FrieslandCampina sells cream liqueurs unit Creamy Creation to Wagram

NETHERLANDS – Dutch dairy multinational, FrieslandCampina has reached an agreement to sell its cream liqueur manufacturer Creamy Creation to Dutch investment company Wagram Equity Partners (Wagram). The transaction whose details were not disclosed includes the production of cream liqueurs in Rijkevoort and sales office in Paramus (the United States of America).    The company said…

Ethiopian government to privatize 13 sugar factories to improve efficiencies

ETHIOPIA - The Ethiopian government has embarked on the process of privatizing 13 sugar factories that are operational or under construction as it seeks to enhance efficiency and improve productivity. According to Addis Fortune, the ministry of finance and the Ethiopian Sugar Corporation have released a request for information (RFI) which will be used to…

Campbell Soup sells organic food brand Bolthouse Farms for US$510m

USA - Campbell Soup has agreed to sell its organic beverages, dressings and carrots brand Bolthouse Farms to a private equity firm Butterfly Equity for US$510 million. The deal, subject to customary purchase price adjustments is expected to complete by the end of 2019. This is part of the continued portfolio review announced in August…

Brimstone exits Clover buyout deal following criticism from anti-Israel group

SOUTH AFRICA – Brimstone Investments Corporation, a South African investment firm has announced that it will not participate in the US$343.95 million acquisition deal of South Africa’s largest dairy firm, Clover Industries. Brimstone’s decision to pull out from the deal follows continued pressure arising from criticism by the lobby group Boycott, Divestment, Sanctions (BDS) South…

Danone sells US organic salads business Earthbound to Taylor Farms

USA – Danone has announced that it has reached an agreement to sell its US organic salads business Earthbound to California-based Taylor Farms for an undisclosed sum. The company said the divestment is part of its portfolio management and capital allocation optimization strategy. Earthbound Farm is said to have registered US$400 million in annual sales…

Granarolo buys majority stake in Italian cheese company Venchiaredo

EUROPE – Italian dairy company Granarolo has acquired a majority stake in Venchiaredo, a producer and distributor of cheese products for an undisclosed amount. Granarolo which makes fresh milk and dairy-cheese, dry pasta, deli meats and vegetable foods has increased its stake in the Italian firm from 33.5% to 57.5%. Founded in 1968 and is…

Devenish Nutrition acquires 42% stake in Kenya’s animal feeds firm Sidai Africa

KENYA - Devenish Nutrition, a North Ireland based agri-business firm, has acquired a 42% stake valued at US$2.22 million (Shs225 million) in Kenya based animal feed manufacturer, Sidai Africa. Christie Peacock, Sidia Africa founder said that the transaction will enable the firm boost its operations and grow its product portfolio, reports Business Daily. “I am…

Investment group Orascom to acquire Egyptian Nile Sugar for US$217m

EGYPT - Orascom Investment Holdings (OIH), a diversified investment firm, is set to acquire 100% ownership of the Nile Sugar Company, an Egypt based beet sugar and extraction plant for US$217.1 million (LE 3.76 billion). This follows Orascom board of director’s approval of the transaction details as informed by BDO Financial Consultants, an independent financial…

Grand Parade Investments’ founder reduces stake amid retirement plans

SOUTH AFRICA – Grand Parade Investments’ (GPI) founder and executive chair, Hassen Adams, has reduced his holding in the South African restaurant and gaming group by 37.6% and unveiled plans of retiring from the position this year.     According to a report by Business Day, Adams held 63.8 million shares, equivalent to a 13.47% stake…

Orkla Food acquires Swedish supplier of bakery ingredients Zeelandia

SWEDEN – Orkla Food Ingredients has announced that it has entered into an agreement to acquire Zeelandia Sweden AB, a manufacturer and supplier of margarine and other edible fats in Sweden. Zeelandia distributes food products including shortening, table oils, margarine, vegetable oils, bakery ingredients and other edible fats and oils in Sweden and exports to…