Israel: Nestle to buy remaining stake in Osem
Swiss FMCG multinational Nestle is to acquire the remaining shares in Israeli food manufacturer Osem in a deal worth about $840 million, according to a Reuters report. Osem is Israel’s third-largest food producer by sales, behind the Strauss Group and market leader Tnuva. The firm produces more than 2,000 different food items in 11 production sites, both […]
Nigeria: Coca-Cola acquires minority stake in Chi
Coca-Cola, the multinational soft drinks giant, has announced that it has agreed to acquire an initial minority shareholding in Chi, a company it describes as “Nigeria’s leading value-added dairy, juices and snacks business”. The agreement creates a strategic relationship within Africa’s largest economy that together serve Nigeria’s sparkling soft drinks, juices, value-added dairy and water […]
South Africa: Old Mutual acquires minority stake in In2Food
Old Mutual, the UK-based private equity firm, has bought a minority stake in South African food maker In2Food for a price between 200 million and 600 million ZAR ($12 and $36 million), according to a report in Bloomberg. In2Food is a manufacturer of private-label products for grocery chains, founded in Johannesburg in 2007. The firm […]
South Africa: Beam Suntory acquires 50% of ABV Brands
US spirits manufacturer Beam Suntory has announced that it has bought a 50% equity stake in South African alcoholic drinks distributor ABV Brands. ABV Brands has been the appointed distributor in South Africa for Beam Suntory (previously Beam Global) since its foundation in 2010, during which time ABV Brands has grown sales of Beam Suntory’s […]
Nigeria: Tiger Brands to sell Dangote venture
Tiger Brands, a South African consumer goods firm with a broad brand portfolio, is reported to be selling its struggling Nigerian venture to Dangote Industries as a result of nearly $120 million in write-downs. According to Fast Moving, Tiger Brands bought two-thirds of a stake in Dangote Flour Mills for almost $200 million from Aliko […]
Nigeria: Ornua opens new dairy facility
Ornua, Ireland’s largest dairy product exporter, has announced the opening of a new packing factory in Nigeria. The facility will provide a new route to market for Irish powdered milk, which will be exported to Nigeria and then packaged and marketed under the Kerrygold brand, the company said. Kerrygold powders are sold in small sachets, […]
South Africa: Rhodes Food acquires Alibaba
Rhodes Food, a South African manufacturer of longlife meat, vegetable and fruit products, fruit drinks and fresh foods, has announced it will acquire the business assets of Alibaba Food Holdings (Alibaba) for 42,000,000 ZAR ($3 million). Alibaba, based in Athlone, Cape Town, manufactures a range of halal food products including samosas, pies and rooties. Its […]
Nigeria: Mondelez invests in hot beverage plant
Mondelez International has announced that it is making an investment of $50 million at its new Lagos plant to meet “surging demand” for hot cocoa drink brand Cadbury Bournvita in Nigeria. The company said the investment would support the company’s global growth strategy by expanding the availability of regional power brands in key markets and […]
South Africa: Clover Industries to install new yoghurt production line
South African food manufacturer Clover Industries is to expand capacity for dairy production with the launch of a new 65 million (ZAR $5.9million) yoghurt production line at its plant in Bloemfontein, according to a report in FastMoving. The move was triggered by Clover’s dairy facility – acquired from DairyBelle earlier in the year – running […]
South Africa: Clover Industries acquires majority stake in Frankie’s Olde Soft Drinks
South African dairy group Clover Industries is entering the soft drinks market with the acquisition of a majority stake in beverage firm Frankie’s Olde Soft Drinks. According to its website, Frankie’s Olde Soft Drink is a “micro” soft drink business “reproducing some of the favourite soft drink tastes of yesteryear” including Homemade Ginger Beer, Olde […]