Don Miguel Sold
September 7/M&A Navigator -- Megamex Foods has agreed to fully acquire Don Miguel Foods from private equity fund TSG4 and private investors, aiming to expand its portfolio and strengthen its business, Megamex said without specifying the terms of the deal.
The acquisition, expected to close in October 2010, is in line with Megamex' goal to provide a full range of Mexican foods to its clients, the company's chairman Enrique Hernandez-Pons Torres said. The deal will also allow Megamex to boost its presence in the country's leading stores and supermarkets, managing director Luis G. Marconi added.
Don Miguel Foods provides fresh and frozen Mexican flavored appetisers and snacks.
Megamex Foods is a joint venture between U.S. food company Hormel Foods Corporation and Mexican sector firm Herdez Del Fuerte.
From the September 20, 2010, Prepared Foods E-dition