Olivine to invest US$5m in margarine plants

ZIMBABWE - Fast moving consumer goods manufacturer Olivine Industries will invest $5 million in the final phase of the margarine processing technology and soap plant upgrade. Margarine production at Olivine was being hampered by old equipment, some of it dating back to 1947, which saw the firm losing a considerable market share to other brands.…

Demand for infant formula ingredient continues to grow – Advanced Lipids

CHINA - The demand for infant formula containing SN-2 palmitate – an ingredient that mimics the fatty acid profile in human milk – has soared over the past decade and will continue to grow, according to Advanced Lipids. Advanced Lipids is a joint venture established by Enzymotec, a leading biotech company specializing in lipid-based bio-functional…

Devonshire Capital to acquire 51% stake in Ruchi Soya

INDIA - Merchant banking firm Devonshire Capital is planning to acquire 51 per cent stake in Ruchi Soya Industries (RSIL) and will invest Rs 4,000 crore (US$619 million) in certain branded packaged oils distribution business of the agri and food FMCG company. RSIL's Board of Directors has approved signing of a binding term sheet with…

Unilever’s local subsidiary sells olive oil business in Greece

GREECE - Elais-Unilever Hellas, the company’s Grrek subsidiary, has announced it intends to sell its Altis, Elanthi and Solon olive brands, and start manufacturing cleaning products in Greece, to counterbalance its departure. According to a senior company official, “it would be ideal if both the olive oil and the margarine brands ended up in the…

Bunge to acquire 70% of specialty oils major IOI Loders Croklaan

SWITZERLAND – Bunge, a leading global agribusiness and food company, has entered into a definitive agreement to acquire a 70% ownership interest in IOI Loders Croklaan, a global leader in specialty oils for the food and related industry, from IOI Corporation Berhad for US$946 million. The transaction, comprising €297 million and $595 million in cash, expands…