Lamb Weston Holdings has entered into an agreement to acquire Ready Meals Pty Ltd, a frozen potato processor in Australia situated about 34 kilometers southeast of Melbourne, for an undisclosed price. The company sells frozen potato products under the Harvest Choice brand and operates frozen potato manufacturing and storage facilities in Hallam, Victoria.
“The Ready Meals acquisition is the continuation of our strategic work to strengthen and expand global capabilities,” said Tom Werner, president and chief executive officer of Eagle, Idaho, USA-headquartered Lamb Weston. “The acquisition complements our presence in Australia, providing us with additional avenues to increase our position in Australia’s 1.1 billion pound market.”
The Ready Meals operation adds approximately 70 million pounds of production capacity to Lamb Weston’s existing global manufacturing network. Upon completion of the transaction, Lamb Weston will own and operate 18 processing facilities worldwide, plus an additional eight facilities in conjunction with its joint venture partners.
The deal marks Lamb Weston’s second purchase of a frozen potato processor in Australia in less than a year. In early January it acquired Hallam-based Marvel Packers, a former Lamb Weston products co-packer that produces Marvel and Farmers Best brand french fries, potato cakes and specialty items.