Nestlé India rolls out financial & medical support programs to cushion employees from pandemic

INDIA – Nestlé, the world’s largest food company, has scaled up its financial and medical support programs in India to cushion its employees from the adverse effects of the covid-19 pandemic. The support comes at a time when India is recovering from a third wave which at its peak in May saw daily cases surpass the 400,000 mark. Recent data show that the cases have since significantly dropped thanks to a number of efforts implemented by both the federal and state governments. Employees benefit from enhanced covid-19 support As the…

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Mondi completes acquisition of Turkish corrugated packaging company Olmuksan

TURKEY – Mondi, a leading British multinational packaging and paper group, has completed the acquisition of a 90.38% stake in Olmuksan International Paper from International Paper. The acquisition culminates a process which started earlier this year when International Paper announced that it had reached an agreement to sell its 90.38% interest in its corrugated packaging business in Turkey to Mondi, for approximately €66 million. The Olmuksan business includes five corrugated packaging plants, which supply a diverse customer base with packaging for food, beverage, agriculture and industrial applications. For the 12…

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Zimbabwe to undertake inaugural artificial insemination on rabbits in partnership with South African specialist

ZIMBABWE – Zimbabwe is set to commence the use of artificial insemination (AI) on rabbits for the first time, following the Zimbabwe Commercial Rabbit Breeders Association (ZICORBA) entering into a deal with a reputable South African veterinary specialist, Vriesit Andrology Laboratories, for provision of the technology. The agreement is expected to significantly boost the country’s commercial rabbit breeding industry. According to reports by Chronicle, France and South Africa are among a handful of countries globally that practice artificial insemination on rabbits, especially for the purposes of commercial production of rabbits…

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Ethiopia’s leading poultry company EthioChicken Group receives US$5m backing from Finnfund

ETHIOPIA – Ethiopia’s leading producer of day-old-chicks and poultry feed, EthioChicken Group has received US$5m equity investment from OP Finnfund Global Impact Fund I, the first global emerging markets impact fund in Finland. Finnfund, a Finnish development financier and impact investor acts as an anchor investor and advisor to the fund. The financing, which is a follow-on investment from Finnfund’s backing of the company in 2017, is aimed to generate jobs, improve food security and reduce poverty in Ethiopia. “We are very happy to welcome OP Finnfund Global Impact Fund…

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Spur launches first drive-thru restaurant in South Africa as Burger King’s acquisition gets blocked

SOUTH AFRICA – Spur Corporation, South Africa based fast–food chains operator, has expanded its service offering with the launch of its first drive-thru restaurant in Pretoria. The move is in response to the changing consumer lifestyles, as it aims to broaden its appeal and foster a convenient way for its customers to get their favourite Spur meals. While the drive thru business model brings with it novel innovation for the group, some things will still remain the same as the traditional Spur dishes sold at its restaurants, including burgers, chicken…

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Kraft Heinz to invest US$198m in expanding manufacturing capabilities of UK facility

UK – Kraft Heinz, the fifth-largest food and beverage company in the world, has announced plans to invest £140 million (about US$197.7m) in expanding and modernizing Manufacturing capabilities its Kitt Green food facility, which is located near Wigan, in the UK. The company says that the proposed investment- which is subject to final US approvals from Kraft Heinz later this year- could create up to 50 new full-time positions If approved, the project would be Kraft Heinz’s biggest investment in more than two decades in an existing manufacturing site outside…

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Ethiopia beefs up edible oil production with launch of new US$114m processing plant

ETHIOPIA – WA Group, Ethiopian multi-sectoral company has set the turbines rolling at its newly built Birr 5 billion (US$114m) edible oil processing plant. The recent investment is a move by the company from importation of edible oil into the country, to refining of crude palm oil imported from abroad, and crushing of locally sourced oil seeds such as niger seed, sesame seed, peanut, soya bean, and haricot bean. WA Oil Factory, located in Amhara Regional State, has the processing capacity of 1.3 million litres of edible oil daily. According…

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Ferrero Group to expand snack portfolio with acquisition of Burton’s Biscuit Company

UK – Ferrero Group, an Italian manufacturer of branded chocolate and confectionery products, is looking to grow its biscuit portfolio with the acquisition of Burton’s Biscuit Company. Burton’s Biscuit Company is a UK leading biscuit manufacturer which supplies both quality branded and retailer brand biscuits. It owns and bakes important brands such as Maryland, Jammie Dodgers and Wagon Wheels and also bakes biscuits for major retailers and global brands. The British company is believed to have been sold for about £360m by the Ontario Teachers’ Pension Plan Board, an investment…

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Seed Co to boost production capacity in Tanzania with US$4.3m investment in new seed processing plant

TANZANIA – Seed Co. Tanzania, the subsidiary of regional seed producer Seed-Co Group, is seeking to establish a new seed processing factory in Iringa, Central of Tanzania, worth Tsh 10 billion (US$4.3m). The new processing facility is an addition to the company’s existing factory located in Arusha, established in 2009. It will have a processing capacity of 40 tonnes of maize and other seeds per day, meeting the high demand of quality seeds in the country and serving the rest of the East African Community (EAC) region i.e., Kenya, Uganda,…

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Shoprite finalises sale of Nigerian operations, Kenyan retailer Tuskys seeks to lease brand

NIGERIA – Africa’s largest retailer, Shoprite Holdings, has officially transferred ownership of its Nigerian subsidiary to Ketron Investment Limited, a company owned by a group of institutional investors led by property firm owner, Persianas Investment Limited. This change in ownership has also received the approval of the Nigerian regulator, the Federal Competition and Consumer Protection Commission, reports The Punch. According to Ketron Investment, the divestment by Shoprite was in line with its strategy to change from an ownership model to a franchise model, to enable the brand to remain in…

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