Private equity firm Kingswood Capital Management has agreed to acquire the paper-based packaging arm of Coveris, as the European packaging group sharpens its focus on flexible plastics and PE investors continue to target sustainable materials assets. Kingswood said on Tuesday it had entered into a definitive agreement to buy Coveris’ Paper Business Unit, which will operate as a standalone company under its former name, Paragon Print and Packaging, following completion of the transaction. Paragon produces paper-based packaging for food, household and personal care customers, including labels, cartons, trays and lined board products. The business generated annual sales of around €270 million and employs approximately 1,400 people across the UK and continental Europe. Kingswood said it plans to retain Paragon’s existing management team, with chief operating officer Jo Ormrod appointed chief executive following completion. The unit will be rebranded immediately upon separation, restoring a name that predates its integration into Coveris. The acquisition marks another complex corporate carve-out for Kingswood, which has increasingly targeted industrial and materials businesses at strategic inflection points. The firm said it sees growth potential in paper-based packaging as food and consumer goods manufacturers seek recyclable alternatives to plastic amid tightening environmental regulations. Coveris, backed by private equity firm Sun Capital, said the divestment would allow it to focus on its core flexible packaging operations across Europe, the Middle East and Africa. Following the sale, Coveris will operate 17 flexible packaging sites in EMEA and the UK, generating annual sales of about €600 million and employing 2,500 people. Christian Kolarik, chief executive of Coveris, said the paper unit had reached sufficient scale and maturity to operate independently after being established in 2020. While flexible plastics manufacturers continue to invest in recyclability and downgauging, paper-based formats remain attractive to brand owners seeking fibre-based solutions aligned with circular economy targets. Jefferies acted as financial adviser to Kingswood, with Kirkland & Ellis providing legal counsel. The deal, signed in January, is expected to close in the first quarter of 2026, subject to customary regulatory approvals. Financial terms were not disclosed.

Better-for-you frozen food brand Tattooed Chef is entering the premium pizza segment with a new cottage cheese-based crust, as manufacturers race to add protein and functionality to mainstream comfort foods. The US-based company said it will launch a line of pre-made, ready-to-bake cottage cheese crust pizzas in March, positioning the product as a high-protein alternative to traditional frozen pizza. The launch comes as frozen food producers seek to revive category growth by tapping demand for protein-rich, gluten-free and 'better-for-you' formats, particularly among younger consumers who remain price-sensitive but increasingly health-focused. Tattooed Chef said the cottage cheese crust delivers higher protein content than conventional frozen pizzas, leveraging renewed consumer interest in dairy-based protein following the resurgence of cottage cheese across social media and foodservice menus. The new line will debut in four SKUs – Killer Bee, Spicy Vodka, Bianca and Four Cheese – flavours that the company said have previously performed well with its consumer base. Founder Sarah Galletti said the launch marks a shift in how the brand approaches frozen pizza innovation, moving beyond vegetable-based crusts towards protein-led reformulation. Tattooed Chef rose to prominence during the cauliflower-crust boom of the late 2010s but is now pivoting as the category matures and competition intensifies. Industry analysts have pointed to frozen pizza as a key battleground for value-added innovation, with brands under pressure to justify premium pricing through functional claims such as protein enrichment, gluten-free credentials and cleaner labels. Retailer distribution across three major US grocery chains suggests confidence in consumer uptake, despite ongoing cost pressures across dairy, cheese and frozen logistics. The range will roll out nationwide at Albertsons, Kroger and Sprouts, with a recommended retail price of $6.99.

