Food Business Africa

Heineken purchases 39.6m shares of United Breweries to bolster position as majority owner

Jun 23, 2021Jun 23, 2021 Editor

INDIA- Heineken International B.V., the world’s second-largest brewing company, has acquired an additional 39.6 million shares of United Breweries, a leading alcoholic beverage company in India. With the acquisition, Heineken’s shareholding in United Breweries (UB) has increased to 61.50% from 46.50%, increasing the company’s influence on its India’s subsidiary and cementing its position as majority owner. The acquisition is a major win for Heineken as UB has undisputed market leadership with a national market share in excess of 50%. The UB Group today controls 60% of the total manufacturing capacity…

Seed Co International, Seed Co Limited merger denied, SCL bounces back to ZSE

Jun 21, 2021Jun 21, 2021 Editor

ZIMBABWE – SeedCo International Limited (SCIL), has abandoned plans of acquiring its Zimbabwean subsidiary, Seed-Co Limited (SCL), after failing to get all the regulatory approvals. According to the reginal seed producer, shareholders of both SCIL and SCL had approved the transaction earlier in March, but the External Loans and Exchange Control Review Committee turned down the proposal that same month. “Approval for the transaction was declined by the External Loans and Exchange Control Review Committee on 26 March 2021. An appeal against the decision was made on 7 April 2021…

Cargill, WFP partner to promote sustainable corn growing practices in China

Jun 21, 2021Jun 21, 2021 Editor

CHINA — Agricultural commodities trading giant Cargill and the United Nations World Food Program (WFP) have partnered to promote sustainable corn growing practices in China. To achieve their goal, Cargill and the WFP have launched a Holistic Agriculture Risk Management Project which will train farmers on how to reduce and alleviate the risks associated with corn farming. Farmers will be taught on how to implement the application of innovative financial risk transfer approach of “insurance + futures”. They will also be exposed to sustainable corn growing practices in an effort to increase their productivity…

Kerry to acquire perseveration technology company Niacet for US$1.01B

Jun 21, 2021Jun 21, 2021 Editor

NETHERLANDS – Kerry, an Irish-based global taste and nutrition company, has signed an agreement to acquire preservation technology company Niacet in a deal estimated to be worth US$1.014 billion (€853 million). Niacet specializes in food preservation and has exclusive drying and granulation process technologies in its key market categories of Bakery, Meat and Pharma. It also has cost-effective low-sodium preservation systems for both meat and plant-based food across conventional and clean label solutions. According to a statement from Kerry, the acquisition will bolster its efforts to strengthen its own technologies for food protection and preservation. …

Oterra eyes natural color businesses of flavour and fragrance giant Symrise

Jun 18, 2021Jun 18, 2021 Editor

GERMANY —Oterra, formerly known as Chr. Hansen Natural Colors A/S is eyeing the natural food coloring business of German flavour and fragrance company Symrise in an effort to bolster its position in the food ingredients space. According to a statement from Symrise AG, Oterra’s offer includes approximately 80 employees of Diana Food in two production facilities located in France and the United Kingdom. “Symrise welcomes the offer from Oterra,” said Jean-Yves Parisot, PhD, president of Flavor & Nutrition at Symrise. The two production sites that would be affected by a…

Constellation Brands eyes a share of rapidly growing mezcal drinks market with investment in ‘Dos Hombres’

Jun 18, 2021Jun 18, 2021 Editor

US – Leading international producer and marketer of beer, wine, and spirits Constellation Brands has invested in Dos Hombres’, an artisanal and hand-crafted mezcal brand owned by created by Breaking Bad co-stars Aaron Paul and Bryan Cranston. The investment was made through Constellation’s venture capital group gives the US beer company a minority share in the company and a footing in the fast-growing mezcal beverage market. Mezcal is a distilled alcoholic beverage made from any type of agave. The Mexican alcoholic drink can reach an alcohol content of 55% and…

Kerry Group sells US$952m meats and meals business to Pilgrims Pride

Jun 18, 2021Jun 18, 2021 Editor

IRELAND – Kerry Group, an Irish food company, has sold its Kerry Consumer Foods’ Meats and Meals business valued at US$952 million to American multi-national food company Pilgrims Pride. Kerry Meats is a leading manufacturer of branded and private label meats, meat snacks and food-to-go products in the United Kingdom and Ireland. Its sister, Kerry Meals is a leader in the ethnic chilled and frozen ready meals business in the United Kingdom. The combined businesses produced over £725 million (US$864 million) in annual sales during the year ended December 31,…

Smart irrigation company SupPlant raises US$10m to grow presence in South Africa

Jun 18, 2021Jun 18, 2021 Editor

SOUTH AFRICA – Precision agriculture company SupPlant has raised US$10 million to widen the reach of its smart irrigation technology in the South African market. The company partnered with private equity firm Boresight Capital, social impact fund Menomadin Foundation, Israel-listed Smart-Agro Fund and Israel-headquartered investment company Mivtah Shamir, on the company’s latest fundraising round, bringing its total funding to US$19 million. SupPlant considers the South African market to have great potential, since farmers are dealing increasingly with unpredictable weather patterns, as a result of climate change. The SupPlant technology saves…

Danone offloads US plant-based nutritional products brand Vega as part of portfolio review

Jun 18, 2021Jun 18, 2021 Editor

FRANCE -French dairy giant, Danone is selling Vega, Canada, and U.S. plant-based nutritional products brand, as part of a strategic portfolio review announced in October last year. According to a statement from Danone, Vega will be sold to funds managed by WM Partners, a US-based private equity investment firm focused on the health and wellness industry. WM Partners said the acquisition was made through the HPH II Investments Master Fund. Over the last two years, the HPH II fund has acquired hydration brand Ultima Replenisher, collagen business Great Lakes and…

AppHarvest secures US$75m investment from Rabobank as AAK signs US$476m sustainability linked credit facility

Jun 17, 2021Jun 17, 2021 Editor

US – AppHarvest, a leading AgTech specializing in the development of high-tech indoor farms, has secured US$75 million from Rabo AgriFinance, a subsidiary of Rabobank. According to a statement from the Kentucky based company, the funds will be used to fuel expansion of its rapidly growing network of high-tech controlled environment agriculture (CEA) facilities in Central Appalachia. AppHarvest builds some of the world’s largest high-tech indoor farms that grow non-GMO, chemical pesticide-free produce. The company says its farms use up to 90% less water than open-field agriculture and only recycled rainwater while producing yields up to 30 times that…