Specialty Food Magazine is the leading publication for retailers, manufacturers and foodservice professionals in the specialty food trade. It provides news, trends and business-building insights that help readers keep their businesses competitive.
Issue link: https://www.e-digitaleditions.com/i/838473
specialty food maker mergers & acquisitions A roundup of consolidations impacting the specialty food world. UNILEVER ACQUIRES SIR KENSINGTON'S Unilever will acquire specialty condiment maker Sir Kensington's, which manu- factures non-GMO mustard, ketchup, mayonnaise, and vegan mayo, for an undis- closed amount. The move by Unilever, which earlier this year fended off a $143 billion takeover by Kraft Heinz Co., indicates a refocus on its food portfolio, par- ticularly condiments. Vermont Creamery Becomes Subsidiary of Land O'Lakes Vermont Creamery co-founders Bob Reese and Allison Hooper and Land O'Lakes Inc. President and CEO Chris Policinski have announced their businesses have joined forces. Vermont Creamery will become an independently operated subsid- iary of Minnesota-based Land O'Lakes, and will continue to produce aged goat cheeses, cul- tured butter, and fresh dairy at the creamery in Vermont. Reese and Hooper will serve as advisors and brand ambassadors for the business, and President Adeline Druart will remain in place, as will all employees of the business. JAB TO BUY PANERA BREAD JAB Holding Co. has agreed to acquire Panera Bread Co. for approximately $7.5 billion. JAB's portfolio also includes Krispy Kreme Doughnuts, Keurig Green Mountain, Peet's Coffee & Tea, and Stumptown Coffee Roasters. Panera investors are set to receive $315 per share in cash, which is 20 percent higher than the closing price on March 31, the last trad- ing day before Panera's consideration of the sale was reported. 130 ❘ SPECIALTY FOOD MAGAZINE specialtyfood.com