Olam International said on Thursday it has acquired Alabama’s biggest peanut sheller, Brooks Peanut Co (Brooks), for an enterprise value of $85 million.
Olam’s purchase of Brooks, which follows its acquisition of U.S.-based peanut sheller McCleskey Mills Inc. in December 2014, further integrates direct farm procurement and shelling for the Singapore-listed firm.
Olam, which counts Singapore state investor Temasek Holdings and Japan’s Mitsubishi Corp as its largest shareholders, is a leading player in a number of commodities including cocoa, coffee and edible nuts.
By Saeed Azhar
Source: Reuters
The Coca-Cola Co. has promoted Evguenia (Jeny) Stoichkova to president of global ventures, effective Jan. 1, 2023. Ms. Stoichkova joined Coca-Cola Bulgaria in 2004 and was most recently the president of the company’s Eurasia & Middle East division, a role she has held since 2021.
US-based Perfect Day, is partnering with Onego Bio, which specializes in creating animal-free eggs, aiming to accelerate the timeline to bring the eggs to the market. The business, with the use of its technology, plans to commercialize animal-free ovalbumin, the most abundant egg white protein extracted through precision fermentation.
Food waste costs the EU €143 billion per year (US$141.7 billion), with a report by Feedback EU raising the alarm of how it’s vital to reduce waste from farm to fork 50% by 2030 and the only way this will be achieved is by enforcing a mandatory directive forcing the food industry to do better and retailers to pay a tax of food waste.
