Nestle SA said Friday that it has acquired a majority interest in organic plant-based foods and snack company Terrafertil.
Nestle said the move widens its presence in Latin America, the United States and the United Kingdom. No financial details of the transaction have been made available.
Terrafertil employs 400 people and has four factories in Ecuador, Mexico, Colombia and Chile. It was founded in 2005 and is managed by three founding brothers.
The transaction includes all of Terrafertil’s operations and assets in the seven countries where it operates. Nestle said that Terrafertil will continue to be managed by its founders and will operate as a stand-alone entity.
By Anthony Shevlin
Source: MarketWatch
Carlsberg has announced the departure of its chief financial officer (CFO), Heine Dalsgaard, after six years in the position. In a statement, Carlsberg said that Dalsgaard was resigning from the post to take up the role of CFO at a private equity-backed company in a different industry.
Kellogg will split into three independent companies to focus on the snack business, Reuters reported Tuesday. The snacking portfolio will comprise the main business, while the North America cereal unit and the plant-based business will be spun off. The company is also considering a sale of the plant-based business.
The snacks giant says the acquisition will help build on its commitment to “lead the future of snacking” in key geographies worldwide. Once the transaction is completed, Mondelēz will continue to operate the Clif Bar business from its headquarters in Emeryville, California. The snack giant will also continue to manufacture Clif Bars’ products, which include Clif Bar, Luna and Clif Kid, at its facilities in Idaho and Indiana.
