Tune into the latest edition of FoodBev’s weekly podcast, where we take an in-depth look at some of the biggest stories from the food and beverage industry over the last week.
This week’s podcast features CBD drinks, significant moves by major alcohol companies, a $600m production investment, record financial results, global headquarter moves and more.
One of the biggest stories of last week saw Constellation Brands offload its Black Velvet Canadian Whisky to US distilled spirits supplier Heaven Hill Brands for approximately $266 million, as Constellation is seeking to focus on its premium wine and spirits portfolio.
Staying in the alcoholic beverage space, Diageo signed a joint venture agreement with Corporación Cuba Ron, a major producer of rum-based in Cuba, and the new joint venture will hold will hold the exclusive global distribution rights to Cuban rum brand Santiago de Cuba.
Moving into the packaging industry, last week saw US-based packaging manufacturer Graphic Packaging invest around $600 million to significantly expand the production of coated recycled board packaging.
Meanwhile, New Zealand-based dairy co-operative Fonterra announced last week that it is on track to record an annual loss of as much as NZD 675 million ($433 million) due to a range of write-downs across its global business.
On the acquisitions front, Japanese chemical trading firm Nagase Group has completed the purchase of ingredient manufacturer and distributor Prinova Group, a deal which will enable Nagase to expand its footprint in North America and Europe.
All that and more in this week’s podcast.
Presented and edited by: Martin White and Bryony Andrews
© FoodBev Media Ltd 2019