Ingredion has completed the sale of its business in South Korea to an affiliate of the Sajo Group, a Seoul-based food company. The transaction, announced in November and now concluded, amounts to around $294 million. On 1 February, Ingredion received $247 million after subtracting transaction costs and expects to receive the remaining $47 million over the next three years. Jim Zallie, president and chief executive officer of Ingredion, said: “The sale of our business in South Korea is an important step for Ingredion as we reshape our portfolio to unlock value and redeploy assets, creating value for shareholders. This action is part of our business transformation journey that further strengthens our focus on growth and supports our long-term strategic vision.” In the entirety of 2023, Ingredion's operations in South Korea reported unaudited net sales of $325 million. You may also like to read: Ingredion launches drinkable porridge to combat malnutrition in Kenya Ingredion introduces new stevia solutions Ingredion debuts citrus-based dietary fibres

Ingredion has completed the sale of its business in South Korea to an affiliate of the Sajo Group, a Seoul-based food company. The transaction, announced in November and now concluded, amounts to around $294 million. On 1 February, Ingredion received $247 million after subtracting transaction costs and expects to receive the remaining $47 million over the next three years. Jim Zallie, president and chief executive officer of Ingredion, said: “The sale of our business in South Korea is an important step for Ingredion as we reshape our portfolio to unlock value and redeploy assets, creating value for shareholders. This action is part of our business transformation journey that further strengthens our focus on growth and supports our long-term strategic vision.” In the entirety of 2023, Ingredion's operations in South Korea reported unaudited net sales of $325 million. You may also like to read: Ingredion launches drinkable porridge to combat malnutrition in Kenya Ingredion introduces new stevia solutions Ingredion debuts citrus-based dietary fibres

Big Idea Venture's Generation Food Rural Partners (GFRP) has expanded its portfolio with an agreement to acquire Pittsburgh-based edible packaging company DisSolves. DisSolves has created a patented technology employing biodegradable and edible elements, certified as Generally Recognised As Safe (GRAS). This technology produces films and packaging materials suitable for various applications, such as encapsulants, nutraceuticals and different types of pods. These materials dissolve in water, milk and juice without altering their original taste and are conveniently packaged in small units for easy use. Frank Klemens, managing director of the GFRP fund, said: “The GFRP team is thrilled to welcome DisSolves into our family of innovative companies. DisSolves is bridging technology and food packaging to create solutions that are critical to reducing the impact of legacy packaging systems across many segments of the food supply chain. We are excited to work with Jared to advance his innovations in edible films and bring his unique vision to the market.” DisSolves founder Jared Raszewski will remain with DisSolves as chief product officer, continuing development and commercialisation of these materials. Raszewski commented: “DisSolves was founded to reimagine food packaging in a way that’s both safe and environmentally friendly. Thanks to the fund’s resources and support, we’ll be able to fulfil pilot programmes with some of the largest food producers in the industry. This will lead to scaled manufacturing for the first all-natural dissolvable food packaging.” The GFRP Fund was launched by Big Idea Ventures and assesses intellectual property centred on advancements in the agriculture, food and protein sectors. It allocates investments towards establishing new enterprises built upon research with significant potential for widespread commercial success. These emerging companies will be based in rural communities, generating well-paying jobs to stimulate economic growth and development. The transaction marks a successful exit for DisSolves’ investors, including Innovation Works. Financial details of the transaction have not been disclosed.

