Hormel Foods Q3 sales surge driven by a rebounding foodservice sector

USA – American food company Hormel Foods has seen Q3 sales surge mainly driven by a rebounding foodservice business which delivered a 45% rise in sales when compared to the same period last year.   According to the financial results of the Minnesota-based company, sales for the quarter rose sharply to US$2.86 billion from US$2.38 billion the year prior.  The sales surge was attributed to consumer demand across the company’s portfolio as sales rose in all four business units, pricing actions on almost every brand, and several weeks operating the recently acquired Planters business.  “Now more than ever,…

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Uganda’s coffee exports volume rise by 28% in July 2021 earning US$69.93m

UGANDA – Uganda’s coffee exports in July 2021 amounted to 700,035 60-kilo bags worth US$ 69. 93 million. This was an increase of 28.77% and 39.27 % in quantity and value respectively compared to the same month last year, indicates Uganda Coffee Development Authority (UCDA) on the monthly report. The performance also exhibited the country’s continuous monthly growth in export volumes in the current year. In June, Uganda sold 618,388 60-kilo bags worth US$ 58.56 million. The total exported volumes in July, comprised of 660,458 bags of Robusta valued at…

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Pernod Ricard buys minority stake in Sovereign Brands, expresses confidence on sales momentum as US, China lift profits

US – French alcoholic beverage company Pernod Ricard has acquired a minority stake in wine and spirits company Sovereign Brands, starting off a long-term partnership aimed at creating business opportunities between Sovereign Brands and Pernod Ricard in the future.  Sovereign Brands creates new wine and spirits brands and boasts of an impressive portfolio of products including Luc Belaire sparkling wine and Bumbu rums. The company says it builds each of its brands “from the ground up”.  Following Pernod Ricard’s investment, the two groups will continue to operate independently as the agreement does…

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Merger talks between Zimbabwe’s largest dairy processors Dairibord, Dendairy collapse

ZIMBABWE – A multi-million-dollar historic merger between Zimbabwe’s largest and second largest milk processor by market share, Dairibord Holdings Limited and Dendairy, has been kicked to the curb. The planned transaction, according to NewsDay was first announced in July 2020 with DHL seeking to leverage on Dendairy’s strategic investments into production of dairy products and its access to the regional market. According to reports, in 2018, Dendairy started a project to expand operations at its Kwekwe plant, which would have seen the firm adding three new packaging lines to increase…

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Zimbabwe based Organic Africa opens multi-million-dollar herbal tea processing factory

ZIMBABWE – Zimbabwe has welcomed a new herbal tea processing factory constructed by agriculture concern, Organic Africa. The multi-million-dollar facility is aimed to promote value addition which will in turn ensure the players along the value chain get the best returns from the produce. Termed as one of the largest herbal tea factories in Southern Africa by The Herald, the facilities will enable Organic Africa to get a share of the lucrative market segment. The herbal tea market was valued at US$ 3.289 billion in 2020 and is projected to…

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Agthia expands footprint in UAE’s snack market with acquisition of confectionery and healthy food brand BMB Group

UAE – Agthia Group, one of the largest food companies in the United Arab Emirates (UAE), has acquired a 100% stake in Dubai-based confectionery and healthy food brand BMB Group in line with strategy to invest in fast-growing segments of the food and beverage space.   BMB produces and distributes a wide selection of snacks and confectionery including chocolate, Mediterranean sweets and bakery ingredients for its own brand and external partners.  Some of the popular brands under BMB’s portfolio include Asateer, Al Qamar and Freakin’ Healthy. These brands are expected to accelerate the…

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Pizza Hut in Ghana finds new owner, Krispy Kreme Donuts opens inaugural store in Egypt

GHANA – American restaurant chain and international franchise, Pizza Hut, is set to relaunch in Ghana under new ownership. Melcom Group of Companies, a diverse business conglomerate, is set to acquire the franchise rights of the fast-food chain in the country. The acquisition will mark the entry of Melcom Group into the Quick Service Restaurant (QSR) business, expanding its business interest beyond retail, modern trade, plastic manufacturing, electronics assembly and travel. According to reports by Ghana News Agency, the pizza maker would be operated by one of the group’s subsidiaries,…

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Saputo bolsters presence in US with acquisition of two North Carolina food businesses for US$118m

US – Saputo, a leading Canadian dairy company, has strengthened its business in the United States with a US$118m acquisition of Carolina Aseptic and Carolina Dairy facilities.  Carolina Aseptic develops, manufactures, packages and distributes aseptic shelf-stable food products and beverages out of a purpose-built facility in Troy, North Carolina, in the US. Nearby, Carolina Dairy manufactures, packages and distributes refrigerated yogurt in spouted pouches in Biscoe, North Carolina.  According to the Montreal-based firm, the two facilities will join Saputo’s US dairy division bringing with them at least 230 employees.  The acquisition will better position Saputo for capturing…

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DSM to acquire dairy-based savory flavorings supplier First Choice Ingredients for US$453m

USA – Royal DSM is acquiring US based supplier of dairy-based savory flavorings, First Choice Ingredients, to expand its presence in the food and beverage sector.  According to a statement from DSM, the acquisition of First Choice is being made for an enterprise value of US$453 million.   “This acquisition is an attractive next step for DSM as we continue to build our health, nutrition, and biosciences capabilities,” commented Geraldine Matchett and Dimitri de Vreeze, co-CEOs of Royal DSM.  First Choice Ingredients has three manufacturing facilities in the US which are run by…

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