(RTTNews) – Dairy Crest Monday said it has purchased the outstanding 50 percent share of Promovita Ingredients Limited held by Fayrefield Foods Limited for a cash consideration of 6 million pounds, funded from existing borrowing facilities.
Promovita was established in 2014 as a 50/50 joint venture between Dairy Crest and Fayrefield to develop and produce GOS, a prebiotic for use in infant formula.
After investing in the manufacturing capability at Davidstow and successfully producing GOS samples, Dairy Crest now believes that full ownership of Promovita is in its and shareholders’ best interests. It allows Dairy Crest sole control over the development of the GOS business and to fully benefit from the value that this business generates, the firm said.
Consumer healthcare firm Haleon has appointed Tate & Lyle executive Dawn Allen as its new chief financial officer, effective 1 November 2024. Allen will succeed Tobias Hestler, who has decided to step down from the role, citing a long-term health condition, the company said.
The group said that the bottling line, which adds 6,500 square metres to the existing 60,700-square-metre site, is the next necessary stage in the company’s international development. The leading brand in Campari Group’s global sales, demand for the Italian bitter apéritif has grown by 500% in the last decade.
The partnership will see Coca-Cola adopt new technology to foster innovation and productivity globally. Through the deal, Coca-Cola has made a $1.1 billion commitment to the Microsoft Cloud and its generative AI capabilities.
