Investindustrial strengthens its position in the food sector with two operations in the United States. The first operation involves an investment company indirectly held by Investindustrial VII LP which has signed a definitive agreement for the acquisition of a significant part of the food preparation division of TreeHouse Foods (active in the production and distribution of private label food products in the retail and catering channel in North America). Completion of the acquisition is expected to close in the fourth quarter and is subject to customary regulatory approvals. The company will maintain its headquarters in Chicago and will be controlled by Investindustrial.
The second transaction concerns the purchase of Parker Food Group (PFG). It is a company that deals with the development and production of special ingredients with high added value in the North American market, with particular attention to inclusions and toppings.
In a note it is specified that these two companies join the group that Investindustrial has created in the food sector, including La Doria, CSM Ingredients, Hi-Food and Italcanditi, which currently has a total turnover of around 1 billion euros. Further acquisitions in the food sector will be announced shortly, demonstrating the fact that Investindustrial aims to strengthen itself as a world-class player in the food sector.