M&As this week: Bunge North America, Samworth Brothers, Swell Chicago

Bunge North America will acquire a controlling stake in Grupo Minsa after reaching a subscription agreement to invest in the company.

Grupo Minsa is a producer and retailer of corn flour based in Mexico, whereas Bunge North America is an agribusiness and food ingredient company.

Under the terms of the transaction, Grupo Minsa’s four mills in Mexico and two mills in the US will be acquired by Bunge North America.

Expected to be completed in early next year, the transaction is in line with Bunge North America’s strategy to boost its business in the Mexican corn masa market.

UK grocery and general merchandise retailer Tesco will sell its Euphorium bakery plant in Weybridge to Samworth Brothers, a food manufacturer based in Leicestershire.

In a separate transaction, Soho Coffee Co. will acquire the company’s Euphorium bakery business.

Swell Chicago (Cooked Chicago) has acquired prepared food delivery service Chefmade, in a bid to bolster its position in the meal delivery market.

Following the transaction, the founder and CEO of Chefmade will join Cooked Chicago as a director.

Leading snack maker Mondelez International has completed the acquisition of Vietnam’s Kinh Do Corp after purchasing the remaining 20% stake in the company for VND2tn ($90m). Mondelez earlier acquired an 80% stake for $370m in 2014.

Kinh Do Corp’s snack unit will be owned completely by Mondelez following the transaction and the brand name will be changed to Mondelez Kinh Do.

Mondelez aims to expand its business in the Vietnamese market through the acquisition of the manufacturer of biscuits, soft cakes and seasonal moon cakes.

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Image: Mondelez International has acquired Vietnamese confectionery Kinh Do Corp. Photo: courtesy of lorimalhiot via Pixabay.