Fresh Del Monte Produce has received approval from the US Bankruptcy Court to acquire select assets of California-based Del Monte Foods Corporation and its affiliates, marking a major milestone in a court-supervised sale process under Section 363 of the US Bankruptcy Code. The ruling clears the transaction to move into the pre-closing phase, providing regulatory and procedural certainty as the company advances through remaining steps, including customary regulatory reviews and other closing conditions. As previously disclosed, Fresh Del Monte will pay $285 million, plus the assumption of certain liabilities, for the assets. The company expects the transaction to close in the first quarter of 2026, subject to final regulatory approvals and standard closing requirements. Upon closing, Fresh Del Monte will acquire a portfolio of prepared and packaged food businesses, including vegetable, tomato and refrigerated fruit operations. The transaction also includes global ownership of the Del Monte brand subject to existing licensing arrangements. The company said additional details on the transaction’s strategic and financial impact will be shared following closing, in line with standard disclosure practices. With court approval secured, Fresh Del Monte is now focused on completing regulatory reviews and preparing for integration. Fresh Del Monte Produce operates in more than 80 countries and is one of the world’s largest vertically integrated producers and distributors of fresh and fresh-cut fruits and vegetables. The company also maintains a significant presence in prepared foods across Europe, Africa and the Middle East.

Brazilian meat processor JBS is expanding its manufacturing base in the Middle East with a $150 million joint venture in Oman, strengthening its exposure to fast-growing halal and food-security-driven markets. The company has agreed to form an 80:20 joint venture with Oman Food Capital (OFC), the agri-food investment arm of the state-backed Oman Investment Authority. The deal adds Oman to JBS’s regional network, which already includes two facilities in Saudi Arabia and one in the United Arab Emirates. Under the agreement, the new venture will consolidate two existing Omani production assets: A’Namaa Poultry Co’s unfinished poultry plant in Ibri, northern Oman, and Al Bashayer Meat Company’s beef and lamb processing facility in Thumrait in the south. OFC is the largest single shareholder in Al Bashayer. JBS said the equity investment would primarily fund the completion of the poultry facility, while also integrating red meat operations. Once fully operational, the combined sites are expected to reach a static production capacity of around 300,000 tonnes annually, including daily processing capacity of roughly 1,000 head of cattle, 5,000 lambs and 600,000 chickens. Production at the beef and lamb facility is expected to begin within six months, with the poultry site scheduled to come online within a year. The company said the venture aligns with Oman’s Vision 2040 economic diversification strategy, with a focus on domestic food security and import substitution. Beyond supplying the local market, JBS said the project would position Oman as a regional hub for halal meat production, targeting export markets across the Middle East, Africa and Asia. For JBS, the move underscores a broader push to deepen its presence in emerging markets where population growth, protein demand and government-backed food security initiatives are driving long-term investment. In an investor presentation published in November, the company said Africa and the Middle East together accounted for 3% of net revenue by consumption, indicating room for expansion. JBS owns brands including Seara and operates a global protein portfolio spanning beef, poultry, pork and value-added foods.

Artisan producer Sublime Butter has partnered with craft chocolatier Harth Chocolate to launch No. 20 Hot Chocolate Butter, a limited-edition collaborative product aimed at the premium gifting and speciality foods market. Designed as a cross-category hybrid product, No. 20 Hot Chocolate Butter blends cream, salt, dark chocolate and warming spices, creating a versatile flavoured butter positioned for both sweet applications and beverage use. The product is free from additives and artificial ingredients, aligning with clean-label and premium artisan food trends. The butter is designed to function across multiple consumption occasions, including bakery, brunch and dessert categories. Suggested uses include spreading on pastries and breads, pairing with pancakes, waffles and crêpes or incorporation into dessert recipes. The product can also be melted and combined with milk to create a premium hot chocolate drink, positioning it as a dual-purpose foodservice and retail offering. The collaboration brings together two Somerset-based brands with strong artisan credentials. Sublime Butter has built a reputation for high-impact flavour innovation, holding more than 33 Great Taste Awards and the Golden Fork accolade. Harth Chocolate is known for its ethical sourcing, eco-conscious packaging and sustainability-led production values. Tony Ho, managing director and head chef at Sublime Butter, said: “Collaborations only work when values and standards align. Working with Harth allowed us to create something genuinely new for the category. The gift chocolate space is often crowded but predictable. No. 20 was designed to disrupt that by creating a product that crosses boundaries between butter, chocolate, beverage and gifting.” The product is being released as a limited-run, handmade batch, creating scarcity appeal for premium retailers, farm shops, delis and speciality food outlets. Distribution is currently direct-to-consumer via Sublime Butter’s online platform, with potential for selective wholesale partnerships.

