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Financial Results Explore this Topic

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Double dip for Dutch dairy co-op as write-offs hit profits

FrieslandCampina stumbled in two of its markets this year, did better in a third, and raised revenues thanks to higher sales prices.
Dairy Products Financial Results

Glencore Agri sees profits fall by a quarter in 2017

The agriculture business of global commodities giant Glencore reported a 26% drop in adjusted net earnings for 2017, despite a “resilient performance when compared to many peers”.

Glencore Financial Results

Seneca to close canned peach facility in California

The US fruit and vegetable processor Seneca Foods Corporation will close the Modesto-based facility in California due to “challenging economic conditions”, the company announced this week.

US States Production

US cheese sales deliver record earnings for Agropur

Canada’s second-largest dairy operator, and leading co-op, Agropur has posted record sales and earnings for 2017 on the strength of its US operations.

Agropur Cheese

Thai Union reports annual gains

The canned tuna processor Thai Union Group reported a 1.6% sales increase to THB136.53 billion (USD4.34 bln) and a net profit rise of 14.6% to THB6.02 bln (USD191 mln) for the 2017 financial year.

International Thailand

Cherkizovo posts significant revenue growth in 2017

Russia’s second-largest meat and crop producer Cherkizovo reported successful full-year results, boosted by increased sales in the pigmeat and meat processing sectors.

Cherkizovo Russian Federation
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Investments

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Barry Callebaut launches innovative chocolate for US market

Leading chocolate and cocoa product manufacturer Barry Callebaut has announced the production of a high-flavanol chocolate for US consumers.

Cocoa Barry Callebaut

Brazilian tomato processor installs new packaging line

Bemis, a global manufacturer of flexible packaging products, has commissioned a new Totani pouch production line in the Patos de Minas canning plant controlled by Predilecta, a Brazilian producer of processed tomato, fruit nectars and canned vegetables.

Brazil Investments

Insolvent Spanish anchovy processor in takeover talks

The Spanish investment group Cantabria Family has made an offer to acquire the anchovy processor Conservas Fredo, under liquidation since February 2017, local media reported this week.

Europe Spain

Indian business park to specialise in spices

The Indian Kerala Industrial Infrastructure Development Corporation (Kinfra) is to develop a spice processing complex, after having obtained the initial approval of the Indian government.

Spices & Exotics India

Tomalia refinanced its debt

The tomato cooperative signed last December a refinancing agreement of about EUR25 million (USD30.8 mln) to cover losses and reinvest in the coming season, while the cooperative’s partners have recently invested EUR3.7 mln to expand its capital.

Tomato Paste Production

MPC will enlarge its macadamia processing plant

The Australian Macadamia Processing Company (MPC) has received a AUS5 million (USD3.94 mln) loan from the Australian state of New South Wales (NSW) to construct an additional building to process an additional 450 tonnes of macadamias per year.

Macadamias Australia
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M & A

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Insolvent Spanish anchovy processor in takeover talks

The Spanish investment group Cantabria Family has made an offer to acquire the anchovy processor Conservas Fredo, under liquidation since February 2017, local media reported this week.

Europe Spain

Italian food group Granarolo expands in the UK

The cooperative group Granarolo acquired, through its subsidiary Granarolo UK, 100% of Midland Food Group, distributor of fresh and frozen food products in the country.
M&A Italy

Dr. Oetker gets go ahead to buy Bake & Co

The European Commission has given Germany’s Dr. Oetker the green light to buy Belgium’s Bake & Co after checking out the proposed deal under the EU’s simplified merger review procedure.
Frozen Foods M&A

Bonduelle buys Del Monte Canada from Conagra

Bonduelle has signed an agreement with Conagra Brands to acquire its Del Monte processed fruit and vegetable business in Canada for CAD43 million (USD34 mln).

Canned & Tomato Products M&A

Croatian soft drinks maker secures much-needed investment

Croatian chemical products manufacturer Meteor has injected HRK214.15 million (USD35.8 mln) into alcoholic and soft drinks producer Badel 1862, in a debt-for-equity swap. The Croatian government has added an additional HRK8.5 mln. 

Beverages Croatia

Dairy partnership no more, as Dutch take control in China

FrieslandCampina has wrested control of a troubled subsidiary from its erstwhile Chinese partner.

FrieslandCampina M&A
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Operations Explore this Topic

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Brazilian tomato processor installs new packaging line

Bemis, a global manufacturer of flexible packaging products, has commissioned a new Totani pouch production line in the Patos de Minas canning plant controlled by Predilecta, a Brazilian producer of processed tomato, fruit nectars and canned vegetables.

Brazil Investments

Moscow government will help fund canned mushroom project

Igor Chaika, son of Russia's Prosecutor-General Yury Chaika, aims to become one of Russia’s largest producers of canned mushrooms and other canned vegetables, with the aid of the Moscow city authorities who will contribute 20% of the estimated RUB3.0 billion (USD45 million) cost.

Canned Mushrooms Russian Federation

Insolvent Spanish anchovy processor in takeover talks

The Spanish investment group Cantabria Family has made an offer to acquire the anchovy processor Conservas Fredo, under liquidation since February 2017, local media reported this week.

Europe Spain

Italian food group Granarolo expands in the UK

The cooperative group Granarolo acquired, through its subsidiary Granarolo UK, 100% of Midland Food Group, distributor of fresh and frozen food products in the country.
M&A Italy

Croatian beverage and frozen food companies banned from trading

The Zagreb Stock Exchange has temporarily suspended eight subsidiaries of Agrokor, one of the country’s largest food processors and retailers, and its largest privately-owned company, from trading.

Fruit Drinks Bottled Water

Dr. Oetker gets go ahead to buy Bake & Co

The European Commission has given Germany’s Dr. Oetker the green light to buy Belgium’s Bake & Co after checking out the proposed deal under the EU’s simplified merger review procedure.
Frozen Foods M&A
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People Explore this Topic

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Fatal explosion at Saipol oilseed plant in France

Two people died after an explosion at an oilseed crush plant in Dieppe, France, belonging to Europe’s largest biodiesel producer Saipol, part of the Avril group.

Operations People

TUNA 2018 in Bangkok open to entries

Themed ‘Braving Challenges: Towards a Traceable and Sustainable Tuna Industry’, the upcoming TUNA 2018 will be the 15th World Tuna Trade Conference and Exhibition organised by INFOFISH, held at the Shangri-La Bangkok from May 28-30. 

Thailand Canned & Tomato Products

Coca-Cola names new Minute Maid president

John Hackett, a graduate of Cornell University, took this position as president of Coke’s Minute Maid Business Unit on January 1. In this role, he is responsible for growing and expanding the company’s juice, dairy and plant-based portfolio, including brands like Minute Maid and Simply, as well as emerging, high-potential brands like Zico, Fairlife and Suja.
People Coca Cola

Dried fruit sector obituary: Takis Couniniotis (1926-2017)

It is with sadness that the UK dried fruit industy received the news that Takis Couniniotis passed away on December 30 2017.

People Greece

Tri Marine International hires Patrick Murphy

The foodservice and retail sector of Tri Marine International, The Tuna Store, will be managed by the tuna industry executive Patrick Murphy. 

US States International

Tate & Lyle appoints new chief exec

UK ingredients firm Tate & Lyle Plc has announced the appointment of Nick Hampton as chief executive with effect from April 1, 2018. 

Tate and Lyle Commercial
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