Africa focused equity firm Phatisa raises US$121m for second generation fund

AFRICA - Phatisa, a sector-focused African private equity firm has closed its second generation fund, Phatisa Food Fund 2 (PFF 2) at US$121.5 million with a target to reach US$300 million by mid-2019. PFF 2 will focus on investments in the African food value chain that is; mechanisation, inputs, poultry and meat production, food processing…

Tanzania’s chicken import ban bites as shortage looms

TANZANIA - Tanzania is facing a chicken shortage with rising retail prices, months after banning importation of poultry from its neighbours in the East African Community. Speaking to The EastAfrican, Tanzania Poultry Breeders Association secretary General Manase Mrindwa said that some firms had stopped production of day-old chicks, leading to a shortage of broilers and…

Astral’s full year’s earnings to surge 85% as poultry demand weakens

SOUTH AFRICA - Astral Foods’ Earnings per Share (EPS) for the 12 months ending 30 September 2018 is expected to increase by at least 85% from the previous year as poultry sales volumes and selling prices came under pressure towards the end of the year due to a weakening consumer demand. Improvement in performance was…

Quantum Foods expects annual profits to triple on steady earnings from eggs

SOUTH AFRICA - South Africa’s poultry, eggs and animal feeds producer Quantum Foods expects headline earnings for the year to end 30 September to increase by at least 219%, boosted by steady earnings from the eggs category, reports Moneyweb. Headline earnings per share would increase to 156.3 cents per share compared with 49 cents per…

Cargill’s European poultry business expands into Poland with acquisition of Konspol

EUROPE – Cargill, an American privately held global corporation, has reached an agreement to acquire Konspol, one of Poland’s leading value-added food companies, providing an array of products in the chilled convenience, frozen and cold cut categories. According to the company, the acquisition marks the introduction of Cargill’s global protein business into the Polish market…

American bone broth brand Kettle & Fire announces US$8m in Series A investment

USA - Kettle & Fire, the country’s leading shelf-stable bone broth brand, today announced an US$8 million Series A investment led by CAVU Venture Partners. According to the company, CAVU Ventures co-founder and managing partner Clayton Christopher will join the company’s board. The funding will be used to fuel multi-channel growth and product innovation. Kettle…

South Africa farmers fight Trump with higher import tariffs on US chicken

SOUTH AFRICA - South African farmers have called for higher tariffs on ‘cheap’ chicken imports from the United States, which are said to be becoming a threat to the poultry industry in the country, reports Fin24. SA poultry farmers said that the tariffs on the metal industry were a breach of the African Growth and…

Poultry company Scandi Standard invests 51% stake in Rokkedahl Foods ApS

USA – Scandi Standard, the company that produces, markets, and sells chicken products has onvested a 51% stake in a Danish poultry producer Rokkedahl Foods Aps. According to Scandi Standard AB, it has entered into the agreement to subscribe for approximately 51% of the shares in Rokkedahl Foods ApS (Rokkedahl Foods) through its Danish subsidiary…

New 2 Sisters CEO Ronald Kers sets out a new transformation agenda

UK – The new CEO of UK’s poultry manufacturing company 2 Sisters, Ronald Kers, has set out new plans of transformation and organisational changes in the first week of his reign. According to the company, the ex-CEO of Muller has also informed the colleagues of new ‘Framework for Success’ plan and spelled out his vision…

CDC and multiple states investigate Salmonella infections linked to backyard poultry

USA – Centres for Disease Control and Prevention (CDC) and multiple states are investigating several multistate outbreaks of Salmonella infections linked to contact with live poultry in backyard flocks. According to CDC, it made the last update on June 8, 2018, to which 88 more ill people have been reported and the most recent illness…