Business News

Novozymes Posts “Positive” Q1 Results with Sales and Earnings “On Track”

26 Apr 2017 --- Denmark-based biotechnology company Novozymes has reported overall positive Q1 results with a 3% organic sales growth mainly driven by food & beverages and bioenergy. The company reports that sales and earnings are on track with this “good start to 2017” which has also seen solid progress on Novozymes strategic priorities. 

Duas Rodas Invests US$7 Million in Chilean Plant

26 Apr 2017 --- Duas Rodas, a key international company in the manufacture of aromas and ingredients for the food and beverage industries is set to inaugurate new facilities for its factory in Chile. The investment of more than US$7 million is part of the strategy of consolidation and expansion of the Brazilian multinational in the Latin American market.

NIZO Partners on Center of Excellence for Product & Process Modeling

26 Apr 2017 --- At yesterday’s Advanced Process Modelling Forum Process Systems Enterprise (PSE), the Advanced Process Modelling company, and NIZO, the world’s leading food & nutrition contract research organization, announced the formation of the Center of Excellence (CoE) for Food Product and Process Modelling.

Nestlé to Cut 300 UK Jobs and Move Blue Riband to Poland

26 Apr 2017 --- Nestlé UK is informing employees of proposals to make some changes to the factory operations within its UK confectionery business. These proposals span four different sites: York, Fawdon, Halifax and Girvan and may result in a reduction of 298 roles, predominantly at York and Fawdon, through 2017 and 2018. The company expects that these would be achieved through voluntary redundancies.

Dean Foods' Mayfield Creamery Brand Expands

26 Apr 2017 --- Dean Foods has announced that its iconic Mayfield Creamery ice cream brand is expanding further across the southern U.S. to a collection of new markets in Texas, Oklahoma, Arizona and New Mexico. Mayfield Ice Cream debuted in 1923, and can currently be found in grocery stores across the southeast in Tennessee, Georgia, Alabama, North Carolina, South Carolina, Florida, Virginia, Mississippi, West Virginia, Kentucky and Louisiana.

PPG Industries Sweetens Offer for AkzoNobel to $29 Billion

25 Apr 2017 --- PPG has submitted a third takeover offer for a combination with the Dutch paint and chemicals firm Akzo Nobel N.V. The comprehensive proposal letter, which was provided to Messrs. Antony Burgmans, Chairman of the Supervisory Board and Ton Büchner, Chief Executive Officer and Chairman of the Board of Management, detailed PPG’s increased price of €96.75 (cum dividend) per outstanding ordinary share of AkzoNobel, comprised of cash of €61.50 and 0.357 shares of PPG common stock. Including the assumption of net debt and minority interests, the proposed transaction is now valued at approximately €26.9 billion, or $28.8 billion.

Flat Bakery Segment Bites into Corbion’s Q1 Results

25 Apr 2017 --- Corbion has reported sales of €229.9 million (US$250.3 million) in the first quarter of 2017, an increase of just 0.7%, with the bakery segment falling short of expectations. And this will impact future financial results for 2017 with the company claiming that the losses in Bakery will dampen growth.

Britvic Boosts Subway’s Low and No Sugar Drinks Initiative at UK Hospital Stores

25 Apr 2017 --- As part of an initiative to cut down on the amount of sugary drinks sold at hospital-based franchises, Subway has announced its 12 NHS stores in the UK have met the relevant criteria relating to food and drink sold on NHS premises for 2016/17.

Hershey Cutting Calories in Classic Chocolate Bars

24 Apr 2017 --- US Chocolate giant Hershey has pledged that all of its standard and king-size confectionary range will come complete with easy-to-read front-of-pack labels which show the amount of calories by the end of next year. And half of all Hershey standard and king-size confections will be 200 calories or less by 2022, as part of the company’s “smart snacking promise”.

Special Report: An Industry Update on Sugar Taxes

24 Apr 2017 --- The soft drinks industry at large has been facing the sugar tax challenge for several years now against a backdrop of consumer demand for reduced-sugar products and increasing calls for governments to legislate on the issue. Reformulating a much-loved product by removing or replacing the sugar, while maintaining the familiar taste is a challenge for most companies. But that has not stopped the majority of key players from adding a wealth of no- or low-sugar lines to their portfolios.

