Associated British Foods (ABF), the UK manufacturer of bakery, sugar and other grocery products, has unveiled the acquisition of Acetum, described as the leading Italian producer of Balsamic Vinegar of Modena, subject to competition clearance. Announcing the move in its latest trading update, the company said it had “ambitious plans” for the newly acquired firm and its brands. “The acquisition will broaden our international presence in speciality foods”, it said. …
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Associated British Foods
Associated British Foods (ABF) has announced that it has reached an agreement with Illovo Sugar to acquire the 48.65% interest in Illovo that it does not already own, in a deal worth around 5.6 billion ZAR ($389 million). ABF, a diversified international food, ingredients and retail group owning brands such as Twinings, Ovaltine and Ryvita, acquired its majority shareholding in Illovo in 2006. Commenting on the acquisition, ABF said in …
Three of the UK’s largest breakfast product manufacturers are battling to take over upmarket cereal producer Dorset Cereals. Kellogg, Weetabix, and Jordan’s Cereals – owned by Associated British Foods (ABF) – have all tabled offers to buy Dorset, the sale value of which is being estimated to be in excess of £50 million ($83 million). They are among a handful of bidders, with private equity firms also in the running. …
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