Lamb Weston acquires remaining interest in European joint venture Lamb-Weston/Meijer for €700 million
Clients Lamb Weston Holdings, Inc.
Jones Day is advising Lamb Weston Holdings, Inc. in the €700 million acquisition of the remaining equity interests in Lamb-Weston/Meijer v.o.f., its European joint venture with Meijer Frozen Foods B.V.
Upon completion of the transaction, Lamb Weston will own 100% of Lamb-Weston/Meijer v.o.f., formerly operated as a 50/50 joint venture between a wholly-owned subsidiary of Lamb Weston and Meijer Frozen Foods.
Lamb Weston will pay transaction consideration of €700 million, comprised of €525 million in cash and €175 million of Lamb Weston’s common stock. Subject to regulatory approvals, closing is anticipated to occur in the second half of Lamb Weston’s 2023 fiscal year.