Zambia’s leading grains, snacks processor Seba Foods clinches US$4m financing to boost production

ZAMBIA – Seba Foods Zambia Limited, subsidiary of Zambia-based Two Six Zero Brands Africa has received a US$4m senior loan facility from AATIF to enable it maximize output from its recently installed processing plant. Seba Foods which undertakes processing and distribution of a wide range of products made from maize and soybeans, will utilize the finance to purchase raw materials from local smallholder farmers in the country. The company’s product range include textured soy as a meat alternative, powdered/instant drinks, corn soya blend (porridge), as well as snacks – a…

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Huhtamaki to expand presence in flexible packaging market with US$483m acquisition of Elif

TURKEY – Finnish food packaging specialist Huhtamaki is set to expand its position in the flexible packaging market with a US$483 million acquisition of Turkish-based producer Elif.   According to Huhtamaki, Elif specialises in sustainable flexible packaging and uses both post-industrial and post-consumer recycled polymers as raw materials.  Huhtamaki says that more than 90% of Elif’s current product portfolio is recyclable and that the range also includes compostable films.  The company supplies its packaging solutions to customers across Europe, the Middle East, and Africa, serving markets including food, beverage, and dairy, as well…

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Carlsberg’s raises full year guidance emboldened by strong recovery in beer volumes

DENMARK – Danish multinational brewing company Carlsberg has raised its full-year earnings guidance after reporting a “strong set of results” for the first half of the year.   The maker of Carlsberg and Tuborg brands registered 17.7% sales growth – on a reported basis – in Q2, while sales grew by 9.9% to DKK 31.69 billion (US$4.99 billion approx.) in the first half of the year.  Volume growth during the first six months reached 11.9% mainly driven by recovery in Asia where volumes grew 19.7% albeit from a low benchmark.  Meanwhile, the company’s Central…

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Olam, IITA, E4D partner to support 5,000 Uganda coffee farmers improve their livelihoods

UGANDA – Olam Food Ingredients has partnered with the International Institute of Tropical Agriculture (IITA) and the GIZ Employment and Skills for Development in Africa (E4D) program to improve the livelihoods of 5,000 coffee farmers in the Mount Elgon region of the country. The project which is set to run for the next two and a half years aims to improve farmers’ livelihoods by enabling them to optimize their investment in coffee, earn more from other on-farm activities, and thus reduce the living income gap by 20 percent. This will…

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Aryzta continues business simplication with sales of Brazil Unit as Harlan Bakeries acquires AmeriQual

BRAZIL – Switzerland-based international baking company Aryzta has agreed to divest its Brazil businesses to Grupo Bimbo in its latest move to simplify its operations.  “The successful sale of the Brazil businesses is a further positive step in the delivery of our strategy to rebuild Aryzta’s leadership in bakery in Europe and Asia,” said Aryzta chairman Urs Jordi, who has also been serving as the company’s interim CEO since the end of last year.    “Aryzta’s disposal programme since September has exceeded expectations in all regards and accelerates the group’s journey to financial stability.”  As part of…

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Burger King South Africa sale back on the table following agreement with Competition Commission

SOUTH AFRICA – Grand Parade Investments (GPI), the master franchise holder for Burger King in South Africa can now breathe a sigh of relief after the Competition Commission has agreed to the revised terms of the take over. Since beginning of last year, GPI has insistently pursued the sale of the US fast-food chain and Grand Foods Meat Plant (GFMP), which primarily supplies Burger King with patties, to a fund owned by Emerging Capital Partners (ECP), in line with its strategy to become a pure investment company. As part of…

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Apeel raises US$250m investment to accelerate innovation in fresh produce preservation

US – California-based fresh produce preservation company Apeel has raised US$250 million in Series E funding led by existing investor Temasek and participated in by other investors including Katy Perry, Andreessen Horowitz and Mirae Asset Global Investments.  According to a report by Food Dive, the latest funding round brings the company’s total funding to more than US$635 million and a valuation of over US$2 billion.   Apeel will use the funding to increase the availability of products using the company’s invisible, edible “skin” that extends shelf life, the company said in a…

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Tolaram enters alternative protein category with investment in faux chicken producer Shandi

SINGAPORE – Singapore-based food processing giant Tolaram has made its first foray into the lucrative alternative protein market by leading a US$700,000 second-seed funding round for food-tech startup Shandi.   According to a report by Business Times, Shandi will use the new investment to set up a manufacturing facility in Singapore to commercialise and scale the start-up’s proprietary plant-based chicken products  The investment will also help the Singapore-based startup to further product innovation and development on new textures, formats, and other meat analogues.  Founded in 2019, Shandi aims to launch its range of…

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Shoprite to open Africa’s first tech enabled self-service store fostering precision retailing

SOUTH AFRICA – Shoprite, Africa’s largest retailer and a trendsetter in the sector is testing the first of its kind cashier-less store in the region dubbed Checkers Rush. The automated, cashless “no queues, no checkout, no waiting” concept store is under trial by its employees within the company offices in Cape Town, above the new Checkers Hyper Brackenfell flagship store. Using advanced AI camera technology to identify the products being taken off the shelves, Checkers Rush bills users’ bank cards upon exit.  In pursuit to bring a solution to the…

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Zambia sources for alternative corn markets following bumper harvest registered in the country, neighbouring nations

ZAMBIA – Zambia’s production of its single most important crop, corn, is set to reach an all-time high record in the Marketing Year (MY) 2021/22 reaching 3.6 million tons. The bumper harvest follows its production of 3.4 million tons in 2020/21 and 2 million tons in 2019/20. The steady rise in production is attributed to increase area put under production and productivity courtesy of availability and adoption of improved production technologies like higher-potential hybrid seeds and fertilizer. However, the cultivation of genetically engineered corn is still prohibited in the country.…

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