Irish food company Strong Roots raises US$18.3m to support expansion

UK – Strong Roots, an Ireland-based vegetarian frozen food company has raised US$18.3 million in funding led by private equity firm Goode Partners, as the company seeks to expand into the US and UK markets. […]

McCain Foods to invest US$9m in Canadian potato processing facility

CANADA – McCain Foods Canada, a division of McCain Foods Limited, has unveiled plans of investing an additional CAD12 million (US$9 million) in its Florenceville potato processing facility in New Brunswick, eastern Canada. The investment […]

Premier Foods appoints new CEO as finance head steps down

UK – Premier Foods, the Mr Kipling cakes and Bisto gravy owner has appointed Alex Whitehouse, its UK managing director as the company’s new chief executive officer. Whitehouse will take over from Alastair Murray who […]

Kraft Heinz brings back former CFO as company seeks turnaround strategy

USA – The packaged consumer foods company, Kraft Heinz has announced the appointment of former executive Paulo Basilio to the role of chief financial officer, effective 1 September. The newly appointed chief execituve officer, Miguel […]

Nestlé to invest US$245m in Brazil over the next three years to expand production

BRAZIL – Nestlé SA will be investing US$245.75 million (1 billion reais) in Brazil’s Sao Paulo state over the next three years to expand its production capabilities. Nestlé plans to set up new production lines […]

Kraft Heinz writes down US$1.2bn as first half profits shrink 4.8%

USA – Kraft Heinz reported a 4.8% decline in operating profits to US$12.4 billion in the six months to end June due to gloomier prospects for some of its leading brands, including Oscar Mayer meats. […]

Ingredion increases investment in Verdient Foods to expands production capabilities

CANADA – Ingredion, Inc. has unveiled plans of increasing its investment in Canada-based Verdient Foods to US$185 million from US$140 million by the end of 2020. The investment in Verdient Foods, a joint venture it […]

ADM reports 41.3% decline in Q2 profit amid amid challenging operating conditions

USA – Archer Daniels Midland Co (ADM), a global grain trader and food processor, reported a 41.3% decline in adjusted profit for the second-quarter ending 30th June 2019 attributed to challenging industry conditions experienced during […]

Nestlé unveils US$100m expansion plan of three factories in Indonesia

INDONESIA – Nestlé has announced a US$100 million investment to expand three factories in Indonesia, as the company aims to increase its current production capacity in the country by 25%. The investment will be used […]

Nestle Nigeria reports 22% growth in half-year profit to US$72.39m

NIGERIA – Nestle Nigeria Plc reported 22% growth in net profit for the first half of the year ending on 30 June, 2019 to US$72.39 million (N26.2bn) supported by 21% decrease in finance cost. Revenues […]