Food conglomerate Strauss Group Ltd. (TASE:STRS) unit Sabra Dipping Company has acquired the refrigerated salsa and other refrigerated dips operations of US firm California Creative Foods.
Strauss owns 50% of Queens, New York-based Sabra, a joint venture between Strauss and PepsiCo (NYSE: PEP).
Sabra will pay $33 million for the operations when the deal is closed, expected by the end of 2010. The cost will be funded by an owner's loan.
California Creative Foods had revenue of $35 million in 2009.
Published by Globes [online], Israel business news - www.globes-online.com - on September 14, 2010
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