Meal kit delivery service Sun Basket raises US$30m backed by Unilever

USA – Sun Basket, an American subscription meal delivery service has raised US430 million in Series E venture capital funding, securing backing from Unilever Ventures, the private equity arm of Unilever. The latest round brings […]

Zimbabwe’s poultry sector recorded 19% decline in output in first quarter

ZIMBABWE – The poultry industry in Zimbabwe recorded a 19% decline in output during the first quarter of the year attributed to a decline in demand and supply in the sector. Zimbabwe Poultry Association (ZPA) […]

Uchumi Supermarkets clinches US$25m deal under its recovery plan

KENYA – Kenyan retailer, Uchumi Supermarkets, has reached into an agreement with its suppliers to forfeit US$25 million (Ksh2.5bn) in arrears as part of a proposed recovery plan for the retailer. The agreement will however, […]

Kenya’s Livestock sector grows by 7.6% as revenues hit US$1.46bn

KENYA – The livestock sector in Kenya recorded a 7.6% growth in the previous year as revenue generation from the sector hit US$1.46 billion (Sh146bn) in 2018 from US$1.356 billion (Sh135.6bn) in 2017. According to […]

Nigerian Breweries banks on internal transformation to cut down costs

NIGERIA – Nigerian Breweries (NB) Plc says the internal transformation process carried out in 2018 with a high one–off financial cost impact is expected to bring about cost savings impact in 2019. The company listed the […]

AB InBev Q1 revenues grow 5.9% with double digit volume growth in Brazil

EUROPE – Anheuser-Busch InBev (AB InBev), world’s leading beer producer has reported strong performance, having registered 5.9% growth in revenues to US$12.59 billion during the first quarter. The period was strongly supported by Brazil, which […]

Kellogg operating profit dips 25.4% as cereal sales continue to fall

USA – The Kellogg Company recorded an operating profit drop of 25.4% in its first-quarter results, as falling cereal sales and “business realignment costs” marked a difficult start to the year for the company, according […]

Kerry reports solid start to 2019 with 10.3% increase in revenues

IRELAND – Kerry Group has reported 10.3% increase in revenues for the first three months of 2019, led by higher volume growth in the Taste & Nutrition division. Consumer Foods recorded 0.8% growth in volume […]

ADM reports 40% dip in net earnings in Q1 as it restructures to drive growth

USA – Archer Daniels Midland (ADM) Company has reported a 40% decline in net earnings in the first quarter impacted by severe weather conditions in North America. The company began a series of accelerated business […]

Tata Starbucks reports 30% increase in sales boosted by store count

INDIA – Tata Starbucks, the joint venture between Tata Global Beverages and Starbucks has posted 30% jump in sales in the financial year 2019, attributed to increased number of stores. Economic Times reports that the […]