PepsiCo to acquire Israeli manufacturing company SodaStream

USA - PepsiCo, Inc., an American multinational food and beverage corporation, has entered into an agreement to acquire all outstanding shares of SodaStream for US$144.00 per share in cash which represents a 32% premium to the 30-day volume weighted average price. SodaStream International Ltd. is an Israeli manufacturing company. According to the company, the acquisition…

Java kicks off 3-year growth strategy in Africa with 3 more outlets in Rwanda

RWANDA - Java House, one of the largest coffee houses in Africa is set to open three additional stores in the next six months in Rwanda as it plans to gain a wider footprint in the African coffee-led restaurants. According to Business Daily, the coffee chain plans to open two additional branches and an outlet…

AfDB to avail US$1.5bn annually to support young agriculture entrepreneurs in Africa

CÔTE D’IVOIRE - The regional development finance institution Africa Development Bank (AfDB) has said it will avail more than US$1.5 billion annually towards agriculture in support of young entrepreneurs in the sector across the continent, the Herald has reported. The financial support was part of its efforts to make agriculture more attractive to young people…

Dairibord overturns loss position with 131% jump in profits in the half year

ZIMBABWE - Food and dairy processor, Dairibord Zimbabwe Holdings has recorded 131% increase in net profit to US$269,844 during the half year ended 30 June 2018 on volumes growth and restructuring. Revenue for the period was 15% above same period last year to US$50.8 million while volume grew 6% to 41 million litres as a…

Grocery retailer OK Zimbabwe opens 49th outlet as it consolidates retail space

ZIMBABWE - OK Zimbabwe Limited, ZSE listed supermarket retailer has opened a new outlet in Glen View, Harare bringing its OK stores to 49 as it continues to consolidate its market share in the retail space, according to the Herald report. The new outlet will serve residents in Glen View and other regions such as…

Tanzania Breweries to construct US$109m mega plant in Dodoma

TANZANIA - Tanzania Breweries Limited (TBL), the country's oldest and largest brewing company has announced intentions to shift its headquarters from Dar es Salaam to Dodoma where it plans to construct the country’s biggest plant worth US$109.51mn, reports Daily News. Construction of the new brewery is expected to begin 2020 to be completed in two…

Famous Brands sales grow 6.7% even as losses from UK’s GBK more than tripled

SOUTH AFRICA - Famous Brands, JSE listed and Africa's leading quick-service franchisor has reported 6.7% growth in sales despite a loss from Gourmet Burger Kitchen (GBK) which more than tripled in the UK, Business Day has reported. In its voluntary performance update issued on August 16, the casual dining restaurant chain said GBK would contribute…

Top pork producer WH Group to close abattoir to contain swine fever outbreak

ASIA - Privately owned Chinese meat and food processing company, WH Group has been ordered to close an abattoir in a bid to contain spread of second outbreak of deadly African swine fever (ASF), according to a Reuters report. Zhengzhou city authorities had ordered a temporary six-week closure of the abattoir, one of 15 controlled…

ADM acquires Brazilian Oilseeds Facilities to expand market range

USA - Archer Daniels Midland Company, an American global food processing and commodities trading corporation, has announced that it has agreed to purchase certain assets of Brazil-based Algar Agro, including oilseeds processing facilities in Uberlândia in the state of Minas Gerais, and Porto Franco in Maranhão. According to the company, it will become owner of…

Danish Crowns opens new production line in Blans abattoir

UK – Danish Crowns, a global meat processing company, has established a new production line at the abattoir in Blans near Sønderborg, which will increase the number of employees by almost 10 per cent from 1,100 to 1,200. According to the company, the Japanese consumers and restaurants have for decades had a strong preference for…