Lamb Weston Holdings Inc.

Lamb Weston Holdings agreed to purchase the remaining equity interests in its European joint venture Lamb-Weston/Meijer from Meijer Frozen Foods B.V. for €700 million, consisting of €525 million in cash and €175 million in common stock. The transaction is expected to close in the second half of fiscal 2023.

Lamb Weston announced plans to build a new french fry plant at its existing site in Kruiningen, Netherlands, with an investment of approximately EUR 200 million, adding 180,000 mt per year capacity and creating over 50 jobs. The plant is expected to be operational in Q1 2023.

Lamb Weston Holdings announced an investment to expand operations at its Hermiston, Oregon facility with a new 300 million pound-per-year french fry line. The project is expected to be completed in the fourth quarter of fiscal 2019 and add approximately 170 full-time positions.

Lamb Weston unveiled a new $200 million expanded processing line for frozen potato products at its Richland plant. The 290,000-square-foot expansion doubles capacity to 2 million pounds per day and adds 150 jobs.