Tyson Foods divests pizza crust business to private equity firm

14 Aug 2018 --- Tyson Foods has reached an agreement to sell its pizza crust business, TNT Crust business (TNT), to an affiliate of private equity firm Peak Rock Capital (Peak Rock). Terms of the deal have not been disclosed. However, the two companies hope to complete the deal by September. The transaction is the seventh recent food and beverage investment for Peak Rock.

Dairy expansion: Glanbia Nutritionals and partners invest US$470m in new Michigan facility

14 Aug 2018 --- Glanbia Nutritionals, Dairy Farmers of America and Select Milk Producers Inc. are set to build a new large-scale cheese and whey production facility in St. Johns, Michigan, US as part of a joint venture. The project is expected to be commissioned in the Q4 of 2020 and will cost approximately US$470 million.

Novozymes enjoys 4 percent growth in Food & Beverage enzymes, despite overall earnings miss

10 Aug 2018 --- Global biotechnology company, Novozymes, has released its results for the first half. Earnings before interest and tax (EBIT) for the quarter came in at DKK957 million (US$147 million) with its household care sector showing particular weakness. The company still beat estimates with its second-quarter net profit and revenue, but shares have fallen after reporting earnings that missed analysts’ expectations.

Agrana Nile Fruits brings new beverage solutions to Middle East & African markets

10 Aug 2018 --- Agrana Nile Fruits has inaugurated a new production line for tailor-made beverage compounds, specifically targeting markets in the Middle East and North Africa. The joint project with Austria Juice, a sister company of the Agrana Group, is a successful endeavor of installing high-quality standards and the innovation drive from European markets to the region, according to the company.

Corbion results impacted by new Algae Ingredients business

09 Aug 2018 --- Corbion reported H1 2018 sales of €439.2 million (US$509.2 million), a decrease of 4.9 percent compared to H1 2017, entirely due to negative currency effects. Organic sales growth was 3.1 percent. EBITDA excluding one-off items in H1 2018 decreased by 19.0 percent to €71.5 million (US$82.9 million) due to negative currency effects and the inclusion of the Algae Ingredients business (which includes the former TerraVia business acquired in 2017). Organic EBITDA excluding one-off items increased by 1.2 percent in H1 2018.

IFF reports strong first-half results, “performance was broad-based,” says CEO

08 Aug 2018 --- International Flavors & Fragrances Inc. (IFF) has reported its financial results and strategic achievements for the second quarter ended June 30, 2018. Top-line trends remained strong in the second quarter, marking the fourth consecutive quarter of mid-single digit growth, according to IFF Chairman and CEO, Andreas Fibig.

Natural and clean label expansion: Firmenich acquires Campus, Italian innovator in protein solutions

08 Aug 2018 --- Firmenich has acquired Italy-based Campus, an innovator in the application of natural functional ingredients for protein applications, specializing in clean label, meat and plant-based foods. This acquisition broadens Firmenich’s capabilities in naturals and protein solutions, cutting across animal and vegan food products. Neither party is disclosing financial details of the deal, which is expected to close by the end of this week.

PepsiCo CEO Indra Nooyi steps down after 12 years

07 Aug 2018 --- PepsiCo has announced that its CEO, Indra Nooyi, is to step down after 12 years in the role. Nooyi is among the world's most known female business leaders and has regularly appeared on Forbes’ list of the 100 most powerful women, ranking 11th in 2017.

European drought: Solutions required as wheat, maize and barley harvests to be impacted

07 Aug 2018 --- The drought in many regions of the European Union and Eastern Europe has caused significant damage to wheat, maize and barley crops. Weather conditions are affecting the quality of the wheat as well as its quantity; because of the drought, the failing number is unusually high. There have been reports that the governments of drought-hit German, Swedish, Finnish, Lithuanian and Danish farmers are considering special aid packages. According to the Food and Agriculture Organization of the United Nations (FAO), prices of these crops could remain under upward pressure. Although the agency believes that the overall effects of the recent droughts are not yet alarming, there may be a need for alternative solutions if the cost of these ingredients continues to rise. 

Flavor merger progress: Frutarom shareholders overwhelmingly approve takeover by IFF

07 Aug 2018 --- Frutarom shareholders voted to approve the proposed combination of Frutarom and International Flavors & Fragrances Inc. (IFF) at the general meeting of Frutarom shareholders yesterday. Of the votes cast, 94.6 percent were in favor of the proposed merger, representing approximately 74.7 percent of all outstanding shares.

Harnessing AI for taste creation: Firmenich partners on Digital Lab

06 Aug 2018 --- Firmenich has inaugurated its Digital Lab – D-Lab – in partnership with the Ecole Polytechnique Fédérale de Lausanne (EPFL), an institute for science and technology. A key milestone of Firmenich’s digital strategy, D-Lab is dedicated to harnessing Artificial Intelligence (AI), to augment the group’s innovation across fragrance and taste creation. Expanding Firmenich’s footprint to the EPFL Innovation Park, the digital hub brings together Firmenich creators and experts with key members of the Campus’s dynamic ecosystem, according to the company.

