Ajinomoto has bought an additional 50% stake in Turkish food company Kükre for TRY 181 million ($51.7 million), becoming the sole owner.
In 2013, Ajinomoto acquired a 50% stake in Kükre and it has been strengthening its existing business in Turkey and expanding into new areas of food. The Japanese company now aims to strengthen its operations in the Middle East on the back of the deal.
As a result of steady growth in sales of vinegar and fruit sauces as well as enhanced initiatives for growing retail chains since 2013, net sales of Kükre in 2016 were approximately TRY 70 million ($20 million), nearly doubling from 2014.
Earlier this year Ajinomoto acquired all shares of Turkish Food company Örgen, as it further enhances its presence in the country. The Ajinomoto Group now intends to strengthen cooperation between Ajinomoto Istanbul Food Sales, Kükre and Örgen.
Ajinomoto announced in March that it would invest $15 million in Israeli plant-based protein company Hinoman.
Source: Foodbev.com
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.
