UberEats in talks to sell India business to delivery firms Zomato and Swiggy

INDIA – Uber India is set to sell its two-year-old online food delivery business, UberEats India and is eyeing major players in the sector Zomato and Swiggy as it seeks to cut down losses in the country ahead of its planned IPO. According to ET Retail, Uber is in talks with the two online food…

Board approves Varun Beverages Plans to acquire PepsiCo franchise rights in India

INDIA – Varun Beverages Limited (VBL), the bottling partner of PepsiCo India, said its board has approved its plans to acquire franchise rights of the beverage and snacks in India’s South and West regions. VBL’s board approved the company’s intent to enter into a binding agreement with PepsiCo India Holdings to acquire franchise rights for…

India’s food safety regulator imposes new restrictions on yeast levels in beer

INDIA -  TheFood Safety and Standards Authority of India (FSSAI), a food safety regulator in India, is seeking to impose new restrictions that will ensure yeast and moulds count in beer made across the country maintained within safe levels. According to the restrictions by FSSAI, regular beer has to be entirely free of yeast while…

Nestle India reports 9.6% growth in profits to US$47.96m in Q4

INDIA – Nestle India reported a 9.6% growth in net profits to US$47.896 million for its fourth quarter period ended 31st December 2018 up from US$43.76 million posted in the corresponding period in its previous financial year. The company total revenues in the period under review increased from US$417.16 million against US$372.26 posted in the…

Reliance Industries Ltd to invest US$1.4bn in India’s e-commerce sector

INDIA - Reliance Industries Limited (RIL), an energy and telecoms conglomerate, has unveiled plans of investing US1.4 billion into India’s e-commerce sector as part of its diversification strategy, reports ET Retail. The investment by RIL comes at a time when other e-commerce giants such as Amazon.com and Flipkart are experiencing tough operating environment due to…

Zomato gets US$39.7m capital injection from US-based Glade Brook Capital

INDIA – Haryana based food delivery service, Zomato has received US$39.75 million (Rs 284 crore) from US-based Glade Brook Capital Partners in a race to become the leading food and restaurant discovery service in India. According to documents sourced from Paper.Vc., Zomato issued 13,000 class 1 preference shares to Glade Brook for the fund infusion.…

Cargill to invest US$20m in new greenfield premix plant in Rajasthan, India

INDIA – Cargill has announced plans to invest US$20 million in a new greenfield premix facility in northern Indian state, Rajasthan to increase its capabilities in animal nutrition in the country. According to Cargill, the plant, set to sit on 15 acres at Tathed village in Kota will manufacture animal nutrition products and supplements to…

India’s food delivery firm Swiggy acquihires AI start-up Kint.io

INDIA – Online food delivery platform, Swiggy has acquihired artificial intelligence (AI) start-up, Kint.io to boost its computer vision technology and consumer experience, reports ET. According to Dale Vaz, Head of Engineering and Data Sciences at Swiggy, the acquihire aims at enabling Swiggy benefit from Kinto.io’s expertise in dep learning and AI. “The team at…

Jubilant FoodWorks Q3 net profit jumps 46% as revenues rise

INDIA - Domino's Pizza and Dunkin' Donuts food chain operator, Jubilant FoodWorks has reported a 46% increase in net profit to US$13.52 million in the third quarter ended December 31, 2018. Revenue for the period was US$130.24 million (Rs 929 crore), up 17% compared to US$111.43 million recorded in the corresponding period in the year…

Coca Cola India launches grape drink Colour under Minute Maid brand

INDIA – World’s beverages giant Coca-Cola has launched grape based sparkling drink called Colour, expanding its Minute Maid product range in India and take on local players. The TN-focused grape drink targets local consumers who are always seeking a fizzy and refreshing drink in the regional market. The drink is made from grapes sourced locally…