Kenneth Keller to take charge at B&G as Cécile Béliot assumes role as chief executive of Bel Group

US – American holding company for branded foods, B&G Foods has appointed Kenneth “Casey” Keller as its next president and CEO, effective 14 June 2021. Keller succeeds interim president and chief executive, David Wenner, who took over the roles on an interim basis after Kenneth Romanzi stepped down as group president and CEO at the end of last year. B&G said in a statement that following the appointment of Keller, Werner will assume his former responsibilities as director of the company. Most recently, Keller served as president and CEO of…

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ADM to invest US$350m in soybean crashing capacity to meet rising demand

US – Archer Daniels Midland (ADM) has announced that it will invest approximately US$350 million to build a new soybean crushing plant in North Dakota, US. The leading multinational food processing and commodities trading corporation said the new soybean plant will cater to increasing demand from the food, feed and biofuel industries. Based in Spiritwood, the crush and refining complex will reportedly feature ‘state-of-the-art’ automation technology and will have the capacity to process 150,000 bushels of soybeans per day. Construction of the facility, which ADM says is ‘strategically located’ in…

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Flipkart to expand warehouse capacity to strengthen grocery handling infrastructure

INDIA –  Flipkart, one of the largest online grocery retailers in India, has said it plans to expand its fulfilment centre capacity for grocery by more than 8,000 sq ft over the next three months across Delhi, Kolkata and other cities. The Walmart-owned company said in a statement that the additional fulfilment centre capacity will bolster its capacity to cater to over 73,000 grocery orders per day. “With this additional infrastructure, the marketplace will bring the ease of online grocery shopping to more users across the country,” a statement said.…

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Turkish retailer BIM sells 35% minority stake in Morocco’s unit to Blue Investment Holding

MOROCCO – BIM, a Turkish retail chain company, has announced the sale of 35% minority shares of the capital of its subsidiary in Morocco, Bim Stores SARL, to Blue Investment Holding, affiliated with British private equity fund Helios Investment Partners. BIM Morocco said that the total value of the sales stands at MAD 742.10 million (US$83.2 million), with the sales price per share standing at MAD 1,000 (US$112.83). BIM Morocco proceeded to the completion of its sales transaction with Blue Investment holding after both entities signed a sale and purchase…

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QuickMart stiffens competition in Kenya’s retail market plans to open four new stores

KENYA – QuickMart, Kenyan retailer and majority owned by Mauritius-based private equity firm Adenia Partners, is set to open four more stores in the country in the next one and a half months taking over the spaces vacated by the struggling Tusky’s supermarket. The first outlet will be at Chania Mall on Kenyatta Road in Thika town, the second will be situated at OTC within the Central Business District in Nairobi while the third will be at Mtwapa Mall in Kilifi. The final store will be located in Kitale town…

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Twiga Foods launches first private label product dubbed SokoYetu Rice

KENYA – Kenyan-based technology food distribution platform, Twiga Foods has further climbed the value chain with the launch of its first private label rice dubbed SokoYetu Rice. Twiga foods is known to source produce directly from farmers and delivers it to retail outlets, kiosks, and market stalls who sell to the end consumers. The launch of the new long grain rice further cements the company’s support to Tanzanian rice farmers in the Kapunga area. Freshly milled directly from paddy, SoKoYetu Rice is sold at the company’s online store known as…

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Shoprite owned Checkers opens first pet store in South Africa

SOUTH AFRICA – South Africa’s leading and fast-growing retailer, Shoprite, has opened its first pet store in the country, next to the newly revamped Checkers outlet in the Cape Town suburb of Brackenfell. The speciality store known as Petshop Science, is aimed to tap the growing consumer segment with Flux Trends indicating that South Africans spend between R300 million and R600 million on pet food per year. Being its inaugural pet store, Shoprite has indicated it will offer details on potential expansion in the future, reports Fin24. Pet care market…

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Leading international consultants PwC, Ernst & Young raise bid to oversee privatization of Ethiopia’s sugar factories

ETHIOPIA – The privatization process of Ethiopia’s state-owned sugar factories is forging on, with two international consultants, PwC and Ernst & Young submitting their expression of interest to be hired as transaction advisors to oversee the process. According to reports by Addis Fortune, the Public Enterprise Holding & Administration Agency (PEHA) invited consultancy firms to file their expressions of interest in undertaking the job last year. The winning firm, which is expected to be announced in months ahead, will be picked using “Quality- and Cost-Based Selection,” a method that is…

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Nigeria to still depend on sugar imports as cane sugar production is projected to decline by 7%

NIGERIA – Nigeria’s cane sugar production is projected to reach roughly 70,000 metric tons (MT) in marketing year (MY) 2021/22, down about 7% compared to MY 2020/21 figure of 75,000 metric tons (MT), despite the public-private sector intervention to boost local production. In 2012, the government of Nigeria approved and launched the National Sugar Master Plan (NSMP), a policy document that contains the strategic road map for the development of the sugar sector as well as the enactment of the conducive policy environment for its implementation. The policy positions the…

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