Walmart nears close of majority stake deal in India’s Flipkart

USA - Walmart, the American multinational retail corporation is likely to close a deal to acquire majority stake in the Indian ecommerce company, Flipkart by June in what ET Retail reports could be the biggest acquisition of an online business by the retailer. Walmart is stepping up its online business against Amazon, which Bloomberg reports…

McCain Foods completes its investment in the Canadian TruLeaf business

CANADA - McCain Foods Limited, a global leader in appetizers and snacks, has completed a strategic investment in TruLeaf Sustainable Agriculture, a highly innovative Canadian agricultural technology company. TruLeaf has developed proprietary indoor vertical farming technology to grow fresh and nutritious leafy greens of high quality and flavour, in an environmentally sustainable way, 365 days…

Packaging specialist Bowler Metcalf sales its 41.38% stake in SoftBev

SOUTH AFRICA - Bowler Metcalf, manufacturer and seller of plastics and plastic moldings has completed the sale of its 41.38% stake in SoftBev, a company engaged in the production, bottling, and marketing non-alcoholic beverage products in South Africa. Upon the approval of the sale, Bowler’s share price finished 12.2% stronger at US$0.84 and that the…

China’s agri-company buys 25% stake in Ausnutria Dairy Corp. for US$250m

ASIA - CITIC Agri Fund Management Co Ltd, the private equity arm of CITIC Securities Company Limited has acquired a 25.18% stake in an investment holding firm, Ausnutria Dairy Corp. for US$250million to become the company’s largest shareholder. In a filing to the stock exchange reported by Reuters, Ausnutria said that CITIC Group Corp Ltd,…

Accor SA acquires 50% stake in Mantis Group to expand into African hotel market

SOUTH AFRICA - Accor SA, the French multinational hotel group has expanded its reach into the African continent by acquiring a 50% stake in the South African- based Mantis Group, according to Business Report. Mantis group, traded under the name, Mantis Collection is an exclusive collection of privately owned, award-wining, star properties all around the…

SGS acquires Oleotest as it expands its reach in Belgium

BELGIUM - SGS SA, the Geneva-based multinational company that provides inspection, verification, testing and certification services has acquired Oleotest NV based in Belgium for an undisclosed sum. Oleotest NV, founded in 1959 in Antwerp, provides chemical testing services in food, feed and agricultural commodities. According to SGS, the company which has a lab that is…

Unilever partners with Ioniqa & Indorama in new PET recycling technology

NETHERLANDS - Unilever has partnered with Ioniqa, a high-tech chemical company and producer of PET resin Indorama Ventures to develop a technology that would allow recycling of plastic waste into virgin grade material for the food industry. The technology, pioneered by Ioniqa, is able to convert any PET waste - including coloured packs back into…

JM Smucker to acquire Ainsworth Pet Nutrition for US$1.9 billion

USA - JM Smucker has announced the acquisition of Ainsworth Pet Nutrition for US$1.9 billion plus an estimated tax benefit of US$200 million and considers a divestiture of its US baking business including brands like Pillsbury and Martha White. The acquisition aims at strengthening the company’s pet food portfolio to drive growth and expand its…

Kerry Group acquires Spanish marinades producer Hasenosa

IRELAND - Kerry Group, an Irish food and nutrition company has acquired Spanish food firm Hasenosa, a Spain company which produces specialty flours, batters and tempuras for an undisclosed sum. The company, whose brands include Charleville, Denny and Cheesestrings, said the acquisition would complement its globally-focused taste and nutrition business. The Galicia-based firm is a…

Azelis inks distribution deal with biopolymers supplier, CP Kelco

INDONESIA - Azelis, specialty ingredients distributor and supplier has partnered with CP Kelco,  a leading hydrocolloids producer to enhance accessibility of its diverse range of products and innovative services including carrageenan, pectin, gellan gum and xanthan gum products in Indonesia. The partnership strengthens existing agreements between the two companies in Europe, Middle East and Africa…