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
Cécile Béliot has assumed the role of Bel Group chief executive officer, following the decision to separate the roles of chairman and CEO. The separation of the functions will enable Bel Group to develop in three areas of healthy snacking. Meanwhile, the company’s former CEO, Antoine Fiévet, has had his mandate renewed as chairman of the board.
US Food and Drug Administration (FDA) Commissioner Dr. Robert Califf was grilled by lawmakers during a House Appropriations subcommittee hearing, where he was slammed over the agency’s handling of the escalating infant formula shortage.
Sweegen is ramping up its efforts to reduce sugar across F&B applications while simultaneously tapping into the benefits of using antioxidants and bitter blocking technology. Speaking to FoodIngredientsFirst, Casey McCormick, vice president of global innovation at Sweegen, says product developers can find a broad range of solutions in Sweegen’s nature-based sweetener systems as brands elevate better-for-you foods.