Grain trader Archer Daniels Midland Co has sold its palm business in Brazil to local player Reflorestadora Moju Acará, according to the Brazilian antitrust watchdog Cade.
Cade, which gave the nod to ADM’s deal, said on the official gazette that the sale was part of a broader global portfolio review by the global trader. The deal value has not been disclosed.
ADM’s businesses in Brazil also include soy, corn, wheat and cotton.
By Luciano Costa
Local industry stakeholders under Food Drink Ireland (FDI) have called for targeted support measures in the sector that will help businesses stay buoyant during the transitional period.
Diageo has announced that the company’s CFO Kathryn Mikells will leave the business later this year and will be replaced by Lavanya Chandrashekar.
Schlosberg – who has resigned his positions as president, CFO, COO and secretary of Monster Beverage – will serve as co-CEO alongside Rodney C. Sacks.