(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.
Barry Callebaut has named Natasha Chen president of its North American division, effective Sept. 16. She will succeed Ben De Schryver, who will leave Barry Callebaut to “pursue other opportunities,” the company said. In her new role, Chen will manage the company’s North American business in the United States, Mexico and Canada.
Global snacking company Pladis has opened a new headquarters in Jeddah, Saudi Arabia. The site marks a milestone in Pladis’ strategic growth and expansion in the Middle East, North Africa and India (MENAI) region.
Located in the Zahran Business Center in Jeddah, the new office is equipped with new technology and was designed with a focus on sustainability.
Ferrero has announced the official European launch of a plant-based version of its iconic global hazelnut spread, Nutella. Beginning its roll-out with select European markets in autumn 2024, the new plant-based Nutella will soon be available to consumers in local supermarkets in a 350g jar.
