Kensington Distillers & Vintners acquires Nigeria’s 1960 Rootz from AB InBev

NIGERIA - Kensington Distillers and Vintners Limited (KDV), London-based beverage producer, has acquired the 1960 Rootz brand inform Monument Distillers Nigeria Limited owned by Anheuser-Busch InBev (AB InBev). The acquisition includes the state-of-the-art manufacturing plant used to produce 1960 Rootz, which according to KDV will soon be moved from AB InBev’s Port Harcourt production facility…

Fonterra returns to profitability with 2% rise in sales volume, to sell DFE Pharma stake

NEW ZEALAND – The New Zealand dairy co-operative, Fonterra has reported a net profit after tax of US$54.7 million (NZD 80 million), up 123% boosted by increase in sales volume. In the six months ended January 31, revenue dropped 1% to US$6.63 billion (NZD 9.7 billion), impacted by the Consumer and Foodservice Gross Margin which…

Kroger agrees to sell Turkey Hill business to private equity firm Peak Rock

USA – Kroger has announced that it has reached an agreement to sell its beverages business, Turkey Hill to an affiliate of Texas based private equity firm, Peak Rock Capital for an undisclosed sum. As part of the agreement, the Peak Rock Capital affiliate will continue to operate the Turkey Hill business out of its…

Yili to buy New Zealand’s Westland Co-operative Dairy for US$404m

NEW ZEALAND – Yili group, the state-owned Chinese dairy company has entered an agreement to acquire Westland Co-operative Dairy Company, an independent co-operative dairy company in New Zealand for US$404 million. The conditional scheme implementation agreement was signed by the board of Westland Co-operative and is subject to shareholder approval. “Under the proposed transaction our…

Wessanen in talks with a consortium of funds for a possible buyout

NETHERLANDS – The Dutch multinational food company, Wessanen has confirmed that it is in discussions a consortium of funds managed by PAI Partners SAS for a potential takeover. Also participating in discussions include various entities controlled by Jobson and his family who have also shown interest in the buyout. The company said that it has…

ADM buys European citrus flavor ingredients provider Ziegler Group

GERMANY – The global food processing and commodities trading company, Archer Daniels Midland Company (ADM) has reached an agreement to acquire the Ziegler Group, a leading European provider of natural citrus flavor ingredients. ADM said that the acquisition further expands its portfolio of natural citrus ingredients and positions it for growth in the global market…

South Africa’s Sea Harvest on a positive 2019 outlook amid aggressive acquisitions

SOUTH AFRICA – Sea Harvest, a South African fishing and food company, said that the group was well positioned for further growth after its 2018 acquisition spree saw its asset surge from US$179.6 million to US$335.03 million in the year ended December. Sea Harvest chief executive Felix Ratheb said that the group continued invest in…

IFF’s Frutarom acquires majority stake in European ingredients producer Leagel

ITALY - International Flavors & Fragrances Inc has said that its Frutarom division has acquired 70% stake in in Leagel S.r.l. (“Leagel”), a leading producer of ice cream and gelato ingredients in Europe. IFF said it retains an option for the residual 30% stake in Leagel to be exercised after three years. Leagel is a…

2 Sisters completes sale of Green Isle Brands and frozen foods business

UK – 2 Sisters Food Group has announced that it has completed the sale of its Green Isle Brands and Donegal catch frozen foods business to a consortium of investors for an undisclosed sum. The company said the transaction strengthens its balance sheet and reinforces its commitment to its core strategy and key operations. The…

Marfrig’s National Beef acquires Iowa Premium from Sysco for US$150m

USA – National Beef, the Missouri based beef processor and subsidiary of Marfrig Global Foods has acquired Iowa Premium, a meat packer previously owned by Sysco in a transaction valued at US$150 million. Iowa Premium, which is headquartered in Tama, Iowa, has daily processing capacity of 1,100 head of cattle. The company offers meat slaughtering…