Premier Foods mulls selling assets as investors plan to replace CEO

UK - The British food manufacturer, Premier Foods has said it may sell part of its assets to turnaround its business even as shareholders mount pressure on the CEO, Gavin Darby to step down. Plans to sell part of its business received back up from the CEO who said he was open to do the…

MatchaBar secures US$8m in Series A funding round to expand brand

USA - US beverage brand MatchaBar has secured US$8 million in a Series A funding round as it aims to rapidly expand its line of bottled and canned matcha drinks, according to FoodBev. Brothers Max and Graham Fortgang founded MatchaBar in 2014, creating a matcha café in New York. The brand launched a ready-to-drink version of its…

Macadamia market value grows by 60% in global tree nut consumption

WORLD - Green & Gold Macadamias has reported a 60% rise in global tree nut consumption, which is a testament to the fact that people are eating more and more of them. As a result of this, the market value for macadamias is up by 72%, according to Green & Gold Macadamias, who believe that…

Online grocery service Grofers to enter FMCG segment targeting US$364m in sales

INDIA - The Indian online grocery delivery service, Grofers has entered the fast moving consumer goods segment (FMCG) with a target to achieve more than US$364.7 million in revenue in the financial year 2019. The grocery firm targeting stronger business growth with 50% coming from its private brands after it recorded US$138.6 million sales in…

Walmart partners with Microsoft to boost ecommerce against Amazon

USA - Walmart Inc., the American chain of hypermarkets has entered into a strategic partnership with Microsoft Corp for wider use of cloud and artificial intelligence technology that for faster, convenient and easier shopping by customers at its stores. The five-year agreement will see Walmart utilize Microsoft’s cloud solutions, which is Microsoft Azure and Microsoft…

Seed Co Zimbabwe to raise US$19m to support regional expansion and listings

ZIMBABWE - Seed Co Limited, Zimbabwe based producer and marketer of certified crop seeds is seeking to raise upto US$19.2 million through a partial unbundling to support expansion as well as separate listings of its regional operations. The Herald has reported that Seed Co wants to unbundle 71% of Seed Co International represented by 242…

FrieslandCampina to invest US$12.7m in Nigeria and use 100% locally sourced milk

NIGERIA - FrieslandCampina, the Netherlands based Dutch multinational has pledged to invest about US$12.78 million in a “ready-to-drink project, using 100% locally sourced milk.” According to the Beverage Industry news, the dairy cooperative will enhance continuous training for dairy farmers, and provision of fortified milk for school pupils. The commitments were made in a joint…

Pick n Pay achieves profitability as it looks to open more stores in Zimbabwe

ZIMBABWE - Meikles Limited, Zimbabwe’s hotel, retail and supermarket chain has announced that revenue in supermarkets division, jointly owned with Pick n Pay has increased from US$414 million to US$487.8 million in the year ended March 2018. According to IOL Business report, Pick n Pay is boasting of profitability in its Zimbabwe operations and is…

Cadbury Nigeria to focus on growing market share for profitability

NIGERIA - Cadbury Nigeria Plc has said that it will focus on growing market share, expand and improve its distribution network as a way of achieving sustainable growth as delivering better returns to shareholders, reported the Vanguard Nigeria. As the company strives to retain its market share, the company’s chairman Mr Atedo Peterside noted that…

Bel Group announces plans to build US$87m factory in Quebec

CANADA - The Bel Group, a multinational cheese marketer, has announced that it is going to spend $87mn to build a factory to produce its Mini Babybel cheese snacks in Quebec. According to Food Drink & Franchise, the French cheese marketer said that the plant in Sorel-Tracey, Quebec, will be its first Canadian production facility.…