Majesty Foods

Grace Foods, owned by GraceKennedy, has taken a 49% stake in Florida-based Majesty Foods, forming a joint venture to expand in the US-Hispanic food market. Financial details were not disclosed.

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.