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Category: Investments, M&A & Funding

Associated British Foods acquires National Milk Records for US$ 60M to boost its animal feed firm, AB Agri

UK – Associated British Foods (ABF), a British multinational food processing, plans to buy local dairy technology firm National Milk Records (NMR) in a deal worth £48m (US$59.6m) to boost AB Agri, its agri-food unit. In an announcement to the London Stock Exchange, Kingsmill bread and Patak’s sauces owner said “AB Agri actively looks to add new, complementary capabilities through…

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Advans Côte d’Ivoire partners AFD in US$245,000 deal to finance maize producers’ access to inputs

CÔTE D’IVOIRE – Advans Côte d’Ivoire (Advans-CI), a microfinance institution and member of the Advans group, has signed a financing agreement of 150 million CFA francs (US$245,000) to implement a pilot program intended to finance cooperatives of maize producers. According to Ecofin Agency, Advans has partnered with Proparco, a subsidiary of the French Development Agency (AFD) dedicated to financing the…

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Puratos USA expands West Coast operations with multiple investments 

USA- Belgian ingredients supplier Puratos is expanding its West Coast operations with two key investments in the Los Angeles region. The two investments include a new manufacturing line at its Rancho Dominguez, Calif., facility and a planned relocation to a new warehouse and distribution facility in Gardena, Calif. According to Puratos, the new manufacturing line in Rancho Dominguez will double…

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Mühlenchemie expands African capabilities with Stern Ingredients South Africa

SOUTH AFRICA- MC (Mühlenchemie) is expanding its presence in Africa, opening its third African location, Stern Ingredients South Africa, with labs and a technology center.  The other two existing locations include one in Lagos and one in Nairobi, and this new addition means that MC can perform the entire value-addition chain in flour improvement and fortification on-site, from sourcing, rheology,…

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PepsiCo opens a new US$238M snack plant in Poland

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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Tingo Group grants US$6.5m to boost rice and wheat cultivation in Nigeria

NIGERIA –Tingo Group, a global Fintech and Agri-Fintech group of companies has provided a US$6.5 million loan facility to the All-Farmers Association of Nigeria (“AFAN”) aimed at developing 3,000 hectares of agricultural land to cultivate rice and wheat. According to Tingo, the initiative is intended to generate an additional 6,000 Metric Tons of wheat per annum and an additional 16,000…

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Jana Partners files lawsuit against Freshpet over breached fiduciary responsibilities

USA- Activist investor Jana Partners’s fire on New Jersey-based Freshpet intensifies as it files a lawsuit alleging the pet-food company breached its fiduciary duties. The investor recently blasted Freshpet over governance changes that could impact the investor’s ability to secure board seats, and has now turned that complaint into a legal undertaking, filing a lawsuit in the Court of Chancery…

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Cargill to divest China poultry unit to private equity firm DCP Capital

CHINA-  Global agribusiness and commodities trading giant Cargill recently announced that it is selling its poultry business in China to private equity firm DCP Capital, citing an increasingly challenging business environment for foreign players in the Chinese meat market.  The divested unit is known as Cargill Protein China, and it started operating in the Asian superpower in 2011, breeding, raising,…

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Brazil’s BRF draws share pledges from Saudi Arabia’s Salic and Marfrig

BRAZIL-Saudi Agricultural and Livestock Investment Co. (SALIC) and Marfrig have each committed to purchasing 250 million shares in any “future primary” share offering by Brazilian meat giant BRF. BRF has a potential US$900 million stock offering and these two players will be taking up the majority of this offering.  SALIC, which was formed in 2011 to secure food supplies for…

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PepsiCo South Africa’s subsidiary Pioneer Foods takes full ownership of Futurelife Health

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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