PepsiCo to acquire Israeli manufacturing company SodaStream

USA - PepsiCo, Inc., an American multinational food and beverage corporation, has entered into an agreement to acquire all outstanding shares of SodaStream for US$144.00 per share in cash which represents a 32% premium to the 30-day volume weighted average price. SodaStream International Ltd. is an Israeli manufacturing company. According to the company, the acquisition…

Java kicks off 3-year growth strategy in Africa with 3 more outlets in Rwanda

RWANDA - Java House, one of the largest coffee houses in Africa is set to open three additional stores in the next six months in Rwanda as it plans to gain a wider footprint in the African coffee-led restaurants. According to Business Daily, the coffee chain plans to open two additional branches and an outlet…

AfDB to avail US$1.5bn annually to support young agriculture entrepreneurs in Africa

CÔTE D’IVOIRE - The regional development finance institution Africa Development Bank (AfDB) has said it will avail more than US$1.5 billion annually towards agriculture in support of young entrepreneurs in the sector across the continent, the Herald has reported. The financial support was part of its efforts to make agriculture more attractive to young people…

Dairibord overturns loss position with 131% jump in profits in the half year

ZIMBABWE - Food and dairy processor, Dairibord Zimbabwe Holdings has recorded 131% increase in net profit to US$269,844 during the half year ended 30 June 2018 on volumes growth and restructuring. Revenue for the period was 15% above same period last year to US$50.8 million while volume grew 6% to 41 million litres as a…

Tanzania Breweries to construct US$109m mega plant in Dodoma

TANZANIA - Tanzania Breweries Limited (TBL), the country's oldest and largest brewing company has announced intentions to shift its headquarters from Dar es Salaam to Dodoma where it plans to construct the country’s biggest plant worth US$109.51mn, reports Daily News. Construction of the new brewery is expected to begin 2020 to be completed in two…

Top pork producer WH Group to close abattoir to contain swine fever outbreak

ASIA - Privately owned Chinese meat and food processing company, WH Group has been ordered to close an abattoir in a bid to contain spread of second outbreak of deadly African swine fever (ASF), according to a Reuters report. Zhengzhou city authorities had ordered a temporary six-week closure of the abattoir, one of 15 controlled…

Arla Foods to launch the world’s fastest cream cheese manufacturing process

USA - Arla Foods Ingredients, a global leader in value-added whey solutions, has announced that it will launch one of the world’s fastest cream cheese manufacturing processes at Food Ingredients South America. According to the company, cream cheese-making is a complex procedure that can take up to 20 hours and generates significant amounts of acid…

ADM acquires Brazilian Oilseeds Facilities to expand market range

USA - Archer Daniels Midland Company, an American global food processing and commodities trading corporation, has announced that it has agreed to purchase certain assets of Brazil-based Algar Agro, including oilseeds processing facilities in Uberlândia in the state of Minas Gerais, and Porto Franco in Maranhão. According to the company, it will become owner of…

PepsiCo Mexico cuts down on sugar and salt by 24% in snacks

MEXICO - PepsiCo Mexico has cut down on sugar and salt across its snacks portfolio by 24% as part of a long-term reformulation strategy designed to reduce added sugars and sodium across products. According to FoodingredientsFirst, Mexico was a pioneer in implementing a sugar tax on sugary soft drinks in a bid to cut alarming…

Monsanto glyphosate traces found in children breakfast cereals and snack bars in US

USA - Significant levels of the weedkilling monsanto chemical glyphosate have been found in an array of popular breakfast cereals, oats and snack bars marketed to US children, a new study has found. According to the Guardian, tests have revealed glyphosate, the active ingredient in the popular weedkiller brand Roundup, present in all but two…