Lamb Weston Holdings has announced that it has acquired Marvel Packers Pty Ltd, a frozen potato processor in Australia.
Terms were not disclosed. Marvel operates frozen potato processing and storage facilities in Hallam, Victoria.
“Our purchase of Marvel is part of our strategy to strengthen our global capabilities and continue to drive growth both organically and through acquisitions. Marvel not only provides us with an opportunity to increase our position in Australia’s GBP1.1 bn market with in-country production, it also creates new avenues to serve our customers,” said Tom Werner, president and CEO.
The Marvel facility adds approximately GBP50 m pounds of production capacity to Lamb Weston’s existing global manufacturing network. Including the newly-acquired Hallam facility, Lamb Weston will own and operate 16 processing facilities worldwide and an additional nine facilities in conjunction with its joint venture partners.