Global food manufacturer Kerry Group has entered into exclusive negotiations to sell its Sweet Ingredients Portfolio to INCA, an international leader in chocolate, creams and high-quality semi-finished food ingredients, for €500 million. The Sweet Ingredients Portfolio is a manufacturer of sweet and cereal products with a broad range of technological capacities serving the markets of bakery, cereal, confectionery, dairy and ice cream in Europe and the US. “We are pleased …
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Russian retailer Magnit is reportedly planning to open a new discount supermarket chain, according to an article on the Kommersant newspaper. Sources close to the retailer reported that the retailer plans to develop a new chain of discounters, a concept that started being planned in 2022, it is expected to be approved in Q1 2023 and afterwards the first stores will open. The discount supermarkets have been trending in the …
E-cigarette brand, known for its disposable vape devices, Geek Bar has made an investment of $146 million in a new production facility as part of its plans of growth in the UK. The facility will be built in the Zhuhai National Hi-Tech Industrial Development District in China’s Guangdong province, and according to sources, the assembly will be 90% automated “to provide the highest levels of precision and performance” and will …
Bavaria, local AB InBev brewer, has announced the investment of $413 million in the construction of a new brewery in the municipality of Palmar de Varela in Colombia. The brewery plans to begin operational by mid-2024 expecting to generate 350 direct jobs and 7,000 indirect job. The facility will produce beer brands such as Aguila, Poker and Club Colombia. “We firmly believe in Colombia and in the great transformations that …
US-based consumer-packaged food company Sovos Brands has announced that it has completed the divestiture of the pancake & waffle mix brand Birch Benders and related assets to Hometown Food Company. Sovos Brands offers a portfolio of pasta sauces, dry pasta, soups, frozen entrees, frozen pizza and yoghurts, sold under the brand names Rao’s, Michael Angelo’s and Noosa, while Hometown Food Company owns a portfolio of baking brands such as Pillsbury, …
Fishermen owned company Silver Bay Seafoods has announced the acquisition of food processing company Orca Bay Foods. Both companies formed a joint venture over the past few years where Silver Bay was the supplier of seafood and Orla Bay was processing, selling, and marketing the products. “Orca Bay is excited to join Silver Bay Seafoods as we continue our mission of delivering sustainable, delicious, high-quality products. This partnership will provide …
Reliance Consumer Products has announced the acquisition of 50% equity stake in carbonated soft drink company Sosyo Hajoori Beverages Private. Founded in 1923, Sosyo is a leading company in the soft drink market in India with brands such as Sosyo, Opener, Kashmira, Lemee, Hajoori Soda, Ginlim, Runner and S’eau with over 100 flavours launched in the market. “We are delighted to enter into this partnership with Reliance Consumer Products, a …
Brewing and beverage company Royal Unibrew has expand its portfolio with the acquisition of the Danish microbrewery Norrebro Bryghus. “We have found a new owner who we believe can continue the Norrebro Bryghus brand and the business we have built up over two decades,” said Martin Thomsen, managing director and co-owner of Norrebro Bryghus. “We are proud of the chapter we have written.” “Royal Unibrew has been given the opportunity …
Food tech company Benson Hill has announced the sales of the assets related to its Fresh business in a two-part transaction to IMG Enterprises for a price of US $21 million. The divestiture will enable the company to focus on its ingredients business and meet the growing demand for its soybean product portfolio. “We believe there is tremendous opportunity to grow our proprietary ingredients portfolio in the food, oil and …
Global independent beverage solutions provider Refresco has acquired Avandis, a manufacturer of alcoholic beverages, from cocktails spirits companies Lucas Bols N.V. and De Kuyper Royal Distillers. With the acquisition, Refresco will expand the offering in the alcoholic category in Europe and according to company’s press release, the company is now a step closer to achieve its goal of “Our Drinks On Every Table”. The production facility of Avandis in Zoetermeer, …
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