Kroger agrees to sell Turkey Hill business to private equity firm Peak Rock

USA – Kroger has announced that it has reached an agreement to sell its beverages business, Turkey Hill to an affiliate of Texas based private equity firm, Peak Rock Capital for an undisclosed sum. As part of the agreement, the Peak Rock Capital affiliate will continue to operate the Turkey Hill business out of its…

General Mills third quarter sales rise 8% with strong contributions from Blue Buffalo

USA – The multinational consumer goods company, General Mills has reported 8% increase in net sales to US$4.2 billion in the third quarter, including contributions from Blue Buffalo Pet Products which it acquired in 2018. The period ended February 24, 2019 saw operating profit increase 14% while diluted earnings per share (EPS) of $0.74 declined…

2 Sisters completes sale of Green Isle Brands and frozen foods business

UK – 2 Sisters Food Group has announced that it has completed the sale of its Green Isle Brands and Donegal catch frozen foods business to a consortium of investors for an undisclosed sum. The company said the transaction strengthens its balance sheet and reinforces its commitment to its core strategy and key operations. The…

Marfrig’s National Beef acquires Iowa Premium from Sysco for US$150m

USA – National Beef, the Missouri based beef processor and subsidiary of Marfrig Global Foods has acquired Iowa Premium, a meat packer previously owned by Sysco in a transaction valued at US$150 million. Iowa Premium, which is headquartered in Tama, Iowa, has daily processing capacity of 1,100 head of cattle. The company offers meat slaughtering…

Orkla opens new office headquarters to house its business units in Norway

NORWAY – Leading Norwegian consumer goods company, Orkla has moved its headquarters to a new building in Oslo, Norway where it will house all its business units in Norway. The new offices were inaugurated by Minister of Trade and Industry Torbjørn Røe Isaksen and will be a workplace of more than 900 Orkla employees. The…

AAK invests US$32m in expansion of its production facility in China

CHINA – AAK, supplier of vegetable oils and fats for specialized products has said that it will invest US$32 million (SEK 300 million) at its production facility in Zhangjiagang, China. The company said the investment will seek to increase capacity and support volume growth with a focus on Special Nutrition and Bakery segments. The investments…

Danish Crown sets climate-neutral goals, to become most sustainable meat producer

DENMARK – Danish Crown has set the ambitious goal to create a completely climate-neutral value chain by 2050 in a race to become the world’s leading producer of sustainable meat. Danish Crown says this will be achieved by halving the company’s climate footprint per kilogramme of pork by 2030 through intensive commitment to making the…

Mondelez buys minority stake in US functional foods firm Uplift Food

USA – Mondelez International has announced that it has acquired a minority shareholding in US-based functional foods brand, Uplift Food for an undisclosed amount. The investment is part of the company’s SnackFutures, innovation and venture initiative of the company aimed at unlocking snacking growth opportunities around the world. This is the first venture investment under…

Kemin unveils Powerpacked Molecule technology that protects food from oxidation

SINGAPORE – Kemin Industries, global ingredients supplier to the food and beverage industry has unveiled a new technology called Powerpacked Molecule™ that enhances chemical blending process and protects food from oxidation. Developed by Kemin Food Technologies, the innovation offers customers new and improved naturally derived antioxidants thus, advancing both food safety and customer satisfaction. Just…

Beyond Meat launches plant based Beyond Beef alternative to ground beef

USA – The Los Angeles-based producer of plant-based meat substitutes, Beyond Meat has launched Beyond Beef, a plant-based alternative to ground beef, suitable for vegan diets. According to the company, the new product provides the same benefits as ground beef while addressing health and environmental concerns as well as animal welfare and ethics. Driven by…