Kraft Heinz profits decline 0.3% in first quarter results

USA - Kraft Heinz profits declined 0.3% to US$893 million in its first quarter ended March results which show net sales declined 0.3% to US$6.3 billion while organic net sales decreased 1.5% compared to the same period a year ago. The company said the financial results reflected higher input costs, lower net sales in the…

Famous Brands expects to report US$9.21m loss from Gourmet Burger deal

SOUTH AFRICA - The South African fast-food franchises, Famous Brands said it expected to report a US$9.21m operating loss from the UK acquisition of Gourmet Burger Kitchen (GBK) in the financial year ending February results. Business Day reported its share price fell 5.4% to US$8.03 on Thursday morning after it warned shareholders it expected to…

2 Sisters appoints Ronald Kers as new CEO

UK - 2 Sisters Food Group, Birmingham based privately owned food manufacturing company, has appointed former global CEO of Muller, Ronald Kers as its new Chief Executive Officer effective 1 June 2018. He joined Muller in January 2017 as UK CEO, combining periods of service from Nestle SA where he joined in 2003 responsible for…

Choppies to spend US$3m on new stores in Kenya and Tanzania

KENYA - The Botswana retailer and supermarket Choppies has unveiled plans to invest US$3 million in it’s a new regional expansion strategy with two stores in Kenya and another one in Tanzania this year, reports theEastAfrican. The Kenyan stores will attract US$2.37 million while US$700,000 for the Tanzanian store, one the company stated would be…

Astral Foods manage improved results with 15% revenue increase despite bird flu

SOUTH AFRICA - Astral Foods, the South African integrated poultry producer has reported positive results, having managed 15% increase in revenue to US$535.93 million despite challenges with the Avian influenza in the period, according to IOL Business report. While operating profit grew by 392.6%, the group’s operating profit margin increased 15.7% as compared to the…

Pick n Pay partners with MasterCard to donate more free meals at its stores

SOUTH AFRICA - Pick n Pay, the second largest supermarket chain store in South Africa has held up its corporate responsibility through a partnership with MasterCard, where individuals will automatically donate a meal to the Tap to Feed initiative at any Pick n Pay store. Business Daily reported that this initiative was launched on May…

Astral commits US$104.7m investment in plant expansion in 3 years

SOUTH AFRICA - Astral Foods, a leading integrated poultry producer has announced plans to invest in plant expansion with more than US$104 million in capital expenditure for the next three years to improve capacity and efficiencies, according to Business Report. Astral CEO Chris Schutte revealed the plans after reporting improved results, a 15% rise in…

Beyond Meat to target sales in Europe, Asia and Africa this year

USA - The Los Angeles plant-based meat substitute producer, Beyond Meat is seeking to go beyond the US in a global expansion as it targets to enter over 50 new markets around the globe. According to an article by FoodBev, the brand will work with leading distribution and foodservice partners to roll out its Beyond…

Uber Technologies to deliver food by drone in new test programme

USA - Uber Technologies Inc., the largest food delivery business in the world, plans to deliver food by drone in San Diego, USA as part of a wide-reaching commercial test program approved by the federal government, according to Bloomberg. Dara Khosrowshahi, the chief executive officer, said people should expect meal delivery in five to 30…

Naspers to advance investments in SA’s rapidly growing food delivery market

SOUTH AFRICA - The South African tech and ecommerce giant Naspers Ltd has declared interest to ramp-up investments in South African food delivery business Mr D Food after selling its 11.18% stake in India’s largest e-commerce marketplace, Flipkart, to US retail juggernaut Walmart. According to Business Day, the company also raised US$12.18 billion from selling…