IFF doubles down on portfolio optimization strategy with deal to sell microbial control unit to Lanxess for US$1.3 billion

USA – International Flavors & Fragrances (IFF) has signed a deal to sell its microbial control unit to German specialty chemicals maker Lanxess as part of the company’s portfolio optimization strategy.  According to a statement from the companies, the deal is valued at US$1.3 billion and is expected to close in the second quarter of 2022.  IFF, which produces flavors, fragrances, and cosmetic actives, said the cash proceeds from the deal will be primarily used to reduce outstanding debt.  Reuters reported last month that IFF had short-listed Lanxess and private equity-owned LSI…

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Tyson Foods to invest US$300m in new prepared foods facility to meet growing demand

US – American multinational corporation Tyson Foods has announced that it will invest US$300 million to construct a new prepared foods facility in Danville, Virginia.   According to a statement from the company, the project aims to accelerate brand growth and is part of the Tyson Food’s commitment to meet the increasing demand for its products.   “As consumers actively look to add more protein to their diets, Tyson is uniquely positioned as a category leader to meet that growing demand,” said Noelle O’Mara, president, Prepared Foods at Tyson.   “Our continued focus on…

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Milky Mist to expand dairy processing capacity to meet “ever-growing” demand

INDIA – Milky Mist Dairy Food, one of India’s leading manufacturers of dairy products, has announced plans to expand its state-of-the-art unit 2 processing facility at Chittode in India’s state of Tamilnadu.  In a LinkedIn post, Milky Mist Dairy Founder and Managing Director Sathish Kumar revealed that the new unit with a built-up area of 400,000 square feet will be built on 15 acres of land adjacent to the company’s existing factory.  Milky Mist’s expansion is timely as India’s organized dairy sector is projected to post a 5-6% growth in sectoral revenue generation in 2021-22, mainly driven…

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