Mccain Foods Acquires Us Peer Penobscot Mccrum

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McCain Foods, nan Canada-based stiff murphy products giant, has struck a woody to get US adjacent Penobscot McCrum.

Financial position of nan woody were not disclosed.

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Penobscot McCrum, which produces products specified arsenic fries and wedges, is simply a family-owned business based successful nan authorities of Maine. The acquisition includes Penobscot McCrum’s murphy processing installation successful Washburn, Maine.

All 130 Washburn labor will move to McCain Foods.

In a statement, McCain Foods said nan acquisition will grow its North American footprint and “complement” its Easton, Maine plant.

The French fries shaper said incorporating Penobscot McCrum’s installation will “provide elasticity to prosecute modernisation, little costs [and] optimised processing”.

In a LinkedIn post, Max Koeune, president and CEO of McCain Foods, said: “This improvement represents an breathtaking opportunity to fortify location supply, support section jobs, and heighten work to customers crossed North America.”

Completion of nan woody is contingent connected nan fulfilment of customary closing conditions. 

The McCrum family farming business will stay independently owned and person signed a “long-term” murphy proviso statement pinch McCain Foods.

Jay McCrum, proprietor and CEO of Penobscot McCrum, said: “This is simply a earthy adjacent measurement for nan long-standing business betwixt our farming operations and McCain Foods.” 

Howard Snape, North America location president of McCain Foods, pointed to a “lot of synergy” betwixt nan 2 family-owned companies. 

McCain Foods operates 49 accumulation accommodation connected six continents and has astir 22,000 employees.

It partners pinch 3,900 farmers and generates much than C$16bn ($11.4bn) successful yearly sales.

In April 2024, McCain Foods acquired Irish plant-based frozen-food institution Strong Roots for an undisclosed fee. The deal built connected a move announced successful 2021 that saw McCain Foods bargain a number liking successful nan business.

A period later, McCain Foods said it would invest much than €350m ($377.8m) successful France to create accumulation accommodation and fortify its competitiveness there.

The aforesaid year, nan institution sold its frozen-pizza assets successful Argentina to Molinos Río de la Plata and its Dutch caller murphy business to section investor Nimbus.

In November 2024, McCain Foods was among a group of frozen-potato merchandise suppliers facing US lawsuits linked to claims of price-fixing.