France’s Bonduelle has agreed to acquire salad bowl and fresh-cut specialists, Californian Ready Pac Foods, as part of a long-term strategy to strengthen its position as a innovator of fresh food products.
Bonduelle has a long history in ready-to-eat foods and has executed an agreement to buy the U.S. market leaders in single serve salad bowls.
But for now, it is keeping tight-lipped about the financial side of the agreement, saying full details will be revealed in the company’s half-year results on March 2.
Ready Pac Foods generates around US$800 million (£637.9m) through its presence in US markets and a wider customer base, producing fresh-cut fruit, packaged salads and mixed vegetables to retail and the foodservice sector.
It has four production facilities across the US and employs around 3,5000 people.
Bonduelle describes this as a “milestone transaction” which forms part of its strategic “VegeGo! 2025” ambition to be considered a “world reference” in living well through vegetable products.
“We welcome all of the Ready Pac Foods employees into the Bonduelle family. We look forward to working with the highly skilled and successful Ready Pac Foods management team in bringing together two great companies in the vegetal food industry,” said Bonduelle’s chairman and CEO, Christophe Bonduelle.
“This acquisition shows Bonduelle’s ambition to further develop as a global leader in its markets and strengthen its positions in the consumer convenience and health segments to meet consumers’ needs.”
Ready Pac Foods will become Bonduelle fifth business unit, dedicated to the Fresh business in the Americas, along with Bonduelle Long Life Europe (BELL), Bonduelle Fresh Europe (BFE), Bonduelle Eurasia Markets (BEAM) and Bonduelle Americas (BAM), the latter being devoted to canned and frozen vegetables in Americas.
“We are thrilled to partner with market leader Bonduelle in our next chapter of growth and feel we will be right at home within the Bonduelle family of companies,” said Ready Pac Foods CEO, Tony Sarsam.
“Beyond common business goals, both companies share a common purpose – to help people live healthier lives through innovative fresh food products. I am enthusiastic about Bonduelle’s investment in our growth strategy and for the great success we will achieve together.”