The company turned over $6.31 billion, compared to $6.27 billion in the same period last year, with net income growing 12% to reach $944 million Kraft Heinz has posted a 0.7% increase in net sales for the third quarter, driven by strong growth in Europe. The company turned over $6.31[Read More…]
Finance
Saputo strikes a deal with Goulburn worth $1B
Murray Goulburn reported a decline in revenues for its 2016/17 fiscal year due to a decline in liquid milk sales. Canadian dairy company Saputo has agreed to strike a deal with Australia’s struggling dairy business Murray Goulburn worth $1 billion. It will expand Saputo’s presence in Australia after the acquisition[Read More…]
Frutarom to acquire ownership of Enzymotec
The transaction will be done via full merger of Enzymotec into a subsidiary of Frutarom. Frutarom will acquire full ownership of Enzymotec, Israel, at a net investment of approx. $ 210 million. As of the date of signing, Frutarom held approx. 19% of Enzymotec’s shares at an average price of[Read More…]
IFC likely to invest in organic food firm Agrex
Agrex will use the funds for setting up greenfield processing facilities in Sri Lanka, Uganda, Ethiopia and Philippines. International Finance Corporation, the private-sector investment arm of the World Bank, is planning to invest up to $25 million (around Rs 160.7 crore) in Dubai-based organic food company Agrex Ltd. Agrex will[Read More…]
IFC plans $25 M investment in Jiahe Foods
Jiahe Foods is planning to invest in upgrading its non-dairy creamer production lines and setting up an R&D centre, a freeze-dry coffee facility and a modern warehouse. The International Finance Corporation, the private lending arm of the World Bank, is considering an equity investment of $25 million in China’s Suzhou[Read More…]
Conagra nears a deal to buy Angie’s Artisan Treats
The potential deal would continue Conagra’s efforts to bolster its portfolio of branded food. Orville Redenbacher’s Popcorn owner Conagra Brands is nearing a deal to buy Angie’s Artisan treats, maker of Angie’s Boomchickapop popcorn. The potential deal comes as sales of big food companies have slowed with their staples replaced[Read More…]
China to make food investment in Dubai
The strategic agreement will consolidate China’s stake in the burgeoning Middle East food industry and expand bilateral relations further. Dubai Food Park (DFP), the region’s largest specialised zone dedicated to serving the rapidly growing food sector, has signed a deal with China’s Ningxia Forward Fund Management Company to build a[Read More…]
Frutarom acquires Swiss company Mühlehof Gewürze for USD 7 million
The acquisition will strengthen Frutarom’s leadership in Switzerland allowing continued expansion and generating and exploiting synergies in the areas of R&D and sales. Frutarom Industries continues its momentum of acquisitions with the purchase of 100 percent of the shares of the Swiss company for approximately US $7 million. The acquisition[Read More…]
Ajinomoto fully acquires Kükre Gıda Inc.
Making Kükre A.Ş. a wholly owned subsidiary will enable the Ajinomoto Group to act as a comprehensive food manufacturer in Turkey Ajinomoto acquired an additional 50 per cent of the stock of Kükre A.Ş., a food company in Turkey, for approximately 181 million Turkish Lira (TRY) and made it a[Read More…]
CP Foods H1 profits up despite livestock pressure
CP Foods booked a 10.5 per cent rise in revenue to THB245.59 billion. Charoen Pokphand Foods, the Thailand-based meat and seafood group, saw its earnings in the first half of the year rise despite a sharp fall in segment profits from its livestock division. The company posted profit for the[Read More…]
