AB InBev-owned Grupo Modelo will invest nearly MXN 14 billion ($754 million) to construct a new bottling plant in the Mexican state of Hidalgo, Reuters reports.
The Mexican beer producer, which owns brands such as Corona and Victoria, will build the site in the city of Apan, with production estimated to begin in early 2019.
Construction will start this year and, when complete, the plant will have an initial annual capacity of 12 million hectoliters, which will eventually be doubled.
Forbes reported that that the facility will create at least 1,200 direct jobs, creating the world’s second-largest brewery.
Founded in 1925, Grupo Modelo has 16 brands and a presence in 180 countries. The group merged with AB InBev in 2012.
In 2015 it announced the $182.7 million construction of a new aluminium can production facility in eastern Mexico.
Source: FoodBev
Paine Schwartz Partners has closed on a Paine Schwartz Food Chain Fund VI, L.P. at $1.7 billion. The fund is aimed at investing in the food and agribusiness value chain. The company has invested about 40% of Fund VI in AgroFresh Solutions, Costa Group, Elemental Enzymes, HGS BioScience and Monterey Mushrooms.
After 26 years in Geneva, Switzerland, the decision to move has been made after visitor and exhibitor feedback, as well as growth plans for the Vitafoods brand. Vitafoods Europe 2025 will be held on 20-22 May 2025 at Fira Barcelona, with more details to be announced next year.
The traditional symbol of family reunion and cultural pastry of Asia is undergoing a reinvention. With the majority of young consumers in Asia expressing an increasing interest in healthier options, a growing market for mooncakes tailored to dietary preferences and restrictions is opening up across the globe.
