Delivery startup DailyNinja acquires milk delivery business 4amShop in a cash deal

INDIA - DailyNinja, Bengaluru-based hyperlocal subscription delivery startup has acquired milk delivery startup business 4amShop in an undisclosed cash deal as it seeks to expand its presence in Southern India. On completion of the transaction, the founders of 4amShop will exit and 2,000 customers of 4amShop will be transferred to DailyNinja, according to inc42. The…

Anti-Profiteering agency questions Subway, KFC and Pizza Hut on tax cuts

INDIA - The National Anti-Profiteering Authority (NAPA) has questioned Subway, Yum Restaurants owned Pizza Hut and Kentucky Fried Chicken (KFC) for not fully passing on cuts in goods and services tax (GST) rates to consumers. The fast food restaurants were indicated to have impartially adhered to lower GST rates by passing tax cuts on select…

Competition Commission of India clears Walmart’s US$16bn Flipkart acquisition

INDIA- The Indian regulator has approved Walmart’s US$16 billion acquisition of India’s largest e-commerce firm Flipkart, its biggest takeover ever in a fast growing retail space. In May, Walmart announced the acquisition of 77% stake of Flipkart to beef up competition against its rival Amazon who acquired Whole Foods, the American organic products retailer for…

Fonterra re-enters India through a joint venture with Future Group

INDIA - New Zealand dairy giant Fonterra has partnered with fast moving consumer goods arm of Future Group, Future Consumer Ltd to form a joint venture that will see the dairy co-operative launch dairy products in India. Fonterra Future Dairy Partners, a 50:50 joint venture will enable Fonterra tap a significant portion of the dairy market…

Britannia to invest US$58.2m by next year for capacity and product development

INDIA - Britannia Industries, India’s second-largest listed packaged food company plans to invest between US$58mn to US$72.81 million by next year for expansion of capacity and new product development. ET Retail has reported part of the investment including US$43.70m will be used to set up a dairy plant whose site may be relocated from Maharashtra to…

HUL signs agreement with Vijaykant Dairy to acquire Adityaa Milk ice cream business

INDIA - Hindustan Unilever Limited (HUL), a consumer goods company, has announced that it has signed an agreement with Vijaykant Dairy and Food Products Limited (VDFPL) and its group company to acquire its ice cream and frozen desserts business consisting of its flagship brand ‘Adityaa Milk’ and front end distribution network across geographies. According to…

Britannia profit rises 19.41% driven by double-digit volume growth in Q1

INDIA - The Indian food-products corporation, Britannia Industries has said consolidated net profit for the quarter ended June 2018 increased by 19.41% to US$37.56 million helped by double-digit volume growth, ET Retail reports. Total income rose to US$376m compared to US$345m in the corresponding period of the previous fiscal. According to BSE filing by the…

Indra Nooyi steps down as PepsiCo CEO, Ramon Laguarta steps into role

USA – Leading food and beverages company PepsiCo Inc. has announced that its Board of Directors has unanimously elected Ramon Laguarta as new chief executive (CEO) effective 3 October, succeeding Indra K. Nooyi who will be stepping down from the role. After 24 years with the company, the last twelve years as CEO, the company said…

Industry pushback and violations derailing single-use plastic ban in India

INDIA- India has moved a stride further in promoting either a partial or complete ban on single-use plastics but the movement is derailed by lack of a proper enforcement strategy, violations of the law governing the ban and criticism from beverage firms, plastic industry organisations and other lobbyists. Some of the industry players have called…

Indian poultry firm Srinivasa Farms set for US$23 million IFC funding

INDIA – International Finance Corporation (IFC) plans to make an equity investment of US$23 million (Rs 158 crore) in Srinivasa Farms Pvt. Ltd to help the Hyderabad-based poultry company expand its operations. According to VCircle, the funding from IFC will help the company to expand its layer, broiler and breeding operations by setting up additional…