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SOUTH AFRICA – Premier Group, one of the oldest and most renowned food producers in South Africa, saw its shares surge by more than 11% after its successful listing on the stock market, the company has reported. The company, owned by billionaire Christo Wiese’s private equity firm Brait, has a strong presence in the South African market with its top…
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UK- Anpario PLC’s dividends reached 10.5p, 5.0% higher than 10.0p in 2021, although the company’s profit lowered by 35% to US$4.02 million in 2022, and adjusted EBITDA fell by 25% to US$5.66 million. The international feed additives manufacturer cited increased production costs and lowering demand for lowered profit in 2022. Increased production costs were especially high because of supply chain…
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NETHERLANDS- Viterra experienced its most successful year on record in 2022, partly due to favorable market conditions, record production in major export regions, and completing its acquisition of Gavilon. Gavilon recently rebranded to Viterra after its acquisition by the Rotterdam-based grain handler in 2022. With the acquisition of Gavilon, headquarters in Omaha, Nebraska, US, Viterra added 110 up-country sites in…
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NETHERLANDS – Louis Dreyfus Company (LDC) credits its diversified global footprint for the resilient performance of Grains & Oilseeds platform in 2022 as it reported a 44% increase in net profit, netting just over US$1 billion compared to US$697 million in 2021. Reporting its financial performance on March 2022, LDC cited significant challenges affecting the Grains and Oilseeds platform in…
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KENYA – Kenyan legislators have accused millers of breaching the subsidy deadline deal, a situation which might delay payment of KES2.9 billion (US$22 million) which millers claim the government owes them, Business Daily reported. The maize subsidy was an initiative by retired President Uhuru Kenyatta that was aimed at stemming the high-cost flour that had hit KES230 for a two-kilogram…
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SOUTH AFRICA – South African food producer Premier Group has announced plans to list in the Johannesburg Stock Exchange (JSE) with the intention of raising as much as ZAR3.6bn (US$197.6M). As part of the listing, Premier Group will be valued at ZAR6.9bn (US$378M) with the shares priced at ZAR53.82 (US$2.9) including an overallotment of ZAR100m (US$5.5M). The decision comes after…
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EGYPT – Edita Food Industries (EFI), Egyptian snacks giant, has more than doubled its net profit for the fiscal year 2022 which ended on December 31 last, to hit 959.4 million pounds (US$31.3 million), Agence Ecofin has reported. The company noted that the impressive performance which exceeded the previous record of 471.9 million pounds (US$15.4 million) was attributed to a…
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USA- Gavilon has finally rebranded as Viterra across its business in the United States and Mexico, following Viterra Ltd.’s purchase of the grains origination and storage and food ingredients business of Gavilon Agriculture Investment Inc. in 2022. Gavilon has been storing and distributing grains, oilseeds, and feed and food ingredients, to domestic and global markets, and will now be doing…
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SINGAPORE- In spite of growing geopolitical risks and significant macroeconomic volatility in 2022, Olam Agri delivered revenue growth of 18.0% to US$36.9 billion. Olam Agri, one of three of Olam’s operating groups, accounted for the largest share of the Group’s sales volume at 89.0%, while ofi and Remaining Olam Group accounted for 8.4% and 2.6%, respectively, in 2022. This revenue…
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MEXICO – Grupo Bimbo, the Mexico-based bakery giant, plans to spend up to US$2bn on capital investment in 2023 in part to meet the demand for its products, Diego Gaxiola, the company’s CFO has said. The investment is up by 67% from the US$1.2b spent on capital expenditure in capex in 2022, according to the CFO. Gaxiola’s comments came as…
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