Sector News

Dairy Crest takes full ownership of galacto-oligosaccharide business

December 22, 2015
Food & Drink

(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.

comments closed

Related News

January 22, 2023

Danone unveils plan to cut methane emissions

Food & Drink

The company expects to eliminate 1.2 billion tons carbon dioxide equivalent of methane emissions by the end of the decade. The company says that it already reduced its methane emissions by around 14% between 2018 and 2020.

January 22, 2023

US researchers land US$2.4M to turn food waste into “affordable” bioplastics

Food & Drink

The “first-of-its-kind” pilot project will develop and demonstrate an affordable modular bioprocessing system to produce biodegradable bioplastics from food waste diverted from landfills. The three-year grant will test the scalability and feasibility of the conversion on a national and global scale.

January 22, 2023

Arkeon partners with ICL to transform CO2 into proteins

Food & Drink

Arkeon is allying with specialty mineral giant ICL to support the scaling of its fermentation bioprocess that converts CO2 into the 20 proteinogenic essential amino acids needed in human nutrition. The process, hailed as carbon negative, is based on the use of archaea, a group of microorganisms that naturally feeds off the greenhouse gas.

How can we help you?

We're easy to reach