Tuskys to guarantee Sh3bn Nakumatt debt as part of merger deal

KENYA - The battle to save Nakumatt Supermarkets yesterday took a new turn after rival Tuskys offered to inject Sh650 million into the troubled retail chain and recurring payment guarantees of between Sh1.5 billion and Sh3 billion for the outstanding debt. The offer is subject to the Competition Authority of Kenya (CAK) approving a takeover…

Indian colour maker Roha acquires Canadian business

INDIA – Indian colours supplier Roha has acquired Cambrian solutions colour business in Canada, in a bid to expand on its vision to stay true to local values while providing products and services of global standards. According to FoodIngredientsFirst, Cambrian has been working in Canada since 1997 to build the synthetic colour business exclusively on…

Shoprite prepares Kenya entry to fill gaps left by Nakumatt

KENYA - Shoprite Holdings Ltd. is in talks to open its first stores in Kenya by filling retail space left empty by the struggling Nakumatt Holdings Ltd. chain. “We are currently in talks with some of the property owners, but nothing has been signed,” Shoprite director Gerhard Fritz said in an emailed response to questions. Africa’s…

Cargill acquires US animal nutrition company Diamond V

USA – Leading food and agribusiness company Cargill has signed a binding agreement to acquire Diamond V, a provider of natural immune support products and technologies that improve animal health, animal performance and food safety. According to Cargill, the acquisition will accelerate the company’s push to meet consumers demand for more wholesome food production to…

Kraft Heinz plans to buy Cerebos’ foods and Asian gourmets

USA - Kraft Heinz the American multinational confectionery, food and beverage conglomerate, plans to buy Cerebos’s food and instant coffee and Asian home gourmet units from Japan’s Suntory, at a value worth US$228.2 million. The deal, which includes Cerebos’s Saxa salt, Gregg’s and Bisto brands, is expected to be completed in early 2018. However, the…

Fuchs Groups acquires Bart Ingredients for an undisclosed sum

GERMANY – Fuchs Group, German’s largest spice producer, has acquired British herbs and spice company Bart Ingredients from the private equity firm Langholm Capital, for an undisclosed sum. Bart Ingredients, previously owned by private equity firm Langholm Capital LLP, has been transformed significantly with an award-winning brand position, bespoke customer relationships together with enhanced and…

International Breweries merger gets shareholders’ approval

NIGERIA - International Breweries Plc (“IBPlc”), said on Thursday that its shareholders and the shareholders of Intafact Beverages Limited and Pabod Breweries Limited (the “merging entities”) have approved the merger of all three companies. With approval received from the shareholders of the merging entities, the company said it will will seek final regulatory approvals from…