Colombia’s discount food retailer Ara Tiendas secures US$93m to expand operations

COLOMBIA – Ara Tiendas, a Colombian based proximity food discounter has secured a US$93 million (about COP330 billion) from the International Finance Corporation (IFC) to help it increase the foot print of its discount grocery […]

Burger King India to raise US$56.6m in IPO to accelerate expansion

INDIA – Burger King India has filed for an Initial Public Offering (IPO) that could to raise up to INR4 billion (US$56.6 million) as the fast food chain seeks to accelerate its expansion in the […]

Int’l Breweries to raise US$458m through ‘rights issue’ to offset staggering losses and mounting debt

NIGERIA – International Breweries Plc, the Nigerian unit of global brewer, Anheuser-Busch InBev is planning to raise N165bn (US$457.7m) in a share sale in order to reduce the mounting debt and reverse losses. This follows […]

Beta Glass maintains strong performance in the third quarter with 15% revenue growth

NIGERIA – Beta Glass Plc, the Nigerian maker of glass bottles and containers for the beverage industry has reported 15% growth in revenue growth for the third quarter of its financial year through 30th September […]

ADM’s Nutrition business delivers strong sales despite a fall in quarterly earnings

USA – Agricultural processor and food ingredient provider, Archer Daniels Midland (ADM) reported a 24% decline in net income to US$407 million during the third quarter ending September as the company battled through challenging external […]

Ingredion posts slight growth in Q3 sales, lowers earnings guidance amid trade uncertainties

USA – Ingredion reported a slight growth in sales to US$1.457 billion from US$1.450 billion during the third quarter of the fiscal year 2019 on improved price/mix and volume growth which were partially offset by […]

Carlsberg to acquire Cambrew as craft & speciality beers push third quarter revenues up by 5.3%

DENMARK – Carlsberg has signed an agreement to acquire the remaining 25% of Cambodian brewer, Cambrew one of the largest breweries in the country for an undisclosed sum. The Danish brewer unveiled the deal during […]

Molson Coors restructures to streamline operations after posting weaker Q3 results

CANADA – Molson Coors Brewing Company, has unveiled a company-wide restructuring strategy aimed at streamlining the brewers operations and rejuvenate its growth after further diving into a loss during its latest quarter. The Canadian beverage […]

Indian online grocer Grofers raises US$20m in funding from Times Group

INDIA – SoftBank-backed Grofers, an Indian online grocer has raised US$20 million by issuing equity share and a warrant to Bennett Coleman Private Limited (BCCL), also known as Times Group. Times Group has picked up […]