M&A Deal Summary

Bob Evans Farms Acquires Pineland Farms Potato

On January 24, 2017, Bob Evans Farms acquired agriculture company Pineland Farms Potato from The Libra Foundation for 115M USD

Acquisition Highlights
  • This is Bob Evans Farms’ 1st transaction in the Agriculture sector.
  • This is Bob Evans Farms’ 2nd largest (disclosed) transaction.
  • This is Bob Evans Farms’ 2nd transaction in the United States.
  • This is Bob Evans Farms’ 1st transaction in Michigan.

M&A Deal Summary
Date 2017-01-24
Target Pineland Farms Potato
Sector Agriculture
Buyer(s) Bob Evans Farms
Sellers(s) The Libra Foundation
Deal Type Divestiture
Deal Value 115M USD

Target

Pineland Farms Potato

Mars Hill, Michigan, United States
Pineland Farms Potato Co. is an owns and operator of processing facility that transformed the thousands of acres of potatoes grown in the region from a commodity to a refrigerated ready-to-cook product.

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Buyer(S) 1

Buyer

Bob Evans Farms

New Albany, Ohio, United States
Category Company
Founded 1948
Sector Food
Employees7,471
Revenue 1.3B USD (2015)
DESCRIPTION

Bob Evans Farms, Inc. is a producer and distributor of refrigerated potato, pasta and vegetable-based side dishes, pork sausage, and a variety of refrigerated and frozen convenience food items under the Bob Evans and Owens brand names.

DEAL STATS #
Overall 2 of 2
Sector (Agriculture) 1 of 1
Type (Divestiture) 1 of 1
State (Michigan) 1 of 1
Country (United States) 2 of 2
Year (2017) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-24 Bob Evans Restaurants

New Albany, Ohio, United States

Bob Evans Restaurants is a chain of family style restaurants operating approximately 500 family restaurants in 18 states, primarily in the Midwest, mid-Atlantic and Southeast regions of the United States. Bob Evans Restaurants is focused on providing quality food and hospitality to every guest at every meal, each and every day. The Bob Evans Restaurants was founded in 1946 and is based in New Albany, Ohio.

Sell $565M

Seller(S) 1

SELLER

The Libra Foundation

Chicago, Illinois, United States
Category Company
Sector Business Services
DESCRIPTION

The Libra Foundation is a charitable organization operating in US.

DEAL STATS #
Overall 1 of 1
Sector (Agriculture) 1 of 1
Type (Divestiture) 1 of 1
State (Michigan) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-30 Pineland Farms Potato

Mars Hill, Michigan, United States

Pineland Farms Potato Co. is an owns and operator of processing facility that transformed the thousands of acres of potatoes grown in the region from a commodity to a refrigerated ready-to-cook product.

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