Aspen Pharmacare, Africa’s biggest generic drugmaker, said on Thursday it will sell its global infant formula business to French dairy group Lactalis for 12.9 billion rand ($864.46 million), as it seeks to cash in on growing demand for baby milk.
The business sells infant milk formula in the Asia-Pacific, Sub-Saharan Africa and Latin America, and has a growing presence in the Middle East and China. ($1 = 14.9226 rand)
By Nqobile Dludla
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.