Tanzania’s Reserve agency to receive US$6m to buy 28,000 tonnes of maize

TANZANIA - The National Food Reserve Agency (NFRA) will receive US$6.56 million from the government of Tanzania to be used for purchasing 28,000 tonnes of maize, only 2% of the surplus commodity to be purchased during the period. Since the government is only buying a small of the 970,000 tonnes it was supposed to during…

Amazon and Samara to acquire food and grocery chain Birla’s More for US$584m

ASIA - Amazon, together with the India-focused private equity firm, Samara Capital have signed a deal to acquire Aditya Birla Group’s food and grocery store, More for US$584.26 million. According to two senior industry executives cited by ET Retail to be familiar with the matter, the deal was reached after the board of Aditya Birla…

Coca-Cola to complete acquisition of Nigeria’s largest juice company, Chi Limited

NIGERIA - The world’s soft drinks giant, Coca-Cola is planning to acquire the remaining 60% stake in Nigeria’s leading juice and snacks producer, Chi Limited with the deal to close early next year. The Coca-Cola company entered an agreement to acquire an initial minority equity shareholding (40%) in the juice and snack producer Chi Ltd…

Firmenich to acquire the US taste innovation and biotechnology firm Senomyx

SWITZERLAND - The Swiss fragrance and flavour solutions company Firmenich has reached an agreement to acquire Senomyx Inc., an American based flavours and taste firm with the deal expected to close in the fourth quarter of 2018. The merger agreement as approved by the boards of directors of both companies allows Firmenich to acquire   the…

Coca-Cola acquires kombucha maker Organic & Raw Trading company

USA - The Coca-Cola Company, the global beverages manufacturer, has acquired kombucha maker Organic & Raw Trading Co., which makes the MOJO brand of naturally fermented, live culture, organic kombucha drinks. The company said that MOJO kombucha – which is sold throughout Australia – is made from naturally fermented tea, and is the fastest-growing beverage category in…

Firmenich enters strategic agreement to acquire Layn Natural Ingredients

SWITZERLAND – Firmenich, a private Swiss company in the fragrance and flavor business, has entered a strategic agreement with Layn Natural Ingredients, a leader in premium, plant-based sweeteners, flavors and botanicals. According to the company, this agreement will give it exclusive access to the widest range of natural sweeteners and taste modulation extracts in the…

Drugmaker Aspen sells baby formula unit to French dairy group Lactalis for US$860m

SOUTH AFRICA - Aspen Pharmacare, the South African pharmaceuticals concern firm and Africa’s largest drug company has agreed to sell its infant formula business to French dairy group Lactalis International for US$864 million (12.9 billion Rand) as it seeks to cash on the division, reports Bloomberg. The acquisition will be funded by cash and according…

The State grain buyer seeks to raise US$75m to purchase maize from farmers

ZIMBABWE - Agricultural Marketing Authority (AMA), the government’s marketing agency plans to raise US$75 million for the purchase of maize from farmers in 2018 season, reports the Herald. The agro-bills which have a tenor of 360 days and interest rate of 7% per annum would be used for the purchases through the Grain Marketing Board…

Nestlé to sell skincare line, to focus on food and beverage businesses

USA – Nestlé, the Swiss transnational food and drink company, has made a review, through the Board of Directors, to sell its skincare line to sharpen its focus on food, beverage and professional health products. The company, according to the Board, fully confirmed the strategic direction by enhancing the Group's focus, as it expects to…

Milkbasket to expand engineering team five-fold and set new R&D Centre

ASIA - Milk and grocery delivery startup Milkbasket plans to expand its engineering team fivefold to 100 in the next nine months and set up a new research and development (R&D) centre, ET Retail reports. The development will enable the Gurgaon-based firm recommend users to products that they order frequently through machine learning. The R&D…