Lamb Weston Holdings, Inc. (LW): M&A transaction — Lamb Weston completes acquisition of remaining 50% stake in European JV for €525M cash and 1.95M shares

Lamb Weston Holdings, Inc.

Total consideration: €525M cash (subject to adjustments) plus 1,952,421 shares of LW common stock.
Adds five manufacturing facilities in Netherlands and UK, plus a sixth via 75% interest in Austrian JV.
Annual production capacity of nearly 2 billion pounds (910,000 MT) of frozen potato products.
Lamb-Weston/Meijer will now be fully consolidated; previously recorded as equity method investment.
Transaction closed on February 28, 2023; originally announced in October 2022.

item 2.01 item 1.01 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Lamb Weston Holdings, Inc. completed an acquisition involving Meijer Beheer B.V. for approximately €531.6 million (including approximately €6.6 million of interest payable pursuant to the Purchase Agreement) and 1,952,421 shares of LW’s common s (closed 2023-02-28).

Action: acquisition
Counterparty: Meijer Beheer B.V.
Consideration: approximately €531.6 million (including approximately €6.6 million of interest payable pursuant to the Purchase Agreement) and 1,952,421 shares of LW’s common s
Closing: 2023-02-28

Exact text from the filing

On the Closing Date, LW, through its wholly owned subsidiary LWH, acquired from MB 100% of the equity interests in MFF for a purchase price consisting of (i) cash consideration of approximately €531.6 million (including approximately €6.6 million of interest payable pursuant to the Purchase Agreement), subject to certain post-closing adjustments pursuant to the Purchase Agreement, and (ii) the LW Shares, as discussed above.

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Lamb Weston Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-027412

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