Nampak Zimbabwe reports growth amid unfavourable investment environment

ZIMBABWE – Paper and packaging giant, Nampak Zimbabwe says its capital expenditure projects remain curtailed after it suspended all credit extensions and capital injection by the major shareholder, reports the Chronicle. In a trading update […]

Biena Snacks secures US$8 million funding to expand plant-based foods

USA – Boston’s plant-based snacking brand, Biena Snacks has secured US$8 million in Series B financing led by MAW Investments, to accelerate growth of the brand. MAW Investments is a private equity firm created by former Snyder’s-Lance […]

Carlsberg reports strong first half boosted by Asia, premium beers sales

DENMARK – Global brewing company, Carlsberg has reported strong first-half results, with solid profit improvement of 17.7% boosted by premium beer and sales in the Asian market. The Tuborg and Holsten owner reported a 6.5% […]

Botswanan retailer Choppies plans exit from South Africa market

SOUTH AFRICA – Botswana based retailer, Choppies Enterprises, has unveiled plans of exiting the South African market, a few years after expanding into the country. The retailer, which has been hit by operational turbulence in […]

Stock Exchange to suspend Ghana’s cocoa trading company PBC

GHANA – The Ghana Stock Exchange (GSE) is set to suspend the listing status of licensed cocoa buyer, Produce Buying Company (PBC) Limited, from the bourse. GSE said that the suspension of PBC from the […]

Agritech firm Cambridge Crops raises US$4m in funding to combat food waste

USA – Cambridge Crops, a US based agricultural tech firm has raised US$4 million in seed funding for its pioneering silk-powered technology, designed to combat food waste throughout the supply chain. The funding round was […]

Private equity firm Actis acquires stake in Denny Mushrooms owner Libstar

SOUTH AFRICA – Private equity firm Actis has acquired 37.02% stake in South Africa’s owner of the Denny Mushrooms brand Libstar Holdings held by Abraaj Private Equity Fund IV (APEF IV). Last month APEF IV, […]

Libstar to sell dairy and fruit drinks unit, sees double digit growth in half year earnings

SOUTH AFRICA – Libstar Holdings, a South African consumer goods company has announced that it has entered into a binding agreement to sell its non-core dairy-blend and fruit concentrate beverage operations, for an undisclosed amount. […]

Kerry Group half year revenues grow 10.7% to US$4bn buoyed by acquisitions

IRELAND – Kerry Group, and Irish dairy cooperative, issued its financial results for the half year ended 30 June 2019 during which the groups revenue increased by 10.7% to US$4 billion (€3.6bn). The increase in […]

Kraft Heinz writes down US$1.2bn as first half profits shrink 4.8%

USA – Kraft Heinz reported a 4.8% decline in operating profits to US$12.4 billion in the six months to end June due to gloomier prospects for some of its leading brands, including Oscar Mayer meats. […]