Fonterra re-enters India through a joint venture with Future Group

INDIA - New Zealand dairy giant Fonterra has partnered with fast moving consumer goods arm of Future Group, Future Consumer Ltd to form a joint venture that will see the dairy co-operative launch dairy products in India. Fonterra Future Dairy Partners, a 50:50 joint venture will enable Fonterra tap a significant portion of the dairy market…

Clover shares grow on expected increase in headline earnings

SOUTH AFRICA - The branded foods and beverages group, Clover Industries said it expects its headline earnings a share to increase by between 207.13% and 227.13% for the year to June, IOL reports. Following the announcement, its share price jumped by 2.14 % to $1.36 a share, from the previous price of $1.33. The release…

EU and Eastern Europe drought causes damage to wheat, maize and barley crops

EUROPE - The drought in many regions of the European Union and Eastern Europe has caused significant damage to wheat, maize and barley crops, according to FAO of the United Nations. FoodingredientsFirst reported that the Food and Agriculture Organization of the United Nations (FAO) said that the prices of these crops could remain under upward…

Emmi increases stake in Emmi Ambrosi France from 51% to 85%

FRANCE – Emmi, a Swiss milk processor and dairy products company, has increased its stake in Emmi Ambrosi France, a packaged cheese joint venture in France, from 51% to 85%. According to FoodBev, the business was founded in 2008 following a collaboration between Emmi and Italian cheese specialist Ambrosi, as the companies aimed to offer…

Green Plains to acquire Bartlett’s US cattle feed business for US$16m

USA - Green Plains, the parent company to feedlot firm Green Plains Cattle Co., has signed a definitive agreement to acquire Kansas based Bartlett Cattle Co’s cattle feeding operations in Sublette, Kansa and those in Tulia, Texas for US$16 million. The transaction also will involve a working capital of US$109 million. According to World Grain,…

Thai dairy company Nutridor forms partnership to expand into the Cambodian market

ASIA - Nutridor, a dairy products manufacturer, has formed a new partnership that will see it introduce its Abevia Gold sweetened beverage and evaporate creamers to the Cambodian market. The dairy producer will hand over the marketing marketing and sales, merchandising, distribution and logistics of the products to DKSH Business Unit Consumer Goods, a market…

UAE issues new labeling and licence regulations for dairy and beverages

ASIA- The United Arab Emirates (UAE) cabinet has issued regulations for the dairy, beverages and juice categories, requiring licencing of companies as well as proper labeling of the products to ensure conformity to standards. The two regulations cover the UAE regulatory system for the monitoring of milk and dairy products, and on the monitoring of…

China dairy firm Yili to acquire Pakistan’s Fauji Foods Limited

CHINA - A China-based dairy firm, Yili, has expressed its intention to acquire a majority stake with management control in Fauji Foods Limited (FFL), known for its Nurpur brand, according to a notice to the Pakistan Stock Exchange (PSX). According to Express Tribune, Inner Mongolia Yili Industrial Group Company Limited, will hold talks to acquire…

Grupo Lala appoints former AB InBev executive Mauricio Leyva Arboleda as new CEO

MEXICO - Mexico’s dairy company Grupo Lala has named former AB InBev executive Mauricio Leyva Arboleda as its new CEO, replacing current chief executive Scot Rank as of 1 September 2018. According to FoodBev, Mauricio Leyva worked for more than 13 years at AB InBev, was president of its middle Americas zone and has been…

Mondelēz International reports 2.1% revenue increase in second quarter results

NEW ZEALAND - Mondelēz International, Inc., has reported 2.1% increase in net revenues, with organic net revenue growth of 3.5% in its second quarter 2018 results. According to the company, the operating income margin was 7.9%, down 270 basis points, while adjusted operating income margin was 16.7%, up 130 basis points. The diluted EPS was…