Ferrero has announced a definitive agreement to acquire a controlling stake in Ice Cream Factory Comaker (ICFC), a Spanish ice cream manufacturer.
Headquartered in Valencia, ICFC makes a range of ice cream cones, sticks, tubs, cakes and lollies. The firm is present in more than 15 countries and has more than 700 employees at its two production facilities – in Alzira, Spain, and Castel d’Ario, Italy.
The transaction is expected to be completed in July 2019. The Lamsfus family will remain a shareholder of ICFC and Guillermo Lamsfus Bravo will continue to lead the business as managing director.
Ferrero said as part of its commitment to satisfying consumer needs, it is constantly evaluating new opportunities in different product categories.
The Italy-headquartered firm – owner of brands such as Nutella, Kinder Chocolate and Tic Tac – last month acquired a range of businesses from Kellogg in a deal worth $1.3 billion. Included in the transaction were Kellogg’s cookie, fruit and fruit-flavoured snack, ice cream cone and pie crust businesses.
Last year, Ferrero became the third largest confectioner in the US after acquiring Nestlé’s US confectionery unit for $2.8 billion.
In its financial year ended August 2018, Ferrero posted consolidated turnover of €10.7 billion, up 2.1% on the previous year.
Source: Food Bev
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.