Constellation Brands acquires 38% ownership of cannabis producer Canopy Growth

USA - Constellation Brands, a leading beverage alcohol company, has announced that it has acquired 38% ownership of Canopy Growth Corporation, a leading diversified cannabis company. The companies also announced a significant expansion of their strategic partnership to position Canopy Growth as the global leader in cannabis production, branding, intellectual property and retailing. According to…

Scottish firm Inverleith makes multi-million investment in UK’s plant-based food company

UK - Edinburgh-based private equity fund, Inverleith, has made a seven figure, multi-million GBP investment in Braham and Murray Good Hemp, a plant based food and drink brand which manufactures products from hemp seed. According to Private Equity, Inverleith invests in consumer brand companies within the health & wellbeing, lifestyle and heritage sectors. It specialises…

Indorama Ventures acquires PET recycler Sorepla Industrie

FRANCE - Indorama Ventures, one of the world's leading producers in the intermediate petrochemicals industry, has enhanced its PET recycling capabilities with the acquisition of France-based Sorepla Industrie for an undisclosed fee. According to FoodBev, Sorepla Industrie operates a single recycling facility in France which boasts three production lines; one for recycled polyethylene terephthalate (rPET),…

Kroger partners with Alibaba to sell groceries online across China

CHINA - Kroger, an American retailing company, has made plans to sell products on Chinese e-commerce site Alibaba, the latest decision in a series of initiatives to bolster its digital business. According to CNBC, Kroger will open an online storefront on Alibaba's platform for international brands, Tmall Global, as its focus will include dietary supplements…

Sea Harvest expects 31% decline in profits hit by Viking buyout

SOUTH AFRICA - South African fishing company Sea Harvest expects interim basic earnings a share to decline by 31%, a slowdown attributed to the acquisition of rival Viking Fishing Holdings. For the six months ended June, basic earnings were expected to be between 46cents and 50c a share, a decrease of between 31% and 25%…

Frutarom shareholders approve transaction with IFF by a majority of 94.6%

USA - International Flavors & Fragrances Inc. (IFF) and Frutarom Industries Ltd. Have announced that Frutarom shareholders voted to approve the proposed combination of Frutarom and IFF at the special general meeting of Frutarom shareholders. According to Frutarom, of the votes cast at the special general meeting, 94.6% percent were in favor of the proposed…

Competition Commission of India clears Walmart’s US$16bn Flipkart acquisition

INDIA- The Indian regulator has approved Walmart’s US$16 billion acquisition of India’s largest e-commerce firm Flipkart, its biggest takeover ever in a fast growing retail space. In May, Walmart announced the acquisition of 77% stake of Flipkart to beef up competition against its rival Amazon who acquired Whole Foods, the American organic products retailer for…

IMCD completes acquisition of US specialty chemicals distributor E.T. Horn Company

USA - IMCD N.V., a leading distributor of specialty chemicals and food ingredients, has announced that it has successfully completed the acquisition of 100% of the outstanding shares of US specialty chemicals distributor E.T. Horn Company. According to the company, this agreement on the acquisition of HORN was announced by IMCD in its press release…

Land O’Lakes SUSTAIN acquires software company Agren

USA - Land O’Lakes SUSTAIN has announced that Land O’Lakes, Inc., a member-owned agricultural cooperative, has acquired substantially all assets of Agren, Inc., an Iowa-based software company. According to the company, Agren’s soil health and conservation planning software is already helping Land O’Lakes lead the way on innovative conservation stewardship. The Agren business and tools…

HUL signs agreement with Vijaykant Dairy to acquire Adityaa Milk ice cream business

INDIA - Hindustan Unilever Limited (HUL), a consumer goods company, has announced that it has signed an agreement with Vijaykant Dairy and Food Products Limited (VDFPL) and its group company to acquire its ice cream and frozen desserts business consisting of its flagship brand ‘Adityaa Milk’ and front end distribution network across geographies. According to…