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ASIA – US food packaging company, Sealed Air has acquired the Philippines based producer of flexible packaging, MGM Food and Commodities Corp for an undisclosed amount. With the transaction, expected to close in April, Sealed Air plans to leverage MGM’s expertise to expand its printing and lamination capabilities and better serve customers throughout the Asia…
RUSSIA - VTB Bank, one of the leading universal banks of Russia has reached an agreement to acquire a grain terminal from Novorossiysk Commercial Sea Port (NSCP), a leading commercial sea port operator for an undisclosed sum. The deal will enable the VTB bank have more control over Russia’s main deep-sea grain export hub. The…
SWITZERLAND - Coca-Cola Hellenic Bottling Company has announced that it has agreed to acquire Serbia’s leading confectionery business, Bambi for US$293.7 million (€260 million). According to the company, the deal, which is subject to certain closing adjustments will help increase its presence in biscuits and other confectionery products market in the country. Completion of the…
UK – British food manufacturer has dropped plans to offload its Ambrosia brand which includes rice pudding and custards, which it had planned to sell for a consideration of about US$129 million. The company which makes Mr Kipling cakes has blamed difficult business climate as well as its huge debt which it had planned to…
SWITZERLAND – Nestle has announced the global launch of a new range of coffee products under the Starbucks brand following last year’s US$7.15 billion tie-up deal to sell Starbuck’s coffees and teas. The new range involves 24 products including whole bean and roast and ground, as well as the first-ever Starbucks capsules developed using Nespresso and Nescafé Dolce…
CANADA - Providence Grain Group (PGG), producer-owned grain business has sold 51% stake in Columbia Containers Ltd to Canadian holding company, Timber Investments Ltd for an undisclosed sum. Established in 2002, Providence Grain will remain with 49% ownership stake in the company. According to Timber Investments, the investment in CCL will complement its interests in…
KENYA - The Competition Authority of Kenya (CAK) has approved acquisition of Kenyan chemical distributor Desbro Limited by Brenntag Holding B.V., a subsidiary of Germany-based chemical distributor Brenntag Group, reports Business Daily. CAK approved the acquisition on condition that Brenntag retains 80 employees who currently work at the firm for a period of one year.…
AUSTRALIA - Nordzucker AG, Europe’s second largest sugar manufacturer has agreed to acquire 70% majority stake in Australian sugar producer Mackay Sugar for US$42.49 million (AUD 60 million). The transaction, which is subject to the approval by the regulatory bodies as well as Mackay Sugar shareholders will also see the sale of one of its…
USA - ZX Ventures, the venture capital fund backed by AB InBev has acquired 100% ownership of the beer rating website RateBeer, according to founder Joe Tucker’s statement on the company website. RateBeer is a quality-focused organization and widely recognized as the most in-depth, accurate, and one of the most-visited source for beer information. ZX…
CANADA – Leading beverage manufacturer, Refresco Group has acquired the concentrate manufacturing business of Canada based beverage and foodservice company, Cott Corporation. The transaction whose details remain undisclosed, RCI International division, which Refresco has agreed to sell to RC Global Beverages Inc. With the divestment, Cott is moving out of the carbonated soft drinks operations.…
