Japanese instant noodle maker Nissin Foods has agreed to buy a 17.27 percent stake in Premier Foods from an existing shareholder, the British company said on Thursday.
The announcement comes a day after Premier said it had rejected two takeover approaches from U.S. spices maker McCormick. McCormick has until April 20 to make a firm offer.
Premier and Nissin are seeking to finalize the terms of a relationship agreement that is conditional on Premier no longer being in an offer period.
By Martinne Geller in London
Source: Reuters
Cécile Béliot has assumed the role of Bel Group chief executive officer, following the decision to separate the roles of chairman and CEO. The separation of the functions will enable Bel Group to develop in three areas of healthy snacking. Meanwhile, the company’s former CEO, Antoine Fiévet, has had his mandate renewed as chairman of the board.
US Food and Drug Administration (FDA) Commissioner Dr. Robert Califf was grilled by lawmakers during a House Appropriations subcommittee hearing, where he was slammed over the agency’s handling of the escalating infant formula shortage.
Sweegen is ramping up its efforts to reduce sugar across F&B applications while simultaneously tapping into the benefits of using antioxidants and bitter blocking technology. Speaking to FoodIngredientsFirst, Casey McCormick, vice president of global innovation at Sweegen, says product developers can find a broad range of solutions in Sweegen’s nature-based sweetener systems as brands elevate better-for-you foods.