Alex Turnbull Yili Group has appointed Alex Turnbull as chief executive officer to lead its five New Zealand companies: Westland Milk Products, Oceania Dairy, Canary, EasiYo and Pure Nutrition. He will assume the role on Monday, 16 February and report to Zhiqiang Li, director of Yili Oceania business division in the region. Turnbull, an experienced New Zealand agribusiness executive, was previously CEO of Manuka Health, where he oversaw a business turnaround that improved profitability, cash flow and operational performance. His past roles include senior executive and board positions at Fonterra, including managing director for Latin America, as well as leadership positions across global ingredients, nutrition and consumer businesses. Li said: “Yili’s investment in our high-value strategy is continuing to reap dividends with extra production capacity in the high-value protein and fats categories, leading to increased global sales. Across a number of categories, demand continues to outstrip supply." He continued: “Alex brings with him more than three decades of senior leadership experience with a strong New Zealand focus across the global dairy and food sectors, spanning ingredients, consumer brands and foodservice". “He has a mandate to strengthen performance, deepen farmer and customer partnerships, and support the long-term success of Yili’s New Zealand businesses.’’ Turnbull added: “New Zealand plays a unique and important role in Yili’s global portfolio. I’m excited to be joining the business and to work closely with our farmers, customers and teams to build on the strong foundations already in place and create enduring value together.”

Takis is launching six new rolled snack flavours this spring, ranging from zero heat to hot, under its 'All Intense, Not All Spicy' campaign. The new flavorus include: Xtreme Lime – citrus-forward, zero heat. Smokin’ BBQ – smoky barbecue, mild heat. Jalapeño – classic green pepper, hot. Pickle Punch – dill pickle tang, medium heat. Crazy Buffalo – tangy buffalo sauce, medium heat, available exclusively at Kroger. Hot Honey – sweet and spicy, hot, available exclusively at Walmart. All six varieties are made without artificial colours and are sold in 3.25oz and 9.9oz packages. Takis plans to remove artificial colours across its entire portfolio by the end of 2026. Sandra Kirkpatrick, senior director of marketing at Takis, said: "These All Intense, Not All Spicy flavours show that intensity isn't one-dimensional. From zero heat to hot, this new line-up allows us to reach consumers and delivers craveable flavors for every taste preference – giving snackers more ways to experience Takis snacks in a way that matches their intensity." The new flavours have been available at retailers nationwide since Monday, 9 February, with select varieties sold exclusively at certain stores.

