top of page

The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry

FoodBev Media Logo
Access more as a FoodBev subscriber

Sign up to FoodBev and unlock more insights from the international food and beverage industry. Subscribers have access to webinars, newsletters, publications and more...

FoodBev Weekly News Bulletin – 15/12/23
FoodBev Media

FoodBev Media

15 December 2023

FoodBev Weekly News Bulletin – 15/12/23


FoodBev Media's Rafaela Sousa rounds up this week's food and beverage news, including: Chr. Hansen, Novozymes merger approved, Kerry to acquire lactase enzyme business The European Commission has cleared the merger between Chr. Hansen and Novozymes, conditional upon compliance with the commitments offered by the companies to divest their interests in lactase manufacturing. Kerry Group has agreed to acquire the lactase enzyme business of the two companies on a carve-out basis. Kerry’s acquisition of the lactase enzyme business is subject to Commission approval. This business is assessed at a total consideration of €150 million, subject to routine closing adjustments. The acquisition is expected to close in the first half of 2024. The agreement to purchase part of the lactase enzyme business was dependent on the European Commission’s clearance of the merger between Danish bioscience companies Novozymes and Chr. Hansen. By divesting part of the parties’ lactase businesses, the Commission reports that the transaction eliminates the danger of removing sufficient competition, and thereby reducing innovation in the industrial bio-tech sector. With the clearance from the European Commission, Novozymes and Chr. Hansen have announced their new name as a merged business: Novonesis. UAE’s first brewery to open in Abu Dhabi A beer brewery is set to open in Abu Dhabi, United Arab Emirates, this month, making it the first company to legally produce alcohol in the region. The microbrewery and gastropub by Side Hustle Brews – named Craft – will be located in The Galleria Al Maryah Island in Abu Dhabi. While the brand had previously sold beers in the UAE and on Etihad Airlines flights, it conducted its brewing operations in the US. Abu Dhabi revised its alcohol licensing rules in 2021, permitting license holders to produce beverages on-site for consumption within licensed venues. The brewery will provide on-site brewed hops, grains and cocktails by Side Hustle, which is the UAE’s first craft alcohol brand, along with southern smokehouse and pub cuisine. Italy’s Newlat in talks to buy UK food group Princes – Reuters Italy-based food manufacturer Newlat has revealed that it is in “very advanced” talks to buy British food and beverage supplier Princes, according to Reuters. It was reported last week that Newlat and British buyout firm Epiris were competing to purchase Princes from Japanese owner Mitsubishi, which the report said is seeking a price of £400 million. In a statement, Newlat said it was involved in a “competitive process” for a deal. Princes supplies tinned fish and fruit under its own name brand, while it also has other brands such as Flora sunflower oil and the Napolina range of Italian-style sauces and ingredients. FrieslandCampina to cut 1,800 jobs by 2025 FrieslandCampina plans to cut 1,800 jobs worldwide over the next two years as part of efforts to lower costs. Approximately 1,200 employees are expected to be laid off in 2024. The job cuts will span across “almost all” parts of the organisation. FrieslandCampina said that the job cuts are expected to generate savings ranging from €180 million to €200 million as part of the company’s programme that aims to reduce annual costs by €400 million to €500 million by 2026. According to the company, part of the annual savings will be used to offset inflation, and the rest of the margin expansion will be evenly divided between investments in sustainable growth and boosting the company’s net profit. The implementation of these cost-saving measures will involve one-time costs of up to €170 million in 2023.

bottom of page