LOS ANGELES -- Yucaipa Cos. here and Wetterau Associates, Boston, said last week they had agreed to acquire Golden State Foods, one of the oldest and largest suppliers to McDonald's restaurants.
st manufacturer of liquid products, such as ketchup, and the third-largest manufacturer of beef patties used by McDonald's restaurants in the United States. In addition, Golden State Foods is the second-largest wholesaler of products to McDonald's restaurants in the country.
The deal is expected to close by the end of April. Financial terms were not disclosed but industry observers estimate it is worth $400 million.
Following the acquisition, Yucaipa would be the majority shareholder in the company and Wetterau Associates would be responsible for overseeing its day-to-day operations.
The transaction would mark Yucaipa's first nonsupermarket acquisition. The firm has significant investments in Fred Meyer Inc., Portland, Ore.; Ralphs Grocery Co., Compton, Calif.; and Dominick's Finer Foods, Northlake, Ill.
Wetterau Associates is a management company focused on investing in and operating food retailers, manufacturers and distributors.