Deals this week: Ruth’s Hospitality Group, Cargill, Fonterra Co-operative Group

Ruth’s Hospitality Group has reached an agreement with franchise partner Desert Island Restaurants to acquire six Hawaii Ruth’s Chris Steak House locations for approximately $35m in an all-cash deal.

Ruth’s Hospitality Group operates a chain of upscale steakhouses located in Honolulu, Waikiki, Lahaina, Wailea, Mauna Lani, and Kauai.

Both the companies involved in the transaction are based in the US.

At the World Food India Conference, US-based food and agriculture company Cargill has signed a memorandum of understanding (MoU) with India Ministry of Food Processing Industries with regards to an investment of $240m in India over the next five years.

The investment is estimated to generate 1,300 jobs and is expected to increase food safety and economic development of the country while benefitting the food processing and agriculture industries.

The company will invest the amount in its core businesses, which includes refined oils, food ingredients, grain and oilseeds, cotton, and animal nutrition business.

Fonterra Co-operative Group has reached an agreement to become an equal shareholder in whey protein concentrate and lactose manufacturing company Columbia River Technologies joint venture (JV).

Formed in 2013 between the Tillamook County Creamery Association (TCCA) and Threemile Canyon Farms, the JV is aimed at increasing TCCA’s cheese-making plant efficiency while increasing value for the natural whey and lactose by-products.

Columbia River Technologies has been producing whey protein products at a production facility in Boardman, Oregon, for five years.