Leading Italian dairy and milk group Granarolo has acquired a 60 per cent stake in organic food and vegetable producer Conbio.
The deal enables Granarolo to further increase its strength in the vegetable products market, which grew 240 per cent over the past five years, going from €130 million in 2010 to €318 million in 2015. The market is expected to continue to grow, reaching as much as €600 million by 2020.
Last year, Granarolo launched the “100% Vegetale” range, which achieved a turnover of over €14 million.
Conbio is the fourth largest Italian company in the vegetable-based food market for refrigerated goods, with turnover of almost €12 million in 2015.
The company is a leader in Italy in R&D, with products like spreading creams, burgers, seitan, tofu and tempeh based foods, “ragù” (bolognese sauce), soups and ready-made dishes, all entirely vegetable-based and organic.
Source: European Supermarket Magazine
A cultured meatball containing the extinct mammoth’s myoglobin protein demonstrates the potential power of cell-based meat and was specially developed “to make consumers think about where their food comes from,” according to the chief scientists behind the prehistoric project.
If the proposal is passed by parliament, companies in Italy will not be allowed to produce food or feed “from cell cultures or tissues derived from vertebrate animals,” the bill seen by Reuters stated. A breach of the rules could result in fines of up to €60,000.
Diageo has announced that Sir Ivan Menezes is retiring as chief executive officer and member of the company’s board on 30 June. Menezes will be succeeded by Debra Crew – currently COO at the drinks giant – who will take up the post on 1 July, becoming the company’s first female CEO.
