(RTTNews) – Dairy Crest Monday said it has purchased the outstanding 50 percent share of Promovita Ingredients Limited held by Fayrefield Foods Limited for a cash consideration of 6 million pounds, funded from existing borrowing facilities.
Promovita was established in 2014 as a 50/50 joint venture between Dairy Crest and Fayrefield to develop and produce GOS, a prebiotic for use in infant formula.
After investing in the manufacturing capability at Davidstow and successfully producing GOS samples, Dairy Crest now believes that full ownership of Promovita is in its and shareholders’ best interests. It allows Dairy Crest sole control over the development of the GOS business and to fully benefit from the value that this business generates, the firm said.
Premier Protein owner BellRing Brands has appointed Michael Axelrod as its next president and chief executive officer, effective 29 July 2026. Axelrod will also join the company’s board of directors. He succeeds Darcy Davenport, who announced her intention to retire earlier this year.
Carlsberg Group has entered into an agreement with Sapporo Breweries, forming a major joint venture across Southeast Asia and Hong Kong, and partnership in the UK. The joint venture builds on Carlsberg and Sapporo’s existing relationship, having collaborated on the sale of Sapporo Premium Beer in Malaysia, Hong Kong and Singapore since 2024.
Nestlé will invest CHF563 million (US$688 million) to build a new AI-enabled Nescafé production and distribution hub in Samut Prakan, Thailand, expected to open in late 2028. The facility will make soluble coffee, coffee mixes, and RTD coffee, with a reported capacity of 170,000 metric tons per year and more than 520 new technical jobs.
