Bonduelle acquires Ready Pac Foods
Bonduelle, a vegetable producer, has entered into an agreement to acquire Ready Pac Foods, the U.S. producer of convenience fresh meal solutions, salads, and fresh cut produce.
Bonduelle, a vegetable producer, has entered into an agreement to acquire Ready Pac Foods, the U.S. producer of convenience fresh meal solutions, salads, and fresh cut produce. The transaction is expected to close by the end of March 2017 following routine regulatory reviews and approvals. Upon closing, Bonduelle will acquire 100% of the common stock of Ready Pac Foods and plans to run the business as a wholly-owned subsidiary.
The acquisition will help fuel the growth of both companies in the fresh food space. Bonduelle will expand its fresh business, one of the fastest growing categories in vegetables, to the United States, a market in which it has limited presence. The move will make the United States the largest country of operation for Bonduelle. Ready Pac Foods will benefit from a greater level of investment in its growth, innovation, and global reach. In addition to shared business goals, the companies also share strong cultural ties including corporate social responsibility and key core values.
“Ready Pac Foods has seen significant growth over the last several years and joining forces with Bonduelle validates our current business approach,” said Tony Sarsam, CEO of Ready Pac Foods. “This is a fantastic new chapter for our 3,500 associates and a great step forward. We are thrilled with this investment in our company strategy, and know Ready Pac Foods is going to be right at home with the Bonduelle family of companies.”
Upon closing, Sarsam will continue to lead Ready Pac Foods, reporting directly to Christophe Bonduelle, chairman and CEO of Bonduelle. There will be no changes to Ready Pac Foods leadership team.