Day: November 10, 2021

Lessaffre establishes new baking center in Dubai to support bakery innovation in the Middle East

Editor

UAE – French yeast manufacturer Lesaffre has established a new baking center in Dubai to drive baking innovation in the United Arab Emirates (UAE) and the greater Gulf Cooperation Council (GCC) region.  Located at Dubai’s Silicon Oasis, Lesaffre’s latest baking center expands Lesaffre’s global footprint and enhances the company’s ability to develop locally tailored solutions for its customers in the region.  “Bread is consumed differently according to countries. Local experts can respond to local requirements and share their knowledge,” says Jose Juan Berruga, president of Middle East and Central Asia Lesaffre Baking…

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Out of necessity Burton and Bamber invents delectable treats from locally sourced fresh produce

Editor

The realization that more than 50% of Kenya’s local fresh produce do not reach the market due to post-harvest handling led Jonathan and Ofelia to co-partner in the founding of Burton and Bamber, a food processing company in Kenya that creates dried fruit treats for markets as far as the Philippines.

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Plant-based food’s future growth to be driven by price and choice, reveals Innova Market Insights

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EUROPE — Price and choice have been identified as the two key factors that will drive future growth of the incredibly popular plant-based food market, according to a new Europe-wide consumer research from Innova Market Insights.  As part of the EU-funded Smart Protein project, Innova Market Insights surveyed thousands of consumers across 10 countries to uncover their up-to-date views on plant-based products.   Almost half of all respondents said they had already reduced their meat consumption significantly, with just under 40% saying they were planning to do so in the near future.  …

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Opportunities For Equipment Financing In Food Manufacturing

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Starting a manufacturing business, especially one in the food sector, can be intimidating because of the associated costs. This however doesn’t have to be the case. With the right financial solutions, manufacturers can acquire new equipment, modernize their operations, or retool their factory while preserving liquidity to run daily operations.

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RCL Foods registers strong earnings growth despite chicken division lagging behind

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SOUTH AFRICA – South African food processor RCL Foods, has reported a 14% rise in full year revenue for the year ended June 2021 to R31.7 billion (US$2.21 billion). More notable is that the group almost posted an eight-fold increase in headline earnings by 736% to R958.1 million (US$66.94m), from a loss last year after write-downs of around R1.5 billion (US$104m) due to the Covid-19 financial fallout. Earnings before depreciation, amortisation and impairment (Ebitda) was up 47.3 percent to R2.51 billion (US$175m) and headline earnings per share jumped 723.7% to…

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Egyptian 20-minute grocery delivery startup Rabbit closes record high US$11m pre-seed funding round

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NORTH AFRICA – RabbitMart, an Egyptian inventory-led on-demand delivery venture that also goes as Rabbit, has raised US$11 million in pre-seed funding. San Francisco-based Global Founders Capital, Raed Ventures, Foundation Venture, MSA Capital and Goodwater Capital participated in this pre-seed round, a new record for its stage in Africa and the Middle East, reports TechCrunch. Promising groceries and more in under 20 minutes, Rabbit is set to transform the future of retail. Running on tech-enabled hyper-local fulfillment centers, the company is able to give consumers peace of mind, knowing what…

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Barry Callebaut trade volumes return to pre-pandemic levels as former CEO makes a comeback

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SWITZERLAND – Swiss chocolate maker, Barry Callebaut has seen trade volumes return back to pre-pandemic levels thanks to pandemic-weary customers returning to cafes and bakeries for chocolate cakes.  In its financial overview of fiscal year 2020/21 (ended August 31), Barry Callebaut Group saw volumes grow 4.6%, to over 2 million metric tons with the Gourmet and Specialities segments having a positive impact on the mix.   Volume growth was supported by all of the company’s regional businesses with the Asia Pacific delivering an 8.7% growth, the Americas expanding by 7.9%, and…

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Molson Coors appoints Sergey Yeskov to succeed Simon Cox as Europe President and CEO

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EUROPE -Molson Coors Beverage Company has announced the appointment of Sergey Yeskov as President and CEO of its European operations, effective January 1, 2022.  Yeskov, the company’s current managing director of Central and Eastern Europe (CEE), will succeed Simon Cox, who is retiring from the role at the end of the year.  A native of Ukraine, Yeskov has held senior leadership positions for Molson Coors throughout the world including role as president and CEO of Molson Coors International where oversaw operations in India, Africa, Latin America, Japan and many more markets throughout the world.   He has…

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Dennis Rodenbaugh to succeed Richard Smith as Dairy Farmers of America CEO

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USA – U.S. national milk marketing cooperative, Dairy Farmers of America (DFA) has announced the appointment of Dennis Rodenbaugh as its next president and CEO.  Rodenbaugh will succeed current president and CEO Richard (Rick) Smith who is set to retire towards the end of next year after more than 15 years at the helm.  “Rick is an iconic and dynamic leader who has been instrumental in transforming DFA’s culture and business, and we will be forever grateful to him for his tremendous leadership and are proud of where we are today,”…

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