India: Cargill to open its first production facility in Asia
Leading US multinational Cargill has announced the launch of its first production facility in Asia, partnering with a local manufacturer in western India. According to sources, the manufacturing facility will open in 2021, with an initial production of 10,000 tons of chocolate compounds, and a workforce of 100 jobs. This investment is part of the […]
USA: Faze Clan to acquire majority stake in meal replacement company CTRL
The eSports company Faze Clan has announced the acquisition of a majority stake in meal replacement CRTL, a start-up for an undisclosed sum. According to CTRL, the company produces a line of powdered meal replacements shakes containing proteins, carbohydrates, fibres, healthy fats, vitamins and minerals, and other elements to boost healthy digestion. Skyler Johnson, co-founder […]
Italy: Nestle to sell water brand Nestle Vera to Acqua Vera Spa
Sanpellegrino Group, a Nestle subsidiary, has announced the sale of Nestle Vera water brand to Acqua Vera Spa for an undisclosed sum. Founded in 1979 and acquired by Nestle in 2005, Acqua Vera holds approximately 6% of the Italian bottled water share market, registering an annual turnover of €80 million last year, according to sources. […]
Poland: Tesco to sell Polish operations for £181 million
British retailer Tesco has announced the sale of its business in Poland to Danish retailer Salling Group, for PLN 900 million (£181 million). This sale follows Tesco’s strategy of withdrawal some of its global positions, similar to the sale of its business in Thailand and Malaysia in March, to focus on its strongest markets. According […]
Sweden: LiveKindly Co. to acquire the vegan brand Oumph
Brand collective LiveKindly Co. has announced the acquisition of the Swedish plant-based meat brand Oumph for an undisclosed sum. Founded in 2015 by Food for Progress company, Oumph is a brand of meatless products and meals with a strong emphasis on the climate impact. According to sources, this acquisition will allow LiveKindly to become “one […]
Norway: Orkla to sell Vestlandslefsa brand to Baxt Lierne
Orkla, the Scandinavian consumer goods giant, has announced the sale of Vestlandslefsa, its potato flatbread brand to Baxt Lierne a Norwegian bakery company subsidiary of Skagerrak-Holding AS. According to sources, this sale is part of Orkla’s plans to restructure its portfolio and focus on its pizza production at its factory in Stranda, Norway. In addition […]
Netherlands: Upfield Group to invest €50 million on R&D
Upfield Group, the Netherlands-based manufacturer of plant margarines, spreads and cheeses, has announced its plans to invest €50 million on the creation of a new food science centre in the country. According to company’s press release, the investment is a commitment to the development of great-tasting food made from plants and sustainable packaging solutions. David […]
Switzerland: Nestle Health Science to acquire majority stake in Vital Proteins
Nestle Health Science has announced the acquisition of majority skate in Vital Proteins, a producer of supplements, vitamin, food, and beverage products. Founded in 2013, Vital Proteins brand portfolio’s includes Atrium Innovations, Garden of Life, Pure Encapsulations, and Persona, distributed across 35,000 retailers. Greg Behar, CEO of Nestle Health Science, said: “This is an exciting […]
Indonesia: Indofood CBP to acquire Pinehill Group for $3 billion
Indofood CBP, an Indonesian-based noodle company, has announced its plan to acquire Pinehill Group, an instant noodle producer for $3 billion. With a production of 10 billion packs in its 12 facilities, Pinehill Group sells instant noodles to countries like Serbia, Ghana, Morocco, Egypt, Turkey, Saudi Arabia, Kenya, and Nigeria. According to sources, Indofood CBP […]
USA: Nestle to sell Buitoni brand in North America
Multinational food and drinks giant Nestle, has announced the sale of its pasta brand Buitoni to private equity firm Brynwood Partners for an undisclosed sum. The acquisition includes the rights of the brand to sell in the US, Canada, and Caribbean territories along with a 240,000 square foot processing facility located in Virginia. Henk Hartong […]