Category: WORLD NEWS

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Olam secures US$1.45Bn financing facility to bolster its sustainability sourcing platform

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SINGAPORE –  Leading global food and agri-business company,  Olam International Limited has secured a US$1.45 billion facility to help fund activities carried out over its AtSource sustainability insights platform. According to Olam, AtSource is  a “sustainability insights platform” which gives customers a view of their supply chain sustainability parameters. The agribusiness company further notes that the platform also provides insights into how the its customers can effect positive change within the ecosystem and create value for all.  Roel Van Poppel, CEO of AtSource, explains that the sustainability platfrom was created…

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Cargill sells stake in Alvean joint venture to Brazilian partner Copersucar

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BRAZIL – Agricultural commodities trading giant, Cargill has agreed to offload its 50% stake in the Alvean sugar trading joint venture to its Brazilian partner and world’s largest sugar and ethanol company, Copersucar. Upon completion of the transaction, Cargill will exit the global sugar trading business, in line with its strategic goal of focusing more on its core food, agriculture, and trading businesses. The agricultural commodities traders however say that it will remain active in both global commodity trading as well as the sugar ingredient business in Brazil, Mexico, and…

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Nestlé unveils coffee-flavored S.Pellegrino Essenza line, completes sale of North America water business

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US – World’s number one food manufacturing company, Nestlé is adding a coffee-inspired line to its S.Pellegrino Essenza portfolio of flavored sparkling mineral waters. The company revealed that the new gently caffeinated S.Pellegrino Essenza products are available in three flavour combinations namely vanilla & coffee, cocoa & coffee and caramel & coffee. Bottled at source in Italy and scheduled to launch in US, the new zero-calorie line is free from sweeteners and contains 30mg of caffeine, which is said to be around one third of the amount in an average…

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DSM acquires Amyris’ flavour and fragrance business to bolster nutritional ingredients portfolio

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NETHERLANDS – Global Biosciences Company, DSM is poised to expand its nutritional ingredients portfolio following an agreement with Amyris to acquire its flavor and fragrance (F&F) bio-based intermediates business for an upfront consideration of US$150 million. According to statement from the company, the deal will add seven intermediate products to its existing personal care and aroma ingredient activities. Of the new intermediate products being added, four already generate meaningful sales and (Earnings Before Interest, Taxes, Depreciation, and Amortization) EBITDA. Two of the products have just launched and another one is…

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Friesland Campina Ingredients launches new product to aid in production of softer protein bars

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NETHERLANDS– FrieslandCampina Ingredients (FCI), a subsidiary of Dutch multinational dairy cooperative Royal  FrieslandCampina N.V. has unveiled a new portfolio designed to processors make softer protein bars. According to FCI, the protein bar market in Europe is anticipated to grow at a CAGR of 17 percent as from  2015 to 2024 buoyed by rising popularity of the products among consumers. The company however notes that palatability continues to be a major issue for many formulators. This company notes is going to have an impact on the bottomline of companies that don’t…

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Chr. Hansen completes its US$939m sale of Natural Colors business

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DENMARK – Global biosciences company Chr. Hansen has completed the sale of its Natural colours business to global investment organization EQT in line with its 2025 strategy of focusing on microbial and fermentation technology platforms. The divestment covers business operations with asset transfers in more than 30 countries including the transfer of five separate corporate entities and around 600 employees. According to a FoodIngredientsFirst report, the Danish-based company had agreed to sell its business to EQT in September 2020 for US$939 million on a cash and debt-free basis. The company…

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Bunge offloads grain terminal in Russia as biscuit maker Lotus achieves full control of Italian joint venture

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EUROPE – Bunge, one of the largest agricultural commodities trading companies in the world, has sold its Rostov grain terminal in southern Russia for an undisclosed sum, according to a report by Reuters. The news comes as Belgium-headquartered biscuit maker Lotus is consolidating its presence in Italy by achieving the full ownership of its marketing joint venture, Lotus Bakeries Italia. Following the acquisition, Lotus Bakeries Italia will now focus exclusively on marketing Lotus Bakeries brands in the country. “With the acquisition of full control over our entity in Italy, we’re…

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PepsiCo accelerates transition to electric mobility, launches new US$40m scholarship program for Black and Hispanic students

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US – American multinational snack and beverage company, PepsiCo is moving beyond the electric truck pilot program and is embarking on a large-scale transition of its fleet to electric and other zero-emission technologies. According to a report by GreenBiz, the maker of Pepsi Soda, has a goal of converting a large portion of the 27,000 trucks and vans that move its products to more sustainable technologies. At the moment, the company through its Frito-Lay snack food division, is using a manufacturing facility in Modesto, California, as a testbed to try…

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Molson Coors transitions UK brewing operations to 100% green energy as battle against cybersecurity threat intensifies

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UK – Molson Coors Beverage Company is set to become the first major UK brewer to produce all of its beers and ciders using 100% green electricity. This is after the company signed a ten-year power purchase agreement (PPA) with RWE, which will see all of its UK operations powered by renewable electricity. The move is a major step towards achieving Molson Coors’ 2025 sustainability goals, including its aim to reduce carbon emissions by 50% across all direct operations. The brewer says that the renewable energy deal with RWA sees…

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Bacardi, Manchester Distillery expand alcoholic beverage portfolios with new product launches

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EUROPE – Alcoholic beverages giant Bacardi and its much smaller rival Manchester Distillery have introduced new products to expand their respective alcoholic beverage portfolios. Bacardi which is one of the one of the largest privately held, family-owned spirits company in the world has introduced three new ready-to-drink (RTD) offerings, expanding its Martini portfolio. These include Martini Fiero & Tonic and Bacardi, Martini Non-Alcoholic Vibrante & Tonic, and Martini Non-Alcoholic Floreale & Tonic. Martini Fiero & Tonic is described as a “perfectly balanced” drink featuring vibrant citrus notes of Murcia orange…

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