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Palm oil firm Boustead warns of difficult fourth quarter ahead

Malaysian palm oil producer Boustead Plantations Bhd reported a rise in profit for the third quarter thanks to gains from land sales, but warned of a more difficult outlook for the last quarter of the ear.

Boustead Financial Results

Sime Darby posts record quarterly profit

Malaysian palm oil producer Sime Darby posted a set of strong financial results, with earnings for the first quarter reaching record high.
Sime Darby Financial Results

Oceana delays final dividends due to profits drop

The producer of Lucky Star canned pilchard, Oceana, saw its revenue decrease by 15% to ZAR6.8 billion (USD482 million) and operating profit before other operating items decreased by 39% to ZAR1 bln in the financial year ending on September 30 2017. Canned sales decreased 16% in volume compared to last year’s.

South Africa International

Bumper Australian wheat crop boosts GrainCorp’s results

Australia's GrainCorp Ltd reported a strong set of full-year results today on the back of a bumper 2017 wheat crop.

GrainCorp Financial Results

Olam sees strong growth in profit

Olam International has reported a 17.5% growth in profit after tax and minority interest (PATMI) in the third quarter of 2017 on strong volumes.

Financial Results Markets

US juice decline hits Lassonde's figures

Canadian fruit juice producer Lassonde has posted lower sales for the third quarter than it did in Q3 last year.

Beverages Financial Results
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Investments

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Orkla acquires Czech frozen vegetables processor

Norwegian food processor Orkla has signed a deal to acquire Agrimex, a leading frozen vegetable producer in the Czech Republic, through its subsidiary Hamé, for an undisclosed sum. 

Operations Frozen Foods

House of Flavors upgrades production plant

The US ice-cream maker House of Flavors Inc has spent USD30 million on improvements to its facility in Ludington (Michigan), The Michigan Economic Development Corporation (Medc) stated in a press release. 

Frozen Foods Investments

Trident Seafood to share processing plants

The Alaskan fishing company Aleutian Pribilof Island Community Development Association (APICDA) will share ownership of two of its processing facilities with the seafood company Trident, both parties announced yesterday in a press release. 

US States Europe

Egyptian juice and dairy firm secures loan

The European bank for Reconstruction and Development (EBRD) has granted a long-term loan of up to USD44 million to Egypt’s International Company for Agricultural Industries Projects (Beyti).

Beverages Egypt

Nutricane Beverages looks to expand in India

Food and beverages startup Nutricane Beverages aims to have a presence at nearly 10,000 retail outlets in India with its patented processed sugarcane beverage.

Beverages Investments

Beechdean completes acquisition of Lovingtons

Beechdean Group has announced that it has purchased the remaining 50% shares of Lovingtons Ice Cream.

Ice Cream Operations
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M & A

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Refresco and PAI agree public offer date

Juice and soft drinks giant Refresco, and the consortium consisting of PAI Partners SAS and British Columbia Investment Management Corporation (BCIMC) acting jointly through Sunshine Investments have issued a joint statement relating to the conditional agreement for a public offer by the Consortium for all the issued and outstanding ordinary shares of Refresco at an offer price of EUR20 (USD23.47) in cash per share.

M&A Beverages

Wilmar buys palm oil refinery from Cargill

Singapore-based Wilmar International has agreed to buy Cargill’s edible oil facilities in Kuantan, Malaysia, for an undisclosed sum.

Cargill Wilmar International

Riedel moves into its new ownership

FrieslandCampina has completed its disposal of fresh fruit and fruit juices company Riedel. Dutch investment company Standard Investment took over the shares and the activities of Riedel on November 10.

Netherlands Beverages

Vegetable processor buys German distributor

The Dutch Neerlands Glorie, holding of the vegetable and fruit processor Hak, has acquired 51% of the stake in the German distributor Foodeko, as IEG Vu confirmed yesterday with the sales organisation. The price of the purchase is undisclosed. 

Europe Germany

Investors home in on Vinamilk and Australian dairy business

Food industry investors have snapped up a stake in Vietnam's leading dairy company. And an Australian dairy operation has been bought by a Chinese consortium.
M&A Dairy Products

Beechdean completes acquisition of Lovingtons

Beechdean Group has announced that it has purchased the remaining 50% shares of Lovingtons Ice Cream.

Ice Cream Operations
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Operations Explore this Topic

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California Prune Board highlights achievements in 2017

The California Prune Board (CPB) held a celebratory dinner at the legendary Savini at Criterion restaurant in London on Tuesday evening to mark its 65th anniversary year.

Prunes NPD

UAE targeted with new Indian soft drinks

Hielo Beverages of India, which makes premium and luxury beverages, is entering the UAE soft drinks market.

India United Arab Emirates

Coca Cola subsidiary reported to have ceased production

Turkmenistan Coca-Cola Bottlers is on the verge of quitting the Turkmenistan market, according to local media.

Turkmenistan Commercial

Orkla acquires Czech frozen vegetables processor

Norwegian food processor Orkla has signed a deal to acquire Agrimex, a leading frozen vegetable producer in the Czech Republic, through its subsidiary Hamé, for an undisclosed sum. 

Operations Frozen Foods

QFN no longer representing Fruits du Sud

Dutch broker QFN Trading & Agency has announced that its agency agreement with South African raisin producer Fruits Du Sud is no longer in place.   

Dried Vine Fruit South Africa

House of Flavors upgrades production plant

The US ice-cream maker House of Flavors Inc has spent USD30 million on improvements to its facility in Ludington (Michigan), The Michigan Economic Development Corporation (Medc) stated in a press release. 

Frozen Foods Investments
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People Explore this Topic

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California Prune Board highlights achievements in 2017

The California Prune Board (CPB) held a celebratory dinner at the legendary Savini at Criterion restaurant in London on Tuesday evening to mark its 65th anniversary year.

Prunes NPD

Arctic apples get to core of browning issues in US

Arctic apples, a variety of apples that has been genetically modified (GM) to slow down browning, will be arriving in grocery stores in the US in the next few weeks, making it the first time the genetically engineered (GE) fruit will be commercially available anywhere in the world. 

Fresh Apples Fresh Tropical Fruit

Argentina names new agriculture minister

Argentina’s Cabinet chief Marcos Pena has announced that Luis Miguel Etchevehere, currently the president of the Argentine Rural Society, a powerful industry lobby group, will become the country’s new Agriculture Minister to replace Ricardo Buryaile.

Argentina Policy

Police arrest executives of bankrupt supermarket chain

A wide-ranging investigation in the failed business dealings of Croatia’s – and the ex-Yugoslav region’s – largest food retailer Agrokor has entered a new, more dramatic stage with more than a dozen arrests of top company brass, initiated on October 16.

Croatia

Thai Union to restructure its European executives board

The current person responsible for Thai Union Northern Europe Ambient, Paul Reenan, will take over from Elisabeth Fleuriot as regional president for Europe, the company announced today. Thai Union expects with this move to coordinate operations in all regions. 

Thailand Europe

FrozenB2B looks also at the foodservice

The networking group of the frozen food industry will host an event focused on foodservice in Paris, near to Charles de Gaulle airport, on January 30-31 2018, IEG Vu was informed at the Anuga food fair.

Frozen Foods Prepared Frozen Foods
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