Kraft Heinz to acquire Turkish sauce company Assan Foods to bolster presence in EMEA

TURKEY – Leading American multinational food company Kraft Heinz has agreed to acquire Turkish sauce company Assan Foods from Kibar Holding in a deal that will bolster the company’s presence in Europe, Middle East, and Africa (EMEA).  According to a statement from the maker of popular Heinz tomato ketchup, the planned acquisition of Assan from KIbar Holdings values Assan at approximately US$100 million.  Headquartered in Istanbul, Assan Foods manufactures and sells a wide range of sauce products such as ketchup, mayonnaise, pasta sauces and more.  Assan Foods has acted as a…

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Kraft Heinz to invest US$198m in expanding manufacturing capabilities of UK facility

UK – Kraft Heinz, the fifth-largest food and beverage company in the world, has announced plans to invest £140 million (about US$197.7m) in expanding and modernizing Manufacturing capabilities its Kitt Green food facility, which is located near Wigan, in the UK. The company says that the proposed investment- which is subject to final US approvals from Kraft Heinz later this year- could create up to 50 new full-time positions If approved, the project would be Kraft Heinz’s biggest investment in more than two decades in an existing manufacturing site outside…

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General Mills to acquire Tyson Foods’ pet food business as Kraft Heinz splashes US$200m to acquire Primal Kitchen

US – American multinational manufacturer and marketer of branded consumer foods General Mills has announced plans to acquire Tyson Foods, Inc.’s pet food business for $1.2 billion to strengthen its position in the rapidly expanding category. General Mills entered the pet food category in 2018 when it acquired Blue Buffalo Pet Products, Inc. for approximately US$8 billion. Since then, the pet food market has been rapidly expanding thanks to a rise in the number of American homes that own pets. “Pet food is a high-growth category, fueled by the humanization…

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Kraft Heinz, Keurig Dr Pepper report strong Q1 results buoyed by extended at home consumption

US – Kraft Heinz and  Keurig Dr Pepper, two of America’s most popular food brands have reported strong Q1 results, as sustained at home consumption amid a pandemic maintained the high demand for their goods that started at the onset of the pandemic. As a result, Kraft reported a 2.5% organic growth for the quarter beating estimates that had projected the company to record flat-to-positive organic net sales growth “Our first quarter was better than expected, with our team delivering strong results on top of exceptional growth last year,” said…

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Kraft Heinz bolsters sustainability efforts with use of recycled plastic as roofing material

US – American multinational food company Kraft Heinz, has installed new roofs made of recycled plastic packaging on manufacturing facilities in Beaver Dam, Wisconsin, and Holland, Michigan in an effort to meet its sustainability goals. Kraft Heinz said that the plastic roof is made from post-consumer material that comes from flexible plastic similar to what the CPG giant uses for its products. The company says that it will monitor the recycled material’s performance versus conventional building materials, and may standardize its use if the test goes well. Kraft Heinz will…

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Kraft Heinz sells planters brand to Hormel Foods for US$3.35Bn to focus on core areas of focus

US – Kraft Heinz has entered into an agreement to sell its nuts business to Hormel Foods for US$3.35 in an effort to shore up its balance sheet and boost growth in its three main areas of focus — flavours, quick and easy meals, and snacking. As part of the deal, Hormel will acquire most products under the Planters brand including single variety and mixed nuts, trail mix, Nut-rition products, Cheez Balls and Cheez Curls; as well as the Corn Nuts brand. The sale of Planters, known for its more…

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Kraft Mac & Cheese develops first recyclable fibre-based microwavable cup

US – American food company Kraft Heinz has announced that one of its leading food products Kraft Mac & Cheese will be packaged in what it terms as the “first-ever recyclable fibre-based microwavable cup” Kraft Heinz announced that the new more sustainable and environmentally friendly cups will be first rolled out on a trial basis. Upon completion of the testing stage, the American food company plans to launch a new Kraft Mac & Cheese Shapes variety later this year using the new cup and design. Kraft Heinz explained says that…

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Billion-dollar food industry mergers and acquisitions that took place in 2020

GLOBAL – Despite the unsettled year due to the impact of the global Covid-19 pandemic, 2020 hasn’t been shy of food and beverage industry deals. There were several billion-dollar mergers and acquisitions that took place during the entire year, some shaking up the industry, creating new food behemoths in their respective regions. Food Business Africa reviewed the year and has compiled a list of some of the biggest and most interesting mergers and acquisitions that took place this year. Inspire Brands acquires fast-food chains Dunkin’ Donuts, Baskin-Robbins for US$ $11.3B…

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Kraft Heinz Q3 revenue rise as consumers cook more food at home

US – Kraft Heinz beat third-quarter revenue expectations as consumers bought more of its packaged foods and condiments for at-home cooking. Thanks to sustained at-home consumption in the third quarter, the company saw its net sales increase by 6% to $6.44 billion, beating analysts’ average estimate of $6.32 billion The company which produces the famous Heinz Ketchup and Philadelphia cream cheese saw organic sales rise by 6.3%. Operating income of the American food company however plummeted to approximately $1.15 billion, representing a decline of 2.8%. In the US – the…

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APC Microbiome Ireland partners Kraft Heinz to develop cultures for food use

IRELAND – APC Microbiome Ireland and the Kraft Heinz Company have announced a new collaboration aimed at developing new natural cultures for food fermentations. Fermented foods are created using controlled microbial growth, facilitated by microbial communities, usually in the form of starter cultures, adjuncts or probiotics. The fermentation process helps prolong shelf-life, improve food safety and quality and increase the palatability of foods. The APC, Kraft Heinz collaboration plans to focus on a variety of these bioactive end-products and their applications in food systems.   The research project will initially run…

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