TruTag raises US$7.5m in funding to commercialize its edible barcodes solutions

USA – TruTag Technologies, a company that develops microscopic, edible barcodes to authenticate food and medications has raised US$7.5 million in its series C funding round. TruTag said that the funding will be used to […]

Olam International acquires Hughson Nut to expand its almond ingredients business

USA – Global food and agri-business company, Olam International has secured a deal to acquire a 100% interest in leading Californian almond processor and ingredient manufacturer Hughson Nut Inc (HNI) for US$54 million. Owned by […]

Raw Seafoods partners with IBM to improve seafood safety through blockchain

USA – Massachusetts based seafoods company, Raw Seafoods Inc has partnered with leading technology solution provider, IBM to explore the use of blockchain technology in improving food safety along the seafood value chain. Starting with […]

Arla Foods chief financial officer Natalie Knight to step down

NEW ZEALAND – Arla Foods has announced that Natalie Knight, the company’s chief financial officer will be leaving the company on 29 February 2020. Natalie, who joined Arla Foods in January 2016, will be leaving […]

Consumer goods company ITC to invest US$67m in a new food processing site in India

INDIA – Indian multinational conglomerate company, ITC will be investing US$67.53 million (Rs 700 crore) in setting up a new food processing facility in Madhya Pradesh, central India. Speaking during a recent investor summit in […]

Sensient to divest non-core product lines as Q3 earning plunge 33%

USA – Global colors, flavors, and fragrances company, Sensient Technologies has unveiled plans offloading its inks, fruit preparation and fragrance business lines as as the company seeks to further solidify its strategic focus. According to […]

Mountaire Farms opens new US$60 million feed facility in North Carolina

USA – Mountaire Farms, the sixth largest poultry company in the United States has opened a new US$60 million feed mill in Scotland County, North Carolina. The new facility has a capacity to process 650 […]

Pick n Pay’s half year profits grow 19.8% as turnaround plan pays off

SOUTH AFRICA – South African retail chain, Pick n Pay has posted double-digits profit growth from 18.8% to 19.8% gross profit margin in the six months to end September following its turnaround strategy. Group trading […]

ITFC and OCP Africa sign pact to increase agriculture production in Africa

AFRICA – The International Islamic Trade Finance Corporation, member of the Islamic Development Bank Group and OCP Africa, a subsidiary of OCP SA, have signed a Memorandum of Understanding (MoU) focusing on strategic funding, innovation […]

Nigeria to increase tax base with introduction of excise duties on soft drinks

NIGERIA – The Federal Government of Nigeria is considering placing excise duties on carbonated soft drinks in bid to broaden its revenue base. According to the Minister of Finance, Budget and National Planning, Mrs Zainab […]