Heineken forms agreement with China's biggest brewer

06 Aug 2018 --- Heineken N.V. has signed non-binding agreements with China Resources Enterprise, Limited (CRE) and China Resources Beer (Holdings) Co. Ltd. (CR Beer) to create a long-term strategic partnership for Mainland China, Hong Kong and Macau (together China). In the context of this partnership, Heineken will become CRE’s 40 percent minority partner in holding company CRH (Beer) Limited (CBL), which controls CR Beer, the undisputed market leader in the world's largest beer market, China.

Darigold expands global operations: “We see increased demand for protein & dairy products,” says Senior Vice President

03 Aug 2018 --- Darigold Inc. reports it is expanding its global customer service and long-term commitment to growth in international markets. The company is creating an overseas sales, service and distribution network to strengthen its valued international relationships. So far, Darigold has opened offices in Mexico City, Singapore and Shanghai, and reportedly expects to expand to more countries soon. Darigold projects it will grow from serving roughly 20 countries today to serve 40 or more countries in the future.

Weekly Roundup: Kellogg raises revenue forecast, Solvay’s natural vanillin receives GRAS approval

03 Aug 2018 --- This week, in business results, Bunge sustained a loss of US$21 million in the second quarter and Kellogg and raised its revenue forecast for the year. In the same week, the company announced the launch of its joyböl brand in the UK, targeting millennials with an all-in-one packaged smoothie bowl. Essentia Protein Solutions has been reaccredited to the highest grade AA by the BRC (British Retail Consortium) Global Standard for Food Safety at its Tipton, UK manufacturing site. Dairygold has won eight prestigious awards at the recent International Cheese Awards which was held in Nantwich, England and Grupo Lala, has named Mauricio Leyva as its new Chief Executive.

Biscuit International acquires Arluy, strengthens Spanish presence

02 Aug 2018 --- Biscuit International, one of Europe’s players in the private label sweet biscuit market, has acquired Arluy, the fifth largest producer and distributor of sweet biscuits in Spain. Founded in 1988, Arluy is a family company based in the Rioja region which has experienced substantial growth in recent years. The company is now the fifth largest manufacturer of biscuits in Spain, with an annual turnover of more than €40 million (US$46.7 million) in 2017.

Fiberstar partners with Batory Foods to expand sales across Western US

02 Aug 2018 --- Fiberstar, Inc. has signed a distribution agreement with Batory Foods effective July 1, 2018. Over the years, Fiberstar added capacity, introduced new Citri-Fi products and entered into new categories. To increase the sales momentum and to penetrate the food and beverage market, Fiberstar has partnered with Batory Foods.

Fermentation factor: Lallemand & Veripan develop solutions for artisan-style bread

01 Aug 2018 --- One of today’s key trends is the industrial production of artisan-style bakery products. In response to these trends for fermented ingredients, Lallemand and Veripan have formed a “collaboration which will combine Lallemand’s knowledge and expertise in yeasts, cultures and enzymes with Veripan’s proprietary fermentation technologies, creating strong synergies between both companies.”

Zilor-Biorigin Sustainability Report highlights “84 percent overall customer satisfaction”

01 Aug 2018 --- To demonstrate how its businesses are conducted responsibly and transparently, Zilor-Biorigin has presented the 6th edition of its Sustainability Report, presenting the main results and initiatives of the company from April 1, 2016, to March 31, 2018. This edition highlighted Biorigin’s production record, in addition to the 84 percent of overall customer satisfaction. In caring for people, the investments in the development, safety and well-being of employees with the Life in Focus Program.

FDA backs Impossible Foods’ “magic ingredient”

31 Jul 2018 --- Impossible Foods has received a no-questions letter from the US Food and Drug Administration (FDA), validating the unanimous conclusion of food-safety experts that its key ingredient – “heme” – is safe to eat. Impossible Foods makes meat directly from plants and the company uses science and technology to create wholesome, nutritious food, restore natural ecosystems and feed a growing population sustainably, thus with a much smaller environmental footprint than meat from animals.

Kepak Group acquires 2 Sisters Red Meat business for an undisclosed sum

31 Jul 2018 --- Kepak Group has acquired the Red Meat business of 2 Sisters Food Group (trading as 2 Sisters Red Meat Limited) from Boparan Holdings for an undisclosed fee, as 2 Sisters aims to restructure its operations following a tumultuous year. Kepak Group is set to acquire the business and assets of 2 Sisters Red Meat including four UK-based production facilities and a storage facility in Truro, Cornwall.

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