Canadian bread maker Backerhaus Veit acquired by private equity firm PNC Riverarch Capital

NORTH AMERICA – Middle-market private equity firm PNC Riverarch Capital has acquired baked foods manufacturer Backerhaus Veit, Ltd from Swander Pace Capital for an undisclosed sum. Founded in 2011 and headquartered in Pittsburgh, North America, PNC Riverarch capital specializes in investing in market-leading companies to maximize their growth potential while preserving their culture and legacy. Based in Mississauga, Backerhaus Veit…

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Kellogg fully exits Russia with sale of operations to local firm Chernogolovka

RUSSIA- American multinational food manufacturing company, Kellogg, is divesting its operations in Russia to local snacks and drinks maker Chernogolovka. Founded in 1998, Chernogolovka makes snacks, energy drinks, and bottled water, and has been producing Cola Chernogolovka since May, following the suspension of sales in Russia by soda giants Coca-Cola and PepsiCo. Chernogolovka, which has also started supplying soft drinks…

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Lotus Bakeries invests in US cognitive performance snack brand IQBAR

USA – Belgium-based biscuit and snack maker Lotus Bakeries has acquired a minority stake in IQBAR, a better-for-you bar manufacturer based in the US. The investment for an undisclosed sum was made through the firm’s corporate venture fund FF2032 which positioned Lotus as a lead investor in IQBAR. The partnership is part of IQBAR’s series B funding round which is aimed…

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