Lamb Weston Holdings, Inc. (NYSE: LW) BB #:132979 announced today that it has acquired Marvel Packers Pty Ltd (“Marvel”), a frozen potato processor in Australia. Terms were not disclosed. Marvel operates frozen potato processing and storage facilities in Hallam, Victoria.
“Our purchase of Marvel is part of our strategy to strengthen our global capabilities and continue to drive growth both organically and through acquisitions,” said Tom Werner, President and CEO. “Marvel not only provides us with an opportunity to increase our position in Australia’s 1.1 billion pound market with in-country production, it also creates new avenues to serve our customers.”
The Marvel facility adds approximately 50 million pounds of production capacity to Lamb Weston’s existing global manufacturing network. Including the newly-acquired Hallam facility, Lamb Weston will own and operate 16 processing facilities worldwide, and an additional 9 facilities in conjunction with its joint venture partners.
About Lamb Weston
Lamb Weston, along with its joint venture partners, is a leading supplier of frozen potato, sweet potato, appetizer and vegetable products to restaurants and retailers around the world. For more than 60 years, Lamb Weston has led the industry in innovation, introducing inventive products that simplify back-of-house management for our customers and make things more delicious for their customers. From the fields where Lamb Weston potatoes are grown to proactive customer partnerships, Lamb Weston always strives for more and never settles. Because, when we look at a potato, we see possibilities. Learn more about us at lambweston.com.
Contact: Shelby Stoolman, 208-424-5461, shelby.stoolman@lambweston.com
