisition forms part of Mount Franklin’s strategy to expand its product range.

ORIOR has agreed to acquire 35% interest in Casualfood for an undisclosed sum.

ORIOR is a food and beverage group based in Switzerland, while Casualfood is a creative company that introduced small-scale food islands and mobile carts that offer freshly prepared food to-go.

Casualfood will function as an independent centre of competence within the ORIOR International segment.

ORIOR’s stake in Casualfood will be gradually increased to 100% in the future under the share purchase agreement.