Agricultural commodities trader Bunge Ltd said on Tuesday it would buy a 70 percent stake in IOI Loders Croklaan from Malaysian palm oil producer IOI Corp Berhad for $946 million.
IOI Loders’ portfolio includes palm and tropical oil-derived products.
The deal is expected to close in the next 12 months and IOI Loders will retain its brand and operate as part of Bunge’s food & ingredients business, Bunge said.
By John Benny
Source: Reuters
General Mills has sold its US yogurt business to French dairy giant Lactalis, officially exiting the US yogurt market. The move marks a strategic pivot for the US food giant, which aims to sharpen its focus on higher-growth categories like snacks, pet food, and ice cream.
The US-based food producer entered into a restructuring support agreement with a group of lenders who hold a portion of its term loan debt. The agreement outlines a plan to run a “going-concern” sale, allowing the company to continue operations during the process.
Roelofs joined Refresco in 2007 and oversaw major expansion. The company now operates 75 manufacturing sites in 13 countries and employs over 14,000 people. During his tenure, Refresco grew from a regional player to a global leader in beverage solutions.
