Zimbabwe’s Dairibord sales volumes down 40pc in third quarter of the year

ZIMBABWE – Dairibord Zimbabwe Ltd (DZL), Zimbabwe’s largest milk processor reported a 40% decline in sales volume for the third quarter to September 2019. The drop-in sales volumes was attributed to constraints of availability of […]

Qatari dairy company Baladna Food Industries to raise US$392m in IPO

QATAR – Baladna Food Industries, Qatar’s largest dairy and beverage company will launch an initial public offering  (IPO) this month, that could raise 1.426 billion riyals (US$392 million). In the IPO, the company plans to […]

Olam International successfully completes US$1.5bn debt refinancing

SINGAPORE – Global food and agri-business Olam International Limited and its wholly owned subsidiary, Olam Treasury Pte. Ltd, have secured a multi-tranche revolving credit facility aggregating US$1.525 billion. The Facility consists of three tranches; a […]

Irish food company Strong Roots raises US$18.3m to support expansion

UK – Strong Roots, an Ireland-based vegetarian frozen food company has raised US$18.3 million in funding led by private equity firm Goode Partners, as the company seeks to expand into the US and UK markets. […]

AB InBev Asian business resumes plans of Hong Kong listing

ASIA – World’s largest brewer, Anheuser-Busch InBev has resumed plans of listing its Asia Pacific business in Hong Kong, two months after back tracking from the planned initial public offering (IPO). AB InBeV now says […]

Shoprite reports 18.2% decline in full year profits despite growth in sales

SOUTH AFRICA – Africa’s largest retail chain, Shoprite reported 18.2 percent decline in  full year net profit to US$ 273.12 million (R4.2bn) as the South African retailer struggled to lift sales in majority of the […]

Sugar giant Tongaat Hulett to delist from London Stock Exchange

SOUTH AFRICA – South African sugar producer Tongaat Hulett has unveiled that it will delist its shares from the London Stock Exchange to cut costs and streamline its shareholding structure. Amid low trading volumes in […]

Astral Foods reports 52% decline in earnings as poultry division declines stumbles

SOUTH AFRICA – Astral Foods, a South African poultry producer, has reported a 52% decline headline earnings for the six months to end-March 30 2019 attributed to a significant decline performance of the poultry division. […]