This move is expected to expand the company’s distribution network and contribute to the growth of the Indonesian economy Singapore-based Apical, a leading vegetable oils processor with an expanding global footprint, has announced that it has invested $1 billion in Dumai, Riau to boost the production of its value-added products in Indonesia. The investment, which commenced[Read More…]
Finance
Trident Seafoods sells Petersburg, Alaska plants to E.C. Phillips & Son
Trident announced in December 2023 that it is seeking buyers for four of its Alaska-based plants as part of a comprehensive, strategic restructuring initiative Trident Seafoods announced that it has reached an agreement to sell its processing plant, bunkhouse, galley, and two housing units in Petersburg, Alaska, to E.C. Phillips[Read More…]
Seaweed bacon company Umaro Foods secures $3.8 Mn funding
Following their successful funding round – which was led by venture capital firm Agfunder – the Umaro Foods team is aiming to diversify its product range, along with expanding its technology platform for processing seaweed Umaro Foods, an alternative protein company based in Berkeley, California, has announced a successful second[Read More…]
UAE’s Unifrutti Group acquires Bomarea and AvoAmerica Peru
Unifrutti further expands its global multifruit platform into blueberries and avocados through the acquisition of Bomarea and AvoAmerica Peru Unifrutti Group, a leading global producer and distributor of fresh fruit, announced the acquisition of 100 per cent of Bomarea and the Peruvian operations of AvoAmerica (AvoAmerica Peru) from the US-based agribusiness investment[Read More…]
Grupo Bimbo acquires Vel Pitar bakery in Romania
With the purchase of Vel Pitar, the Mexico-based company expands its global presence to include 34 countries on four continents Grupo Bimbo, the world’s leading and largest bakery company, announces its arrival in Romania following the acquisition of the Vel Pitar bakery. Founded in 1999, Vel Pitar operates ten bakeries[Read More…]
Inghams Group to acquire Bostock Brothers for NZ$35Mn
The deal includes the purchase of 100 per cent of Bostock Brothers Limited shares, the Bostock brand for poultry products, three farming properties, and a primary processing plant, with completion anticipated by September 2024 In a strategic move to bolster its market position, Inghams Group Limited (ASX: ING) has announced[Read More…]
Nestlé’s factory in Australia to get $32Mn boost for Milo
The investment will upgrade the Milo manufacturing line introducing state-of-the-art manufacturing technology to the factory and supporting an increased production capacity Nestlé Australia has announced a $32 million investment in its Smithtown factory, which manufactures Milo – bringing investment in the site to approximately $80 million in the last decade. The investment will upgrade[Read More…]
Vegan Food acquires German Tofutown
The latest acquisition is Vegan Food Group’s first since it was rebranded as a new development out of its initial company, VFC Foods Vegan Food Group has agreed to acquire Tofutown, a German tofu manufacturer with €60 million in revenue. The latest acquisition is Vegan Food Group’s first since it was[Read More…]
Oishii raises $134Mn series B to expand distribution network
Oishii aims to make vertical farming mainstream in the United States and is the only vertical farm in the country that sells strawberries year-round Vertical farming startup Oishii has raised $134 million in its Series B funding round. The funding was led by Japan’s leading telecommunications company NTT, and attracted[Read More…]
ADB, Credo sign deal to promote food security in Georgia
ADB’s financing will provide long-term local currency funding to support Credo The Asian Development Bank (ADB) and Credo Bank have signed a loan of 65 million lari ($25 million). The loan will support lending activities to micro, small, and medium-sized enterprises (MSMEs), with a specific focus on targeting women borrowers[Read More…]
