Recently, Lamb Weston Holdings, Inc. announced that it had finished buying the remaining stock stakes in its joint venture in Europe with Meijer Frozen Foods B.V. 1,952,421 shares of Lamb Weston common stock and EUR525m in cash, subject to certain adjustments, made up the total deal consideration. In October 2022, the Company declared its intention to buy the stake.

“Having completed the transaction, Lamb Weston owns 100% of Lamb-Weston/Meijer, v.o.f., which formerly operated as a 50/50 joint venture between a wholly-owned subsidiary of Lamb Weston and Meijer Frozen Foods. With the acquisition, the Company adds five manufacturing facilities to its footprint worldwide, including four facilities in the Netherlands and one in the United Kingdom, as well as a sixth manufacturing facility operated through a 75% interest in a joint venture in Austria. These facilities produce nearly two billion pounds (910,000 MT) of finished frozen products annually,” according to a recent company press release.

Although it owned 50% of Lamb-Weston/Meijer, the Company recorded its 50% share of investment profits in the equity method in its financial records. Lamb-Weston/Meijer will become a wholly-owned subsidiary of the company as of the transaction’s closing, and the company will completely consolidate Lamb-Weston/financial Meijer’s results.