Arca Continental Grabs Wise Foods
Arca is a bottling company that also sells Bokados-brand snack foods
Arca Continental SAB de CV has purchased Wise Foods Inc., the company that makes snacks under the Wise, Cheez Doodles and Moore’s brands, from private equity firm Palladium Equity Partners LLC.
Berwick, Pa.-based Wise operates in 21 eastern U.S. states. The company’s staff and leadership team will stay in place.
Arca Continental, headquartered in Monterrey, Mexico, is a bottling company in Latin America that distributes and sells non-alcoholic beverages under the Coca-Cola Co. brand. The company also distributes Bokados brand snack foods.
Kirkland and Ellis LLP acted as Paladium and Wise Foods’ leal advisers for the deal, which is subject to regulatory approval. Terms were not disclosed. The deal was announced Dec. 17.
Arbor Investments purchase of Columbus Manufacturing Inc., a company that makes cured deli meats, Saputo Inc.'s acquisition of Morningstar Foods from Dean Foods Co. (NYSE: DF) and ConAgra's purchase of Ralcorp are all among recent food M&A deals.
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