# GraceKennedy acquires 49% stake in Majesty Foods joint venture

Grace Foods (USA), a subsidiary of GraceKennedy Limited, will acquire a 49% equity stake in a new joint venture company, Majesty Foods, a Florida-based manufacturer of patty and empanada products. Grace Foods will also outsource its current factory operations to Majesty Foods.

- Type: Acquisition
- Announced: 2018-12-08
- Where: Florida, United States
- Status: announced
- Products: patty, empanada, frozen Hispanic and Caribbean products
- Sectors: [Food Processing Equipment](https://endata.com/sectors/food-processing-equipment.md)

## Companies

- [GraceKennedy](https://endata.com/companies/35974.md) (acquirer)
- [Grace Foods (USA)](https://endata.com/companies/35975.md) (acquirer)
- [Majesty Foods](https://endata.com/companies/35976.md) (target)

## Sources

- [stabroeknews.com](https://www.stabroeknews.com/2018/12/08/news/regional/jamaica/grace-acquiring-49-stake-in-us-patty-company/), 2018-12-08: "Grace Foods (USA), Inc. a company owned by GraceKennedy Limited, said it will be acquiring a 49 per cent equity stake in a new joint venture company, Majesty Foods."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.