Arla enters Indonesian joint venture with PT Indofood CBP company

INDONESIA - Arla Foods has established a joint venture with one of the leading fast-moving consumer goods companies and dairy players in Indonesia, PT Indofood CBP Sukses Makmur Tbk (ICBP). According to the company, this venture is a big step towards building its business in the region considering Southeast Asia as a strategic growth region…

Target buys online delivery company Shipt to drive e-commerce ventures

USA – US retail company Target has bought US-based online same-day delivery platform Shipt for US$550 million, as it steps up its challenge to rivals Walmart and Amazon. Shipt offers same-day delivery of. Founded in 2014 and located in Birmingham, Alabama, Shipt is a rapidly growing membership-based grocery marketplace and same-day delivery platform for groceries, essentials,…

ThaiBev bets big on Vietnam, buys US$4.8 b stake in largest brewery

VIETNAM - Thai Beverage Plc is doubling down on Vietnam after it partnered with a local company to buy a $4.8 billion stake in the country’s largest brewer, a key step for the company controlled by billionaire Charoen Sirivadhanabhakdi as it seeks to dominate Southeast Asia’s beverage market. Vietnam Beverage, the local unit which ThaiBev holds a…

Alibaba gets CCI approval to invest in India’s BigBasket

INDIA - Chinese e-commerce major Alibaba has got approval of the Competition Commission of India (CCI) for investing in Indian online grocery platform, BigBasket. The move comes within a month of Alibaba seeking CCI’s nod for the same. According to a CCI notice, Alibaba Singapore – a subsidiary of Alibaba Group Holding – had proposed the acquisition and…

Campbell Soup completes acquisition of Pacific Foods for US$700m

USA - Campbell Soup has announced its completion of the acquisition of Pacific Foods of Oregon (Pacific Foods) for US$700 million in cash, subject to customary purchase price adjustments. A leading producer of organic broth and soup, Pacific also produces shelf-stable plant-based beverages and other meals and sides. According to the company, organic food is…

Tyson Foods invests in plant-based protein producer Beyond Meat

USA - Tyson Foods, Inc., an international leader in the food industry, has made an additional investment in plant-based protein producer Beyond Meat. Through Tyson’s venture capital fund, the company chose to participate in Beyond Meat’s most recent fundraising initiative, which is designed to generate additional capital to help the business continue to expand its…

Nestlé acquires Canadian provider of nutritional products for US$2.3b

CANADA - Nestle has announced its agreement to acquire privately-held Atrium Innovations, a global leader in nutritional health products, from a group of investors led by Permira Funds for US$2.3 billion in cash. According to the company, Atrium with its corporate offices in Quebec, Canada, will become part of Nestlé Health Science, upon closing of…

Firmenich to acquire South Africa’s Flavourome to expand African presence

SOUTH AFRICA – Swiss flavors and fragrance company Firmenich has announced its intention to acquire Flavourome, a privately-owned flavors company in South Africa, as it focuses its attention to Africa. Located in Midrand, South Africa, Flavourome has a strong presence in South Africa and the regional African market. It has been in operation since 1998.…

Regulator rejects Tuskys-Nakumatt  deal, asks for revision

KENYA - The competition regulator has rejected retail chain Tuskys’ proposed merger with troubled Nakumatt Supermarkets, arguing that the application for regulatory review was done under the wrong clause of the antitrust law. In a letter to the two retailers seen by the Business Daily, the Competition Authority of Kenya (CAK) has advised that a…