FoodBev Media’s David Echevarría rounds up this week’s food and beverage news, including:
A2 Milk and Synlait Milk enter Arbitration
As reported by FoodBev in September, A2 Milk announced that it would be cancelling Synlait’s exclusive manufacturing and supply rights for some of its infant formula products due to Synlait’s delivery performance falling below the required level within the fiscal year 2023.
The New Zealand-based milk nutrition company disputed the cancellation with no successful outcome, with both companies now entering into a confidential binding arbitration process.
The process will aim to determine the validity of A2 Milk’s notice of cancellation of the exclusivity arrangements under the Nutritional Powders Manufacturing and Supply Agreement.
Newly Weds Foods to be bought by Redwood Holdings for $4bn – Reuters
Private equity firm Redwood Holdings has agreed to buy food ingredient company Newly Weds Foods for around $4 billion, according to Reuters.
Newly Weds Foods is a US-based producer of premium batters, breadings, coatings, spices and seasonings for the processed food industry.
The report states that Newly Weds Foods’ CEO Brian Johnson will continue to lead the company once the deal is complete.
EU set to ban products made with forced labour
The European Parliament is tightening its stance on products made using forced labour.
The Internal Market and International Trade committees voted for a draft regulation proposed last year, which would provide a framework to investigate the use of forced labour in companies’ supply chains.
If a company is proven to have used forced labour within its supply chain, all import and export of the related goods would be halted at the EU’s borders under the regulation.
Companies would also have to withdraw goods that have already reached the EU market, which would then be donated, recycled or destroyed.
Tyson Foods partners with insect ingredient company Protix
Tyson Foods has reached an agreement for a strategic investment with global insect ingredients company Protix.
The investment will support the growth of the emerging insect ingredient industry, expanding the use of insect ingredient solutions to create more sustainable proteins and lipids for use in the global food system.
Tyson Foods will acquire a minority stake in Protix through a direct equity investment, helping to fund the insect ingredient company’s global expansion.
This week’s product round up:
Nutraland launches tomato-derived melatonin ingredient
Natural ingredients supplier Nutraland USA has launched Somato, a whole-food-derived melatonin ingredient sourced exclusively from tomatoes.
Hormel Foods unveils cold water dissolvable bouillon
Hormel Foods has announced the launch of Herb-Ox Cold Water Dissolve Bouillon in beef and chicken varieties, stating that these products will revolutionise the way we cook soups, stews and gravies, offering convenience and flavour.
Procudan develops 100% natural cheese wax
Procudan, a Danish ingredients and packaging specialist company, has developed a cheese wax made from 100% natural materials.
While conventional cheese waxes in use today contain materials such as plastics and waxes based on fossil oil, Procudan’s newly developed ProCera Natural cheese wax is made entirely from materials of natural origin.
Kepak unveils vending technology in the UK
Kepak is expanding its automated retail solutions with the launch of what it claims is a “first for the sector” hot vending machine, Hot Vend Kiosk.
The machine will dispense its Rustlers’ Cook-in-Box range burgers within 80 seconds from the user’s selection.
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