Flagship Food Group has agreed to terms to acquire Atlantic Foods Group Ltd.
May 9/Los Angeles/PRNewswire -- Flagship Food Group has agreed to terms to acquire Atlantic Foods Group Ltd. The transaction will bring together two businesses focused on developing, sourcing, manufacturing, and distributing a wide range of food products for retail and restaurant customers. U.K.-based Atlantic Foods Group will bolster Flagships' international presences while adding a line-up of food service products and customers. The combined business is expected to generate approximately $300 million in annual turnover, operating seven facilities in five time zones. Terms of the proposed transaction were not disclosed.
Rob Holland, CEO of Flagship, said, "The acquisition of Atlantic Foods Group will represent an excellent opportunity for us to further develop our global food business, building on the successful acquisitions we have achieved to date. It will provide new competencies for us in the fast growing food-service markets and extend our geographic footprint into Europe."