Trubar, the US protein bar brand known for its dessert-inspired flavours and clean-label positioning, has been acquired by Turkish snack giant ETi Gıda in an all-cash transaction valued at $173 million. The deal includes no earn-out and transfers 100% ownership of Trubar to ETi. The acquisition represents a major growth milestone for Trubar and a strategic expansion move for ETi Gıda, which is seeking to strengthen its presence in North America while building a broader global better-for-you snacking portfolio. Trubar founder and CEO Erica Groussman will remain in her role, and the company’s leadership team and employees will continue operating the brand independently, maintaining its vision, culture and operating model. “By joining the ETi family, we’re not changing who we are; we’re doubling down on it,” said Groussman. “Our products, people, and values remain at the heart of everything we do. What changes is our ability to deliver with greater consistency, innovate faster, and reach more consumers around the world”. Founded in 2019, Trubar has quickly positioned itself as a disruptor in the protein bar and better-for-you snacking category. The brand is known for its plant-based, gluten-free, dairy-free, soy-free and sugar alcohol-free formulations, paired with indulgent, dessert-inspired flavours and playful, culture-forward branding. Over the past year, Trubar expanded distribution to more than 21,000 retail locations across the US, including Costco, Target, Whole Foods, Albertsons and Erewhon. The company reported nearly $100 million in gross revenue in 2025, more than doubling the category’s five-year growth rate. It has also broadened its portfolio with the launch of Trubar Kids, extending its brand positioning to family and children’s nutrition. The partnership with ETi Gıda is expected to significantly accelerate Trubar’s ability to scale operations, strengthen supply chain infrastructure, and enter new international markets while maintaining brand autonomy. For ETi Gıda, a family-owned company founded in 1961, the acquisition represents a strategic entry point into the US clean-label and functional snacking segment. “Welcoming Trubar into the ETi family is a strategic step in expanding our presence in North America, one of the most influential markets globally, shaping the future of snacking,” said Firuzhan Kanatlı, chairman of the board of ETi Gıda. “By combining ETi’s operational expertise and scale with TRUBAR’s strong clean-label portfolio and agility, we believe both brands are well positioned for long-term global growth,” Kanatlı continued. ETi Gıda operates nine production facilities and employs nearly 8,500 people worldwide, with a diversified portfolio spanning biscuits, cakes, chocolate, wafers, savoury snacks, functional foods, frozen and chilled products, gluten-free lines and baby food. The company is recognised for its vertically integrated manufacturing, advanced R&D capabilities and long-standing consumer trust in its home market and international regions. Under ETi’s ownership, Trubar will retain its brand identity and operating structure, while gaining access to global manufacturing capabilities, international distribution networks and operational scale. The companies describe the deal as a platform for long-term international expansion rather than short-term integration. “ETi Gıda isn’t just a snack company, it’s a brand people grow up with,” Groussman said. “For generations, it’s been part of everyday moments that matter, creating an emotional connection rooted in happiness and trust. That idea deeply resonates with me, and I’m excited to bring that same spirit to Trubar as we expand our footprint globally.” With strong US retail momentum, brand loyalty, and a differentiated product portfolio, Trubar now enters its next growth phase backed by one of the world’s most established snack manufacturers, positioning it to evolve from a domestic category disruptor into a global better-for-you snacking brand.

British hummus brand ChicP has launched what it calls 'the UK’s first-ever' functional hummus range, positioning the brand at the forefront of health-led innovation within the chilled dips category. The new range has been developed to meet growing consumer demand for gut-health support, increased fibre intake and functional nutrition, while maintaining premium taste and clean-label credentials. ChicP’s innovation centres on replacing water with aquafaba (chickpea water), boosting fibre and protein content while reducing waste, alongside the use of extra virgin olive oil instead of rapeseed oil to enhance nutritional quality. Designed to deliver tangible health benefits without compromising flavour or versatility, the range targets consumers seeking plant diversity, digestive support and everyday functional eating – expanding hummus beyond a traditional dip into a core lifestyle food. “We created this functional range to enable consumers to choose healthier eating habits without compromising on flavour or convenience,” said Hannah McCollum, founder of ChicP. “We’ve pushed the boundaries of what hummus can be – delivering targeted benefits for gut health, plant diversity and functional nutrition, while keeping taste at the heart of everything we do.” The new range features five SKUs, each designed with specific nutritional and functional benefits: Velvet Good Gut Hummus – enriched with Aquamin, a natural seaweed-derived calcium source that supports digestive enzyme function and gut microbiome health; delivers 4 Plant Points Velvet Green Queen Hummus – a Green Goddess-style blend of peas, spinach, parsley and basil, delivering 6 Plant Points and high fibre content Velvet Beetroot & Horseradish Hummus – bold, earthy flavour with warming spice, offering 6 Plant Points and high fibre Velvet Hummus: High in Fibre – a Great Taste Award winner known for creamy texture and premium flavour Indulgent Velvet Truffle Hummus – created with The Truffle Hunter, delivering premium savoury notes and 4 Plant Points The functional hummus range is now available through major premium and health-focused retailers, including Ocado, Whole Foods Market, Planet Organic, Midcounties Co-op, Booths, Abel & Cole, Selfridges and independent farm shops nationwide. The range will retail at £2.50 RRP per 150g pot, with the Truffle variant at £2.75 RRP.

