Hormel Foods agrees to sell Fremont processing facility to WholeStone Farms

USA - Hormel Foods Corporation, a global branded food company, and WholeStone Farms, have announced that they have entered into a definitive agreement to sell the Hormel Foods Fremont, Neb., processing facility to WholeStone Farms, LLC. According to Hormel Foods, the transaction is subject to customary closing conditions and is expected to be completed in…

Constellation Brands acquires 38% ownership of cannabis producer Canopy Growth

USA - Constellation Brands, a leading beverage alcohol company, has announced that it has acquired 38% ownership of Canopy Growth Corporation, a leading diversified cannabis company. The companies also announced a significant expansion of their strategic partnership to position Canopy Growth as the global leader in cannabis production, branding, intellectual property and retailing. According to…

Scottish firm Inverleith makes multi-million investment in UK’s plant-based food company

UK - Edinburgh-based private equity fund, Inverleith, has made a seven figure, multi-million GBP investment in Braham and Murray Good Hemp, a plant based food and drink brand which manufactures products from hemp seed. According to Private Equity, Inverleith invests in consumer brand companies within the health & wellbeing, lifestyle and heritage sectors. It specialises…

Coca-Cola takes minority ownership stake in sport drinks brand Bodyarmor

USA - Coca-Cola is taking a minority ownership stake in Bodyarmor, a fast-growing line of premium sports performance and hydration beverages for an undisclosed sum. The company said that through the strategic relationship, Bodyarmor will remain an independent company and gain access to the expansive Coca-Cola bottling and distribution system. The initial investment, which will…

Indorama Ventures acquires PET recycler Sorepla Industrie

FRANCE - Indorama Ventures, one of the world's leading producers in the intermediate petrochemicals industry, has enhanced its PET recycling capabilities with the acquisition of France-based Sorepla Industrie for an undisclosed fee. According to FoodBev, Sorepla Industrie operates a single recycling facility in France which boasts three production lines; one for recycled polyethylene terephthalate (rPET),…

Sea Harvest expects 31% decline in profits hit by Viking buyout

SOUTH AFRICA - South African fishing company Sea Harvest expects interim basic earnings a share to decline by 31%, a slowdown attributed to the acquisition of rival Viking Fishing Holdings. For the six months ended June, basic earnings were expected to be between 46cents and 50c a share, a decrease of between 31% and 25%…

Frutarom shareholders approve transaction with IFF by a majority of 94.6%

USA - International Flavors & Fragrances Inc. (IFF) and Frutarom Industries Ltd. Have announced that Frutarom shareholders voted to approve the proposed combination of Frutarom and IFF at the special general meeting of Frutarom shareholders. According to Frutarom, of the votes cast at the special general meeting, 94.6% percent were in favor of the proposed…

Competition Commission of India clears Walmart’s US$16bn Flipkart acquisition

INDIA- The Indian regulator has approved Walmart’s US$16 billion acquisition of India’s largest e-commerce firm Flipkart, its biggest takeover ever in a fast growing retail space. In May, Walmart announced the acquisition of 77% stake of Flipkart to beef up competition against its rival Amazon who acquired Whole Foods, the American organic products retailer for…

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…

Perdue Farms subsidiary acquires Cargill’s closed elevator in the US

USA - Perdue AgriBusiness, the grain subsidiary of the Salisbury based Perdue Farms has acquired a shuttered Cargill grain elevator in Vincennes, Indiana, U.S, set to reopen for the 2018 harvest. The companies said while the sale is finalized, the elevator will be operated as a leased facility and at the moment, Perdue is undertaking…