Walmart acquires Flipkart for US $16b in one of the largest-ever ecommerce deals

INDIA - Walmart Inc. on has announced its high profile acquisition of Flipkart for US$16 billion for a valuation of over US$20 billion, making it the largest ecommerce acquisition in the world. ET Retail has reported that the 77% acquisition deal of the Bengaluru-based company, as per sources, is also the largest buyout for the…

IFF enters a definitive agreement to acquire Frutarom for US$7.1bn

USA - International Flavors & Fragrances Inc. has announced that they have entered into a definitive agreement under which IFF will acquire Frutarom in a cash and stock transaction valued at approximately US$7.1 billion, including the assumption of Frutarom’s net debt. Frutarom makes natural colors, food ingredients, enzymes for customers including Unilever, Nestle and Coca…

AccorHotels acquires Mövenpick Hotels for US$567m for African reach

FRANCE - AccorHotels, the French multinational hotel group has acquired Mövenpick Hotels for US$567 million from Saudi Arabia’s Kingdom Holding Company as it expands reach in three continents including Africa, reported Reuters. While AccorHotels operates in 95 countries through ownerships and over 4200 hotels in franchises, Mövenpick Hotels & Resorts, the Switzerland based hotel management…

Mondelēz International announces agreement to acquire Tate’s Bake Shop

USA - Mondelēz International has announced an agreement with The Riverside Company, a global private equity firm, and other shareholders, including Founder Kathleen King, to acquire Tate’s Bake Shop for approximately US$500 million. Founded in 2000 on Long Island, N.Y., Tate’s has cultivated a devoted consumer following across the country. According to the company, Tate’s…

Kroger completes sale of convenience store unit to EG Group for US$2.15bn

USA - Kroger, the American retailing company has announced that it has completed the sale of its convenience store unit to the UK based fuel stop and convenience store retailer, EG Group. The transaction includes 762 convenience stores operating under the Turkey Hill, Loaf ‘N Jug, KwikShop, Tom Thumb and QuikStop brands, including 66 franchise…

Sainsbury’s tables US$10 billion bid for Walmart’s Asda in an international advance

UK - Sainsbury's, the second largest chain of supermarkets in the UK has made what is considered as one of the biggest international move in the combative retail sector to merge with Walmart’s Asda for US$10 billion. Sainsbury’s is beefing up competition against Tesco, UK’s leading retailer in grocery and general merchandise for the lucrative…

Nestlé Purina PetCare acquires majority stake in Tails.com

UK - Nestlé Purina PetCare has acquired a majority stake in Tails.com, a direct-to-consumer, tailor-made dog nutrition business based in the UK in a commitment to provide happier and healthier lives to pets through proper nutrition and care. With the rapid growth of personalised pet nutrition, as well as subscription services, Nestlé Purina’s shareholding in…

Premium Brands acquires meat snacks producer Oberto Brands

USA - Premium Brands Holdings has announced the acquisition of the North American brand and manufacturer of beef jerkey and other protein based snack foods, Oberto. The purchase encompasses all of the assets and operating divisions of Seattle based Oberto Sausage company, and the transaction expected to close within the next four to six weeks.…

Zambeef completes majority stake sale of Zampalm to IDC

ZAMBIA - Zambeef Products Plc has announced that it has completed the sale of its majority stake in its wholly owned subsidiary and oil producer, Zampalm Ltd to the Industrial Development Corporation of Zambia Limited (IDC) for US$16 million in cash. Zampalm Ltd was incorporated in 2009, has some 409,506 palms planted on its plantation, supplies…

Lesaffre announces the acquisition of Tunisia’s Rayen Food Industries

TUNISIA – Lesaffre, a French yeast manufacturer and the world's largest producer, has announced the acquisition of a majority shareholding in the company Rayen Food Industries in Tunisia. Rayen Food Industries is the largest production plant of baker’s yeast in Tunisia. This acquisition is in line with Lesaffre’s goal of strengthening its presence on the…