Day: May 19, 2021

Kind launches plant based ice creams as Ferrara revamps fruit snacks portfolio

Editor

US –  Kind Healthy Snacks, a better-for-you snack company owned by Mars Incoporated,  is entering the ice cream aisle with new plant-based Kind Frozen Pints. The non-dairy frozen desserts contain 4 to 6 grams of protein per serving and feature a base of pear juice, tapioca starch and/or syrup, coconut oil, sea salt, sugar, water, gum acacia, sea salt, soy lecithin, tara gum, guar gum and carob bean gum. The recently launched treats come in seven flavors: dark chocolate almond sea salt, dark chocolate peanut butter, cherry cashew, coffee hazelnut,…

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Eat Just secures funding to accelerate research and development of its cultured chicken product

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US – Alternative protein company, Eat Just has raised US$170 million in funding for the expansion of its Good Meat cultivated meat division, as it prepares for market entry in the US. Eat Just plans to use its latest funding to increase capacity and accelerate research and development of its Good Meat cultured chicken product. The company is particularly focused on investing the funds in quickly scaling production in North America and Asia through multi-million-dollar investments in the US and Singapore. A world leader in alternative proteins Eat Just has…

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AB InBev transfers Jose Moran to be Tanzania Breweries’ Country Director from Zambian Breweries

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ZAMBIA – Zambian Breweries Plc, a subsidiary of AB InBev, has made changes in its leadership team with the appointment of Michelle Kilpin, who is currently Innovation Director – Africa Zone for AB InBev, to be its new Country Director. Ms. Kilpin replaces Jose Moran who has held the position since September 2017 and will be leaving the business to take up a new appointment at the same capacity in the brewer’s sister company, Tanzania Breweries Limited (TBL). The new appointee has a Bachelor of Commerce degree from the University…

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Zambian producer of pre-cooked beans Mushili Beans plans to expand offering

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ZAMBIA – Mushili Beans, a Zambian processer and supplier of affordable pre-cooked frozen beans that require 10-15 minutes of cooking, is seeking to expand its product range to introduce more varieties with a longer shelf life. This will be made possible through the support of Prospero Zambia, a UKaid-funded private sector development entity. Mushili sources its beans from small-scale farmers of which the majority are women hence providing a steady market for their produce and provide income opportunities. The expansion will position Mushili as a market leader in the supply…

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India’s annual coffee production to increase by 5% as Honduras, Indonesia record declines

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INDIA – India’s Coffee production for marketing year (M/Y) ) 2021/22 is forecast to increase by 5 percent to 5.41 million 60-kilogram bags as above normal pre-monsoon rains coupled with expectations of a normal monsoon are expected to improve yields, especially for Robusta in major growing regions. This is according to recently released projection by the Foreign Agricultural Service (FAS) – India of the United States Department of Agriculture (USDA). More specifically, Arabica production is estimated at 1.36 million 60- kilogram bags (81,600 MT) with Robusta production estimated at 4.05…

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Indian food processor Allana Group halts operations in Ethiopian unit following harsh operating environment

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ETHIOPIA – Frigorifico Boran Foods Plc, the Ethiopian subsidiary of India-based Allana Group, has shut down its US$60m abattoir, after slightly over a year since it commenced operations. The company has attributed the stalemate of operations to rampant insecurity in the area, insufficient livestock supply, high competition from contraband livestock market and high local meat prices. The closure has meant that close to 300 people have lost their jobs, and the plant currently employs only a few dozen security and maintenance workers. Sitting on a 72-hectare piece of land in…

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Nigeria’s Agvest Limited to list US$12.1m cashew nut contracts to raise funds for expansion

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NIGERIA – Agvest Limited, Nigerian agricultural value chain player, is seeking to list cashew nut contracts worth N5 billion (US$12.1m) through diversified financial instruments. The AgGroup is a group of interrelated companies with investments primarily along various crop and livestock value chains of the agricultural sector. Its investments span across microfinance, fund management, farming, food processing, communication and food retail/distribution. In readiness for the listing, Lagos Commodities and Futures Exchange (LCFE) has successfully screened the frontline player. According to reports by This Day Live, financial instruments worth N1.5 billion (US$3.6m)…

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Shoprite holdings appoints two new non-executive directors to its board

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SOUTH AFRICA – Shoprite Holdings Ltd, Africa’s largest consumer goods retailer has added new blood to its board with the appointment of two respectable and experienced accounting professionals and board members, Nonkululeko Gobodo and Linda de Beer as independent non-executive directors. The group has also indicated that both appointees will serve as members of the company’s audit and risk committee. These appointments, effective from 11 May 2021, follow the November 2020 appointment of Wendy Lucas-Bull as Shoprite’s chair. Lucas-Bull with extensive experience as a chairperson and non-executive director on numerous…

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Kakuzi Plc to strengthen business with earmarked US$3.7m capital injection

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KENYA – Kenyan integrated agri-business firm, Kakuzi Plc, has announced that it will invest more than Ksh400 million (US$3.7m) in capital expenditures (CAPEX) this year, to expand production and upscale its smallholder operations value, in a bid to boost the global positioning of Kenyan avocados. Other than boosting production and market for its core crop avocado, the fresh food producer and exporter has indicated it will continue to invest in diversification projects for its macadamia, livestock, commercial forestry business lines and experimenting with the new blueberry venture. This was revealed…

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Hershey poised to expand offering with acquisition of better-for-you confectionery brand Lily’s

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US – The Hershey Company, one of the largest chocolate manufacturers in the world, has  entered into a definitive agreement to acquire Lily’s, a high-growth, better-for-you (BFY) confectionery brand.  Based today in Boulder, Colo., Lily’s traces its roots to co-founder Cynthia Tice’s decision to raise awareness about better-for-you foods by opening Center Foods, a natural foods store, in Philadelphia in 1978. In 2012, the Cynthia launched four Lily’s chocolate style bars nationally in Whole Foods Market. Almost a decade later, the brand’s expanded line of bars, baking chips and other…

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