Fehr Play for Grupo Nacional de Chocolates
September 24/FactSet Flashwire -- Grupo Nacional de Chocolates SA agreed to acquire Fehr Foods Inc. for $84 million in cash. The acquisition will allow Grupo Nacional de Chocolates SA to expand its range of brand of cookies.
Grupo Nacional de Chocolates SA intends to use its own resources and bank loans secured by its subsidiaries to finance the transaction. Included in the acquisition are Fehr Foods Inc's production facilities in Texas and Oklahoma.
The purchase price is subject to compliance of operating performance within the current fiscal year, which if not achieved, will result in a discount of up to $4 million. In 2009, Fehr Foods Inc. had revenues of $62.7 million. The deal is subject to the approval of the Federal Trade Commission and other conditions. Based in Texas, Fehr Foods Inc. is a cookie and cracker manufacturer which it markets through the Lil´ Dutch Maid, Sun Valley and Tru-Blu brands.
From the October 4, 2010, Prepared Foods E-dition