Category: Mergers, Acquisitions & Funding

East Africa poultry company Uzima Chicken receives US$3m follow-on debt from AgDevCo

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RWANDA – AgDevCo, UK based social impact investor with a focus on Africa’s agricultural sector has made a US$3.0 million follow-on mezzanine debt investment into Uzima Chicken Limited, a poultry company operating in Rwanda and Uganda. The East African poultry farm produces and distributes Sasso breed chickens with the aim to create value for rural households by providing better quality meat and eggs for consumption and sale. Uzima provides day-old chicks through a network of hundreds of small, independent distributors who rear the birds to six to eight weeks before…

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Angolan state bags US$82m from privatization of government owned breweries, agro-livestock farms

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ANGOLA – The government of Angola has raised a total of Akz 52 billion (US$82.7m) from the privatization of 3 state-owned breweries and 5 agro-livestock enterprises, under the Privatization Program (PROPRIV), coordinated by the Institute of Assets Management and State Participation (IGAPE). IGAPE was created to manage the state’s financial assets and holdings, and carry out the privatisation and restructuring programme of the corporate public sector, according to a presidential order. The PROPRIV program is aligned with the National Development Program 2018-2022 and falls within the scope of Public Finance…

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French dairy company Sodiaal sells German cheese business to Meggle, Fonterra completes sale of two China farms

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GERMANY – French dairy company Sodiaal has sold German cheese company Stegmann Emmentaler Käsereien GmbH to Meggle Group GmbH. The acquisition comes just a month after the French dairy company bought a 51% controlling interest in Yoplait S.A.S. from General Mills In exchange for the 51% stake it gave to Sodiaal, General Mills got a full ownership of the Canadian Yoplait business and a reduced royalty rate for use of the Yoplait and Liberté brands in the US and Canada. In a statement, Meggle said the acquisition of Stegmann sustainably…

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Stonewall Kitchen buys Vermont Coffee Company as Campbell offloads baby food brand Plum Organics

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US – Stonewall Kitchen, an American specialty food producer, has acquired organic coffee brand Vermont Coffee for an undisclosed sum. FoodBev reported that the deal marks Stonewall Kitchen’s sixth acquisition. Vermont Coffee will now join other brands such as Urban Accents and Vermont Village. With a 40,000-square-foot facility in Middlebury, Vermont Coffee is the best-selling brand of bagged organic coffee in grocery stores across the northeast, according to Stonewall Kitchen. The company offers more than 25 blends, with whole bean and pre-ground options available. Commenting on the acquisition, Vermont’s Founder…

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Aryzta sells Switzerland sandwich assets as Dawn Foods snaps up Polish food ingredients supplier Jabex

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EUROPE – Cash-strapped specialty food company, Aryzta has announced the sale of its sandwich production business in Switzerland to Bell Food Group subsidiary, Hilcona for an undisclosed sum. The sale comes one month after the Zurich-based food company signed an agreement to sell its North American business to an affiliate of US private equity firm Lindsay Goldberg for US$850 million, as part of its efforts to reduce debt. As part of the deal, Hilcona will acquire Aryzta’s production premises located in Schlieren and will take on around 25 employees. Aryzta…

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Ingredion acquires German food solutions provider KaTech, complementing its specialty ingredients portfolio

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GERMANY – American multinational ingredient provider, Ingredion has acquired KaTech, a German provider of advanced texture and stabilization solutions, effectively expanding its specialty ingredients portfolio. The acquisition comes five months after Ingredion agreed to acquire the remaining stake in Verdient Foods, taking its ownership of the plant-based protein joint venture to 100%. KaTech offers a variety of solutions that assist food and beverage manufacturers with product formulation, ingredient functionality and technical assistance. The firm is said to have application expertise in areas such as stabilisation, texture enhancement, protein enrichment and…

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Olam secures US$1.45Bn financing facility to bolster its sustainability sourcing platform

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SINGAPORE –  Leading global food and agri-business company,  Olam International Limited has secured a US$1.45 billion facility to help fund activities carried out over its AtSource sustainability insights platform. According to Olam, AtSource is  a “sustainability insights platform” which gives customers a view of their supply chain sustainability parameters. The agribusiness company further notes that the platform also provides insights into how the its customers can effect positive change within the ecosystem and create value for all.  Roel Van Poppel, CEO of AtSource, explains that the sustainability platfrom was created…

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Nestlé unveils coffee-flavored S.Pellegrino Essenza line, completes sale of North America water business

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US – World’s number one food manufacturing company, Nestlé is adding a coffee-inspired line to its S.Pellegrino Essenza portfolio of flavored sparkling mineral waters. The company revealed that the new gently caffeinated S.Pellegrino Essenza products are available in three flavour combinations namely vanilla & coffee, cocoa & coffee and caramel & coffee. Bottled at source in Italy and scheduled to launch in US, the new zero-calorie line is free from sweeteners and contains 30mg of caffeine, which is said to be around one third of the amount in an average…

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DSM acquires Amyris’ flavour and fragrance business to bolster nutritional ingredients portfolio

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NETHERLANDS – Global Biosciences Company, DSM is poised to expand its nutritional ingredients portfolio following an agreement with Amyris to acquire its flavor and fragrance (F&F) bio-based intermediates business for an upfront consideration of US$150 million. According to statement from the company, the deal will add seven intermediate products to its existing personal care and aroma ingredient activities. Of the new intermediate products being added, four already generate meaningful sales and (Earnings Before Interest, Taxes, Depreciation, and Amortization) EBITDA. Two of the products have just launched and another one is…

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Senegalese food-tech startup LADC, Nigerian digital food cooperative Pricepally get funding

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WEST AFRICA – Senegalese food-tech startup Les Ateliers de Corinne (LADC), has secured an undisclosed amount of funding from WIC Capital, as Nigerian group-buying platform Pricepally undertakes pre-seed funding round. Launched in 2014 by Corinne Erambert, LADC specializes in digital culinary marketing, organization of cooking workshops and cake design. The investment will enable the Dakar based company to scale up by financing the acquisition of professional equipment, the recruitment of a professional team and the installation into new premises. “I am delighted with this partnership which reinforces the image and…

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