Chinese dairy group Yili buys Thai ice cream maker Chomthana

ASIA – Yili Group, state-owned company of dairy industry in China has acquired Chomthana, Thailand's leading ice cream and frozen foods manufacturer to expand its operations in Southeast Asia. Chomthana, which has more than 37 years of experience and exports its products to 13 foreign markets, sells a range of ice cream products, ice lollies…

PepsiCo and Coca-Cola to invest US$1.4b in Pakistan

ASIA – The world’s beverage giants are planning to invest in Pakistan with PepsiCo lining up US$1.2 billion in the next five years while Coca-Cola will further invest US$200 million in the coming two to three years, according to a statement from Prime Minister Imran Khan’s office. A report by Arab News reveals that the…

Cargill to invest US$70m in Thailand’s seafood and poultry in 2 years

ASIA – The American grain and agricultural trading corporation, Cargill has announced that it is committed to invest more than US$70 million in poultry and seafood in Thailand over the next two years. The investment aims to meet global demand and increasing consumption of the products while addressing the company’s innovation strategy. Cargill is looking…

Cargill to invest US$235m in 2 years in Philippines to grow business

ASIA – Cargill has said that it has lined up US$235 million (PHP 12.5 billion) in growing its business in the Philippines in the next 2 years. The company said this is poised to help meet increased domestic demand for chicken and pork, as well as delivering solutions in key areas of the global agricultural…

Danish fruit-drinks maker CO-RO buys majority stake in Chinese JKD

CHINA – Co-Ro Food, a leading manufacturer of fruit-based non-carbonated soft drinks based in Denmark has acquired the majority shareholding in Golden Creation Trade Co. Limited, trading as JKD for an undisclosed sum. The company said the acquisition reinforces its market position in China and is expected to generate a 30% growth rate in 2019…

ILRI calls for food safety improvement in low and middle-income countries

KENYA – The International Livestock Research Institute (ILRI), a Kenya based international agricultural research institute has called for the need of increased public investment and other policy attention on food safety in developing countries. Even though food safety is recognised as a major public health concern worldwide, developing countries are way behind in understanding or…

Malaysia to introduce tax on sugary soft drinks and juices

MALAYSIA – Malaysia is set to introduce a tax on ‘high sugar’ beverages including juices and soft drinks effective 1 April 2019 to help address the country’s levels of obesity and sugar related diseases. Finance Minister Lim Guan Eng announced that the government will introduce an excise duty of MYR 0.40 ($0.10) on beverages containing…

Heineken finalizes US$3b merger deal with China’s top brewer CR Beer

CHINA - The global brewer and distributor of beer and cider, Heineken N.V has announced that it has completed the US$3 billion deal to merge its Chinese operations with the country’s top brewer China Resources Beer. The deal gives Dutch company a 40% stake in the holding company that controls RC Beer and allows it…

China’s Vitasoy invests US$154m in a new production facility in Guangdong

CHINA - Vitasoy International Holdings Limited has said that it will invest US$154 million (HKD1.21 billion) in a new manufacturing plant in Changping, Guangdong, China. The investment will include the price for land use right and the estimated cost of construction and production equipment of the new plant. Set to be completed in 2021, the…

Nestle Zone Asia CEO to leave the company in new changes in the executive board

ASIA – Nestle, a Swiss transnational food and drink company, has reported that Wan Ling Martello, CEO of Zone Asia, Oceania and Sub-Saharan Africa (AOA) and a member of the Nestlé Group Executive Board, will leave Nestlé after seven successful years at the company on December 31, 2018 to explore new horizons. According to the…