Synergy flavours introduces new ingredient to boost healthy baking

UK – British Food Ingredients Company Synergy Flavours has launched a new ingredient with properties aimed at helping food companies create healthier baked products. The company says its “next-generation” ingredient effectively replicates the taste and texture of common baked goods while reducing calorie content. Synergy says its team formulated the new ingredient with the intent of helping food manufacturers easily reduce fat content in their baked goods with minor recipe adjustments. “We are fully committed to improving dietary health by using our flavor technology and our taste modulation platform to…

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Iconic Namibian artisanal bakery Hansa Bakery shuts down

NAMIBIA – Hansa Bakery, one of Namibia’s oldest baking firms is closing the curtains to its over 40-year-old business, due to loss of business and pilling cost of operations. Signifying the end of an era, Hansa Bakery together with its Przybylski bakery and confectionery unit will finally close their doors on April 30th. This according to a report by Allgemeine Zeitung, was triggered by the company’s long struggle with cost of operations i.e., raw material prices, energy and production costs which have exploded in recent years. Also there has been…

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Grupo Bimbo expands presence in India’s baking industry with acquisition of Modern Foods

INDIA – Grupo Bimbo, a leading Mexican bakery, has bought Indian bread brand Modern Foods from EverFoods Asia, a bread and bakery platform of private equity firm Everstone Capital. Established in 1965, Modern Foods is an Indian manufacturer of white, sweet, health and wellness breads, as well as cakes, rusks, creme bites and muffins. The company operates seven manufacturing units across India, with its products sold through a distribution network covering over 80,000 retailers nationwide. The deal marks the third time that Modern Foods has changed ownership. Everfoods acquired Modern…

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Mondelez considers closing bakery plants in the US that are no longer geographically strategic

US – American multinational confectionery and food company Mondelez has said that it it would officially close plants in Atlanta and Fair Lawn, New Jersey as early as mid-2021 in an effort to consolidate it’s US operations and reduce operations costs. Mondelez said the two locations are no longer geographically strategic and the plants are facing operational challenges, including aging infrastructure that would require “significant investment” to be modernized. The closure in Georgia will affect more than 400 people, while the shuttering of the New Jersey plant will impact roughly…

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Indian pastry giant Mrs Bectors records 86% jump in Q3 profits despite of Covid-19

INDIA – Mrs Bectors Food Specialities, a leading premium bakery player in India, has recorded a jump in profits for the three months ending October 2020, despite the company operating in a challenging environment punctuated by a pandemic. According to a report by Economic Times India, the company’s Q3 profits after tax jumped 86 per to Rs21 crore (about US$1.9 million) from Rs 11 crore (about US$1 million), recorded during a similar period in 2019.  The company’s revenues for Q3 also rose to Rs 226 crore (US$20.6 million)in Q3 FY21…

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Danish biotechnology company Novozymes launches new dough improving ingredient

DENMARK — Global biotechnology company Novozymes has introduced Gluzyme Fortis- a new ingredient which it says strengthens gluten and improves the dough. According to Novozymes, the biological solution makes it easier for bakeries to handle dough and produce bread under warm and difficult climatic conditions. Long supply chains, storage temperature and tough climatic conditions are some of the challenges that impact how ingredients perform during production of bread and ultimately impact the final bread.  “With Gluzyme Fortis, Novozymes has made a new solution to help the industry meet these challenges…

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Indian bread & biscuits maker Mrs Bectors Food raises over US$73m in successful IPO listing

INDIA – Mrs Bectors Food Specialities Limited, a leading supplier of bread and biscuits in India has raised over US$73 million a few hours after its IPO went live in the Indian stock Market. Mrs Bectors is a leader in India’s pastries segments producing biscuits under the ‘Cremica’ brand and selling a wide range of biscuits such as cookies, creams, crackers, digestive biscuits, and an array of premium breads under the ‘English oven’ brand. Mrs Bectors Food which is also a supplier of buns to quick-service restaurant (QSR) chains such…

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Gores Group, Premier Foods sell UK bakery brand Hovis to Private equity firm Endless

UK – Gores Group, a global private equity firm specializing in acquiring and partnering with mature and growing businesses, and Premier Foods have sold UK bakery brand Hovis to Private equity firm Endless for an undisclosed sum. Hovis will become part of Endless’ larger family which is also comprised of BBF, a supplier of ambient cake products to major UK grocers. Headquartered in High Wycombe, the Hovis business employs around 2,700 people and operates eight bakery sites, a flour mill, and a distribution network spanning the UK and Northern Ireland.…

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US private equity firm CORE acquires J&K Ingredients

USA – US-based private equity firm CORE Industrial Partners has acquired J&K Ingredients Corp, a manufacturer of baked goods ingredients, for an undisclosed amount. J&K Ingredients was founded in 1899 and has overtime developed mastery in the baked goods ingredients sector with an emphasis on natural, organic and clean label products. The Company is credited for developing the bakery industry’s first natural mold inhibitor more than four decades ago and remains at the forefront of natural mold inhibitor innovation, custom formulation and manufacturing. Natural mold inhibitors enhance taste, texture, aroma,…

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HKScan partners with Leivon Leipomo to invets in plant-based foods

FINLAND – Meat and food company HKScan Corporation and Finish baked good manufacturer, Leivon Leipomo Oy have agreed to establish a joint venture with the aim of promoting the development and growth of the plant-based Boltsi product line. Leivon Leipomo Oy, founded in 1913, is the oldest private bakery in Tampere, Finland. The bakery has remained under the ownership of the same family. The company employs about 100 people with its plant-based Boltsi oat-seed balls having established their retail position in Finland. “It is great to start collaborating with Leivon…

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