Big Idea Venture's Generation Food Rural Partners (GFRP) has expanded its portfolio with an agreement to acquire Pittsburgh-based edible packaging company DisSolves. DisSolves has created a patented technology employing biodegradable and edible elements, certified as Generally Recognised As Safe (GRAS). This technology produces films and packaging materials suitable for various applications, such as encapsulants, nutraceuticals and different types of pods. These materials dissolve in water, milk and juice without altering their original taste and are conveniently packaged in small units for easy use. Frank Klemens, managing director of the GFRP fund, said: “The GFRP team is thrilled to welcome DisSolves into our family of innovative companies. DisSolves is bridging technology and food packaging to create solutions that are critical to reducing the impact of legacy packaging systems across many segments of the food supply chain. We are excited to work with Jared to advance his innovations in edible films and bring his unique vision to the market.” DisSolves founder Jared Raszewski will remain with DisSolves as chief product officer, continuing development and commercialisation of these materials. Raszewski commented: “DisSolves was founded to reimagine food packaging in a way that’s both safe and environmentally friendly. Thanks to the fund’s resources and support, we’ll be able to fulfil pilot programmes with some of the largest food producers in the industry. This will lead to scaled manufacturing for the first all-natural dissolvable food packaging.” The GFRP Fund was launched by Big Idea Ventures and assesses intellectual property centred on advancements in the agriculture, food and protein sectors. It allocates investments towards establishing new enterprises built upon research with significant potential for widespread commercial success. These emerging companies will be based in rural communities, generating well-paying jobs to stimulate economic growth and development. The transaction marks a successful exit for DisSolves’ investors, including Innovation Works. Financial details of the transaction have not been disclosed.

UK supermarket chain Morrisons has agreed a £2.5 billion deal to sell its 337 petrol forecourts to Motor Fuel Group (MFG). The proposed transaction – which includes fuel, convenience retail kiosk and ancillary services – forms a new strategic partnership between the two companies. As part of the deal, Morrisons will take a minority stake of approximately 20% in MFG and will enter into commercial and supply agreements with the company. The deal will see an investment to expand and improve the convenience retail proposition, with a focus on enhancing the retail and food-to-go environment. Additionally, Morrisons will continue to supply food and groceries across all of the petrol forecourts, with the opportunity to expand its supply into the MFG estate over the medium term. The deal will position MFG as the UK’s number two convenience store operator serving communities across the country. Morrisons will use the proceeds of the sale to fund further investment in the grocery and food-making businesses, as well as strengthening its capital structure.

UK supermarket chain Morrisons has agreed a £2.5 billion deal to sell its 337 petrol forecourts to Motor Fuel Group (MFG). The proposed transaction – which includes fuel, convenience retail kiosk and ancillary services – forms a new strategic partnership between the two companies. As part of the deal, Morrisons will take a minority stake of approximately 20% in MFG and will enter into commercial and supply agreements with the company. The deal will see an investment to expand and improve the convenience retail proposition, with a focus on enhancing the retail and food-to-go environment. Additionally, Morrisons will continue to supply food and groceries across all of the petrol forecourts, with the opportunity to expand its supply into the MFG estate over the medium term. The deal will position MFG as the UK’s number two convenience store operator serving communities across the country. Morrisons will use the proceeds of the sale to fund further investment in the grocery and food-making businesses, as well as strengthening its capital structure.

Britvic has announced that as of yesterday (1 February), 75% of the electricity used in the production of its soft drinks in Great Britain – such as Fruit Shoot, Tango, Robinsons and J2O – is coming from a 160-acre solar farm in Northamptonshire in the East Midlands, UK, cutting over 1,000 tonnes of carbon dioxide a year. The ten-year solar power agreement – which provides clean energy to UK factories in Rugby, London and Leeds – covers three-quarters of Britvic's electricity needs in the country, with the aim of reaching 100% solar-powered operations in the near future. The solar site, which was commissioned last month and is now operational, will produce 3.3-gigawatt hours (GWh) of power, sufficient to power approximately 11,500 homes. This has the potential to reduce up to 1,113 tonnes of carbon dioxide from Britvic's supply chain annually. Collaborating with renewable energy provider Atrato Onsite Energy, the 650,000-square-metre solar installation is set to expand its capacity, reaching 27 GWh. This initiative aligns with Britvic's commitment to achieve net-zero carbon emissions by 2050. Sarah Webster, Britvic’s director of sustainable business, said: “This is an exciting opportunity to ensure that some of the country’s most recognisable and much-loved soft drinks are powered by renewable energy. We know consumers want to buy more sustainable products, and this is another step towards reducing carbon emissions and our long-term sustainability targets.” The project uses a former quarry site deemed unsuitable for farming. It incorporates double-sided solar panels that use tracking devices to follow the sun, resulting in a 10% increase in efficiency. Gurpreet Gujral, managing director of renewable energy at Atrato Group, commented: “We are thrilled to complete this landmark and unique agreement with Britvic, reducing carbon emissions while delivering attractively priced energy. Our business model is all about designing unique structures for clients tailored to their energy consumption needs and real estate site constraints, while delivering on sustainability targets and lower energy costs.” Chris Bowden, managing director of Squeaky Clean Energy, added: “Having pioneered the use of corporate power purchase agreements in the UK it has become abundantly clear that new and innovative contracting structures are needed to accelerate the transition to clean energy. The Squeaky team is incredibly proud to have scored another clean energy first with a unique power purchase agreement arrangement that enables Atrato to de-risk the financing of its project and Britvic to deliver on its Healthier People, Healthier Planet sustainability mission.”

