M&As this week: AGT Food and Ingredients, US Foods Holding Corp, 1908 Brands

AGT Food and Ingredients (AGT) has received a non-binding proposal worth CNY902.89m ($688.61m) for the company’s privatisation from its management group, which is led by AGT’s president and CEO.

The management group plans to purchase all of the issued and outstanding common shares in AGT for CNY18 ($2.63) each as part of the proposal.

Fairfax Financial Holdings Limited and Point North Capital Inc are set to retain their equity interests in AGT following the transaction.

The other senior management team members will also retain their current management positions within AGT.

AGT Food and Ingredients is a Canadian producer and exporter of pulses.

US Foods Holding Corp has entered an agreement to purchase Systems Services of America, Services Group of America, GAMPAC Express, Food Services of America, Ameristar Meats and Amerifresh from Services Group of America (SGA) for a total of $1.8bn.

US Foods will initially fund the acquisition via a $1.5bn loan, which will be financed by JP Morgan and Bank of America Merrill Lynch.

The balance amount will be paid through its existing liquid resources.

US Foods Holding Corp, through its subsidiary US Foods, is engaged in the marketing and distribution of fresh, frozen and dry food and non-food products, while Services Group of America is a holding company.

Amerifresh is a fresh fruits and vegetables distributor, while Ameristar Meats is a producer of meat products and Food Services of America is a foodservice distributor.

GAMPAC Express is primarily involved in the provision of transportation and logistics services to the food industry and Systems Services of America is a provider of customised foodservice distribution solutions for the restaurant sector.

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

The acquisition will enable US Foods to expand its footprint across the Northwestern US.

1908 Brands has entered an agreement to acquire Bundle Organics.

1908 Brands is a manufacturer and marketer of natural product brands, while Bundle organics is engaged in the production of organic pre-natal juices.

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

The acquisition is expected enable 1908 Brands achieve its targets and support the company’s plan for future development.

Lanzhou Zhuangyuan Pasture Co has agreed to purchase an 82% stake in Xi’an Dongfang Dairy Company Limited from Beijing Ruili Caifu Investment Partnership Enterprise, Hu Keliang, Li Yanan, Ding Jianping and Zhang Chenbin for a sum of RMB249m ($36.7m).

Xi’an Dongfang Dairy will become a subsidiary of Lanzhou Zhuangyuan Pasture following the completion of the transaction.

Lanzhou Zhuangyuan Pasture primarily manufactures, markets and sells dairy products, while Xi’an Dongfang Dairy is a producer and seller of dairy products.

All the companies involved in the transaction are based in China.

Perwyn private equity funds have acquired Isla Delice from its founders and financial investor.

Isla Delice is a French provider of food products, while Perwyn is a private equity investment firm based in the UK.