August’s top news stories

BASF completes vegetable seeds business acquisition from Bayer for $7.6bn

German chemical firm BASF completed the acquisition of Bayer’s global vegetable seeds business, which operates under the brand name Nunhems.

The closure completes BASF’s acquisition of a range of businesses and assets with combined 2017 sales of €2.2bn, which Bayer offered to divest as part of its takeover of Monsanto.

BASF initially signed the agreement to purchase further businesses and assets from Bayer in April, which built on a deal signed last October to acquire significant parts of Bayer’s seed and non-selective herbicide businesses for €5.9bn.

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Premium Brands acquires 62.6% stake in Yorkshire Valley Farms

Speciality food manufacturer Premium Brands Holdings (PBH) acquired a 62.6% stake in Yorkshire Valley Farms, which is primarily engaged in the processing and marketing of organic chicken products.

Both companies involved in the transaction are based in Canada.

The financial details of the deal have not been disclosed by either party.

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HUL to acquire Vijaykant Dairy’s ice cream business

Hindustan Unilever (HUL) signed an agreement to acquire Vijaykant Dairy and Food Products’ (VDFPL) ice cream and frozen desserts businesses, which include its flagship brand ‘Adityaa Milk’ and front-end distribution network that spans several regions.

The financial details of the deal were not divulged by either company.

The acquisition is said to support HUL’s aim of strengthening its position within the Indian ice cream and frozen dessert markets.

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Emmi increases stake in Emmi Ambrosi France to 85%

Swiss cheese and dairy company Emmi increased its stake in packaged cheese joint venture (JV) Emmi Ambrosi France from 51% to 85%.

The remaining 15% stake is owned by the Italian Ambrosi Group.

The financial details of the acquisition were not disclosed by the companies.

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Mitsubishi to acquire significant stake in Gourmet Delica

Japan’s Mitsubishi Corporation (MC) is planning to acquire an 80% stake in pre-cooked rice manufacturer Gourmet Delica from its current owner Kewpie.

In addition to pre-cooked rice, Gourmet Delica also manufactures other food products that are commonly used in lunchboxes.

The majority of these products are sold to MC Group company Lawson, which operates a chain of convenience stores in Japan.

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SFEP acquires significant stake in Brazi Bites

San Francisco Equity Partners (SFEP) acquired a majority stake in Portland-based Brazilian-style cheese bread producer Brazi Bites for an undisclosed price.

US-based SFEP is a private equity firm that primarily focuses on consumer growth companies.

Brazi Bites co-founder and CEO Junea Rocha said: “San Francisco Equity Partners is the ideal partner for Brazi Bites based on their experience guiding authentic consumer brands to a broader audience.”

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Indra Nooyi to step down as PepsiCo CEO

PepsiCo’s board of directors announced that Indra K Nooyi is planning to step down as the company’s CEO following more than a decade of strong performance.

The company’s board has elected Ramon Laguarta as PepsiCo’s new CEO.

Nooyi is slated to step down on 3 October but will remain chairman until early next year in order to ensure a smooth and seamless transition.

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Freedom Foods to acquire Crankt Protein brand

Australia’s Freedom Foods Group (Freedom Foods) has reached an agreement to acquire nutrition products company Crankt Protein.

Crankt Protein is an Australian brand that markets a range of mainstream nutrition products such as beverages and snack bars, which are sold throughout the petrol and convenience, fitness retailers and retail grocery sectors across Australia and New Zealand.

Freedom Foods originally signed a distribution agreement with Crankt Protein in February, which will be effective for a minimum period of three years.

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Hormel Foods to sell pork processing facility to Wholestone Farms

Hormel Foods signed a definitive agreement to sell its pork processing facility in Fremont, Nebraska, US, to WholeStone Farms, for an undisclosed price.

The deal also includes a multi-year agreement to supply raw pork products to Hormel Foods.

Hormel Foods board chairman, president and CEO Jim Snee said: “The Fremont facility has been an important part of our company for decades, and we are certainly pleased to have found a home for this team and facility with WholeStone Farms.”

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Danish Crown to expand Blans abattoir in Denmark

Danish Crown is planning to expand its abattoir in Blans near Sønderborg, Denmark, by installing a new production line.

The new production line will be dedicated to meeting demand from consumers and restaurants in Japan, as well as create 100 new employment opportunities.

Danish Crown Pork CEO Søren F Eriksen said: “It’s great to be in a situation where we’re taking on new people, especially when we here are talking about permanent jobs, which are not affected by fluctuations in the supply of pigs.”