PepsiCo Inc has bid to acquire Brazilian dairy company Fábrica de Produtos Alimentícios Vigor SA, according to reports published in two Brazilian newspapers on Wednesday.
Valor Econômico cited unnamed industry sources in reporting that U.S.-based PepsiCo had made two bids, the second of which was about 6 billion reais ($1.9 billion). It said the current owner, J&F Investimentos Ltda, had not agreed on the value of a deal.
J&F, which also owns meatpacker JBS SA and wood pulp producer Eldorado Brasil Celulose SA, has sought competing bids from other companies such as French Group Lactalis, the controlling owner of Parmalat (PLT.MI), according to Valor.
Newspaper O Estado de S. Paulo reported Mexico’s Grupo Lala SAB also had eyed the possible acquisition.
PepsiCo told Reuters in an email that it did not comment on rumors or speculation. Representatives for J&F, Lactalis and Lala did not immediately respond to requests for comment.
By Ana Mano
Source: Reuters
IFF has announced that its chief financial and business transformation officer, Glenn Richter, will retire on 31 December 2024, following a three-year tenure with the company. IFF has initiated the process of selecting a successor for the CFO position, considering both internal and external candidates.
Saputo has announced that its president and CEO, Lino Saputo, will transition to the role of executive chair of the board. The transition is set to take place on 9 August, when Carl Colizza, the company’s current president and COO for North America, will assume the position.
The coffee giant said the funding will be used to install new tech, such as roasting equipment, increasing production line flexibility to make new products and flavours – including higher value-added products, – and technology updates to improve sustainability.
