BAXTERS Food Group has unveiled a second major acquisition in the US market.
The Fochabers-based soups and condiments maker has clinched a deal to buy Truitt Bros Inc, a leading contract manufacturer of shelf-stable, thermally processed foods.
Truitt has annual revenues of $100 million and more than 500 employees who work across two sites, the company's headquarters in Salem, Oregon, and in East Bernstadt, Kentucky.
The deal follows Baxters’ 2014 acquisition of Wornick, a US supplier of military rations. Baxters currently employs 500 at that division.
The value of the Truitt acquisition was not disclosed.
Audrey Baxter, executive chairman and group chief executive of Baxters, said: “W.A. Baxter & Sons (Holdings) Ltd, owners of Baxters Food Group, has confirmed the acquisition of US based Truitt Bros Inc. for an undisclosed sum.”
“Truitt Bros is an industry innovator, providing high quality customised products to a wide variety of food companies across the US.”
“The acquisition is a vital part of our US and global growth strategy and offers us the opportunity to capitalise on our existing US business.”
“We will be working closely with the leadership teams at Truitt and Wornick to develop an integrated North American business.”
Baxters sold its Canadian business in 2018.
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