East Africa eyes Southeast Asia’s meat market through Hong Kong

ETHIOPIA - East African countries have declared an interest in entering the Southeast Asia’s meat and live animals market via Hong Kong under the Intergovernmental Authority on Development (IGAD). In a statement, IGAD said penetrating the market through Hong could possibly eliminate the challenges its member countries are facing while exporting their products to MENA…

Firmenich partners with Nelixia to expand natural ingredients reach in Central America

SWITZERLAND - Firmenich SA, the Swiss fragrance and flavors company has entered into a strategic partnership with Nelixia, the Guatemala based producer and exporter of essential oils to expand their natural ingredients reach in Central America. Firmenich is investing in Nelixia significantly expanding its raw materials portfolio as well as accelerating its potential in natural…

Uber Technologies to deliver food by drone in new test programme

USA - Uber Technologies Inc., the largest food delivery business in the world, plans to deliver food by drone in San Diego, USA as part of a wide-reaching commercial test program approved by the federal government, according to Bloomberg. Dara Khosrowshahi, the chief executive officer, said people should expect meal delivery in five to 30…

Nestlé pays Starbucks US$7.1b for rights to sell coffee and products globally

SWITZERLAND - Nestlé has announced an agreement granting the company perpetual rights to market Starbucks consumer and foodservice products globally, outside of the company’s coffee shops. Starbucks will receive an up-front cash payment of US$7.15 billion for a business which generated annual sales of US$2 billion, as part of the transaction agreement. According to the…

Drifter Brewing raises funding to drive expansion into US, Europe and Asia

SOUTH AFRICA - Drifter Brewing Company, one of SA’s upcoming brewers has raised almost quarter a million US dollars (R3million) in funding to explore beer markets outside its home continent that is US, Europe and Asia. Business Day reported that the company’s plans to expand its reach outside Cape Town where it is based and…

Meat alternatives startup Impossible Foods to enter Asia after funding round

SINGAPORE- Singapore’s Temasek Holdings has co-led a $114-million convertible note financing round in Impossible Foods, a California-based startup that makes plant-based burger patties that taste like beef. The latest investment brings the startup’s total funding to nearly $400 million so far. Impossible Foods announced the successful closing of the investment, co-led by Shanghai- and Hong…

Carrefour acquires majority stake in French meal delivery company

FRANCE - Carrefour, one of the largest hypermarket chains in the world, has announced that it has acquired a majority stake in the Paris-based ecommerce start-up, Quitoque. The acquisition of the leader of meal kit deliveries, and one of the French pioneers in food technology is part of a strategy to add strength to its…

Global consumer goods companies push for localisation to fight domestic competition

INDIA - Consumer goods MNCs from Nestle and Hindustan Unilever to Coca-Cola and PepsiCo are pushing localisation to the last mile to counter regional competition, fight back the onslaught of local brands, and expand penetration and reach in a market that is showing green shoots of consumption revival. “There are many Indias in India. Each…