Pernod Ricard launches Seagrams Imperial Blue Whisky in the Nigerian Market

NIGERIA – Pernod Ricard, the French spirit and wine group has introduced Seagrams Imperial Blue whisky into the Nigerian market following the launch of the brand in Ghana mid this Month with an aim to further bolster its presence in Sub-Saharan Africa. The Whisky brand which is a perfect blend of quality grain spirits and imported scotch malts has been introduced into the Nigerian market, targeting the young and vibrant Nigerian whisky loving consumers. Speaking during the event, Pernod Ricard Nigeria’s Managing Director, David Langlois highlighted that the brand will…

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Nestle teams up with regional partners to launch youth-focused initiative in Africa

AFRICA – The multinational food and drink processing conglomerate corporation, Nestle in partnership with its regional partners has launched the Regional Alliance for YOUth in Sub-Saharan Africa. This joint effort is part of the company’s business-driven movement ‘Alliance for YOUth’ with a focus on creating and implementing employability programs, mentorship and training designed to equip young people with essential workplace skills. The alliance will combine the efforts of partner companies on hiring, skilling up and training young people by targeting tier three and four universities and vocational schools in and…

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AgriProtein set for global expansion with new facilities in the US and Europe

SOUTH AFRICA – AgriProtein, the world’s first industrial-scale maggot farm based on organic waste, is set for a global expansion as it plans to open a plant in Jurupa Valley, California in 2020, aimed to fill the gap of shortage of protein and abundance of trash. The plant in Jurupa Valley will be followed by extension of operations in the Netherlands and Belgium, tapping into the demand for high-grade protein for fish and poultry feed while offering a solution for the unwanted organic waste that cities and farms produce. AgriProtein…

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USDA, EPA and FDA announce new partnership with the Food Waste Reduction Alliance

USA – The U.S. Department of Agriculture (USDA), the U.S. Environmental Protection Agency (EPA), and the U.S. Food and Drug Administration (FDA) have partnered with the Food Waste Reduction Alliance in renewed efforts to combat food waste. The new public-private partnership biulds on previous achievements under the federal agencies’ Reducing Food Waste Initiative launched in 2018. Through the partnership, USDA, EPA and the FDA will formalize industry education and outreach efforts with the Grocery Manufacturers Association, the Food Marketing Institute, and the National Restaurant Association, the three founding partners of…

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Orbit Product Africa to sell manufacturing facility to Mauritian firm for US$38m

KENYA – Orbit Products Africa, a Kenyan consumer goods manufacturer, is selling its manufacturing facilities to Mauritius-based real estate investment company Grit Real Estate Income Group in a cash transaction valued at more than Sh4 billion (US$38.7m). The contract manufacturer of global firms such as Uniliver Kenya, Bidco Oil Industries, Delmonte, New KCC among others, signed an agreement with Grit Real Estate to purchase its 20 acres of land in Mlolongo which houses its factory. Orbit Products Africa intends to sell the land and buildings to Grit and remain as…

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America Investment firm TPG Capital acquires stake in Kenya’s Maziwa Ltd

KENYA – US based investment firm Texas Pacific Group (TPG) has deepened its stake in Kenya’s thriving milk sector by acquiring 33.9% stake in Kenya’s local dairy processor Maziwa Limited. TPG has acquired Maziwa Ltd through its fully-owned subsidiary Pledge Holdco Ltd who will take part in running the business that distributes milk and milk-related products across Kenya, Uganda and Zambia. The acquisition whose amount was not disclosed, was approved by the Competition Authority of Kenya (CAK). “The Competition Authority of Kenya has approved the proposed subscription of 33.9 percent…

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Carlsberg to acquire Cambrew as craft & speciality beers push third quarter revenues up by 5.3%

DENMARK – Carlsberg has signed an agreement to acquire the remaining 25% of Cambodian brewer, Cambrew one of the largest breweries in the country for an undisclosed sum. The Danish brewer unveiled the deal during its quarter three trading statement. Carlsberg posted 5.3% increase in third-quarter net revenue to DKK 18.5bn (US$2.76 billion) boosted by a 12% growth in volumes of its craft and speciality beers. The growth was also attributed to strong sales in Asia and Western Europe which helped offset a 4% decline in total sales volumes. In…

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Nutreco to acquire Cargill’s compound feed business in Portugal

PORTUGAL – Nutreco, an animal nutrition and aquafeed company has signed an agreement to acquire Cargill’s compound feed business in Portugal, for an undisclosed amount. Once the deal is completed, the business will become part of Nanta, Nutreco’s Iberian animal feed business within its animal nutrition division, Trouw Nutrition-further strengthening Nanta’s position in Portugal. “We are delighted to announce that Nutreco, has signed a deal to acquire such a reputable business,” said Nutreco COO and Trouw Nutrition CEO Harm de Wildt. “Closing this transaction is part of our strategy to…

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Molson Coors restructures to streamline operations after posting weaker Q3 results

CANADA – Molson Coors Brewing Company, has unveiled a company-wide restructuring strategy aimed at streamlining the brewers operations and rejuvenate its growth after further diving into a loss during its latest quarter. The Canadian beverage firm reported a 3.2% decline in sales during its third quarter and a net loss of US$403 million driven by Canadian goodwill impairment charge while underlying EBITDA decline by 5.6% to US$703 million. The company said that the performance was negatively affected by rapidly shifting drinking preferences and other alcoholic and non-alcoholic beverages causing beer…

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Indian online grocer Grofers raises US$20m in funding from Times Group

INDIA – SoftBank-backed Grofers, an Indian online grocer has raised US$20 million by issuing equity share and a warrant to Bennett Coleman Private Limited (BCCL), also known as Times Group. Times Group has picked up one equity share worth INR1.31 million and a warrant, defined by Grofers as a debenture, worth INR1.43 billion (US$20.12 million). A debenture is a medium- to long-term debt instrument used by large companies to borrow money, at a fixed rate of interest. Preliminary data shows that, Grofers (which turned unicorn following its US$200-million SoftBank-backed Series…

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