The 6 billion yen ($53.2 million) poultry processing facility is slated to debut in October in an industrial park in the central province of Saraburi. Mitsubishi Corp. intends to open a plant in Thailand to fry, steam and freeze chicken for export to Japan and elsewhere, under a joint venture with[Read More…]
Finance
Rami Levi to acquire 20% of Cofix coffee
Rami Levi also received a two-year option to increase its stake to 50.01 percent. Rami Levi, one of Israel’s leading supermarket chains, has agreed to buy 20 percent of coffee and snack chain Cofix Group at a company valuation of 105 million shekels ($30 million). Founded in 2013 by businessman Avi[Read More…]
Nestle to sell US chocolate biz
The sales process is robust and the Swiss KitKat maker expects to reach a sale in the first quarter of 2018. Nestle is expected to sell its U.S. confectionery business in the first quarter of 2018, following a review launched earlier this year as part of efforts to improve performance[Read More…]
Hershey to acquire Amplify Snack
Hershey Co has plans to gain a firmer footing in the fast-growing market for healthy snacks. Hershey Co has plans buy SkinnyPoppopcorn maker Amplify Snack Brands in a deal valued at $1.6 billion, including debt, to gain a firmer footing in the fast-growing market for healthy snacks. Amplify Snack owns brands such as SkinnyPop popcorn[Read More…]
Nestle to expand into vitamins and supplements
Nestle is buying Atrium from a group of investors led by private-equity firm Permira Funds. The Swiss food and beverage giant, Nestle is planning to expand into vitamins and supplements by buying Atrium Innovations for $2.3 billion. Canada-based Atrium Innovations makes Garden of Life gummy vitamins, protein powder and protein[Read More…]
Toho buys two Southeast Asian firms
The company aims to expand the market share in Singapore first. Japanese food company Toho has bought two Southeast Asian firms, one in Singapore and the other in Malaysia, to expand its business overseas in pursuit of medium- to long-term growth. The food product wholesaler and retailer company has acquired Shimaya[Read More…]
Revenues rise for Hong Kong based Vitasoy
The company is said to be driven by strong sales performance, with the gross profit increasing by 19% to HK$1,922 million. Hong Kong-listed soy milk and tofu manufacturer Vitasoy has acquired sustained growth and recorded an increase of 21% in revenue to HK$3,646 million for its interim results ended 30th[Read More…]
Syngenta to acquire Nidera Seeds
Nidera BV is a Dutch subsidiary which was originally acquired when COFCO bought 51% of the shares in 2014. Syngenta has entered into a binding agreement to acquire Nidera Seeds from Swiss agri-business and Chinese grains trader China National Cereals, Oils and Foodstuffs Corporation (COFCO). The Chinese-state owned food processing holdings[Read More…]
Kraft Heinz grows sales by 0.7%
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…]
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…]
