Industry & People: June 2011
June 1, 2011
Conagra Foods, Inc. made a pro- posal to Ralcorp Holdings, inc. to acquire Ralcorp for $86 per share in cash, or approximately $4.9 billion plus the assumption of $2.5 billion in debt.
Cargill’s Wichita-based pork business completed a transaction to acquire a 21,500-acre hog production site near Dal- hart, TX from the Premium standard Farms llC subsidiary of smithfield Foods, inc.
Steven sterling is joining Kellogg Company as senior vice president, global supply chain, and will serve as a member of the company’s executive lead- ership team.
Dean Foods Company is actively seeking a buyer for its milk processing, selling, marketing and distribution busi- ness located in Waukesha, WI. The com- pany agreed to sell the plant and related business as part of the March 29, 2011 settlement agreement reached with the US Department of Justice and the states of Wisconsin, Illinois and Michigan. The divestiture includes the 170,000-sq.-ft. fluid dairy processing facility and equipment, the Golden Guernsey and La Vaca Bonita brands, and other related assets.
Nestlé signed a partnership agreement taking a 60 percent stake in the Chinese food company Yinlu Foods group. Yinlu’s chairman, Chen Qingyuan, will continue to lead the company in the new partnership.
Kraft Foods opened a new $80 million manufacturing plant in Pernambuco, Brazil. The plant will produce chocolate and powdered beverages and start a biscuit line in 2012.
SABMiller plc and Molson Coors Brewing Company announced the appointment of MillerCoors President and Chief Commercial Officer Tom long as the company’s new chief exec- utive officer following CEO Leo Kiely’s decision to retire.
Santa Monica seafood acquired the customer base, corporate name, inventory and other assets of long Beach sea- food Co.
Lawson software, inc. signed a definitive agreement to be acquired by ggC software Holdings, inc., an affiliate of golden gate Capital and infor, in a transaction valued at approxi- mately $2 billion.
Dale Morrison, president and CEO of McCain Foods limited, announced the passing of g. wallace F. McCain, cofounder of the company.