PepsiCo Inc has bid to acquire Brazilian dairy company Fábrica de Produtos Alimentícios Vigor SA, according to reports published in two Brazilian newspapers on Wednesday.
Valor Econômico cited unnamed industry sources in reporting that U.S.-based PepsiCo had made two bids, the second of which was about 6 billion reais ($1.9 billion). It said the current owner, J&F Investimentos Ltda, had not agreed on the value of a deal.
J&F, which also owns meatpacker JBS SA and wood pulp producer Eldorado Brasil Celulose SA, has sought competing bids from other companies such as French Group Lactalis, the controlling owner of Parmalat (PLT.MI), according to Valor.
Newspaper O Estado de S. Paulo reported Mexico’s Grupo Lala SAB also had eyed the possible acquisition.
PepsiCo told Reuters in an email that it did not comment on rumors or speculation. Representatives for J&F, Lactalis and Lala did not immediately respond to requests for comment.
By Ana Mano
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.