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NETHERLANDS – Dutch dairy multinational, FrieslandCampina has reached an agreement to sell its cream liqueur manufacturer Creamy Creation to Dutch investment company Wagram Equity Partners (Wagram). The transaction whose details were not disclosed includes the production of cream liqueurs in Rijkevoort and sales office in Paramus (the United States of America). The company said…
ITALY – The global spirits company, Pernod Ricard has agreed to acquire the Italian super-premium gin brand Malfy from Biggar & Leith for an undisclosed sum. Malfy makes a range of super-premium gins distilled by the Vergnano family in the Italian region of Moncalieri, and already present in several international markets such as the United…
ETHIOPIA - The Ethiopian government has embarked on the process of privatizing 13 sugar factories that are operational or under construction as it seeks to enhance efficiency and improve productivity. According to Addis Fortune, the ministry of finance and the Ethiopian Sugar Corporation have released a request for information (RFI) which will be used to…
UK – Canadian dairy company, Saputo has announced that it has completed the acquisition of Dairy Crest, a United Kingdom-based milk products company in a transaction valuing the company at US$1.2 billion (£975 million). Dairy Crest adds Saputo a portfolio of cheese, butters, spreads and oils under leading British brands, such as Cathedral City, Clover,…
KENYA – Kenya based retailer, Uchumi Supermarkets, has unveiled plans of franchising more of its branches across the country in a move that aims at enabling the retailer recover its performance and grow its business. Speaking while handing over its Nairobi West branch that will see the outlet operated by a franchisee Uchumi Supermarkets chief…
USA - Campbell Soup has agreed to sell its organic beverages, dressings and carrots brand Bolthouse Farms to a private equity firm Butterfly Equity for US$510 million. The deal, subject to customary purchase price adjustments is expected to complete by the end of 2019. This is part of the continued portfolio review announced in August…
SOUTH AFRICA – Brimstone Investments Corporation, a South African investment firm has announced that it will not participate in the US$343.95 million acquisition deal of South Africa’s largest dairy firm, Clover Industries. Brimstone’s decision to pull out from the deal follows continued pressure arising from criticism by the lobby group Boycott, Divestment, Sanctions (BDS) South…
INDIA - Acacia gum manufacturer, Alland & Robert has announced a new joint venture with India’s Sayaji Industries for production of acacia gum for the Indian market. The 50:50 joint venture will allow Alland & Robert produce acacia gum targeting the agri-food, the pharmaceutical and the cosmetic industries. The partnership will carry a new name…
USA – Danone has announced that it has reached an agreement to sell its US organic salads business Earthbound to California-based Taylor Farms for an undisclosed sum. The company said the divestment is part of its portfolio management and capital allocation optimization strategy. Earthbound Farm is said to have registered US$400 million in annual sales…
EUROPE – Italian dairy company Granarolo has acquired a majority stake in Venchiaredo, a producer and distributor of cheese products for an undisclosed amount. Granarolo which makes fresh milk and dairy-cheese, dry pasta, deli meats and vegetable foods has increased its stake in the Italian firm from 33.5% to 57.5%. Founded in 1968 and is…