AFRICA'S NO.1 FOOD, BEVERAGE & MILLING INDUSTRY MAGAZINE

Apollo to buy 67% stake in Italian packaging firm Reno De Medici for US$430m

Jul 7, 2021Jul 7, 2021 Editor

ITALY – Apollo Global Management, a US-based investment fund, has agreed to acquire a 67% ownership stake in Reno De Medici (RDM) from its two principal shareholders, Cascades and Caisse de dépot et placement du Québec. Apollo which made the acquisition for about US$430 million plans to launch a mandatory tender offer for the remaining shares, with the aim of delisting RDM. RDM produces and distributes cardboard made from recycled fibers, which is mainly used for packaging and folding cartons in all product sectors including food. The company recently purchased mills in Spain and entered into an agreement…

Coca-Cola HBC to expand product offering in new deal with Italian coffee firm Caffè Vergnano

Jun 29, 2021Jun 29, 2021 Editor

ITALY – Coca-Cola HBC also known as Coca-Cola Hellenic Bottling Company has agreed to acquire a 30% minority stake in Italian coffee company, Casa Del Caffè Vergnano, for an undisclosed sum. Headquartered in Santena, Caffè Vergnano is described as one of the oldest coffee roasters in Italy with roots dating back to 1882. Caffè Vergnano’s boasts of a range of diverse products including traditional espresso in various blends, packages, and formats such as beans, roast, and ground coffee and single portioned pods. In 2020, Caffè Vergnano reportedly sold approximately 7,000 tons of coffee in more than 90 countries worldwide. CC Beverages Holdings II…

Barilla launches global food startups accelerator as Uncle Nearest invests in minority-owned spirit brands

Jun 6, 2021Jun 6, 2021 Editor

ITALY — World’s largest pasta producer Barilla through its venture group BLU1877 has partnered with KitchenTown, a San Francisco-based incubator launch the fourth Good Food Makers global accelerator for food startups. According to a statement from the leading past producer, startups seeking to join the accelerator program will be required to have solutions for four specific challenges affecting food production today. The challenges include promoting a circular economy, improving food delivery, developing digital nutrition guides and creating easy meal routines. The circular economy challenge focuses on solutions to upcycle three…

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

Mar 31, 2021Mar 31, 2021 Editor

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…

Grocery platforms Getir, Everli to expand operations after successful funding rounds

Mar 31, 2021Mar 31, 2021 Editor

EUROPE – Europe-focused grocery platforms Getir and Everly have successfully completed their respective funding rounds, as they look to expand their operations and enter new markets. Getir completed a US$300 million Series C funding round which was led by Sequoia Capital and repeat investor Tiger Global. According to a statement from the company, the funds will be used to support its growth in Turkey and the UK. Istanbul-based Getir entered the UK market in January this year, launching in parts of central London. The technology company offers a ten-minute grocery…

Italian household appliance company De’ Longhi to acquire maker of NutriBullet and Magic Bullet for US$420m

Nov 26, 2020Nov 26, 2020 Editor

ITALY – Italian household appliance company De’ Longhi has agreed to buy California-based domestic appliances group Capital Brands Holdings for approximately US$420 million. Founded in 2003 and headquartered in Los Angeles, Capital Brands is a leader in the personal blenders segment with its Nutribullet and Magic Bullet brands being the most popular among consumers. The company sells domestic appliances with a focus on wellness nutrition to households in over 100 markets worldwide. It forecasts net revenue of around US$290 million for year 2020, ahead of last year sales. Commenting on…

US manufacturing group Trimas to acquire Italian Caps and Closers maker Affaba & Ferrari

Nov 2, 2020Nov 4, 2020 Editor

ITALY – US manufacturing group Trimas has acquired Affaba & Ferrari designs, an Italian designer and manufacturer of precision caps and closures for the food and beverage industry. The deal – which was made for an undisclosed sum –marks TriMas’ fourth acquisition in the packaging sector since 2019, as it aims to grow the platform. Founded in 1949, Affaba & Ferrari designs, develops and manufactures proprietary, precision caps and closures with intellectual property protection for customers throughout Europe. Its product offering includes aseptic caps for juices, dairy products and sport…

Granalo divests its Pandea baked goods unit to focus on dairy market

Oct 24, 2020Oct 24, 2020 Editor

ITALY – Italian dairy company Granarolo has sold its Pandea baked goods unit to local bread maker Morato Pane, in an effort to refocus on the Italian dairy market. Pandea, which has operated in Parma since 1946, was acquired by Granarolo through a bankruptcy auction in 2016. It specialises in the production and sale of baked goods and gluten-free products. The unit recorded turnover of €12m in 2019, of which over €10m came from exports, specifically in France and the UK. “This operation is part of the new business plan,…

Italian coffee equipment maker launches a new S60 professional coffee machines

Sep 21, 2020Sep 21, 2020 Editor

ITALY – La Cimbali, an Italian manufacturer of professional espresso and cappuccino equipment, has launched the new S60, a fully-automatic model which can reportedly produce 600 cups of a coffee a day, expanding its S series of professional coffee machines. According to La Cimbali, the S60 model is designed for high footfall areas where speed of service and quality are critical, such as city centre restaurants and travel hubs such as airports and train stations. The Cimbali S60 superautomatic features new barista tools to enhance the user experience for staff.…

Zerica launches contactless buttons for its Kolumna water dispenser

Sep 18, 2020Sep 18, 2020 Editor

ITALY – Zerica, a water dispenser manufacturer, has introduced contactless ‘hover’ buttons for its newly launched Kolumna water dispenser, which allow users to select a drink without making physical contact with the buttons. The Kolumna unit is able to dispense filtered chilled, ambient or sparkling water. To use the buttons and select a drink, consumers need to hover a finger over the button which corresponds to their drink of choice. Zerica also announced that the touch-free buttons will be available on several of its water dispenser models, adding to the…