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Bonduelle to acquire Ready Pac Foods, the US leader of single-serve salads bowls

Bonduelle, the world leader of ready-to-eat vegetables, present in canned, frozen, fresh cut and delicatessen has executed an agreement to acquire Ready Pac Foods, the U.S. market leader in single serve salad bowls.

Based in California, Ready Pac Foods is the #1 producer of single-serve salad bowls in the U.S. through its Bistro Bowl® suite of products and its legacy of innovation and culinary expertise. Ready Pac Foods is also a producer of fresh-cut produce, offering packaged salads, fresh-cut fruits, and mixed vegetables to its retail and foodservice customers. With 4 production facilities located in Irwindale (CA), Jackson (GA), Florence and Swedesboro (NJ), and employs about 3,500 full-time employees. Ready Pac Foods generates approximately $800m of revenues, with a national presence in the U.S. and a wide customer base.

This milestone transaction is a key step in Bonduelle’s strategic ambition VegeGo! 2025 of being “the world reference in “well living” through vegetable products”. This acquisition will strengthen Bonduelle’s international footprint and dramatically change its profile, making the U.S. the largest country of operations, continuing a longstanding track record of successful acquisitions in North America, in particular Aliments Carrière, Canada, in 2007 and Allens, USA in 2012, and the fresh category, its first business segment. This transaction will also offer new opportunities to Ready Pac Foods business partners and deliver significant value to Bonduelle’s shareholders.

This acquisition, which is fully compatible with Bonduelle’s strong financial profile, perfectly fits with its strategic plan and will strengthen its leadership positions in its core business lines:

- development of Bonduelle’s business in the consumer convenience and healthy food segments,

- increasing presence in the fast growing segment of fresh prepared vegetables,

- reinforcement of footprint in North America, of a size, post transaction, equivalent to the European Union in Bonduelle’s geographical portfolio.

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RP carrées Netco Group

Benjamin ZEHNDER +33.(0)6.76.41.18.19 benjamin.zehnder@rp-carrees.com

Vanessa VAZZAZ +33.(0)6.34.32.24.23 vanessa.vazzaz@rp-carrees.com