Britvic has announced that as of yesterday (1 February), 75% of the electricity used in the production of its soft drinks in Great Britain – such as Fruit Shoot, Tango, Robinsons and J2O – is coming from a 160-acre solar farm in Northamptonshire in the East Midlands, UK, cutting over 1,000 tonnes of carbon dioxide a year. The ten-year solar power agreement – which provides clean energy to UK factories in Rugby, London and Leeds – covers three-quarters of Britvic's electricity needs in the country, with the aim of reaching 100% solar-powered operations in the near future. The solar site, which was commissioned last month and is now operational, will produce 3.3-gigawatt hours (GWh) of power, sufficient to power approximately 11,500 homes. This has the potential to reduce up to 1,113 tonnes of carbon dioxide from Britvic's supply chain annually. Collaborating with renewable energy provider Atrato Onsite Energy, the 650,000-square-metre solar installation is set to expand its capacity, reaching 27 GWh. This initiative aligns with Britvic's commitment to achieve net-zero carbon emissions by 2050. Sarah Webster, Britvic’s director of sustainable business, said: “This is an exciting opportunity to ensure that some of the country’s most recognisable and much-loved soft drinks are powered by renewable energy. We know consumers want to buy more sustainable products, and this is another step towards reducing carbon emissions and our long-term sustainability targets.” The project uses a former quarry site deemed unsuitable for farming. It incorporates double-sided solar panels that use tracking devices to follow the sun, resulting in a 10% increase in efficiency. Gurpreet Gujral, managing director of renewable energy at Atrato Group, commented: “We are thrilled to complete this landmark and unique agreement with Britvic, reducing carbon emissions while delivering attractively priced energy. Our business model is all about designing unique structures for clients tailored to their energy consumption needs and real estate site constraints, while delivering on sustainability targets and lower energy costs.” Chris Bowden, managing director of Squeaky Clean Energy, added: “Having pioneered the use of corporate power purchase agreements in the UK it has become abundantly clear that new and innovative contracting structures are needed to accelerate the transition to clean energy. The Squeaky team is incredibly proud to have scored another clean energy first with a unique power purchase agreement arrangement that enables Atrato to de-risk the financing of its project and Britvic to deliver on its Healthier People, Healthier Planet sustainability mission.”

Echo Falls has expanded its Fruit Fusion portfolio with the introduction of a watermelon and kiwi-flavoured wine. According to the brand, the Watermelon & Kiwi Fruit Fusion, with a 9% ABV, taps into "a demand for RTD cocktails and sweet ciders" to attract "existing consumers of these popular products towards fruit wines". Maggie Applegate, brand manager of Echo Falls, said: “We’re pleased to go above and beyond for Booker customers with this exclusive launch of a delicious new flavour. We recognise that retailers looking to attract young shoppers must be able to rely on Echo Falls, and expanding our Fruit Fusion range ensures they can do just that through their wholesaler.” The new flavour will be exclusively available at Booker Wholesale from March to May for an RRP of £5.50.

