McCain Foods set to acquire Penobscot McCrum

McCrum
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Global frozen food manufacturer McCain Foods has announced the acquisition of North American frozen potato supplier Penobscot McCrum for an undisclosed amount.

The move is part of McCain’s strategy to strengthen its position in the North American market and create a larger network for its operations.  The deal’s completion is subject to meeting certain qualifying conditions.

As part of the acquisition, McCrum’s potato processing facility in Maine will be independently operated and enter into a potato supply agreement with McCain.

Howard Snape, regional president, North America, McCain Foods said: “As family-owned companies dedicated to producing foods families love, there is a lot of synergy between McCain and McCrum. We share a strong commitment to integrity, sustainability, and the highest-quality standards.


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“Both companies enjoy strong relationships with local farmers, and all of that will continue. On the ground, we expect this transition to be seamless for the newest additions to the McCain team and the McCrum farmers who grow potatoes for us.”

The 130 staff members at the Maine processing facility will become part of McCain, and the CEO and chief financial officer of the company will support the transition.

Jay McCrum, owner and CEO of Penobscot McCrum said: “This is a natural next step for the long-standing partnership between our farming operations and McCain Foods. We know McCain. We know their values. We have every confidence they will build on our family’s legacy while allowing us to continue to grow in agriculture, just as we have for more than five generations.”

The move is aimed at developing McCain’s supply chain, advancing innovation and leveraging McCrum’s processing facilities to create lower-cost and optimised products.

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McCain Foods set to acquire Penobscot McCrum

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Global frozen food manufacturer McCain Foods has announced the acquisition of North American frozen potato supplier Penobscot McCrum for an undisclosed amount.

The move is part of McCain’s strategy to strengthen its position in the North American market and create a larger network for its operations.  The deal’s completion is subject to meeting certain qualifying conditions.

As part of the acquisition, McCrum’s potato processing facility in Maine will be independently operated and enter into a potato supply agreement with McCain.

Howard Snape, regional president, North America, McCain Foods said: “As family-owned companies dedicated to producing foods families love, there is a lot of synergy between McCain and McCrum. We share a strong commitment to integrity, sustainability, and the highest-quality standards.


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“Both companies enjoy strong relationships with local farmers, and all of that will continue. On the ground, we expect this transition to be seamless for the newest additions to the McCain team and the McCrum farmers who grow potatoes for us.”

The 130 staff members at the Maine processing facility will become part of McCain, and the CEO and chief financial officer of the company will support the transition.

Jay McCrum, owner and CEO of Penobscot McCrum said: “This is a natural next step for the long-standing partnership between our farming operations and McCain Foods. We know McCain. We know their values. We have every confidence they will build on our family’s legacy while allowing us to continue to grow in agriculture, just as we have for more than five generations.”

The move is aimed at developing McCain’s supply chain, advancing innovation and leveraging McCrum’s processing facilities to create lower-cost and optimised products.

FMCGNews

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