Synlait to invest US$188.9 million on New Zealand’s new infant formula facility

NEW ZEALAND - Synlait, an innovative dairy processing company has acquired 28 hectares of land in Pokeno, North Waikato, worth US$188.9 to establish their second nutritional powder manufacturing site. According to the company, it expects to invest in the currently an undeveloped site in New Zealand’s North Island in the coming years as it establishes…

Wilmar’s 25% increase in net profit, pushed higher by oilseeds and grains

SINGAPORE - Asia’s leading agribusiness group, Wilmar International’s profits have jumped to US$1.2 billion, 25% up from US$972.2 million in the same period in 2016, thanks to strong performance in the oilseeds and grains sector. The revenue for the year improved by 5.9% to US$43.84 billion; attributed by its wide portfolio of high quality agri-products.…

USDA opens new APHIS office to expand US’s export market to Vietnam

ASIA - USDA through its Animal and Plant Health Inspection Service (APHIS) has opened a new office in Hanoi, Vietnam as it seeks to improve US’s export market footprint for agricultural products in the Southeast Asian country. This makes up USDA’s strategy to create new opportunities for American producers and increase trade between them. USDA…

TOMRA Sorting Solutions acquires BBC Technologies in a food-sorting expansion strategy

NEW ZEALAND - TOMRA Systems ASA, a Norwegian provider of sorting technology and solutions has acquired 100% of BBC Technologies shares as a way to initiate expansion in global food sorting solutions sector. The deal adds to TOMRA’s global recognition as an extensive fit-for-purpose small-fruit sorting and packaging portfolio. The company will take over BBC…

Hormel Foods unveils SKIPPY Peanut Butter campaign

USA - Hormel Foods, the American food company has announced a nationwide SKIPPY Peanut Butter advertising campaign termed as ‘Be Smooth Like Skippy’ to make known the smoothness and deliciousness of the product. The campaign displays a series of videos involving 15- and 30-second spots starring child actor Cooper Friedman, who performs several "smooth" tasks…

Fonterra signs a distribution agreement for its Anchor brand in Asia

ASIA - Fonterra has signed a new distribution agreement to avail its Anchor brand product range to millions of consumers in the South Asian dairy market, particularly Bangladesh. The agreement seeks to build on its brands in the potentially vital dairy markets within in Asia, the Middle East, and Latin America. Bangladesh is said to…

Spur founder to step down after 51 years of service

SOUTH AFRICA - Spur Corporation, a steakhouse franchise restaurant chain’s executive chairman Allen Ambor will step down in a year’s time after spending 51 years at the company he founded, set for March 1 2019. The nominations committee of the board- after Ambor serves a 12-month notice period- would soon start looking for a new…

Distell eyes Africa to double its revenue and profit

SOUTH AFRICA - Liquor giant Distell, controlled by investment group Remgro, is still pursuing an ambitious target of doubling revenue and profit in five years as it targets the African markets. At the release of interim results, Distell CEO Richard Rushton said much of the growth impetus at top and bottom line would come from…