Olam secures US$1.45Bn financing facility to bolster its sustainability sourcing platform

SINGAPORE –  Leading global food and agri-business company,  Olam International Limited has secured a US$1.45 billion facility to help fund activities carried out over its AtSource sustainability insights platform. According to Olam, AtSource is  a “sustainability insights platform” which gives customers a view of their supply chain sustainability parameters. The agribusiness company further notes that the platform also provides insights into how the its customers can effect positive change within the ecosystem and create value for all.  Roel Van Poppel, CEO of AtSource, explains that the sustainability platfrom was created…

Read More

Cargill sells stake in Alvean joint venture to Brazilian partner Copersucar

BRAZIL – Agricultural commodities trading giant, Cargill has agreed to offload its 50% stake in the Alvean sugar trading joint venture to its Brazilian partner and world’s largest sugar and ethanol company, Copersucar. Upon completion of the transaction, Cargill will exit the global sugar trading business, in line with its strategic goal of focusing more on its core food, agriculture, and trading businesses. The agricultural commodities traders however say that it will remain active in both global commodity trading as well as the sugar ingredient business in Brazil, Mexico, and…

Read More

Nestlé unveils coffee-flavored S.Pellegrino Essenza line, completes sale of North America water business

US – World’s number one food manufacturing company, Nestlé is adding a coffee-inspired line to its S.Pellegrino Essenza portfolio of flavored sparkling mineral waters. The company revealed that the new gently caffeinated S.Pellegrino Essenza products are available in three flavour combinations namely vanilla & coffee, cocoa & coffee and caramel & coffee. Bottled at source in Italy and scheduled to launch in US, the new zero-calorie line is free from sweeteners and contains 30mg of caffeine, which is said to be around one third of the amount in an average…

Read More

Agricultural Finance Corporation taps NOCK’s George Kubai to be its new Managing Director

KENYA – Development finance institution Agricultural Finance Corporation (AFC), has appointed George Kubai as its new managing director effective April 1 2021. Prior to his appointment, Mr Kubai was the General Manager, Downstream Operations at the National Oil Corporation of Kenya (NOCK). The new boss takes over from the lender’s Corporation Secretary Mrs Rose Ochanda who has been the acting Managing Director since the retirement of the long-serving CEO Lucas Meso who stepped down in October 2020 after almost 10 years at the helm. Announcing the appointment, AFC Board Chairman…

Read More

DSM acquires Amyris’ flavour and fragrance business to bolster nutritional ingredients portfolio

NETHERLANDS – Global Biosciences Company, DSM is poised to expand its nutritional ingredients portfolio following an agreement with Amyris to acquire its flavor and fragrance (F&F) bio-based intermediates business for an upfront consideration of US$150 million. According to statement from the company, the deal will add seven intermediate products to its existing personal care and aroma ingredient activities. Of the new intermediate products being added, four already generate meaningful sales and (Earnings Before Interest, Taxes, Depreciation, and Amortization) EBITDA. Two of the products have just launched and another one is…

Read More

Senegalese food-tech startup LADC, Nigerian digital food cooperative Pricepally get funding

WEST AFRICA – Senegalese food-tech startup Les Ateliers de Corinne (LADC), has secured an undisclosed amount of funding from WIC Capital, as Nigerian group-buying platform Pricepally undertakes pre-seed funding round. Launched in 2014 by Corinne Erambert, LADC specializes in digital culinary marketing, organization of cooking workshops and cake design. The investment will enable the Dakar based company to scale up by financing the acquisition of professional equipment, the recruitment of a professional team and the installation into new premises. “I am delighted with this partnership which reinforces the image and…

Read More

KFC opens new outlet in Ghana featuring safe, convenient services

GHANA – Masco Foods, franchise owners of the KFC brand in Ghana has cut ribbon to its 20th store in Accra. The new store features KFC’s brand-new design, offering not only dine-in services but also takeaway, drive-thru and delivery options, in a bid to offer safe, convenient and seamless service to customers as the world continues to battle with the COVID-19 pandemic. The management of Masco Foods while opening the new outlet, took the opportunity to express their gratitude to the company’s staff for their relentless effort in ensuring that…

Read More

Friesland Campina Ingredients launches new product to aid in production of softer protein bars

NETHERLANDS– FrieslandCampina Ingredients (FCI), a subsidiary of Dutch multinational dairy cooperative Royal  FrieslandCampina N.V. has unveiled a new portfolio designed to processors make softer protein bars. According to FCI, the protein bar market in Europe is anticipated to grow at a CAGR of 17 percent as from  2015 to 2024 buoyed by rising popularity of the products among consumers. The company however notes that palatability continues to be a major issue for many formulators. This company notes is going to have an impact on the bottomline of companies that don’t…

Read More

Chr. Hansen completes its US$939m sale of Natural Colors business

DENMARK – Global biosciences company Chr. Hansen has completed the sale of its Natural colours business to global investment organization EQT in line with its 2025 strategy of focusing on microbial and fermentation technology platforms. The divestment covers business operations with asset transfers in more than 30 countries including the transfer of five separate corporate entities and around 600 employees. According to a FoodIngredientsFirst report, the Danish-based company had agreed to sell its business to EQT in September 2020 for US$939 million on a cash and debt-free basis. The company…

Read More

South Africa restricts off-site alcohol sale over Easter weekend, BaSa slams the decision

SOUTH AFRICA – South Africa has announced a partial ban on the sale of alcohol over the long Easter weekend to stem the spread of the coronavirus. Addressing the nation, President Cyril Ramaphosa said alcohol fuels reckless behaviour, and for this reason, the government has banned the sale of alcohol that is taken away from the point of sale to be consumed elsewhere. The ban will be in effect from Friday, 2 April until Monday, 5 April, which is the duration of the Easter holiday. “The sale of alcohol for…

Read More