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USA – Kellogg’s, an American multinational snack and cereal company has launched a new range of non-HFSS (high in fat, salt, and sugar) Coco Pops for the second time this year with the introduction of new Coco Pops Loops and Coco Pops Mega Pops. The milestone comes after losing its 2022 court case against the UK Government’s HFSS guidelines where…
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SOUTH AFRICA – South African food producer Premier Group has posted a near 40% jump in annual profit despite increasing commodity prices and rising inflation According to the company, the headline earnings reported on June 6 correspond to earnings per share of 634 cents for the year ended 31 March, up from 453 cents a year earlier. In addition, the company…
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POLAND – PepsiCo, American food and drink giant has opened a new 1-billion-zloty (US$238M) snack plant in the southwestern Polish village of Święte, Bakery and Snacks has reported. According to Bakery and Snacks, the facility, which will produce Lay’s and Doritos among other brands, is the firm’s fifth plant in Poland and its biggest investment so far in the country.…
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SOUTH AFRICA – Pioneer Foods, a subsidiary of PepsiCo South Africa has acquired the remaining half of Futurelife Health, eight years after buying its initial stake in the maker of nutrient-dense breakfast cereals and snacks. BizCommunity reports that the transaction, which is subject to some administrative condition’s precedent, is expected to close and be effective in the first week of…
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EGYPT – Edita Food Industries (EFI), a leading Egyptian snack food producer, has entered the frozen bakery segment by the acquisition of Fancy Foods S.A.E., a local manufacturer specializing in the production of frozen foods for US$12 million. Ecofin Agency reports that the company made the announcement through a press release published on May 30, on the company’s website. According…
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Zambia – Zambian National Biosafety Authority (NBA) has granted two companies permits to import pet foods and snacks alleged to contain genetically modified organisms (GMOs) for the next five years. Speaking in an interview, NBA’s Authority Communications Officer Sandra Lombe said that the Scientific Advisory Committee recommended to the Board the issuance of permits after risk assessments were conducted and…
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SWITZERLAND – Nestlé, the world’s largest food company has announced that Magdi Batato, the Executive Vice President and Head of Operations will retire in early 2024 after a distinguished career of over 30 years at the company. Consequently, a former employee at Nestle Stephanie Pullings Hart, currently Senior Vice President of Operations for Warby Parker, will return to Nestlé, effective…
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KENYA – Breakfast will get costly as bread makers increase the price of bread by 16 percent, with now the 400 grams loaf expected to retail at KES 70 from KES 60, Capital News has reported. The exorbitant bread prices add more pain to Kenyans who are already battling the high cost of food products amid a shrinking economy. According to…
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INDIA – Britannia Industries Ltd, India’s largest biscuit maker, has forecast low single-digit input cost inflation for the current fiscal year, around 3%. Speaking in an interview, Varun Berry, company vice-chairman and MD said that the company will closely monitor input costs and will remain watchful of competitive pricing activities. “We are now in a phase where inflation is going…
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USA – Post Holdings, a consumer-packaged goods holding company has revealed that it has pulled Post Holdings Partnering Corporation (PHPC), a special purpose acquisition company (SPAC) it formed two years ago after failing to find an acquisition target by a May 28 deadline. Announced in a statement on 11 May, Post revealed that it had “decided to redeem all of its…
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