A-Sha Foods, known for its air-dried noodles and snacks, is set to release the first 'SpongeBob SquarePants'-inspired ramen noodle cups. The launch coincides with the release of The SpongeBob Movie: Search for SquarePants . The limited-edition collection features three character-themed cups, celebrating Bikini Bottom’s fictional Good Noodle Award: SpongeBob Ready for Ramen: a rich, creamy tonkotsu broth. Patrick Miso Hungry: a miso-flavoured cup with bold flavour. Squidward Showstopping Shoyu: a umami-forward shoyu flavour. All cups are vegan, contain no added MSG, have lower sodium than comparable brands, and can be prepared in three minutes. The ramen cups are available at Amazon and Walmart, priced at $26.99 per six-cup tray, with each tray sold by character.

US-based ingredient supplier Fiberstar has launched a citrus fibre designed to replace acacia gum in beverages, targeting manufacturers grappling with supply instability, ethical sourcing concerns and rising formulation risk linked to gum arabic. The new ingredient, Citri-Fi Pro, is positioned as a natural emulsification and stabilisation solution that can replace up to 75% of acacia gum or modified food starch in beverage formulations. Acacia gum, widely used in flavoured beverages, emulsified drinks and concentrates, is largely sourced from Sudan and neighbouring regions that have faced prolonged geopolitical instability. Disruption risks and heightened scrutiny around human rights and environmental impacts have pushed beverage companies to reassess their reliance on the ingredient. Fiberstar said the launch comes as food and drink manufacturers prepare for tighter supply-chain accountability requirements, including the proposed EU Corporate Sustainability Due Diligence Directive, which would require companies to identify and mitigate human rights risks across their sourcing networks. “Beverage makers are actively seeking alternatives as regulatory and ethical pressures reshape ingredient sourcing,” said John Haen, president and chief executive of Fiberstar. “Future access to acacia gum from conflict-affected regions is increasingly uncertain.” Citri-Fi Pro is derived from upcycled citrus fruit and produced using a physical process rather than chemical modification, according to the company. Fiberstar said the ingredient offers cost-in-use savings by reducing overall hydrocolloid requirements, while allowing brands to maintain beverage stability, mouthfeel and shelf life. The ingredient can be labelled as citrus fibre, dried citrus pulp or citrus flour, which may appeal to clean-label beverage brands seeking simpler declarations. It is allergen-free and gluten-free. For beverage manufacturers, the development highlights a broader shift away from single-origin, geopolitically exposed ingredients toward fibres and texturisers with more diversified and transparent supply chains. Fiberstar, a privately held company headquartered in Wisconsin, specialises in citrus-based fibres used across food and beverage applications, including drinks, dairy alternatives, sauces and pet food. Its Citri-Fi portfolio is already used by manufacturers seeking alternatives to modified starches and traditional gums.

European dairy company DalterFood Group has launched production at its new cutting and packaging facility for hard cheeses in Emilia-Romagna. The new plant, located in the heart of Italy’s renowned cheese-making region, is designed to increase production capacity, improve manufacturing efficiency and strengthen service levels for customers across domestic and international markets. Andrea Guidi, general manager of DalterFood Group, said: “The opening of the new plant marks an important step in our Group’s development path". Guidi continued: “2025 was an extraordinary year for us, with record revenues of €200 million, confirming the strength of our business model and the value of the work carried out by our entire team. The new packaging site in Parma is the next step on this journey: a strategic investment that enables us to increase production capacity and respond even more effectively to customer needs.” The facility will play a key role in supporting rising global demand for Italian cheeses, particularly Parmigiano Reggiano. The facility, acquired by DalterFood Group in 2022, underwent a €1 million modernisation and investment program in 2025, which included the installation of new packaging lines and extensive refurbishment works. The new plant is equipped with advanced technologies designed to meet the highest standards of food safety, product quality and operational efficiency. Sustainability was also a central pillar of the renovation, with investments aimed at improving energy efficiency, reducing environmental impact and promoting responsible supply chain practices. According to the company, the project reflects DalterFood Group’s long-term commitment to innovation, skills development and maintaining strong ties to the Emilia region – the historic heart of its cheesemaking tradition. The launch of the Emilia-Romagna plant reinforces the Group’s ambition to strengthen its role as a key European supplier of premium Italian cheeses while building a scalable platform for long-term international growth.