Echo Falls has expanded its Fruit Fusion portfolio with the introduction of a watermelon and kiwi-flavoured wine. According to the brand, the Watermelon & Kiwi Fruit Fusion, with a 9% ABV, taps into "a demand for RTD cocktails and sweet ciders" to attract "existing consumers of these popular products towards fruit wines". Maggie Applegate, brand manager of Echo Falls, said: “We’re pleased to go above and beyond for Booker customers with this exclusive launch of a delicious new flavour. We recognise that retailers looking to attract young shoppers must be able to rely on Echo Falls, and expanding our Fruit Fusion range ensures they can do just that through their wholesaler.” The new flavour will be exclusively available at Booker Wholesale from March to May for an RRP of £5.50.

Puratos UK, a supplier of bakery, patisserie and chocolate ingredients, has launched a sourdough solution made with regeneratively farmed flour. The latest innovation in its Sapore range of living and inactive sourdoughs, ‘Sapore Sally’ is a living sourdough designed to help large bakeries to diversify their portfolios with locally-produced, sustainably-sourced sourdough products. Sapore Sally has a creamy, slightly tangy taste and can be used to naturally enhance the flavour of a standard bread or, when combined with a sourdough starter, adapts the flavour of a sourdough bread. The regeneratively farmed flour used to create the product is from UK-based supplier Wildfarmed. The launch comes as UK consumers become increasingly conscious of their food choices. 71% think that food made with local ingredients has a positive impact on the environment, according to the latest Taste Tomorrow research. Wildfarmed works with over 100 farmers across the UK and France, who embrace regenerative approaches to improve farm biodiversity and soil condition. All of the supplier’s crops are grown without the use of pesticides, and all growers – who are independently audited – must adhere to a robust set of the Wildfarmed Regenerative Standards. This sustainable farming method means that ecosystems are restored and protected, and soil is revitalised and nourished. Philippa Knight, marketing director at Puratos UK, said: “Consumer demand for traditional ingredients like sourdough shows no sign of slowing down, and the craving for natural, healthy breads is palpable. But we also need to look to the future and how we can lessen the impact that food production has on the environment.” She added: “Sapore Sally is one such solution, acting as a springboard for more responsibly manufactured bakery products and offering customers and consumers ‘seed to sourdough’ transparency”. Wildfarmed’s NPD manager, Rachel Stonehouse, said that by adding Wildfarmed flour to a product as part of the live, slow-fermented sourdough, it allows the “complex and unique flavours and aromas” of Wildfarmed flour to shine through, resulting in products that “taste better and are better for the planet”.

Puratos UK, a supplier of bakery, patisserie and chocolate ingredients, has launched a sourdough solution made with regeneratively farmed flour. The latest innovation in its Sapore range of living and inactive sourdoughs, ‘Sapore Sally’ is a living sourdough designed to help large bakeries to diversify their portfolios with locally-produced, sustainably-sourced sourdough products. Sapore Sally has a creamy, slightly tangy taste and can be used to naturally enhance the flavour of a standard bread or, when combined with a sourdough starter, adapts the flavour of a sourdough bread. The regeneratively farmed flour used to create the product is from UK-based supplier Wildfarmed. The launch comes as UK consumers become increasingly conscious of their food choices. 71% think that food made with local ingredients has a positive impact on the environment, according to the latest Taste Tomorrow research. Wildfarmed works with over 100 farmers across the UK and France, who embrace regenerative approaches to improve farm biodiversity and soil condition. All of the supplier’s crops are grown without the use of pesticides, and all growers – who are independently audited – must adhere to a robust set of the Wildfarmed Regenerative Standards. This sustainable farming method means that ecosystems are restored and protected, and soil is revitalised and nourished. Philippa Knight, marketing director at Puratos UK, said: “Consumer demand for traditional ingredients like sourdough shows no sign of slowing down, and the craving for natural, healthy breads is palpable. But we also need to look to the future and how we can lessen the impact that food production has on the environment.” She added: “Sapore Sally is one such solution, acting as a springboard for more responsibly manufactured bakery products and offering customers and consumers ‘seed to sourdough’ transparency”. Wildfarmed’s NPD manager, Rachel Stonehouse, said that by adding Wildfarmed flour to a product as part of the live, slow-fermented sourdough, it allows the “complex and unique flavours and aromas” of Wildfarmed flour to shine through, resulting in products that “taste better and are better for the planet”.