Seaboard sustains a US$2m loss in milling unit in the second quarter

USA - The Kansas based agribusiness company, Seaboard Corp has reported a loss of US$2 million in its Commodity Trading and Milling (CT&M) segment during the second quarter ended June 30. The company had operating income of US$9 million in the segment while net sales totalled US$890 million, a 27% increase from US$701 million in…

IFF reports strong results of 9% net sales increase in the second quarter

USA - International Flavors & Fragrances, an American corporation producing flavors and fragrances and cosmetic actives, has reported strong results of 9% sales increase to US$920 million in its second quarter results. According to the company, the net sales of US$920 million was an increase of 9% from US$843 million in 2017, excluding the impact…

IMCD completes acquisition of US specialty chemicals distributor E.T. Horn Company

USA - IMCD N.V., a leading distributor of specialty chemicals and food ingredients, has announced that it has successfully completed the acquisition of 100% of the outstanding shares of US specialty chemicals distributor E.T. Horn Company. According to the company, this agreement on the acquisition of HORN was announced by IMCD in its press release…

Stratus Group Beverage releases new range of kombucha drinks for US market

USA - US-based Stratus Group Beverage has released a new line of organic kombucha drinks for the US market, made exclusively with organic and non-GMO ingredients and feature a blend of fermented tea and a range of fruit flavours. According to FoodBev, KÖE Organic Kombucha range has five flavours initially available: Lemon ginger, mango, raspberry…

Keurig Dr Pepper Inc. reports second quarter 2018 results for Keurig Green Mountain and Dr Pepper Snapple Group

USA - Keurig Dr Pepper Inc., a leading producer and distributor of hot and cold beverages, has reported second quarter 2018 results for Keurig Green Mountain and Dr Pepper Snapple Group for the period ending June 30, 2018. According to the Keurig Dr Pepper, it had filed a Form 8-K/A with the U.S. Securities and Exchange…

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…

P&G receives CCI’s approval to acquire 51.8% stake in Merck Ltd for US$187m

INDIA - Competition Commission of India has given Procter & Gamble a nod to acquire 51.8% stake in the Indian listed drug firm Merck Ltd for US$187.83 million, according to ET Retail. This is part of the deal to acquire German Merck's consumer health business valued at US$3.4 billion as it looks to expand its…

UK firm Duet invests US$50m for a majority stake in Ajeast Nigeria

NIGERIA - UK based private equity firm Duet Private Equity (DPEL) has invested over US$50 million in AJEAST Nigeria Ltd, a Sub-Saharan Africa subsidiary of AJE Group, a multinational beverage company. According to the group, a significant share of the investment was allocated as growth capital and will aid in expanding its presence in Nigeria.…

COCOBOD to pump US$600m into cocoa sector to revive the industry

GHANA - The Ghana Cocoa Board (COCOBOD) will invest US$600 million into the cocoa sector in a way to revive the industry in the country, GNA reports. Making the announcement, Mr Joseph Boahen Aidoo, the Chief Executive of COCOBOD said the board had almost finished negotiations to secure the credit facility from the African Development…

Land O’Lakes SUSTAIN acquires software company Agren

USA - Land O’Lakes SUSTAIN has announced that Land O’Lakes, Inc., a member-owned agricultural cooperative, has acquired substantially all assets of Agren, Inc., an Iowa-based software company. According to the company, Agren’s soil health and conservation planning software is already helping Land O’Lakes lead the way on innovative conservation stewardship. The Agren business and tools…