Premium Brands acquires meat snacks producer Oberto Brands

USA - Premium Brands Holdings has announced the acquisition of the North American brand and manufacturer of beef jerkey and other protein based snack foods, Oberto. The purchase encompasses all of the assets and operating divisions of Seattle based Oberto Sausage company, and the transaction expected to close within the next four to six weeks.…

Zambeef completes majority stake sale of Zampalm to IDC

ZAMBIA - Zambeef Products Plc has announced that it has completed the sale of its majority stake in its wholly owned subsidiary and oil producer, Zampalm Ltd to the Industrial Development Corporation of Zambia Limited (IDC) for US$16 million in cash. Zampalm Ltd was incorporated in 2009, has some 409,506 palms planted on its plantation, supplies…

Lesaffre announces the acquisition of Tunisia’s Rayen Food Industries

TUNISIA – Lesaffre, a French yeast manufacturer and the world's largest producer, has announced the acquisition of a majority shareholding in the company Rayen Food Industries in Tunisia. Rayen Food Industries is the largest production plant of baker’s yeast in Tunisia. This acquisition is in line with Lesaffre’s goal of strengthening its presence on the…

Fonterra partners with Apollo Foods in new technology to boost beverage market

NEW ZEALAND - Fonterra and Apollo Foods, an innovative start-up company have partnered to launch a new technology capable of running dairy and fruit beverages to boost the beverage industry in New Zealand. They have collaborated to install an innovative beverage filling technology that allows production of different containers on site and fill them with…

Walmart nears close of majority stake deal in India’s Flipkart

USA - Walmart, the American multinational retail corporation is likely to close a deal to acquire majority stake in the Indian ecommerce company, Flipkart by June in what ET Retail reports could be the biggest acquisition of an online business by the retailer. Walmart is stepping up its online business against Amazon, which Bloomberg reports…

McCain Foods completes its investment in the Canadian TruLeaf business

CANADA - McCain Foods Limited, a global leader in appetizers and snacks, has completed a strategic investment in TruLeaf Sustainable Agriculture, a highly innovative Canadian agricultural technology company. TruLeaf has developed proprietary indoor vertical farming technology to grow fresh and nutritious leafy greens of high quality and flavour, in an environmentally sustainable way, 365 days…

Packaging specialist Bowler Metcalf sales its 41.38% stake in SoftBev

SOUTH AFRICA - Bowler Metcalf, manufacturer and seller of plastics and plastic moldings has completed the sale of its 41.38% stake in SoftBev, a company engaged in the production, bottling, and marketing non-alcoholic beverage products in South Africa. Upon the approval of the sale, Bowler’s share price finished 12.2% stronger at US$0.84 and that the…

China’s agri-company buys 25% stake in Ausnutria Dairy Corp. for US$250m

ASIA - CITIC Agri Fund Management Co Ltd, the private equity arm of CITIC Securities Company Limited has acquired a 25.18% stake in an investment holding firm, Ausnutria Dairy Corp. for US$250million to become the company’s largest shareholder. In a filing to the stock exchange reported by Reuters, Ausnutria said that CITIC Group Corp Ltd,…

Accor SA acquires 50% stake in Mantis Group to expand into African hotel market

SOUTH AFRICA - Accor SA, the French multinational hotel group has expanded its reach into the African continent by acquiring a 50% stake in the South African- based Mantis Group, according to Business Report. Mantis group, traded under the name, Mantis Collection is an exclusive collection of privately owned, award-wining, star properties all around the…

SGS acquires Oleotest as it expands its reach in Belgium

BELGIUM - SGS SA, the Geneva-based multinational company that provides inspection, verification, testing and certification services has acquired Oleotest NV based in Belgium for an undisclosed sum. Oleotest NV, founded in 1959 in Antwerp, provides chemical testing services in food, feed and agricultural commodities. According to SGS, the company which has a lab that is…