Lamb Weston Holdings, Inc. (NYSE:LW) and Sociedad Comercial del Plata S.A. (BASE:COME) acquired Alimentos Modernos S.A. on October 15, 2019. Post deal completion, Lamb Weston and Sociedad Comercial del Plata will each own 50% stake. Alimentos Modernos S.A. will be renamed Lamb Weston Alimentos Modernos S.A..

Lamb Weston Holdings, Inc. (NYSE:LW) and Sociedad Comercial del Plata S.A. (BASE:COME) completed the acquisition of Alimentos Modernos S.A. on October 15, 2019. Under terms of consideration, Lamb Weston Holdings paid $17.1 million in the first half of fiscal 2020, and Lamb Weston Holdings expect to pay $5.5 million during the third quarter of fiscal 2020. The remaining $4.7 million, less any amounts for indemnified losses, is payable in October 2024.