The latest executive news and announcements in the food and beverage processing industry.

According to a Capstone Partners report, “February 2022 Food & Agriculture Sector Update,” merger and acquisition (M&A) volume in the food and agriculture sector surged 17% year-over-year (YOY) in 2021 with 383 deals announced or completed, which marked the highest number of transactions in over four years.

Fermented Food Holdings (FFH), established in late 2021, has acquired fermented-food brands Wildbrine and Bubbies. The fermented-foods category is expanding rapidly, expected to reach 10% CAGR by 2025.

 Kraft Heinz has completed its acquisition of an 85% stake in Germany-based Just Spices. The remaining 15% ownership stake has been retained by Just Spices’ three founders, who will continue on with the company and focus on driving the business and its international growth.

New poultry producer Pure Prairie Farms has completed the purchase of a former Simply Essentials chicken processing plant in Charles City, Iowa. The plant, which previously closed in August of 2019, is a state-of-the-art retail tray-packaging facility and features air-chill technology. The plant is scheduled to be fully operational by spring of 2022.

The J.M. Smucker Co. announced an agreement to sell its natural and organic beverage and grains businesses to Nexus Capital Management LP in a cash transaction valued at approximately $110 million.

Kraft Heinz has completed the sale of certain assets in its global cheese business and the license of certain trademarks to an affiliate of Groupe Lactalis for total consideration of approximately $3.3 billion, including cash consideration of approximately $3.2 billion. 

Préval AG, an international agri-food company headquartered in Quebec, has acquired the assets of J&G Foods, located in Sutton, Massachusetts. J&G is a custom and specialty case-ready fresh meat provider specializing in portioned organic and grass-fed beef, organic and natural chicken, natural pork and beef, and a variety of marinated and value-added meats.