Mass recall of French-made baby milk over Salmonella fears

FRANCE - A tainted baby milk scandal affecting some 30 countries is growing, as French dairy giant Lactalis recalled millions more products globally because of fears of Salmonella contamination. Lactalis had already recalled several million baby milk products earlier this month. On Thursday, the company expanded the recall to all products made in its factory…

Arla enters Indonesian joint venture with PT Indofood CBP company

INDONESIA - Arla Foods has established a joint venture with one of the leading fast-moving consumer goods companies and dairy players in Indonesia, PT Indofood CBP Sukses Makmur Tbk (ICBP). According to the company, this venture is a big step towards building its business in the region considering Southeast Asia as a strategic growth region…

Target buys online delivery company Shipt to drive e-commerce ventures

USA – US retail company Target has bought US-based online same-day delivery platform Shipt for US$550 million, as it steps up its challenge to rivals Walmart and Amazon. Shipt offers same-day delivery of. Founded in 2014 and located in Birmingham, Alabama, Shipt is a rapidly growing membership-based grocery marketplace and same-day delivery platform for groceries, essentials,…

ThaiBev bets big on Vietnam, buys US$4.8 b stake in largest brewery

VIETNAM - Thai Beverage Plc is doubling down on Vietnam after it partnered with a local company to buy a $4.8 billion stake in the country’s largest brewer, a key step for the company controlled by billionaire Charoen Sirivadhanabhakdi as it seeks to dominate Southeast Asia’s beverage market. Vietnam Beverage, the local unit which ThaiBev holds a…

Ola acquires FoodPanda India business, to further invest $200 million

INDIA - Ride-hailing player Ola is making an entry into the food delivery space again, this time by acquiring Foodpanda India from Germany based Delivery Hero Group. While the companies did not disclose the details of the deal size, sources have pegged the stock-based acquisition at under $50 million. The move will also see Ola…

Alibaba gets CCI approval to invest in India’s BigBasket

INDIA - Chinese e-commerce major Alibaba has got approval of the Competition Commission of India (CCI) for investing in Indian online grocery platform, BigBasket. The move comes within a month of Alibaba seeking CCI’s nod for the same. According to a CCI notice, Alibaba Singapore – a subsidiary of Alibaba Group Holding – had proposed the acquisition and…

Edita Food Industries enters Morrocan snack food market in JV

EGYPT – Edita Food Industries, a leader in the Egyptian packaged snack food market has announced it will directly enter the Moroccan snack food market through a greenfield investment with Morocco’s Dislog Group. Edita signed a memorandum of understanding with the leading local distributor to form a joint venture, “Edita Food Industries – Morocco”, that…

Campbell Soup completes acquisition of Pacific Foods for US$700m

USA - Campbell Soup has announced its completion of the acquisition of Pacific Foods of Oregon (Pacific Foods) for US$700 million in cash, subject to customary purchase price adjustments. A leading producer of organic broth and soup, Pacific also produces shelf-stable plant-based beverages and other meals and sides. According to the company, organic food is…

Campari Canada invests US$5m for renovation of its Ontario distillery

CANADA - Campari Canada has announced an investment of US$5 million for the renovation and redevelopment of their Grimsby, Ontario distillery for Forty Creek Canadian Whisky. The investment is another milestone in the European company's strategy to make Canada a priority market for investment and innovation. According to the company, it has invested well over…

Cargill opens its first animal nutrition premix plant in Philippines

PHILIPPINES – Cargill has officially opened its first animal nutrition premix plant in the Philippines to meet increasing demand from medium and large livestock farms and feed millers in the Philippines and Southeast Asian countries for US$12million. Cargill opened the plant where 50 local employees will produce animal nutrition premix solutions to customers under the…