Completed numerous acquisitions in an effort to grow its operations
The company has placed effort toward growing its business through numerous acquisitions. For example, it spent approximately $211 million on acquiring most of the remaining equity interest shares of Hemmer, a company that manufacturers Brazilian beverages and foods, specializing in sauces and condiments. Additionally, the company acquired the remaining equity interests in food manufacturer Assan Gida Sanayi ve Ticaret A.S. (Assan Foods) in October 2021 for an estimated $79 million. Soon after, in December of that same year, the company made definitive plans to acquire 85% of the shares of Just Spices, a company based in Germany that produces blends of premium spices, for an approximate $243 million.
M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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