Lamb Weston / Meijer and RWA announced today that Lamb Weston/Meijer has signed an agreement to acquire 74% of the shares in Frisch & Frost Nahrungsmittel GmbH based in Hollabrunn, Austria.
Current owner RWA will keep the remaining shares. Both parties will continue operation of Frisch & Frost through a Joint Venture agreement. The transaction is subject to antitrust clearance and is expected to close in June 2010.
Frisch & Frost operates one potato and two dough producing facilities in Austria with net sales of approximately € 70 Million and employment of 280 people.
“The agreement, which expands Lamb Weston / Meijer’s production network, allows us to bring even greater value to our frozen potato customers in Central &South-eastern Europe, ” states Bas Alblas, managing director of Lamb Weston/Meijer.
“The Joint Venture means a real win-win-constellation to Frisch & Frost, its regional agricultural partners and Lamb Weston/Meijer", states Klaus Buchleitner, CEO of the RWA Group.” Operational synergies in Sales and Manufacturing and the complementary market positions are the biggest opportunities".
“Frisch & Frost will benefit from Lamb Weston / Meijer’s potato product and processing expertise,” states Gerfried Pichler, managing director of Frisch & Frost.