Kraft Heinz considers sale of children’s milk brand Complan

INDIA - Kraft Heinz Co., an American food company, is making considerations for a sale of children’s milk drink brand Complan in India, which could fetch about US$1 billion, according to Bloomberg. Kraft Heinz is currently working with an adviser to gauge interest in the business, according to sources who asked not to be identified…

BigBasket in talks to acquire majority stake in Kwik24 start-up company

INDIA - The Indian online grocery and food products provider, BigBasket is eying a majority stake in smart vending machines start-up Kwik24 in an effort to expand its offline grocery business. ET Retail reported that according to people familiar with the matter, BigBasket had earlier launched a pilot program with Kwik24 to deploy smart vending…

SA management considers buying the largest African feedlot valued at US$450m

SOUTH AFRICA - The management of the largest cattle feedlot in the continent, Karan Beef (Pty) Ltd is planning to acquire part or all of the firm from its owner Ivor Karan in a deal that values it at US$450 million, according to people familiar with the matter. An article by Bloomberg revealed that Karan…

Nestle to invest Outsiders Pizza brands as part of its innovation models

FRANCE - Nestle SA, in line with its innovation models called ‘internal incubators’ will invest in Outsiders Pizza Co. and Wildscape brands as part of its innovation approach through start-ups. The investment enables Nestle combine its broad capabilities and strength with the speed and mentality of a start-up in order to conform to the ever…

EU invests US$2.37m in cashewnut project in Kenya to revive the industry

KENYA - The European Union has launched a US$2.37 million cashewnut and sesame value chain project to revive the ailing industry after the collapse of the sole processor at the Kenyan Coast, Kenya Cashewnuts Factory. Revival of the new factory, now under the management of the Millennium Nuts Company, brings hope for 15,000 farmers in…

Seaboard’s joint venture increases capacity with second shift at Iowa pork plant

USA - Seaboard Triumph Foods (STF), a joint venture between Seaboard Foods and Triumph Foods has announced that it plans to increase production with a full second shift at its pork processing facility in Sioux City, Iowa by mid-October. The second shift has been running since May but on a limited basis, with continued hiring…

BRF to close down turkey meat production line in Mineiros

BRAZIL – BRF, one of the largets food companies in Brazil, has made plans to close down its turkey meat production line in Mineiros (GO) due to lack of market for the products. According to Business Insider, Jorge Luiz de Lima, the global vice president of the Brazilian food company's corporate efficiency, made the statement.…

Coca-Cola, Nestle and Kraft Heinz consider acquisition of GSK’s drink brand Horlicks

UK - Coca-Cola, the world’s soft drinks and beverage company, has made considerations to acquire malted drink brand Horlicks from UK pharmaceuticals company GlaxoSmithKline (GSK), according to the Sunday Telegraph. It is understood both companies have held talks about a deal after GSK announced in March that it would carry out a review of the…

Brazil’s food giant BRF names new chief executive officer

BRAZIL – BRF, one of the biggest food companies in the world, has named Pedro Parente as the new chief executive officer with the hope that the new CEO will give a successful turnaround. According to SeekingAlpha, the government commission; which approved the appointment, said the nomination of the new CEO faces no conflict of…

Seaboard’s Unga buyout offer period extended to late June

KENYA- Seaboard’s Corporation’s offer of US$0.40 per share for Unga Group will wait longer to close after a section of Unga’s significant shareholders termed the offer by the multinational conglomerate as inadequate, citing the company’s assets. The extension indicates that Seaboard has not yet met minimum requirement for a 75% stake needed for the transaction…