Business News

Roha strengthens presence in Canada with acquisition of Cambrian Solutions Color Business

23 Oct 2017 --- Continuing to expand on its vision of staying true to local values, Roha is strengthening its presence in Canada by acquiring Cambrian Solutions Inc’s color business. This is the fourth acquisition for Roha this year. In January, Roha announced the acquisition of Italy based Essential SRL, a leading manufacturer of plant- and fruit-based natural coloring and flavoring ingredients. Later in the year, announced the acquisition of the color division from Delta Aromatics of Egypt and most recently, the company announced the acquisition of New Foods Industry S.p.A. near Verona in Italy, an expert in dry ingredients.&

Fermentalg bolsters position by raising capital and issuing new shares

23 Oct 2017 --- French specialist in microalgae Fermentalg is celebrating raising its capital increase by €12.6 million (US$14.8 million) to accelerate its growth in natural food colorings, nutrition and health. The increase will give the company the additional means to finance its development, notably regarding the partnership signed with DIC Corporation.

Fuchs acquires UK-based Bart Ingredients

23 Oct 2017 --- Germany’s largest spice producer, Fuchs Group, has acquired 100 percent of the shares of Bart Ingredients – the second largest herbs and spices company in the UK – for an undisclosed sum. Bart Ingredients, previously owned by private equity firm Langholm Capital LLP, has been transformed significantly with an award-winning brand position, bespoke customer relationships together with enhanced and leading processes.

Campden BRI helps lead research into English wines

23 Oct 2017 --- Campden BRI will help lead research into UK wines following the appointment of Geoff Taylor, Campden BRI’s wines and spirits expert, as chair of the UK Wine Producers research and development group. The group will encourage, assist and support research projects to improve quality, yield, consistency and sustainability within the wine industry.

UK signs up to Dairy Declaration of Rotterdam

20 Oct 2017 --- The UK dairy industry has endorsed a declaration to promote the sustainability of dairy systems around the world. The Dairy Declaration of Rotterdam, a unique partnership between the International Dairy Federation (IDF) and the Food and Agricultural Organization of the United Nations (FAO) signals a recognition of the dairy sector’s commitment towards feeding the world with safe, nutritious and sustainable products.

Olam CEO appointed as WBCSD Chair from 2018

20 Oct 2017 --- The World Business Council for Sustainable Development has announced that Sunny Verghese, Co-Founder and Group Chief Executive Officer of Olam International, has been appointed as the new Chair of WBCSD. Verghese’s term begins on January 1, 2018 for a duration of two years.

Firmenich commits to 100 percent sustainable juice

20 Oct 2017 --- Firmenich has signed the Sustainable Juice Covenant, joining forces with leading European beverage and food companies to commit to creating 100 percent sustainable juice and puree by 2030. Under the coordination of IDH: the Sustainable Trade Initiative, Firmenich, Döhler, FrieslandCampina Riedel, Refresco and Verbruggen Juice Trading Sustainable Products b.v., have agreed to target 100 percent verified sustainable sourcing for their juices within the next decade.

EDA criticizes traffic light labeling plans for ignoring “good” nutrition

19 Oct 2017 --- The European Dairy Association (EDA) has slammed the new traffic lights labeling system claiming that it falls short in certain areas relating to nutrition, dietary recommendations and what to limit in people’s diets. While the EDA believes and supports the fact that consumers should be fully informed on the nutritional properties of foods – which is one of the legal requirement of the Food Information to Consumers Regulation (EU) No 1169/2011 – it says that new Evolved Nutrition Labelling Initiative (ENL) proposals don’t go far enough and is an inadequate system for milk and dairy products. 

Frutarom confirms eighth purchase of 2017: Acquires 60 percent of Mighty Co.

19 Oct 2017 --- Frutarom is continuing its momentum of acquisitions with an eighth purchase this year, by acquiring 60 percent of the shares of the Thai flavors company The Mighty CO. LTD. (including the activity of Maharaj Food Co. Ltd. and Mighty International Co. Ltd.) for approximately THB 393 million (approx. US$12 million) and at a valuation of THB 655 million (approx. US$20 million). 

