Kerry officially opens first production plant in Moscow

RUSSIA - Kerry, the global taste and nutrition company, are delighted to announce the opening of its first plant in Russia yesterday, in the Istra district of Moscow. According to the company, the new production and warehouse complex occupies a site covering more than 7,000 square meters and employs over 50 people. Production begins immediately…

Synlait doubles profit in tenth year of operations with new tax after profit of US$74.6m

NEW ZEALAND – Synlait, a dairy processing company, has reported a net after tax profit (NPAT) of US$74.6 million, almost double the NPAT of US$39.5 million announced for the same period last year. According to the company, the results for the financial year ending 31 July 2018 (FY18) were achieved in a period of large…

Japanese brewer Sapporo to form partnership with AB InBev to improve distribution

JAPAN - Japanese brewer Sapporo will resume its exports to China through a distribution partnership with AB InBev, as it aims to target the premium beer segment. According to FoodBev, China is the world’s largest beer market and Sapporo drew attention to the premium segment, including imported beer brands, which it says is exhibiting “dramatic…

Danone becomes first corporate venture fund to receive B Corporation Certification

USA - Danone Manifesto Ventures, the New York-based venture arm of Danone, has announced that it has become the first corporate venture fund to achieve B Corporation Certification independently. This prestigious designation follows a rigorous certification process by B Lab, a third-party non-profit, and recognizes companies that are committed to conduct business with the highest…

Tanzania’s Reserve agency to receive US$6m to buy 28,000 tonnes of maize

TANZANIA - The National Food Reserve Agency (NFRA) will receive US$6.56 million from the government of Tanzania to be used for purchasing 28,000 tonnes of maize, only 2% of the surplus commodity to be purchased during the period. Since the government is only buying a small of the 970,000 tonnes it was supposed to during…

Astral’s full year’s earnings to surge 85% as poultry demand weakens

SOUTH AFRICA - Astral Foods’ Earnings per Share (EPS) for the 12 months ending 30 September 2018 is expected to increase by at least 85% from the previous year as poultry sales volumes and selling prices came under pressure towards the end of the year due to a weakening consumer demand. Improvement in performance was…

ADM’s Alpharetta-based nut subsidiary names Clint Piper as new president

USA - Archer Daniels Midland Co.’s Alpharetta based Golden Peanut and Tree Nuts has announced Clint Piper as the new president of the subsidiary. Piper joined ADM in 2007, and has served in multiple leadership roles, including commercial management positions in Valdosta, Georgia, and Kershaw, South Carolina. Most recently, he was general manager, North American…

Grocery delivery startup DailyNinja secures funding from Matrix Partners India

ASIA - The Indian online milk and grocery delivery platform, DailyNinja has secured an undisclosed amount of funding from the venture capital firm, Matrix Partners India with participation from existing investors- Sequoia India and Saama Capital. According to Times of India, the funds will be used to further strengthen DailyNinja’s presence in the daily essentials…

PepsiCo India launches new Kurkure snack variants to tap local market

ASIA - PepsiCo India’s salty snacks division has launched new variants of Twistkeen under its popular brand Kurkure to build its presence in the local space, an ET Retail report notes. Developed in line with tastes and flavours similar to popular regional snacks such as Bikaneri bhujia, Andhra’s murukku and Shahi flavoured namkeens, Twistkeen is…

Amazon and Samara to acquire food and grocery chain Birla’s More for US$584m

ASIA - Amazon, together with the India-focused private equity firm, Samara Capital have signed a deal to acquire Aditya Birla Group’s food and grocery store, More for US$584.26 million. According to two senior industry executives cited by ET Retail to be familiar with the matter, the deal was reached after the board of Aditya Birla…