Weekly Roundup: Azelis acquires Austria-based Neupert Specialities, Cargill accelerates green energy targets
03 Dec 2021 --- This week in industry news, Azelis acquired Neupert Specialities to further its organic growth strategy and ADM completed its Sojaprotein acquisition. In sustainability highlights, Cargill and Vattenfall partnered with Dutch-based Windpark Hanze to build a wind farm and Le Pain Quotidien committed to making its egg supply chain cage-free by 2025. Also, agtech company Ÿnsect filled three new recruitment positions.
In brief: Acquisitions
Azelis acquired Neupert Specialities, a company based in Austria, where the market is growing for food and health ingredients. The transaction is consistent with Azelis’ strategy of complementing its organic growth through strategic acquisitions.
ADM completed its acquisition of Sojaprotein, a provider of non-GMO soy ingredients. The addition represents a significant expansion of its global alternative protein capabilities and its ability to meet growing demand for plant-based foods and beverages. Serbia-based Sojaprotein exports into 65 countries supplying customers in the meat alternative, confectionery, pharmaceutical and pet food segments.
Olam International acquired a 10% minority stake with operational responsibility for an equity consideration of SAR49,500,000 (US$132,00,000) for a Saudi flour mill company. The acquisition of one of the flour milling companies tendered for privatization by the National Centre for Privatization and the Saudi Grains Organization has been completed by the consortium, comprising National Agricultural Development Company, Al Rajhi International for Investment Company, Ajlan & Bros and Olam International.
General Mills completed the sale of its 51% controlling interest in its European Yoplait operations. As part of the transaction with Sodiaal which was announced in March, General Mills acquired full ownership of the Canadian Yoplait business. The company will also now operate with a reduced royalty rate for use of the Yoplait and Liberté brands in the US and Canada.
In brief: Sustainability strides
Cargill and Vattenfall partnered with Windpark Hanze in the Netherlands to build a wind farm to reduce CO2 emissions by about 350,000 metric tons a year. The move will provide electricity for more than 95,000 homes in the country annually. The onshore wind farm, consisting of 15 wind turbines, will be commissioned in the Flevoland province. It will have a total installed capacity of 90 megawatts and will go into full commercial operation in 2023.
Olam has completed the 10% share acquisition of a Saudi flour mill.
Engie and BASF signed a 25-year Power Purchase Agreement for renewable energy in Europe. Under the PPA, effective January 2022, Engie will provide BASF with up to 20.7 terawatt hours of renewable electricity, throughout the agreement term. The electricity will initially come from onshore wind farms located in various sites throughout the Spanish territory in which Engie acts as equity investor or energy manager.
Le Pain Quotidien has committed to transform its egg supply to be cage-free by 2025. All stores in Hong Kong, Brazil, Germany, Turkey, the UAE and the US will use only cage-free eggs. The company joins a long list of food companies in production, catering and service which have committed to cage-free including Nestlé, Kraft-Heinz, Greggs and Nando’s. Earlier this week, China set a formal standard for businesses to adhere to using only cage-free eggs.
In brief: Business moves
Cargill completed a US$13 million expansion of its cocoa processing facility in Tema, expanding its cocoa-grinding capability to match growing consumer demands for cocoa powder. The investment took 16 months to complete and increased the plant’s grind capability by 20%, bolstering its annual production to 90,000 metric tons.
Sainsbury’s opened its first checkout-free shop called SmartShop Pick & Go in Holborn Circus, central London. The company’s new till-less shop has been created using Amazon’s “just walk out” technology. Customers will need to scan a QR code using the supermarket’s SmartShop app on their phones, which is connected to the shopper’s debit or credit card. Cameras in store will record the items purchased, and payment is automatically charged to the customer’s account upon leaving the shop.
In brief: Recognition & awards
Carrefour and Danone forged partnerships with national brands, Barilla, Bel, Mars Food, Savencia and Unilever with the support of The Consumer Goods Forum to meet the demand from French consumers seeking better eating habits. In line with the move, recipes rated Nutriscore A or B were published on the company website.
In brief: Appointments & retirements
Mondelēz International appointed Ertharin Cousin, founder, president and CEO of the Food Systems of the Future Institute, to the company's board of directors from January, 2022. Cousin has over 30 years experience in the worldwide food industry, working in the government, nonprofit and corporate sectors.
Symrise extended the contract of executive board member Dr. Heinz-Jürgen Bertram until 2025. With this initiative the company preserves its customary continuity and long-term management approach. Bertram will continue as CEO of Symrise for a further three years and will drive forward the profitable growth course of the group. By 2025 Symrise will set forward the expansion in high-growth business areas and further develop its own base of natural raw materials with targeted investments.
Ÿnsect, an agtech company specializing in natural insect protein production, has filled three new leadership positions. Joining Ÿnsect’s executive committee are Shankar Krishnamoorthy as chief strategy officer, Tina Lawton as chief growth officer and Isabelle Toledano-Koutsouris as chief financial and administrative officer.
By Inga de Jong
