Nestlé buys majority stake in Brazilian chocolate maker Grupo CRM
Nestlé has reached an agreement with private equity firm Advent International to acquire a majority stake in Brazilian premium chocolate maker Grupo CRM for an undisclosed sum.
Grupo CRM operates a direct-to-consumer strategy, with more than 1,000 chocolate boutiques under the Kopenhagen and Brasil Cacau brands and a growing online presence.
The deal will facilitate Nestlé’s expansion within the “high-end” gifting sector. Nestlé says it will leverage its global research and development capabilities to fuel innovation and foster growth. Additionally, the food giant said it will support Grupo CRM’s sustainability ambitions.
The transaction, which is subject to customary regulatory approvals, is expected to close in 2024.
Bill Gates buys stake in AB InBev worth approximately $95m
Through his philanthropic organisation, the Bill & Melinda Gates Foundation Trust, US business magnate Bill Gates, has acquired 1.7 million shares in AB InBev.
The shares are currently valued at approximately $95 million.
The deal signifies confidence in the global brewer’s ability to overcome its current challenges, as the company has been embroiled in controversy this year.
This latest investment follows the businessman’s purchase of a 3.8% stake in global beer giant Heineken in February this year. Gates purchased 6.65 million shares in Heineken Holding individually, while 4.18 million shares were bought through the Foundation, reported to be worth a total of €883 million.
Koa inaugurates “Africa’s largest” cocoa fruit factory
Koah has inaugurated its second cocoa fruit factory in Ghana, which is set to scale its production facilities tenfold.
Koah is on a mission to transform the cocoa industry through its upcycling of cocoa fruits – the company says it is the “first in West Africa to have unlocked a new value chain around the overlooked cocoa pulp”.
Daniel Otu, production and operations director at Koah, said that the new factory will allow the company to grow in line with the demand from Koah’s customers.
In addition, he added that the factory will generate 250 new jobs in rural Ghana, and the company will extend its co-co fruit upcycling to an additional 10,000 cocoa farmers.
Arla Foods Ingredients takes control of MV Ingredients JV as Volac exits
Arla Foods Ingredients has taken full control of MV Ingredients as Volac has exited the joint venture, which has been in place for more than ten years.
Over the last decade, both companies have benefitted from the 50/50 joint venture based at Arla Foods’ Taw Valley site in the UK.
MV Ingredients produces permeate powder sold by Volac and liquid whey protein concentrate sold to Volac.
Under the new deal, Arla Foods Ingredients will take on full ownership of MV Ingredients and account management for the permeate powder, and for a period, will continue to supply Volac with whey protein concentrate liquid.
The new ownership structure took effect on 1 September 2023.
Danone debuts range of high-protein dairy snacks
Danone UK&I has introduced a new range of high-protein dairy snacks – branded as GetPRO.
Containing between 15-25g of protein per serving, GetPRO’s full range of eleven products includes high-protein yogurts, mousses, puddings and drinks. In addition, GetPRO has no added sugars and low or 0% fat.
The GetPRO range is available in-store and online at Sainsbury’s and Morrisons, as well as Waitrose and Tesco from mid-September and Asda from mid-October.
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