Nestlé reports half-year results for 2023 In its half-year market report for 2023, Nestlé announced impressive organic growth of 8.7 per cent, with pricing alone accounting for 9.5 per cent of that growth. The real internal growth was -0.8 per cent. Nestlé CEO Mark Schneider attributes this success to the[Read More…]
Finance
Yum China’s net income up by 139% in Q2
Total Revenues up 25%; system sales grew 32% in constant currency; operating profit increased 216% In the second quarter of 2023, Yum China Holdings reported a net income of $197 million, which is an impressive 138 per cent increase compared to the previous year’s $83 million. The company’s total revenue[Read More…]
Kerry invests €30 M in Indonesian site to create authentic tastes for Southeast Asia
Company’s largest greenfield investment in Southeast Asia and largest capital investment in the region Ireland-headquartered Kerry, a world leading provider of taste and nutrition solutions, has officially opened a new state-of-the-art taste manufacturing facility in Karawang, West Java, Indonesia. This new €30 million 50,000m2 facility significantly expands Kerry’s taste offering in Southeast Asia (SEA) by delivering[Read More…]
Vietnam-based Vinamilk eyes international business diversification
To meet the growing demands with innovative solutions Following Gulfood Dubai 2023, the world’s largest food exhibition that took place earlier this year, Vietnam-based dairy firm Vinamilk has announced plans to participate in other trade promotion events such as Japan Foodex Fair, and FHA Singapore Fair, International SME Fair in Guangzhou,[Read More…]
Japanese F&B giant Kirin Holdings buys Australian brand Blackmores for A$1.8 billion
Blackmores directors have unanimously recommended shareholders vote in favour of the scheme Japanese food and beverages (F&B) giant Kirin Holdings Company is acquiring Australian-listed healthcare company Blackmores at a cost of A$1.8 billion. Kirin and Blackmores have entered a Scheme Implementation Deed with Kirin offering A$95 per share for the[Read More…]
Indian firm Reliance inks strategic partnership with Sri Lankan biscuit brand Maliban
Partnership to enable access to globally recognised product portfolio Reliance Consumer Products Limited (RCPL), the FMCG arm and a wholly owned subsidiary of Indian firm Reliance Retail Ventures Limited (RRVL), has announced a strategic partnership with Sri Lanka headquartered Maliban Biscuit Manufactories. Maliban, a heritage brand and household name in[Read More…]
Barry Callebaut Group announced that Moody’s changed the Group’s long-term rating outlook to ‘positive’ from outlook ‘stable’
The outlook on all senior unsecured long-term ratings assigned to the bonds issued by Barry Callebaut Services N.V. has also been changed to ‘positive’ from ‘stable’. Paolo Leschiutta, Senior Vice President and lead analyst for Barry Callebaut at Moody’s, said: “The outlook change to ‘positive’ reflects Barry Callebaut’s strong operating[Read More…]
BENEO buys shares in German start up to get close to the consumer needs for plant based meat solutions
company focused on the development, production, marketing and distribution of meat replacement and meat alternative products, as well as other products linked to BBQ foods. A start-up for hybrid, vegetarian and vegan products, marks the next step in BENEO´s plant-based protein strategy with the market for fish and meat alternatives[Read More…]
Mondelēz International announced the launch of the fourth annual State of Snacking™ report.
Mondelēz International, Inc. empowers consumers to snack right in over 150 countries around the world. This year’s report explores how current economic challenges are affecting consumer snacking choices around the world – with most respondents continuing to prioritize snacking, despite rising costs and economic challenges. Developed in partnership with The[Read More…]
Nutreco Partnership with BiomEdit to Transform Feed Additives Through Microbiome Technology
Collaboration an industry-first focusing on discovery, development, and commercialisation of next-generation ultra-specialty feed additives called Biome-actives to address livestock producers’ health and sustainability challenges The partnership aligns Nutreco Exploration (NutEx), Nutreco’s team tasked with developing proprietary ultra-specialty ingredients to promote its purpose of Feeding the Future, with animal health’s most advanced microbiome biotech company, BiomEdit. The collaboration covers the discovery, development and commercialisation of Biome-actives developed using BiomEdit’s advanced microbiome science and bioinformatics platform. These[Read More…]
