Nestle launches noodles brand Maggi on Flipkart’s ecommerce platform in India

ASIA - Nestle India has launched its new Maggi Special Masala Noodles on Walmart-owned online platform Flipkart, solely available via ecommerce until it hits retail stores on August 31. Nestle’s new finely ground and whole spices reiterates the company’s focus on new product development for its instant noodle category. “It will give a chance to…

Indiana Packers agrees to acquire Speciality Foods Group in undisclosed sum

INDIA - Indiana Packers Corp. (IPC), a subsidiary of Tokyo-based Mitsubishi Corp., has reached an agreement to acquire Specialty Foods Group, L.L.C., in undisclosed financial terms. According to the company, it said the acquisition will strengthen its foundation for growth as well as position it to leverage valuable synergies relating to raw material utilization, manufacturing…

India is the fastest growing market for Uber Eats globally, says Uber

ASIA - US based technologies company Uber has said that India is the fastest growing market for its food delivery platform Uber Eats and it plans to rapidly expand in the country to cover more cities. The company said the number of orders on its platform had "more than quadrupled" in the last three months…

Online grocery firm Grofers expects US$356m in revenue in 2019 on new additions

ASIA - Indian grocery delivery service Grofers said it expects over US$356.93 million in revenues for the year 2019 based on strong addition of new customers along with increasing cart sizes of existing users, ET Retail has reported. The firm said it currently has a monthly revenue run rate of about US$21.32mn that is, about…

Fruit juice maker Manpasand Beverages invests US$25m in new Uttar Pradesh plant

ASIA - India’s fruit juice maker Manpasand Beverages Limited has invested US$25.69 million in a new manufacturing facility in Varanasi, Uttar Pradesh it seeks to expand its product portfolio. The facility will lead to the capacity addition of 45,000 to 50,000 cases per day from its existing capacity of around 225,000 cases per day. Apart…

Adani gets lenders nod for US$858m acquisition of edible oil manufacturer Ruchi Soya

ASIA - Adani group, owner of edible oil brand Fortune has received approval from lenders to acquire India’s largest edible oil manufacturer Ruchi Soya for US$857.93 million, ET Retail reported. Race to take over the debt-ridden edible oil firm also involved Indian consumer goods company Patanjali group but the committee of creditors (CoC) approved Adani Wilmar’s,…

Britannia approves 1:2 share split to enhance stock affordability and liquidity

ASIA - Britannia Industries’ board has approved share split in the ratio 1:2 to make stock more affordable for the small retail investors and increase liquidity. According to ET Retail, the division which awaits approval of the members and authorities will see authorization of 250m shares worth US$7.14mn in share capital besides 120.1m equity shares…

Salt intake among adult Indians excessive and unhealthy, PHFI says

INDIA - Salt intake among adult Indians has been found to be high and exceeding the levels recommended by the World Health Organisation, according to a recent study conducted by the Public Health Foundation of India (PHFI). According to Economic Times India, the scientific evidence indicates that high dietary salt intake has detrimental effects on…

Carlsberg increases ownership in Cambodian brewer to 75%

INDIA – Carlsberg, one of the leading brewery groups in the world, has increased its ownership in the Cambodian brewer Cambrew Limited (Cambrew) by 25% and as a result, the Carlsberg Group now owns 75% of Cambrew. According to the company, Cambrew is among the largest brewers in Cambodia. Its largest beer brand – the…

Food safety agency starts framing GM food regulations after trace ingredients found

INDIA - The Food Safety and Standards Authority of India (FSSAI) said it has started framing regulations for genetically modified (GM) food after trace in trace ingredients were found present in products. According to FSSAI, the regulations covers procedures for safety assessment and approval of foods such as imported items that are genetically modified based…