Thailand’s Charoen Pokphand Foods has bought Norfolk Foods, a Sri Lankan value-added food processor.
Through subsidiary CPF Investment Limited (CPFI), CP Foods agreed to acquire 80% of Norfolk for around $4 million. In addition, CPFI has the right to acquire the remaining 20% of the shares.
Norfolk produces ready-to-eat food products such as samosa, processed chicken, meat stuffed with cheese and sausages under Crescent trademark. The company also produces some seafood products, such as fish fingers.
Products are distributed through local distributors, hotels, restaurants and retail shops in Sri Lanka. Its current capacity is 400 metric tons per month with a 21% share in the ready-to-eat food products market in Sri Lanka.
Source: Undercurrent News
Schumacher will replace Alan Jope, who announced his decision to retire last September, less than a year after a failed attempt by Unilever to buy GlaxoSmithKline’s consumer healthcare business and just months after activist investor Nelson Peltz joined the company’s board.
Globally, plant-based ice creams have doubled their share of the market over the last five years, according to Tetra Pack. Pea protein and coconut milk are leading the way, but Tetra Pak cites data showing that oat-based ice cream launches have doubled in the previous year.
A myriad of so-called eco-labels are being rolled out across various F&B products, but with no gold standard or strict rules governing precisely what the logos mean and what methodology is behind them, concerns are growing that they will confuse consumers and ultimately be counterproductive.