McCain Foods has agreed to acquire Penobscot McCrum LLC to enhance its North American potato product operations and support local agricultural initiatives.

Target Information

McCain Foods (McCain), a prominent global leader in prepared potato and appetizer products, has formally agreed to acquire Penobscot McCrum LLC (McCrum), a distinguished supplier of frozen potato specialty products in North America. This acquisition marks a significant advancement in McCain’s North American operational network, particularly in the potato sector. The deal is contingent upon the satisfaction of customary closing conditions.

The acquisition encompasses McCrum’s state-of-the-art potato processing facility located in Washburn, Maine. While McCrum's farming operations will maintain their independence, they will enter into a long-term supply agreement with McCain for potatoes. Approximately 130 employees from the Washburn facility will transition to McCain, and both the Chief Executive Officer and Chief Financial Officer of McCrum will assist in the transitional phase.

Industry Overview

The Northeastern United States is recognized as a crucial agricultural zone, and the region has a robust potato farming tradition. Over the decades, this area has cultivated a reputation for producing high-quality potatoes, serving bot