Food delivery startup Faasos in talks to raise US$100m for expansion

INDIA - Rebel Foods, owner operator of Mumbai based food delivery startup, Faasos is in talks with investors to raise more than US$100 million (Rs 735 crore) for expansion of its business. The home delivery platform is looking to enter overseas markets and expand both its product range and cloud kitchen presence nationally, suggests the…

Africa’s flavour group Afribon raises US$2m capital with I&P fund

KENYA - Regional African flavour house, Afribon Group has closed an equity financing agreement with the investment firm Investisseurs & Partenaires (I&P), bringing its total capital raised to US$2 million. According to the company, the I&P injection will help accelerate growth in its existing operations while supporting development in new countries. Apart from implementing transversal…

Chi Ltd unveils 150ml pack size for its Pineapple Coconut variant

NIGERIA - Chi Exotic Nectar, a fruit juice brand of Nigeria’s largest juice company, Chi Limited has launched a new 150ml pack size for its popular Pineapple Coconut product variant. The new offering gives the same superior taste of the brand and comes at a pocket-friendly price (US$0.14). A report in ThisDay Live indicates that…

Tanzania’s food regulator to remove ‘unnecessary’ clearance procedures at the Port

TANZANIA - Tanzania Food and Drugs Authority (TFDA) plans to remove unnecessary food and drug clearance procedures at the Dar es Salaam port to ease the burden of storage fees incurred by business people. The authorities are seeking to enhance efficient business environment and address concerns from members who complained of unnecessary bureaucracy in cargo clearance…

Eastern Africa Grain Council pushes for pulse farming to boost food output

KENYA - The Eastern Africa Grain Council is seeking to promote farming of pulses such as beans, peas, green grams and lentils to boost food production in the region, reports Business Daily. EAGC said pulses take shorter periods and have higher returns compared to maize which has lately been threatened by pests including armyworms. “On…

Molson Coors officially opens modern brewing facility in Canada

CANADA - Molson Coors, a multinational brewing company, has officially broken ground for the construction of company's most modern brewing facility and distribution centre to date. The project represents a major investment and a new chapter in the company's 230 plus years in Canada. This new brewery and distribution centre is a significant investment by…

Ferrero USA invests US$9m to expand New Jersey plant

USA - Ferrero USA, the global confectionery company known for brands such as Ferrero Rocher, Nutella, Tic Tac and Kinder Joy, announced the US$9m expansion of its industrial facility located in Franklin Township, Somerset, N.J. According to the company, its US debut in November 2017 of Kinder Joy surpassed all Ferrero and industry targets for…

Arla Foods launches organic baby brand to the UK market

UK - Arla Foods, an international cooperative, is bringing its follow-on formula to UK parents with a new range of baby products, as it seeks to build on the success seen in Denmark and China by extending the Arla Baby&Me Organic brand which will include porridge and pouches. According to FoodingredientsFirst, Baby&Me Organic brings Arla…

Dr. Oetker to acquire majority stake in wine trader Belvini.de

GERMANY - Dr. Oetker, a German multinational company, has agreed to acquire a 60% majority stake in Belvini.de GmbH, one of the largest online wine traders operating in the German-speaking region. According to Dr. Oetker, it claims that Belvini’s portfolio of over 13,500 products from 800 importers and wineries from over 30 countries is the…

Vegan brand Kite Hill secures US$40m in funding led by General Mills capital arm

USA - US vegan cheese and yogurt brand Kite Hill has secured US$40 million in funding led by 301 Inc, the venture capital arm of General Mills, to enable the brand to increase its capacity, invest in marketing, innovation and people to help fuel growth. Kite Hill – which makes plant-based yogurts, cream cheese-style spreads, soft…