ICL launches new hub to support growth of innovative food and beverage startups

ISRAEL –  ICL Group, An Israeli global specialty minerals and chemicals company, has launched a new startup hub is designed to propel innovative food tech and agri-tech start-ups to the market. Dubbed ICL Planet, the new startup hub also aims to provide enterprises with a broad network of support, including investment and mentorship. According to a statement from the company, ICL Planet is designed to benefit both early-stage, pilot-ready start-ups and more mature, market-ready start-ups. The new start-up hub will center activities on two core areas of competency. The first…

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Uganda’s Crown Beverages invests in new water processing plant, launches jumbo sized returnable bottle of Nivana water brand

UGANDA – PepsiCo, through its subsidiary Crown Beverages Limited (CBL), has established a new plant with two dedicated water processing lines in Uganda. Boosting the company’s production capacity and broadening its market share, CBL has unveiled the new 20 litre jumbo size bottle of its Nivana water brand. “It is with great pride and immense pleasure that I introduce to you the latest addition to the Crown Beverages Limited product list, the Jumbo size Nivana water packaged in 20 litres returnable Bottle,” excitedly stated CBL CEO, Paddy Muramiirah. CBL’s move…

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Kenya’s manufacturing giant Devki Group invests US$16m in new fertilizer plant, seeks to pump in US$46m to revive Mumias Sugar

KENYA – Devki Group of Companies, industrial manufacturing giant in Kenya, has pumped Ksh 1.8 billion (US$16m) in the establishment of a new fertilizer plant. The new investment has come less than two years after Devki Group’s subsidiary, National Cement Company, acquired ARM assets in Kenya, which included its industrial minerals business, fertilizer unit, silicates business and mining operations for US$50m. The former ARM fertilizer arm and producer of leading brands such as Mavuno Planting, Mavuno vegetables and Mavuno top dressing, has been since renamed to Maisha Mineral Fertiliser. The…

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Nigerian Agritech startup Thrive Agric partners with USAID to launch US$10m project to support smallholder farmers

NIGERIA – Thrive Agric, the Abuja-based agritech startup, has launched a one-year project that aims to support 50 000 smallholder farmers and will be supported and conducted in collaboration with the USAID-funded West Africa Trade & Investment Hub (Trade Hub). As part of its partnership with the Trade Hub, Thrive Agric has committed to raising at least US$10 million to fund this initiative while Trade Hub will invest US$1.75 million in grant form. The farmers to be supported are the ones that grow rice, maize, and soybean in Nigeria, as…

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Walmart debuts private label beef in US as avocado consumption hits record highs

US – American multinational retail corporation Walmart has debuted a private label beef line called McClaren Farms in stores across the Southeast as it looks to offer customers with responsibly raised, “steakhouse quality” meats. The new beef line is produced in partnership with Bob McClaren of Prime Pursuits, and is currently available in almost 500 stores across Alabama, Florida, Georgia, Mississippi and South Carolina. The line’s products include USDA Choice Angus filet mignon, T-Bone, porterhouse, ribeye, short ribs and chuck roast. McClaren Farms is an outgrowth of the end-to-end beef…

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Pick n Pay partners with Fortress to establish inland distribution site in South Africa

SOUTH AFRICA – South African retail chain, Pick n Pay, has entered into an agreement with real estate investment company, Fortress, to establish one of the massive logistics centres in the country. The project will be undertaken at Fortress’s flagship premium-grade Eastport Logistics Park, close to ORT Airport in Gauteng, to cover 36 hectares of state-of-the art infrastructure. Pieter Boon, CEO of Pick N Pay indicated that the investment in the new inland distribution centre will give the company a competitive advantage. “Fortress’s Eastport facility will help us deliver key…

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South Africa based canned food maker RFG names Pieter Hanekom as new CEO to succeed Bruce Henderson

SOUTH AFRICA – South Africa’s leading producer of fresh, frozen and long-life convenience meal solutions, RFG Group has announced that the company’s long-serving CEO, Bruce Henderson, will be stepping down from the helm of the company in September this year. Henderson who has served as CEO of RFG for 22 years will be succeeded by Pieter Hanekom, the group’s current Deputy CEO. RFG Chairperson Dr Yvonne Muthien said Henderson led the group with distinction, overseeing the expansion from a single brand fruit business into a diversified, multi-brand food producer owning…

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Tree house sells ready-to-eat cereal business to Post Holdings for US$85m

US – TreeHouse Foods, a leading multinational food processing company based in the US, has simultaneously signed a definitive agreement and completed the sale of its ready-to-eat cereal business to Post Holdings for $85 million. The deal encompasses the entire ready-to-eat cereal business which includes two manufacturing facilities, in Lancaster, Ohio and Sparks, Nevada. The facilities are reported to have production capabilities spanning batch and extruded products. The transaction also includes a research and development facility in Sauget, Illinois, as well as inventory valued at approximately US$30 million. “This transaction…

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Tyson Foods promotes COO Donnie King to succeed Dean Banks as President and CEO

US – Tyson Foods, the world’s second largest processor of beef, poultry and pork, has promoted its current chief operations officer Donnie King to the position of President and CEO. Donnie King will succeed Dean Banks who the meat processor said is stepping down from the company and board “for personal reasons”. Banks took the CEO job in October, just as Tyson was rebounding from the coronavirus outbreak that forced the company to shut several plants when workers got sick. Banks was formerly a project lead and on the leadership…

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