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Latest News: Consumer Packaged Goods

June 22, 2024
Consumer Packaged Goods

UK soft drink manufacturer Britvic has rejected a $3.95 billion takeover bid from Danish brewer Carlsberg. The Britvic board turned down a proposal worth 1,250 pence a share from the beer giant last week (11 June), following a previous offer (7 June) at 1,200 pence. The proposal positioned Britvic at an implied enterprise value multiple of 13.1x Britvic’s adjusted EBITDA of £302 million.

June 22, 2024
Consumer Packaged Goods

Tate & Lyle has agreed to acquire the entire issued share capital of CP Kelco, a leading provider of pectin, specialty gums and other nature-based ingredients, from J.M. Huber, for a total implied consideration of US$1.8 billion.

June 22, 2024
Consumer Packaged Goods

In one viral TikTok video, a customer recorded ordering caramel ice cream, but the AI-powered system filled the cup with stacks of butter instead. Another similar video showed the AI adding over a hundred orders of chicken nuggets to an order. A different customer received an ice cream topped with bacon.

June 16, 2024
Consumer Packaged Goods

In addition, the two companies will collaborate on developing and launching new chocolate innovations that combine the signature Biscoff flavour and texture with Mondelēz’s iconic brands like Cadbury and Milka. The first co-branded chocolate products are expected to hit the shelves in the UK and Europe in early 2025.

June 16, 2024
Consumer Packaged Goods

The Biotech Open Platform aims to accelerate precision fermentation development by scaling up lab-tested innovative products and processes. By 2025, the project plans to install a demo-scale production line, including a fermenter and purification equipment, with additional equipment and a second production line to follow.

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