Business News

Emmi Buys Dessert Specialist Italian Fresh Foods

18 Jan 2017 --- Emmi has hailed the strategic importance of its dessert portfolio following the purchase of premium dessert specialist Italian Fresh Foods (IFF). Urs Riedener, CEO of Emmi, said: “Italian Fresh Foods is an agile, innovative manufacturer of high-quality Italian desserts. The product portfolio suits Emmi extremely well and strengthens a segment that is strategically important for the company.”

Givaudan Strengthens Capabilities in Natural Flavors, Acquires Activ International

18 Jan 2017 --- As part of its 2020 strategy to strengthen capabilities in natural flavor solutions to its customers, Givaudan have announced that it has acquired Activ International. Activ International offers a range of natural and organic flavors, marine extracts, seafood and vegetable based culinary solutions to customers. With headquarters in Bienne (Switzerland), Activ operates from locations in Somerset (New Jersey, USA), Melaka (Malaysia), Mitry-Mory (Paris, France) and Arequipa (Peru), employing globally 170 employees.

Roha’s Latest Acquisition is Paving The Way into Natural Extracts

17 Jan 2017 --- Roha, one of the leading global manufacturers and marketers in the food colours segment, has announced the acquisition of Italy based Essential SRL, a leading manufacturer of Plant and Fruits based natural coloring and flavoring ingredients. 

“Hard Brexit” Speech from Britain’s PM Prompts Concern from Irish Food Industry and Expected Market Volatility

17 Jan 2017 --- The markets are expected for a volatile day and the Irish food and drink industry has made a plea to protect its businesses ahead of a speech today by Britain’s prime minister Theresa May, which is expected to underscore the government’s commitment to a “hard Brexit” and the exiting of the European single market and customs union.

Fyffes Shareholders Approve Sumitomo Takeover

17 Jan 2017 --- The shareholders of multinational fruit company Fyffes have backed the proposed €751 million (US$796 million) takeover from Japan-based Sumitomo Corporation during discussions held in Dublin yesterday (January 16).

Profits Surge at Nordzucker Ahead of Removal of EU Sugar Quotas

16 Jan 2017 --- More stable markets, cost-cutting and greater volume sales sent nine-month profits surging from €0.4m ($0.42m) to €81.7m ($87m) at Europe’s second biggest sugar producer. Germany’s Nordzucker group reported revenues of €1.3bn ($1.4m), up nine percent on the year, in the nine months to 30 November 2016.

China Takes on New Strategy on Reducing Food Waste

16 Jan 2017 --- China is beginning to make moves in the anti-food waste space with a new focus on cutting wasteful ways in industry, across the supply chain and in the home. According to campaign group Sustain, the country is finally starting to recognize its food waste problem, which is magnified because of China’s 1.4 billion population. 

Kellogg Company Names Fareed Khan As CFO

16 Jan 2017 --- Kellogg Company have announced that Fareed Khan will join the company effective February 17, 2017 and will be named as Chief Financial Officer (CFO) and Principal Financial Officer the day after the Company's 10-K is filed. Khan will succeed current CFO Ron Dissinger, who will remain with the company in 2017 to ensure an orderly transition. 

Irish Agri-Food and Drink Exports Weather Brexit to Report Record Figures

13 Jan 2017 --- The Irish agri-food and drink economy has weathered uncertainty around Brexit to report that exports eclipsed €11bn ($11.7bn) for the first time in 2016. Increased exports to North America and China offset a plunge in trade with the UK in 2016 triggered by Brexit, according to figures from the Irish food board.

CHS Experiencing Down Cycle and Earnings Decline

13 Jan 2017 --- Farmer-owned cooperative and global energy grains and foods company CHS has reported a 22 percent decline in earnings for September to November 2016 compared with the previous year - but a net income of US$209.2 million for the first quarter of fiscal 2017.

