Fonterra returns to profitability with 2% rise in sales volume, to sell DFE Pharma stake

NEW ZEALAND – The New Zealand dairy co-operative, Fonterra has reported a net profit after tax of US$54.7 million (NZD 80 million), up 123% boosted by increase in sales volume. In the six months ended January 31, revenue dropped 1% to US$6.63 billion (NZD 9.7 billion), impacted by the Consumer and Foodservice Gross Margin which…

Buhler joins the World Business Council for Sustainable Development

SWITZERLAND – The milling equipment and service provider, Buhler has joined the World Business Council for Sustainable Development (WBCSD), a CEO-led organisation that looks to enhance a sustainable way of doing business. Buhler joins more than 200 company members of the organisation with a focus to address some of the world’s pressing challenges and transform…

Kroger agrees to sell Turkey Hill business to private equity firm Peak Rock

USA – Kroger has announced that it has reached an agreement to sell its beverages business, Turkey Hill to an affiliate of Texas based private equity firm, Peak Rock Capital for an undisclosed sum. As part of the agreement, the Peak Rock Capital affiliate will continue to operate the Turkey Hill business out of its…

Veolia and LEON pilot deposit return scheme to enhance recycling in UK

UK – The European recycling group, Veolia and UK-based restaurant chain LEON have partnered to trial a deposit return scheme in the UK to promote on-the-go recycling. The two have unveiled a reverse vending machine designed to accept plastic bottles and aluminium cans at King’s Cross in central London, UK. The pilot will run for…

Starbucks commits US$100m in new investment fund to support food startups

USA – The world’s leading coffee giant, Starbucks has announced that it is committing US$100 million in a new investment firm, Valor Siren Ventures I L.P. (VSV) to support growth of food and retail startup companies. The new venture fund will partner with startup technology companies with a goal to grow the next generation of…

Nordzucker invests US$114m in Swedish sugar production factory

SWEDEN – The European second largest sugar manufacturer, Nordzucker AG has said that it will be investing US$114 million (100 million euros) at its sugar production factory in Örtofta, Sweden. The company said the move, which was approved by both the executive and supervisory board is part of the strategy to concentrate its sugar production…

General Mills third quarter sales rise 8% with strong contributions from Blue Buffalo

USA – The multinational consumer goods company, General Mills has reported 8% increase in net sales to US$4.2 billion in the third quarter, including contributions from Blue Buffalo Pet Products which it acquired in 2018. The period ended February 24, 2019 saw operating profit increase 14% while diluted earnings per share (EPS) of $0.74 declined…

EU Launches commercial mushroom production project in Ghana to boost sector

GHANA – The European Union (EU) has launched a one million Euro (US$ 1.14 million) commercial mushroom production project in Ghana that seeks to boost diversification in the agricultural sector. According to a report by Ghana News Agency the project will be implemented through a four year period running through 2019-2022 and also seeks to…

Coca-Cola to set up an R&D center in India with a goal to grow the market

INDIA - The Coca-Cola Company plans to set up a research and development (R&D) centre in India as part of a mission to make India one of the company’s top three markets, according to company CEO, James Quincey. In an interview with the Mint, Quincey said he sees sparkling beverages, fruit-based products and innovation as…

AKK develops new flaked fats to enhance taste, texture and crust quality in pizza

UK – Specialty ingredients provider, AKK has developed a new range of flaked fats to help pizza manufacturers enhance taste and create high quality crust and texture in their products. The new range also offers easy handling during the production process, providing an ideal and simple way to improve the texture and mouthfeel of crusts…