Jun 22, 2019Lamb Weston acquires Australian potato processor Harvest Choice
Lamb Weston Holdings (LW) announced June 21 that it has entered into an agreement to acquire Ready Meals Pty Ltd (Ready Meals), a frozen potato processor in Australia. Terms were not disclosed.
“The Ready Meals acquisition is the continuation of our strategic work to strengthen and expand our global capabilities,” said Tom Werner, President and CEO of Lamb Weston. “The acquisition complements our presence in Australia, providing us additional avenues to increase our position in Australia’s 1.1 billion pound market.”
The Ready Meals facility adds approximately 70 million pounds of production capacity to Lamb Weston’s existing global manufacturing network. Upon completion of the transaction, Lamb Weston will own and operate 18 processing facilities worldwide, and an additional eight facilities in conjunction with its joint venture partners. The closing of the transaction is subject to customary closing conditions and is expected to be completed as soon as practicable.
Lamb Weston, along with its joint venture partners, is a leading supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers around the world.