Sigma Launches Bid To Acquire Campofrio


News: Mexico-based refrigerated and frozen food producer Sigma Alimentos, an affiliate of Mexican conglomerate Alfa, has launched a EUR6.8-per-share acquisition bid for Spanish food company Campofrio Food Group. Sigma's offer values Campofrio's share capital at EUR675mn (US$908mn) and values the company at EUR1.12bn (US$1.5bn). Sigma stated that its offer provides a premium of 18.7% on the 45-day average trading price of Campofrio's equity. The move will enable Sigma to enter the European food market with a portfolio of high-profile brands, said Sigma CEO Mario Paez.

This article is tagged to:
Sector: Food & Drink
Geography: Mexico