Board approves Varun Beverages Plans to acquire PepsiCo franchise rights in India

INDIA – Varun Beverages Limited (VBL), the bottling partner of PepsiCo India, said its board has approved its plans to acquire franchise rights of the beverage and snacks in India’s South and West regions. VBL’s board approved the company’s intent to enter into a binding agreement with PepsiCo India Holdings to acquire franchise rights for…

German based Brenntag Holding gets nod to acquire Kenyan firm Desbro

KENYA - The Competition Authority of Kenya (CAK) has approved acquisition of Kenyan chemical distributor Desbro Limited by Brenntag Holding B.V., a subsidiary of Germany-based chemical distributor Brenntag Group, reports Business Daily. CAK approved the acquisition on condition that Brenntag retains 80 employees who currently work at the firm for a period of one year.…

Private Equity firm Agri-vie acquires 36.5% stake in Jumbo Brands

SOUTH AFRICA - Agri-Vie Fund II, a private equity fund and subsidiary of EXEO, has acquired a 36.5% stake in South Africa’s non-alcoholic beverage manufacturer, Jumbo brands. Avril Stassen, Senior Partner at EXEO Capital, revealed that the firm has been eying investments into the Fast Moving Consumer Goods industry for some time now. “The continued…

South Africa’s Bonnievale Wines, Wandsbeck strike US$22.4m merger deal

SOUTH AFRICA  -  Wine producing companies Bonnievale Wines Cellar Group and Wandsbeck Wines announced that the two entities will merge into one winery to be known as Bonnievale Wine Cellar reports Fin24. According to a statement by the two companies, the amalgamation of the two wineries into Bonnievale Wine Cellar, will create a wine company…

Lactalis acquires Egyptian cheesemaker Greenland Group

EGYPT – Lactalis, French giant dairy group has acquired Greenland Group for Food Industries, an Egyptian cheese maker and subsidiary of Middle East food company Americana Group. The move for Greenland was conducted through Lactalis' joint-venture facility, Lactalis-Halawa, just-food reports. In the statement announcing the deal, Lactalis said the acquisition will strengthen the joint venture's…