Aryzta intends to raise €800m ($911m) from shareholders in order to reduce its debts and fortify its capital structure.

The company has elected to raise the funds following a review of its current growth strategy and capital infrastructure.

BofA Merrill Lynch, UBS and Rothschild & Co assisted Aryzta during the detailed review process.

Glanbia Nutritionals, Dairy Farmers of America (DFA) and selec Milk Producers have confirmed that their new joint venture (JV) facility will be built in St Johns, Michigan.

The $470m cheese and whey production plant is slated to be commissioned in the fourth quarter of 2020.

The facility is expected to have the capacity to process eight million pounds (lb) of milk per day, which will be used in the production of different cheese and whey products for both domestic and international markets.

“Glanbia Nutritionals, Dairy Farmers of America (DFA) and selec Milk Producers have confirmed that their new joint venture (JV) facility will be built in St Johns, Michigan.”

Proliant Dairy Ingredients has agreed to process whey permeate at the site as part of the initiative.

The company will also invest $85m in a neighbouring facility under the arrangement.

Tyson Foods has agreed to sell its pizza crust business TNT Crust to Peak Rock Capital for an undisclosed sum.

TNT Crust was founded in 1981 and primarily produces partially baked and self-rising pizza crusts.

The company operates two manufacturing facilities in Green Bay, Wisconsin, and employs more than 400 personnel.

Goldman, Sachs & Co is acting as financial adviser for Tyson Foods in support of the transaction.

Blackstone has agreed to sell Tangerine to Valeo Foods for £100m ($127m).

Blackstone is an investment firm based in the US, while Valeo Foods is an Irish producer of branded food and beverage products.

Tangerine’s Dip Dab, Fruit Salad and Blackjack brands will be added to Valeo’s Big Bear Confectionery range upon completion of the transaction.

The acquisition also covers Tangerine’s five confectionery UK-based production sites, which are situated in Liverpool, York, Blackpool, Pontefract and Cleckheaton respectively.

The deal will enable Valeo to improve its presence in the UK confectionery market.

Olympus Partners has completed the acquisition of Rise Baking from Arbor Investments for an undisclosed sum.

Olympus Partners is a private equity firm that was originally founded in 1988, while Rise Baking is a baked goods company that produces premium cookies, dessert bars, artisan breads, and flatbreads.

Rise Baking employs more than 1,000 employees across its six facilities in North America.

Both companies involved in the transaction are based in the US.

Freedom Foods Group has agreed to acquire Crankt Protein for a consideration of A$2.3m ($1.6m).

The acquisition is intended to allow Crankt to expand its presence within Australia’s everyday, ‘on-the-go’ nutrition market by leveraging Freedom Foods’ current retail customers and distribution capabilities.

It will also enable Freedom Foods to improve the distribution of its product range across petrol and convenience chains.

In addition, the deal will support the Freedom Foods Vital Strength brand, which offers a range of sports and nutrition products.

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