Bunge Acquires Argentine Edible Oil Company

24 Apr 2017 --- Bunge Southern Cone and Aceitera Martínez S.A. have entered into an agreement to transfer all of Aceitera Martínez’s assets to Bunge. A family-run business for more than 60 years, Aceitera Martínez specializes in the production and packaging of edible oils, including sunflower and soybean oil. 

Campylobacter, Salmonella Led US Bacterial Foodborne Illnesses in 2016

24 Apr 2017 --- Campylobacter and Salmonella caused the most reported bacterial foodborne illnesses in 2016, according to preliminary data published in CDC’s Morbidity and Mortality Weekly Report. CDC’s Foodborne Diseases Active Surveillance Network (FoodNet) report provides the most up-to-date information about foodborne illnesses in the United States.

Monsanto Completes $50 Million Plant Expansion in Muscatine

24 Apr 2017 --- Monsanto has completed a $50 million expansion at its Muscatine, Iowa plant. The expansion provides increases the formulations and packaging capacity at the plant to support the launch of Monsanto’s dicamba-tolerant trait technologies.

Slow Dairy Sales Diminish Q1 Growth for Danone

21 Apr 2017 --- Hot off the heels of completing its acquisition of WhiteWave, Danone has posted its sales for the first quarter which show a slowdown in Europe and Brazil. The French multinational says it has been a “slow start to the year”, although this was in line with expectations.

Tate & Lyle Leads US$8 Million Investment in Chickpea Innovator Nutriati

21 Apr 2017 --- Nutriati, a food technology company focused on the research, development and commercialization of innovative plant-based food ingredients, announced that it has closed on an US $8.0 million investment round. The investment round was led by London-based Tate & Lyle Ventures, which invests in expansion-stage companies in food sciences and enabling technologies in line with Tate & Lyle PLC’s strategy to grow in specialty food ingredients, and Powerplant Ventures, a Los Angeles-based venture firm that invests in visionary companies that leverage the power of plants to deliver better nutrition in more sustainable and ethical ways. 

Unilever Snaps Up NY Condiment Maker

21 Apr 2017 --- A day after posting solid Q1 results, Unilever has announced it has signed an agreement to acquire Sir Kensington’s, a New York-based condiment maker, although the terms of the deal have not yet been disclosed.
Considered a pioneer and leader in condiments for organic and natural markets, Sir Kensington’s has shown strong growth since starting out in 2010 and has a range of award-winning products including mustard, ketchup, mayonnaise and a ground-breaking vegan mayo, Fabanaise, which is made from aquafaba.

AAK Proud of “All-Time High” Operating Profit for Q1

21 Apr 2017 --- Swedish-Danish company and producer of vegetable oils and fats AAK has reported an all-time high operating profit for the first quarter 2017 which reached SEK 431 million (US$48 million), up 13% on last year. The company says how total volumes continued to grow and were 10% up, while organic volume growth was 5%, against a backdrop of strong demand for speciality and semi-speciality products which also generated a volume growth of 6%.

Golden Peanut and Tree Nuts to Upgrade, Modernize Argentina Plant

21 Apr 2017 --- Golden Peanut and Tree Nuts, a subsidiary of Archer Daniels Midland Company (ADM) has announced that it is investing in a significant upgrade to its peanut processing facility in Alejandro Roca, Cordoba, Argentina. The upgrade plans include the addition of an in-house blancher and the construction of a cold storage warehouse. 

Changing Consumer Tastes Takes A Bite Out of Nestlé Profits

20 Apr 2017 --- Amid changing consumer tastes, Swiss food giant Nestlé has achieved its modest 2-4% growth target for three-month sales for 2017 as weak consumer demand impacts packaged foods in North America and weak prices in Western European markets affect growth. Nestlé says sales increased by 0.4% on a reported basis to CHF 21.0 billion (US$21 billion), while organic growth was solid at 2.3%, with 1.3% of real internal growth (RIG) and pricing of 1.0%.

Sugar Sweetens Associated British Foods Profits

20 Apr 2017 --- Associated British Foods (ABF) has published its interim first-half results which sees pre-tax profits at the food and fashion group jump to £624 million (US$800 million) by 35% in the 24 weeks to March 4. And revenues at the British multinational food processing and retailing company went up by 19% to £7.3 billion (US$9.3 billion).