A second big acquisition in the U.S. market has been announced by BAXTERS Food Company.
The soup and seasoning manufacturer based in Fochabers has entered into an agreement to purchase Truitt Bros Inc, a leading contract manufacturer of thermally prepared, shelf-stable foods.
Truitt has $100 million in annual revenue and hires more than 500 people at two sites, the company’s Salem, Oregon, and East Bernstadt, Kentucky, headquarters.
The deal follows Baxters’ 2014 purchase of Wornick, a U.S. military ration provider, in which 500 employees are currently employed by Baxters.
There was no disclosure of the valuation of the Truitt purchase.
W.A. Baxter & Sons (Holdings) Ltd, owner of Baxters Food Group, has reported the acquisition of U.S.-based Truitt Bros Inc. for an undisclosed amount,”W.A. Baxter & Sons (Holdings) Ltd, owner of Baxters Food Group, has confirmed the acquisition of U.S.-based Truitt Bros Inc. for an undisclosed sum.”
“Truitt Bros is an industry innovator that supplies high-quality, customized products to a variety of food companies in the U.S.”
“The acquisition is an important part of our U.S. and global growth strategy and provides us with an opportunity to capitalize on our existing U.S. business.”
“We will work closely with the Truitt and Wornick leadership teams to develop an integrated North American business.”
In 2018, Baxters sold its Canadian company.