With a $3.2 million investment, Rich’s transformed an underutilized space into a modern, digitally powered destination designed to create greater value for customers.
Hormel Foods says the acquisition advances its strategy of investing in growing protein categories and is expected to strengthen its foodservice platform.
The investment encompasses capacity and efficiency enhancements across Cargill’s entire poultry network in Thailand and the Philippines and will help strengthen supply chain resilience, enhance food safety, quality and innovation.
The company says consolidating production at its facility in Indianapolis, Indiana will create a more efficient manufacturing network, improve capacity utilization, reduce operational complexity and establish a focused Centre of Excellence.
The company says these investments will help Anheuser-Busch increase production of Michelob ULTRA and Cutwater and expand local manufacturing skills training.
The company says net proceeds are expected to range between $305 million and $310 million, and upon closing of the transaction, the proceeds would be used to reduce the company’s debt.
As part of an expanded partnership with Keurig Dr Pepper, Chobani will acquire its manufacturing facility and warehouse in Allentown, Pennsylvania, including its equipment and related infrastructure.
The company says the additions will help meet the growing need for natural color solutions as more major brands and retailers transition away from synthetic food dyes.
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