A report from ingredients supplier Henley Bridge has warned that cocoa price increases of 15-20% for the first half of 2024 might continue into the second half of the year. Despite growth in global cocoa supply in 2021, unfavourable weather conditions and demand from emerging markets have led to supply deficits.
By carving out the ANH business, DSM-Firmenich would focus fully on its Perfumery & Beauty; Taste, Texture & Health; and Health, Nutrition & Care divisions. Full focus on these businesses is expected to enhance commercial potential and synergies, supporting “consistent growth outlook alongside robust margins”.
Cargill and Enough are expanding their partnership to further develop nutritious and sustainable alternative meat and dairy solutions. Cargill has signed a commercial agreement to use and market Enough’s Abunda protein and has also invested in the company’s Series C growth funding round.
DS Smith has received a takeover approach from Mondi, a rival UK paper specialist, in a deal that would create a European packaging giant with a value of more than £10 billion. Mondi has approached DS Smith with a “highly preliminary expression of interest” regarding a combination that it has been weighing up since the pandemic boom in online shopping.
General Mills, Inc. has made several changes to its leadership, including naming a new leader for its North America Foodservice segment. Pankaj Sharma, currently president of US Meals & Baking Solutions, has been promoted to president of North America Foodservice, effective Feb. 16. He will succeed Shawn O’Grady, who will move into a senior adviser role until his retirement early this summer.