Apollo to buy 67% stake in Italian packaging firm Reno De Medici for US$430m

ITALY –  Apollo Global Management, a US-based investment fund, has agreed to acquire a 67% ownership stake in Reno De Medici (RDM) from its two principal shareholders, Cascades and Caisse de dépot et placement du Québec.   Apollo which made the acquisition for about US$430 million plans to launch a mandatory tender offer for the remaining shares, with the aim of delisting RDM.  RDM produces and distributes cardboard made from recycled fibers, which is mainly used for packaging and folding cartons in all product sectors including food.  The company recently purchased mills in Spain and entered into an agreement…

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Indian animal protein startup Licious raises US$192m to fund future growth plans

INDIA – Licious, a direct-to-consumer fresh meat and seafood brand, has raised US$192 million in a Series F funding round led by Singapore-based investment firm Temasek and PE firm Multiples.   Brunei Investment Agency also invested in the round, which saw participation from existing investors including 3one4 Capital, Bertelsmann India Investments, Vertex Growth Fund, and Vertex Ventures Southeast Asia and India.  Founded in 2015, Lucious operates five processing centers more than 90 delivery centers across all 14 Indian cities where it currently has a presence.  The company owns and operates the entire back-end supply chain, and controls a stringent cold chain to maintain the quality and freshness of its…

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UK issues stringent regulations for junk food marketing to curb rise of unhealthy eating habits

UK – The government of the United Kingdom has banned late-night advertising of junk food in an effort to promote a healthy society.  The law is the latest attempt by the UK government to tame unhealthy eating habits that are causing its citizens to suffer from lifestyle diseases such as obesity and diabetes.  Obesity is a common problem that affects around 1 in every 4 adults and around 1 in every 5 children aged 10 to 11 in the UK, according to the UK National Health Service.  According to a report by the Guardian, a “growing obesity crisis” has…

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Kenya to develop US$5.5m embryo transfer facility to improve local cow breeds, heighten milk production

KENYA – The government of Kenya is seeking to establish a KSH 600 million (US$5.5m) embryo transfer facility in Eldoret, as part of its plan to transform the dairy sector. The project, spearheaded by the Kenya Animal Genetic Resource Centre (KAGRIC), will enable farmers get superior breeds with a potential to produce over 70 litres per day. This will not only meet the local demand of the product, but also enable Kenya to venture into the export market, reports Business Daily. “Most farmers have large herd but produce little milk…

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IITA to establish fifth Alflasafe production facility in Mozambique, heightening fight against aflatoxin contamination

MOZAMBIQUE – The International Institute of Tropical Agriculture (IITA), has signed a Technology Transfer and Licensing Agreement (TTLA) with Mozambique’s AflaLivre Moçambique S.A., to manufacture and distribute Aflasafe in the country. Aflasafe, is a natural product used to reduce aflatoxin contamination in human food and animal feed. The technology was developed by IITA in collaboration with the United States Agency for International Development (USAID), United States Department of Agriculture (USDA), Bill and Melinda Gates Foundation, and different National research organizations. As part of the new partnership, an Aflasafe factory will…

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Nigerian cocoa-exporting company ADT Russet gets US$2.8m financing to drive market access

NIGERIA – The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), has provided ADT Russet Limited, a cocoa bean sourcing and exporting company, with 50% credit risk guarantee on a working capital facility worth N1.15bn (US$2.8m). Apart from the absorption of a substantial part of its risk exposure in the event of loan delinquency, NIRSAL is also providing efficient monitoring of the project aimed at boosting ADT Russet’s export volume to 4,000 metric tonnes per annum. The move is aimed to create a stronger market for cocoa export stakeholders…

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India’s advertising watchdog partners food safety authority to fight misleading claims in foods & beverages ads

INDIA –  The Advertising Standards Council of India (ASCI) and the Food Safety and Standards Authority of India (FSSAI) have partnered to bolster the fight against misleading claims in food and beverage (F&B) ads.   Advertising is seen as misleading if it involves false, misleading, or deceptive information that is likely to cause the average consumer to act in a way they might otherwise not.    Ads may also be considered misleading if important information that the average consumer needs to make an informed decision is left out.    Misleading advertising covers claims made directly to consumers by manufacturers, distributors, and…

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Post Holdings makes new executive appointments as Tyra Banks unveils new ice cream brand

US – American consumer packaged goods company, Post Holdings, has made two executive appointments to drive better collaboration, cost reduction and revenue opportunities across the company’s portfolio.  Howard A. Friedman, currently President and CEO of Post-Consumer Brands, has been appointed Executive Vice President and Chief Operations Officer for Post Holdings.  Friedman will serve on Post’s executive management team, reporting to Post’s President and Chief Executive Officer, Robert V. Vitale.   Post said in a statement that Mr. Friedman will work with each of Post’s businesses to among other things manage long-tail projects and support each business…

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Coca-Cola to open new tech center in South Africa, expanding its global digital network

SOUTH AFRICA – The coronavirus pandemic has triggered seismic shifts in shopping behaviour, challenging The Coca-Cola Company to reinvent its approach towards brand launches, marketing campaigns, establishment of routes to market, and revenue growth management strategies. To this end, the soft beverage major, is driving digital transformation through its consistent messaging and movement into a more agile and growth-minded work environment. Furthering its pursuit to become nimbler and more responsive to the market, Coca-Cola is seeking to open a new digital delivery center in Johannesburg. This hub will be Coca-Cola’s…

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RFG eyes bigger share of frozen foods market in SA with acquisition of Pioneer Foods’ business

SOUTH AFRICA – RFG Holding, South Africa-based producer of fresh, frozen and long-life convenience meal solutions, has entered into an agreement with Pioneer Foods Wellingtons, to purchase its frozen foods business as a going concern, save for any operations in Botswana and Eswatini. According to the leading manufacturer of canned fruit, jams and canned meat, the business in question comprises of a wide product range to include: frozen pies, pastry, sausage rolls, pizza and party packs, under the well-established brands such as, Today, Mama’s, Big Jack and Man’s Meal. Manufacturing…

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