Investments · Food (packaged meals)
Kagome buys 70% of Tasty Bite owner Preferred Brands International
- Investor
- Kagome (Nagoya)
- In
- Preferred Brands International (Tasty Bite), Stamford, Connecticut
- Value
- About $80M–$82M for 70% (adviser and law-firm figures; Kagome's notice gives no price)
- Status
- Completed on May 18, 2015, according to Kagome's adviser.
- Date
- 2015-04-15
Kagome bought 70% of Preferred Brands International, a Connecticut company that sells ready-to-eat Indian and Asian meals under the Tasty Bite brand. The deal also gives Kagome an indirect 51.95% of Tasty Bite Eatables, the India-listed subsidiary that makes the products. Kagome's notice gave no price; its financial adviser and a law firm put the value at about $80 million to $82 million.
Why it matters
The purchase gave Kagome a branded packaged-food business in North America and a production base in India.
Sources
Kakehashi M&A News home
