French Salmonella baby milk scandal ‘affects 83 countries’

Courtesy: AFP

FRANCE - More than 12 million boxes of powdered baby milk have now been recalled in 83 countries in a salmonella scandal involving French company Lactalis. The dairy firm's CEO, Emmanuel Besnier, confirmed the extent of the contamination risk to French media. The products have been subject to a recall since December, after salmonella bacteria…

Morgan Stanley values Indian food delivery company Zomato at US$2.5 billion

INDIA - Wall Street giant Morgan Stanley’s research unit has pegged Zomato’s valuation at $2.5 billion in a report released Thursday. This is almost three times its valuation from its last funding round. The coverage on Zomato by the international brokerage firm was done while taking stock of the startup's publicly traded shareholder InfoEdge, which…

Danone closes Indian dairy plant, to focus on nutrition products

INDIA - The 22-billion-euro French foods giant Danone has decided to exit the dairy business in India. The company, which entered India in 2010, is rationalising its product portfolio and has discontinued stock keeping units (SKUs), which have been making a minority contribution to its overall business in India that include the UHT (ultra high…

Coca- Cola relaunches Diet Coke in new packaging, adds variants

NORTH AMERICA - The Coca-Cola company has relaunched Diet Coke, its zero calorie beverage brand in North America, following a two-year innovation process fuelled by consumer research and preference for big, refreshing and great-tasting flavors. According to the company, the re-energized and modern Diet Coke has an updated look and sleek new packaging. The company…

Givaudan appoints Louie D’Amico new President for its Flavours Division

SWITZERLAND – Global flavours and colours specialist Givaudan has appointed Louie D’Amico as President of the Flavour Division and member of the Executive Committee. He succeeds Mauricio Graber who has left Givaudan to become Chief Executive Officer at Chr. Hansen, the Danish provider of dairy and food industry solutions. Louie D’Amico, a holder of BSc…

Online grocer BigBasket sales cross US$170m in 2017

INDIA - Innovative Retail, which runs BigBasket, has more than doubled its business to cross the Rs 1,000-crore (US$158 million) sales mark in FY17, indicating the growing preference for online grocery-shopping in India despite sluggish trends in the broader consumer market. Innovative Retail reported revenues of Rs 1,090 crore (US$172 million) in the year to…

Naspers may partner Tencent to deliver $200 million to Swiggy

INDIA - South African Internet group Naspers has emerged as the frontrunner to lead a $150-200 million investment in Swiggy, after SoftBank and Flipkart ended independent funding discussions with the online food-delivery platform, according to three people briefed on the matter. The deal could likely value the three-year-old venture at $600-650 million before the investment,…