Nestle reports slight decline in nine-month sales for 2017

19 Oct 2017 --- Total reported sales for Nestlé decreased by 0.4 percent to CHF 65.3 billion (US$66.6 billion), reduced by net divestments of 2.6 percent (mainly due to the creation of the Froneri joint venture) and negative foreign exchange effects of 0.4 percent. Organic growth was 0.8 percent in developed markets and 5.1 percent in emerging markets.

“Leading European fund” Capagro Innovation completes final funding round

19 Oct 2017 --- Capagro Innovation has successfully completed its final funding round – a second funding round worth €66 million (US$77.8 million) – leading the company to state that it has become one of the leading European funds specialized in innovation in agriculture and food. This follows the reopening in January 2017 of the subscription period for its venture capital vehicle, Capagro Innovation.

Fortissimo Capital invests US$4 million in tech seed breeding company Equinom

19 Oct 2017 --- Israeli-based private equity fund Fortissimo Capital has invested US$4 million in Equinom, an Israeli-based technology seed-breeding company focused on the development of specialized crops for the food industry. This has been announced as the first installment of Fortissimo's investment as part of the third funding round of Equinom.

Emerging markets drive sales growth by 6.3 percent in Q3 for Unilever

19 Oct 2017 --- Unilever has announced its results for the third quarter of 2017, which show emerging markets driving growth and good progress against the strategic objectives the company set out for 2020. Turnover increased by 3.1 percent in the first nine months, including a negative currency impact of 0.6 percent. Turnover decreased by 1.6 percent, including a negative currency impact of 5.1 percent. Underlying sales growth was 2.6 percent, with price up 2.4 percent and volume up 0.2 percent and emerging markets underlying sales growth was 6.3 percent in Q3, with volume up 1.8 percent. 

BASF steps up sustainable palm oil commitment by joining FONAP

19 Oct 2017 --- BASF has joined the Forum for Sustainable Palm Oil (FONAP) as a producer of oleo derivatives and claims that becoming an official supporter signals the company’s intent on fostering sustainable oil palm products. 

IFF: Re-Imagine Programs accelerate innovation and tap into unmet consumer opportunities

19 Oct 2017 --- Innovator of sensory experiences, International Flavors & Fragrances Inc. (IFF), has launched Re-Imagine programs to accelerate innovation and increase agility to capture unmet opportunities in the changing food and beverage market. Based on a combination of future trends analysis, consumer insights, and a modernized cross-category development process, the programs guide the company’s research and development efforts to ensure an innovation pipeline that addresses evolving consumer needs and desires.

US$1bn fund to boost sustainable farming launched by Rabobank and UN Environment

18 Oct 2017 --- A new initiative is underway to help farmers transition to sustainable practices to keep pace with increasing demand from consumers and food companies for more supply chain transparency. Rabobank’s program, Kickstart Food, is all about accelerating the transition to a sustainable food supply. One of the first steps in this program will be the launch of a one billion dollar facility to initiate land restoration and forest protection initiatives.

Barry Callebaut: Forever Chocolate shortlisted for Responsible Business Awards 2017

18 Oct 2017 --- Forever Chocolate has been shortlisted in the category Sustainable Business Communication of the Year of the Responsible Business Awards, which, in turn, is great recognition for Barry Callebaut’s Forever Chocolate strategy. 

Ajinomoto buys majority stake in Spanish agro-business

18 Oct 2017 --- Japanese food and chemical corporation Ajinomoto has acquired the majority shares of a Spanish agro-business, expanding its profile in Europe.

Ornua seeks graduates to bring the taste of Irish dairy to the world

18 Oct 2017 --- Ornua, the owner of Ireland’s iconic dairy brand, Kerrygold, is looking for graduates to join their team at the home of Irish dairy. Ornua’s industry-leading graduate programme is open for applications until October 19th, 2017. With opportunities across the business, from Information and Communication Technology to HR and Sales and Marketing to Supply Chain Management and more, Ornua is looking for a new group of graduates to help bring the unique taste of Irish dairy to customers across the globe. 

Hershey eyes Nestle's US confectionery business as potential bidders line up

17 Oct 2017 --- Four months after Nestlé began to explore options for its US confectionery business, including a potential sale, the company is drawing interest from a range of possible buyers including Hershey’s, which is reportedly preparing a bid. According to US media reports, the chocolate giant is expected to compete against other companies and private equity firms and the first-round bids for the Nestlé business are due later this week.