Saudi Arabia’s Almarai wants to buy a controlling stake in the UAE’s National Food Products Co (NFPC), the Riyadh-listed firm said on Sunday.
NFPC has invited Almarai, the Gulf’s largest dairy company, to conduct due diligence as part of a competitive sales process, according to a statement to Riyadh’s bourse.
In December, Reuters reported that Almarai was one of several companies to have shown an interest in NFPC, citing sources.
NFPC is one of the largest food and dairy manufacturers and distributors in the United Arab Emirates (UAE) and markets brands including Milco, Lacnor and Oasis bottled water.
Danone has appointed three deputy CEOs to “better connect categories and regions” and drive the delivery of its ‘Renew Danone’ strategy. The new appointees are Veronique Penchienati-Bosetta, Shane Grant and Juergen Esser. They will report to Danone CEO Antoine de Saint-Affrique.
PepsiCo Portugal has announced that it will invest €7.5 million to construct a new biodigester, which will turn organic waste into biogas. As well as helping its Carregado facility to achieve a 30% reduction in carbon emissions, the biodigester will also contribute to reducing gas consumption, allowing the installation to use the biogas produced during the anaerobic digestion process.
Kerry is sponsoring The Kerry Upcycled Food Foundation Fellowship in a new partnership with the Upcycled Food Foundation (UFF), the non-profit subsidiary of the Upcycled Food Association (UFA). The research fellowship is the second initiated by the UFF and will work toward advancing the understanding of the market, consumer perception and technical opportunities of upcycled food.