Global dairy alternatives market to surpass US$37.5bn by 2025

WORLD – With the increasing shift in consumer preference for plant-based products, the global diary alternatives market is expected to chalk out remunerative growth trend through a diverse range of verticals. A recent market survey by Global Market Insights projects that the dairy alternative market size will expand significantly and exceed US$37.5 billion by 2025, benefiting from increased consumer demand of healthier offerings. In fact, Global Market Insights says that growing health consciousness, especially due to improved minerals and vitamins uptake is already catalysing the demand for flavored milk from…

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Belgian food tech start-up Deliverect raises US$17.63m to expand internationally

BELGIUM – Deliverect, the Belgian start-up streamlining the restaurant industry with its online food delivery management software, has raised €16.25 million (US$17.63m) in its Series B funding round to support its global expansion ambitions. The funding round was led by OMERS Ventures with existing investors Newion, Smartfin, and the company’s founders also participating. Deliverect is a subscription-based service that integrates third-party online ordering platforms like Uber Eats, Deliveroo, Glovo, and Doordash into restaurants’ point-of-sale systems, automating the inbound online order flow through a single point. Deliverect eliminates the requirement for…

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Broadway Group, Coca-Cola beef up Kenya’s fight against COVID-19

KENYA – Broadway group of companies, producers of well-known white and brown wheat mill bread under the famous Broadways brand, have joined in the fight against the spread of the COVID-19 pandemic with a donation of Ksh 25 million (US$233,000) toward the National Covid-19 Emergency Response Fund in Kenya. The donation was broken down as KSh7.5 million (US$70,000) and 10,000 bales of Phulka Atta Mark 1 Chappati Flour valued at Ksh 12.5 million (US$116,500) towards the National response fund and Ksh 5 million (US$46,600) towards the COVID-19 Kiambu County Emmergency…

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Manna Tree raises US$141.5m to invest in health and wellness food brands

USA – Manna Tree Partners, a Colorado-based investment firm that invests in food companies focused on human health and wellbeing, has raised US$141.5 million for its first fund, Manna Tree Partners Fund I, L.P. Manna Tree Partners was founded in 2018 by Gabrielle Rubenstein, Chief Executive Oficer; Ross Iverson, Chief Inevstment Officer; and Brent Drever, Choef Operating Officer. Manna Tree Partners CEO Gabrielle noted that as the demand for healthy food is rising dramatically, the capital raised will be investing in companies that produce, process and distribute healthy food. The…

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IMCD opens new location in Dubai to expands its presence in the Middle East

NETHERLANDS – IMCD, one of the leading distributors of speciality chemicals and food ingredients, is has opened its new offices in Dubai to complement its operations in Egypt and support its expansion in the Middle East. IMCD first entered the Middle East region by opening an office in Cairo, Egypt in 2018. The Dutch ingredients supplier says that the new office in Dubai will be instrumental in scaling up its operations in the Middle East. From the new office, IMCD notes that it will now be coordinating operations in the…

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Fintech acquires Armadillo Insight to bring actionable intelligence to alcohol industry

USA – Financial Information Technologies (Fintech), one of the leading business solutions providers for the alcohol beverage industry, has acquired Armadillo Insight, to expand its specialized technology across the alcoholic beverage industry. Armadillo Insight is a company that turns complex craft beer data into sales and marketing intelligence that drives product placement across chain retailers. Fintech said that the acquisition furthers its mission to deliver specialized technology that maximizes efficiency and improves communication across the three tiers of the alcohol industry. Fintech has been providing solution to solves the unique…

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KeHE announces mutli-year partnership with Spoiler Alert to reduces food waste

USA – Specialty & fresh products distributor to chains and independent groceries, KeHE has announced its multi-year partnership agreement with Spoiler Alert aimed at reducing food waste in its supply chain. Spoiler Alert is a venture-backed, technology company, helping the grocery supply chain manage unsold inventory more effectively. The Boston-based company has developed sales management and analytical tools, along with a scalable, proprietary business-to-business trading platform that increases its partners’ performance. KeHE and Spoiler Alert have created a mutually beneficial partnership that will support KeHE’s U.S. distribution centers with inventory management, waste prevention,…

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Tongaat Hulett increases hectares to be put under winter maize project to 2,000ha

ZIMBABWE – Tongaat Hulett Zimbabwe (THZ) has availed 2 000 hectares for this year’s food initiative that will for the first time also cover traditional grains. This comes as the provincial leadership of Lowveld, south-eastern Zimbabwe has appealed to sugar cane farmers with fallow irrigable land to commit at least one hectare towards the winter maize project and get inputs support from Government under the Command Agriculture initiative, reports the Herald. The response from Lowveld cane farmers willing to contribute in reviving the country’s food security by also growing maize has been…

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Financial Regulatory Authority of Egypt approves Cairo 3A mandatory offer to acquire ESGC

EGYPT – The Egyptian Financial Regulatory Authority (FRA) has agreed to publish the mandatory tender offer (MTO) submitted by integrated agri-commodity trader and manufacturer, Cairo 3A for International Industries to acquire the Egyptian Starch and Glucose Company (ESGC). ESGC is a public traded company, whose major shareholders are the Americana Group, Americana Egypt and Cairo Poultry. ESGC specialize in producing and marketing corn starch, glucose syrup, corn oil, gluten feed and meal. FRA clarified in a statement that Cairo 3A’s MTO includes the purchase of up to 50.077 million shares,…

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Zambian Breweries targets 5,000 cassava farmers for production of Eagle Lager

ZAMBIA – Zambian Breweries Plc, a subsidiary of AB InBev is championing commercialization of cassava through the production of Eagle Lager and is targeting to buy the crop from 5,000 farmers this year. In 2019 the brewer bought a capped volume of 1,933 tonnes of cassava, creating farmer incomes of K2.554 million (US$140,000) for 729 farmers from Luapula, Northern and Muchinga provinces. Zambian Breweries corporate affairs director Ezekiel Sekele said the proposed number of farmers might be affected by the coronavirus as the consumption of beer is projected to reduce due…

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