U.S.-headquartered packaged food retailer Lamb Weston Holdings Inc. acquired Australian frozen potato processor Marvel Packers Pty Ltd.

The financial terms of the deal were not disclosed, according to the Dec. 21 news release.

The deal provides the company with an opportunity to increase its presence in Australia's 1.1 billion pound market with in-country production, noted Lamb Weston President and CEO Tom Werner.

Marvel operates frozen potato processing and storage operations in Hallam, Australia. The new facility adds about 50 million pounds of production capacity to Lamb Weston's current network.

With the acquisition, Lamb Weston owns and operates 16 processing facilities worldwide and an additional 9 facilities in conjunction with its joint venture partners.