The deal will complement McCain’s Mehsana operations in Gujarat; commercials were not disclosed.
McCain Foods on Monday said it has entered into an agreement to acquire Falcon Agrifriz Foods’ frozen potato processing business in Gujarat, India. The company said the acquisition will complement McCain’s existing operations in Mehsana, Gujarat, strengthening its manufacturing footprint and creating a strong platform to support future growth and serve growing domestic demand and key export markets.
The acquisition comes after McCain’s recent investment in India, including the completion of a $135 million CAD expansion of its existing operations in Gujarat. The company did not reveal the commercials of the transaction. It said the acquisition is part of its long-term growth strategy in India and that closing is subject to the satisfaction of customary closing conditions.
“India continues to be a priority growth market for McCain Foods,” said Pierre Danet, Regional President, Asia Pacific and South Africa at McCain.
Falcon Agrifriz operates a modern potato processing facility in Gujarat, producing a range of frozen potato products for domestic and international markets. It has over 450 employees and relationships with over 1,000 farmers across Gujarat.
Source: The Hindu Business Line
