Australian food company Soulfresh clinches US$34m investment to accelerate growth

AUSTRALIA – Victoria-headquartered health and wellness food brand, Soulfresh has secured a £26m (US$34.28m) investment from retail and consumer investment firm, True to support growth and international expansion. Founded by Didi Lo in 2003, Soulfresh […]

Robert Spurway to take over as GrainCorp’s CEO post demerger of Malt business

AUSTARLIA – Grain and commodities storage company, GrainCorp has appointed Robert Spurway to take up the role of Managing Director and CEO after completion of the planned demerger of the Company’s Malt business in early […]

Olam sells permanent water rights in Australia to PSP Investments for US$332m

AUSTRALIA – Olam Orchards Australia (OOA) has entered into an agreement with Public Sector Pension Investment Board (PSP Investments) to sell 89,085 megalitres of its permanent water rights in Australia for A$490 million (US$332.5m). In […]

PepsiCo Australia switches to canola oil to reduce saturated fats content in Snacks

AUSTRALIA – PepsiCo has announced that it has changed the cooking oil for majority of its snack brands in Australian to canola oil, in a move aimed at reducing the saturated fat content in Doritos, […]

Australian plant-based meat startup v2food raises US$35m in Series A round

AUSTRALIA – Australia’s plant-based meat startup, v2food has raised US$35 million in Series A funding round led by Main Sequence Ventures and Hong Kong business magnate Li Ka-shing’s Horizons Ventures. Sequoia Capital China and Fairfax […]

China’s Mengniu Dairy to acquire Kirin’s Australia unit for US$419m

CHINA – Chinese dairy giant, Mengniu Dairy has agreed to buy Kirin Holdings Co.’s Australian beverage unit Lion Dairy & Drinks for about 45.6 billion yen (US$419 million). The deal includes all white milk, milk-based […]

Maxum Foods launches food service division to meet demands in the Aussie market

AUSTRALIA – Maxum Foods, one of Australia’s leading suppliers of dairy ingredients has officially launched its food service division, Maxum Food Service. With Maxum Food Service, the company seeks to offer restaurants, cafes and quick […]

Hilton Foods Australia inaugurates US$190m meat processing facility

AUSTRALIA – Meat packing business, Hilton Foods Australia has opened a new AUS 280 million (US$190.3 million) meat processing and distribution facility in Heathwood, Queensland. The state-of-the-art processing plant will utilise the latest robotic systems […]

Unilever reviews its Australia and New Zealand ice cream business unit

AUSTRALIA – Unilever has announced an extensive review of its Australia and New Zealand ice cream business unit as the company seeks to cushion the business from volatility in the ice cream market. The company […]

Britain’s Sainsbury’s signs private label deal with Australian retailer Coles

UK – British supermarket group, Sainsbury’s has signed a major deal to supply private label products to Australia’s second largest retail chain Coles. The arrangement, which Sainsbury’s says is its biggest wholesale deal yet, will […]