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…

Coca-Cola to complete acquisition of Nigeria’s largest juice company, Chi Limited

NIGERIA - The world’s soft drinks giant, Coca-Cola is planning to acquire the remaining 60% stake in Nigeria’s leading juice and snacks producer, Chi Limited with the deal to close early next year. The Coca-Cola company entered an agreement to acquire an initial minority equity shareholding (40%) in the juice and snack producer Chi Ltd…

Firmenich to acquire the US taste innovation and biotechnology firm Senomyx

SWITZERLAND - The Swiss fragrance and flavour solutions company Firmenich has reached an agreement to acquire Senomyx Inc., an American based flavours and taste firm with the deal expected to close in the fourth quarter of 2018. The merger agreement as approved by the boards of directors of both companies allows Firmenich to acquire   the…

Coca-Cola in talks with cannabis-infused beverages company Aurora Cannabis

USA - The Coca-Cola Company, the global manufacturer for non-alcoholic beverages, is in “serious talks” with Aurora Cannabis Inc. to develop cannabis-infused beverages, a move that would signal a significant foray into the marijuana sector. According to Bloomberg, Coca-Cola is interested in developing beverages that are infused with cannabidiol, commonly referred to as CBD, the…

Coca-Cola acquires kombucha maker Organic & Raw Trading company

USA - The Coca-Cola Company, the global beverages manufacturer, has acquired kombucha maker Organic & Raw Trading Co., which makes the MOJO brand of naturally fermented, live culture, organic kombucha drinks. The company said that MOJO kombucha – which is sold throughout Australia – is made from naturally fermented tea, and is the fastest-growing beverage category in…