EBRD, EU support help Serbian packaging producer Comex upgrades equipment to meet highest global standards

SERBIA – Comex, a Serbian company specialising in the production of flexible food and non-food packaging and wrapping materials, is the latest beneficiary of an EBRD and European Union (EU)-supported programme that helps small and medium-sized enterprises (SMEs) access credit lines.   Through the program, Comex invested in a new printing machine, financed with a €1 million (US$1.19 million) loan from Banca Intesa. In addition to the loan, the company also received a €150,000 grant, funded by the EU.  According to EBRD, the grant which is 15% of the loan secured by businesses through its programme was aimed at significantly…

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Tanzanian agriculture firm FFF seeks to boost maize, macadamia production with US$1.1m investment

TANZANIA – Farm For the Future (FFF), a Tanzanian agricultural firm has revealed plans of investing US$1.1 million in the construction of a dam and setting up irrigation systems. The facilities will be utilized to provide water for its 250-hectare farm put under maize and macadamia nuts production. According to reports by Citizen Tanzania, the environmental impact assessment on the project is under way and construction of the dam is set to commence in August 2021. The irrigation systems will be installed in 2022 to pave the way for planting…

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Richardson diversifies into durum processing with acquisition of US miller Italgrani

US – Richardson International Limited, Canada’s largest agribusiness and a global leader in agriculture and food processing, is diversifying into wheat processing through the acquisition of Italgrani USA Inc., the single largest durum miller in North America.  According to a statement from Richardson, the acquisition is part of its long-term strategic goals of diversification, geographic expansion, and an increased presence in food processing.   The deal includes a milling facility in St. Louis, Missouri, specializing in semolina and durum flour products,  storage and crop inputs facilities situated at Tolley, Powers Lake, and Benedict in North Dakota, and a commodity trading office in Minneapolis,…

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Tate & Lyle sells controlling stake in primary products business to KPS Capital Partners for US$1.7B

US – Tate & Lyle PLC, a leading global provider of food and beverage ingredients and solutions, has entered is selling a controlling stake its Primary Products business in North America and Latin America to KPS Capital Partners.  The Primary Products Business is a leading provider of nutritive sweeteners, industrial starches, acidulants, and other corn-derived products in North America and Brazil.  The Company produces corn-derived products for a diverse set of end-uses including carbonated beverages, confectionary products, packaging applications, and animal feed, among others.   With approximately 1,700 employees across six manufacturing facilities in the United States and Brazil, the Primary Products Business generates annual revenue of approximately US$2.3…

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South Sudan partners with IFAD to boost productivity, food security and resilience of small-scale farmers

SUDAN – The International Fund for Agricultural Development (IFAD) in collaboration with the government of Sudan, have launched the South Sudan Livelihoods Resilience Project (SSLRP), aimed to empower rural people to boost productivity, food security and nutrition, and resilience. The new US$19.9 million project will bring the much-needed help to 38,800 rural households facing the impacts of poverty, food insecurity and climate change in South Sudan. At a time when the COVID-19 crisis and climate change could further push the 85 per cent of South Sudanese who live in rural…

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Carrefour Kenya plans to enter lakeside market with a bang, set for twin openings

KENYA – Carrefour Kenya, operated by Dubai-based conglomerate Majid Al Futtaim, is set to open two branches in Kenya’s third largest city, Kisumu, in pursuit to get a piece of the lakeside’s growing middle-class shoppers. The two stores will be located at United Mall and Market MEGA, adopting the hypermarket and supermarket models respectively. They are set to open doors in July and August, offering customers an assortment of fast-moving consumer goods (FMCG) at affordable prices, reports Star News. “Kisumu is the third city we are investing in after Nairobi…

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Cargill backs Ghanaian AgriTech Challeng, Egypt’s agri-tech startup Baramoda wins social impact program

GHANA – Ghanaian impactor investor Kosmos Innovation Center (KIC) has announced OASAL Group and Fruitflour teams as the winners of the 2020 KIC AgriTech Challenge in Accra. Oasal Group is a start-up focused on converting agricultural waste into innovative products, while, Fruitflour is an agri-processing startup producing baby food from fruits and vegetables. The winners received US$50,000 each in seed funding and up to four years of business training, mentorship, and incubation at the Kosmos Innovation Center Hub located in Dzorwulu. The AgriTech Challenge is an acceleration programme aimed at…

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Altria to sell wine business for US$1.2B in renewed focus on tobacco

US – Altria Group, Inc., a leading producer of tobacco products, has announced that its subsidiary, UST LLC, has entered into a definitive agreement to sell its Ste. Michelle Wine Estates (Ste. Michelle) business to Sycamore Partners Management, L.P.  Ste. Michelle produces and markets premium wines sold under various labels, including Chateau Ste. Michelle, 14 Hands and Stag’s Leap Wine Cellars™, and imports and markets Antinori and Champagne Nicolas Feuillatte™ products in the United States.  Its new owner, Sycamore Partners Management, L.P., is a private equity firm specializing in consumer, retail, and distribution investments (Sycamore Partners).  According to…

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Shane Smith to succeed Dennis Organ as Smithfield Foods President and Chief Executive Officer

US – Smithfield Foods, Inc., an American food company with agricultural roots and a global reach, has appointed Shane Smith to succeed Dennis Organ as president and chief executive officer.   Smith, a two-decade veteran of the company and, most recently, its chief strategy officer, will take over the role immediately, according to a statement from the company.  Prior to becoming chief strategy officer, Mr. Smith served as executive vice president of Smithfield’s European operations where he oversaw the company’s operations, capital investments, expansion into new markets, and mergers and acquisitions abroad.   Today, Smithfield’s European operations encompass nearly 18,000 employees, 21 processing facilities, 58…

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WayCool Foods to invest US$20m in expansion into Western India and Middle East

INDIA – Tech-powered food and supply chain enterprise WayCool Foods is investing close to US$20 million for its expansion plans this year which includes a foray into Western India (Maharashtra) and the Middle East.  The US$20 million is part of an ambitious expansion that includes plans to invest US$75-$100 million over the next four years to cement WayCool Food’s growth as an automation-powered supply chain entity.  Commenting on the company’s expansion plans, co-founder and CEO Karthik Jayaraman said: “Our capex plans [for the next 2-3 years] include building five large warehouses, setting up repacking facilities, and ramping up…

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