Consolidations leading to plant closures, study shows
Since improved efficiency is a prime driver of mergers and acquisitions, it's not surprising that the consolidation of the U.S. food industry is resulting in the closure of less efficient food plants.
Some 141 plants in the U.S. and Canada closed their doors this year alone, and more than 85 major mergers and acquisitions were made, with more in the works or pending by year end, according to Industrial Information Resources, Inc (IIR).