M&As this week: Greencore, Frutarom

Chilled and frozen foods producer Greencore has announced its intention to acquire Peacock Foods, a convenient foods producer, with the aim of strengthening its position in the US market and sustain its profitable growth.

Based in the US, the target company produces convenience foods such as frozen breakfast sandwiches, kids’ snack kits and salad kits.

Flavouring manufacturer Frutarom has reached an agreement with Grupo Piasa to buy 75% of the latter’s shares for approximately $20.5m.

The target company’s main production site in Monterrey, Mexico, will also be acquired as part of the transaction, following which the site will serve as Frutarom’s headquarters.

The acquisition is expected to help Frutarom to increase its market share in Latin America.