Global Food Prices Fall for Fifth Consecutive Year

13 Jan 2017 --- For five years in a row the prices of major food commodities have declined, according to the FAO Price Index. And ‘economic uncertainties’ like unstable exchange rates are expected to influence food markets even more during the coming year, says FAO senior economist Abdolreza Abbassian.

Cargill Reports Earnings up 80 Percent Year-on-Year as all Four Segments Make Gains

13 Jan 2017 --- Cargill have reported financial results for the fiscal 2017 second quarter and first half ended Nov. 30, 2016. Key measures include:

Danone Deepens Commitment to "Circular Economy"

13 Jan 2017 --- Danone and the Ellen MacArthur Foundation have announced a partnership aimed at accelerating the global transition to a circular economy. For decades, conventional supply chains have been linear; taking, making and disposing of resources often to landfill. With the global population set to reach nine billion by 2050, access to quality food and water is becoming an increasing challenge. 

Can We Produce a Better Wheat Crop to Feed the World?

13 Jan 2017 --- Entering a ‘wheat pan-genomics’ era from single to multiple wheat DNA references, the Earlham Institute (EI) aims to diversify one of the world’s most complex genomes to improve yield quality and increase wider production of this critical food crop.

Kellogg Spearheads Multi-Million Dollar Investment in Californian Superfood Startup

12 Jan 2017 --- Kellogg is banking on a startup which sells superfood bars and herbal teas being a success of tomorrow. Kellogg has spearheaded a $4.25m funding in Kuli Kuli, the California-based startup whose superfood bars are all moringa-based products. Moringa is a plant protein which includes all nine essential amino acids. It was discovered by Kuli Kuli founder Lisa Curtis who discovered it while volunteering with the Peace Corps in Niger, West Africa. Kuli Kuli products are now sold in more than 3,000 stores and national retailers in the US.

Ingredients Help Revenues Rise at ABF

12 Jan 2017 --- Good revenue growth at its ingredients unit helped Associated British Foods report revenues 10 percent ahead of last year in the 16 weeks to January, according to its trading update. ABF Ingredients (ABFI) unit includes a number of ingredients companies including AB Enzymes, which develops enzymes for food and drink applications and PGP International which specializes in cereal and protein crisps and rice based flours & blends.

Ornua Nutrition Ingredients Partners with New Zealand Brand EasiYo

12 Jan 2017 --- Homemade fresh yogurt brand EasiYo has teamed up with Ornua’s UK-based nutritional ingredients business, Ornua Nutrition Ingredients (ONI) to officially enter into a supply partnership which will see ONI blend and pack Irish dairy powders into the range.

Corbion to Showcase Improved Listeria Control Tool, Fortifies Commitment to Meat Industry

12 Jan 2017 --- Corbion will unveil a newly enhanced BETA version of the Listeria Control Model and let attendees taste-test both proven and prototype solutions for food safety and shelf life extension.

Glatt Ingenieurtechnik Continues to Grow in Dresden

12 Jan 2017 --- Glatt Ingenieurtechnik GmbH has doubled the number of employees in its Dresden branch in just one year. After a successful first year, the Dresden subsidiary of the engineering expert Glatt Ingenieurtechnik is planning further hires for 2017. The engineers operate in a specialist segment, which only master few: the engineering of plants for the production of pharmaceutical and biotechnological active substances – including turnkey factories – for vaccines, anti-cancer drugs, anti-diabetes medicine, and processing of blood plasma into therapeutics.

Q1 Profits Jump 21 Percent to $50m at Chr. Hansen

11 Jan 2017 --- Profits in Q1 were up 21 percent on the year to €47m ($50m) at Chr. Hansen driven by organic growth across its Food Cultures & Enzymes and Natural Colors divisions but the performance of its Health & Nutrition division is falling short of expectations. The Danish developer of natural ingredient solutions for the food and agricultural industries reported that its revenues were up 13 percent to €241.7m ($255m) between September 1 and November 30.