Food & Drink

Marfrig acquires BRF’s Quickfood division in Argentina for $55m

December 10, 2018

Marfrig has secured a deal to buy BRF’s Argentinean subsidiary Quickfood for $55 million as aims to grow its value-added product offer. The Brazilian companies also announced that Marfrig will take over the production at BRF’s plant in Várzea Grande, Brazil, to produce beef patties..

Bunge CEO Schroder to step down

December 10, 2018

Global grains trader Bunge Ltd, which has been under pressure from activist investors, said on Monday Chief Executive Officer Soren Schroder would step down. Schroder, who served as CEO since 2013, will continue in his current role until a successor is named, the company said..

Coca-Cola CEO Quincey to take on chairman role in April

December 7, 2018

Coca-Cola Co said on Thursday Chief Executive Officer James Quincey would take on the additional role of chairman next April, when incumbent Muhtar Kent retires after four decades with the world’s largest beverages maker. Kent, 65, held the reins of the company as chief executive..

Orkla offloads its Mrs Cheng’s brand to Continental Foods

December 6, 2018

Orkla Foods Sverige has agreed to sell the Mrs Cheng’s soy sauce brand to Belgium-based Continental Foods for an undisclosed fee. A deal was reached between the two companies on 4 December, and results in the 100% divestment of the Mrs Cheng’s brand, which has..

NZ’s Fonterra cuts forecast milk payout, eyes ice cream business sale

December 6, 2018

Dairy giant Fonterra Co-Operative Group Limited downgraded its forecast milk payment to farmers and said it was looking to sell its ice cream business, as the New Zealand-based firm reels from its first ever financial loss. The Auckland-headquartered company said in a statement on Thursday..

Bunge names Syngenta CEO to board under deal with activist investors

December 6, 2018

Bunge Ltd appointed the chief executive of agrichemicals company Syngenta to its board on Wednesday as part of an agreement with activist investors D.E. Shaw and Continental Grain Co. The global grains trader named J. Erik Fyrwald as a director, as it navigates low crop..

FrieslandCampina to acquire cheese distributor Jana Foods

December 5, 2018

FrieslandCampina has agreed a deal to acquire US-based cheese importer and distributor Jana Foods for an undisclosed sum, strengthening its position in the US speciality cheese market. Jana Foods imports and markets FrieslandCampina’s Dutch cheese products in the US, along with other fine cheeses from..

Fonterra to unwind Australian joint venture with Beingmate

December 5, 2018

Fonterra has reached an agreement with Chinese infant formula firm Beingmate to unwind their joint venture in Darnum, Australia. A spokesperson from the New Zealand dairy company said both firms have reached a provisional agreement with regards to the joint venture. Fonterra acquired an 18%..

Internal feud shakes French sugar group Tereos as markets plunge

December 5, 2018

French cooperative Tereos, the world’s second largest sugar maker, is holding extraordinary elections to its membership council this week which the farmer-owned group hopes will end an internal feud at the debt-laden group already struggling with an industry-wide slump. A sharp fall in sugar prices..

Barry Callebaut, Dutch partners launch sustainable mass-market chocolate

December 4, 2018

Swiss chocolate maker Barry Callebaut on Thursday signed a partnership with Dutch No.1 retailer Albert Heijn to make its private-label chocolate fully traceable from 2019, reflecting consumers’ growing interest in ethical sourcing. From March 2019, Albert Heijn’s private-label brand “Delicata” will be made from fully..