Firmenich to acquire South Africa’s Flavourome to expand African presence

SOUTH AFRICA – Swiss flavors and fragrance company Firmenich has announced its intention to acquire Flavourome, a privately-owned flavors company in South Africa, as it focuses its attention to Africa. Located in Midrand, South Africa, Flavourome has a strong presence in South Africa and the regional African market. It has been in operation since 1998.…

Regulator rejects Tuskys-Nakumatt  deal, asks for revision

KENYA - The competition regulator has rejected retail chain Tuskys’ proposed merger with troubled Nakumatt Supermarkets, arguing that the application for regulatory review was done under the wrong clause of the antitrust law. In a letter to the two retailers seen by the Business Daily, the Competition Authority of Kenya (CAK) has advised that a…

Steinhoff Africa exercises its call to acquire majority vote at Shoprite

SOUTH AFRICA - Africa's biggest food retailer, Shoprite, on Friday confirmed that Steinhoff Africa Retail (Star) had exercised the call options to acquire a 23.1percent economic stake in and a 50.6percent voting control of the company. “The implementation of the investment by Star in Shoprite Holdings is subject to a number of conditions precedent, including…

Bidco Africa opens juice plant in Kenya with Danish partner

KENYA – Bidco Africa has opened a new juice plant in Ruiru, Kenya in partnership with Danish soft drink manufacturer CO-RO, to fulfill its ambitions to serve the growing market in Eastern Africa. The new 11,000 square metre factory has two production lines, producing Suntop, a brand of fruit juices in four flavours, with room…

Foreign investors buy out Nigerian shareholders in Seven-Up

NIGERIA - Seven-Up Bottling Company Plc has received an offer from its majority shareholder, Affelka, a privately-owned Lebanese firm, to buy out the minority shareholders for N19.33 billion ($60 million). Seven-Up said in a notice to the Nigerian Stock Exchange, NSE, yesterday that Affelka has offered to buy all the outstanding and issued shares of Seven-Up that…

Tiger Brands eyes Africa expansion, with caution

SOUTH AFRICA - Tiger Brands was looking for acquisitions outside SA and would place more emphasis on due diligence than in the past, management said on Monday. CEO Lawrence MacDougall said the consumer goods group had a "clearer" acquisition strategy that focused on core product categories. Tiger had also "upweighted" due diligence considerations and would…

Eveready Industries and plantation major McLeod Russel seal tea JV deal

INDIA - Williamson Magor Group (WMG) companies Eveready Industries India and McLeod Russel on Friday entered into a 'share purchase cum shareholders agreement' to jointly manage the group's packet tea business. The group plans to trasnform EIIL's wholly owned subsidiary Greendale India Ltd (GIL) into a 50:50 JV with both EIIL and McLeod Russel holding…