Associated British Foods (ABF) has reached agreement to acquire Acetum, a leading Italian producer of Balsamic Vinegar of Modena (BVM).
The group said it is one of the best known vinegars in the world, which has been granted European Protected Geographical Indication (PGI) status due to its unique manufacturing tradition and provenance, as well as its high quality. Completion of the deal is subject to antitrust clearance in Germany and Austria.
Acetum’s brands include Mazzetti, which is the leading brand in Germany and Australia, as well as Acetum and Fini. It also produces a range of apple vinegars and other condiments and sells its products to more than 60 countries around the world. In the year ended 31 December 2016, the business generated net sales of €103m.
ABF said it has ambitious plans to grow these brands and the acquisition will broaden its international presence in speciality foods.
Source: NamNews
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.
