M&As this week: AB Electrolux, Boelter Companies, Molinos Canuelas SACIFIA

Swedish household appliance and food-service equipment manufacturer AB Electrolux will acquire Vintec in a transaction that is expected to be closed in September.

Vintec is an Australian supplier of climate-controlled wine cabinets and offers its products under the brands of Vintec and Transtherm.

Premier Restaurant Equipment Company, a restaurant equipment company based in Minneapolis, US, has been acquired by Boelter Companies.

Boelter Companies is engaged in the design and supply of food service equipment to the food and hospitality industry.

Cargill, an agricultural commodity producer and trader, has agreed to sell its flour-milling unit in Argentina, which includes seven milling plants, to Molinos Canuelas SACIFIA.

Under the terms of the agreement, Molinos Canuelas will acquire the mills located in Buenos Aires, La Pampa, Santa Fe and Chaco along with the entire wheat growing and distribution operation.

Molinos Canuelas is an Argentinean food producer and exporter, which intends to grow its business in Central America and Africa through the acquisition.

Mezzan Holding Co. KSCC will establish a joint venture (JV) in Saudi Arabia’s food manufacturing and distribution sector with Al Faisaliah Group, a multi-business group. The deal is expected to be completed by August after obtaining regulatory approvals and fulfilling certain conditions.

Under the terms of the agreement, Kuwait-based Mezzan Holding will acquire a 70% stake in Al Safi Food Company using a capital increase, while the remaining 30% stake will be retained by Al Faisaliah Group, the current owner.

Mezzan Holding is expected to invest between KD7m ($23.17m) and KD7.7m ($25.48m) in the JV, aswell as intends to boost its business in Saudi Arabia’s food sector.

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Image: Vintec specializes in the manufacturing of a wide range of climate-controlled wine cabinets. Photo: courtesy of Electrolux.