Canadian investment platform Fengate Private Equity has completed the acquisition of Saco Foods from Benford Capital Partners. Fengate partnered with Weathervane Investment to make the acquisition. Saco’s existing management team, led by CEO Tom Walzer, will continue to retain a significant equity interest in the company. In a busy week for Saco, it was announced today (24 January) that Saco had bought US baking ingredient brand Solo Foods from custom food ingredient manufacturer, Sokol. Saco was founded by the Sanna family in 1973 and its portfolio includes brands Dolci Frutta; California Sun Dry; Saco Pantry; and Hoosier Hill Farm. Founded in 1925, Solo brings its baking ingredient products to the Saco portfolio, including cake and pastry fruit fillings, almond paste and marzipan. Solo's products are sold in mass retailers in the US. In a statement, Saco Foods said the strategic move "brings together two industry leaders combining Saco Foods fresh, innovative approach and expertise with Solo Foods rich heritage". Jennifer Pereira, managing director, group head of private equity at Fengate, spoke of the firm's acquisition of Saco: “In the food and beverage sector, Saco is an excellent fit with our strategy of backing strong management teams and investing in trusted and enduring products with ample whitespace for growth”. Pereira said that Fengate will support the continued growth of Saco's existing brands through new product innovation, expanding into new categories and channels and further building the platform through acquisitions. Tom Walzer, Saco Foods' CEO, spoke of the company's purchase of Solo: "Solo's products are a perfect tuck-in to the Saco Pantry's centre-store baking line. We look forward to combining the resources of Saco's best-in-class shared services platform, along with cross-selling opportunities for Solo's products in eCommerce and traditional retail, to capitalise on the significant growth opportunities for the combined portfolio of brands." Solo Foods' national sales manager, Shannon Pimmel, added: "Saco will bring new energy and resources to the Solo brand and provide the opportunity to reach new bakers, bringing with it over a century of baking experience and tradition". Terms of both transactions were not disclosed.

Simson’s Pantry and Vegemite have partnered to release a limited-edition snack: Simson’s Pantry Vegemite Mini Wraps. Designed for convenience, these wraps are intended to be quick back-to-school snacks, combining the distinct Vegemite flavour with wholesome ingredients from Simson’s Pantry. They are tailored for families with busy schedules. Simson’s Pantry Vegemite Mini Wraps provide a versatile foundation for various recipes to energise kids during hectic school days or to create enjoyable snacks for the entire family. Jane Fraser, brand manager at Simson’s Pantry, said: “Here at Simson’s Pantry we’re passionate about making delicious food the whole family will love - collaborating with Vegemite to create a flavoursome twist on our much-loved mini wraps gives families another choice”. In a collaboration earlier this month, Vegemite joined forces with the Bega Group to introduce a Vegemite cream cheese. For a limited release, Simson’s Pantry Vegemite Mini Wraps will make their debut on January 24th, available solely at Coles Supermarkets.

Heaven Hill Brands has announced it will cease bottling operations at its Black Velvet whisky distillery in Lethbridge, Alberta, Canada. Known for its offerings – such as Burnett’s vodkas, dry gin and Admiral Nelson’s spiced rum – Heaven Hill Brands purchased the Canadian whisky brand in 2019. Debbie Morris, chief operations officer of Heaven Hill Brands, explained: “After extensive deliberation and a comprehensive financial analysis, Heaven Hill Brands has made the challenging decision that revitalising on-site bottling operations is financially unfeasible”. A decline in production prompted the decision to halt operations, with Morris pointing to “ageing equipment” and a lack of investment by the previous owners of the bottling facility as contributing factors. The bottling operation is slated to relocate to Kentucky, US, and employees affected by the closure in Lethbridge will be offered "free outplacement services." Despite the discontinuation of bottling operations, Heaven Hill Brands affirms that distilling activities will persist in the city, emphasising the brand's unwavering commitment to ongoing success. Describing the decision to keep the distilling process in Lethbridge as strategic, the company asserts that the Black Velvet brand remains robust. The closing of the bottling site is anticipated to be in the last week of February. However, Heaven Hill has yet to confirm a specific date.

Revl Fruits, a new premium juice brand, has launched a line of 100% juice blends infused with coconut water. The range is available in four flavours: Boldly Cran, featuring the natural richness of cranberries with low sugar; Tart Cherry, providing consumers with a tart flavour; Berry Wild, a fusion of cranberry, pomegranate and açaí; and Truly Tropical, a blend of pineapple and mango. The juices contain 25% less sugar "compared to the leading brand of 100% juice," said the brand. Christina Zwicky, head of brand marketing for Revl Fruits, said: "For a long time, consumers have been forced to choose between products that fit their wellness lifestyle and meet their sustainability values while conceding on taste, joy, and value. Revl Fruits believes that premium juice doesn't have to mean heavy glass bottles, excessive pricing, a boring experience or lacklustre taste." Revl Fruits is available on Amazon and select Save Mart locations, with SRPs ranging from $4 to $8. Additionally, the range will be expanding to more retail stores throughout 2024.

UK foodservice company Compass Group has agreed to acquire hospitality services provider CH&CO. According to Reuters, the deal is valued at £475 million, including debt, making it the company's largest acquisition in Europe to date. CH&CO operates in the UK and Ireland, offering services in workplace catering, events, venues, visitor attractions, stadia, education, healthcare and hospitality. It provides catering services to venues such as London's Royal Opera House, Abbey Road Studios and the Royal Botanic Gardens at Kew in London. The company has 10,000 employees supporting over 900 clients across 1,000 locations. The acquisition aims to leverage the strengths of both companies, "including their shared passion for food, client-centric approach, strong people-focused culture and commitment to sustainability," said Compass Group. The combined business holds the potential to accelerate innovation, elevating both client and customer experiences while offering expanded career progression opportunities for employees. Upon completion of the transaction, the plan is for CH&CO's portfolio of companies – which includes Gather & Gather, Vacherin and Company of Cooks – to become part of Compass Group's family of brands. Robin Mills, CEO of Compass Group UK & Ireland, said: “I have always admired CH&CO and its real passion for food. I believe that by combining our strengths, the proposed acquisition will bring a multitude of benefits to clients, customers and employees. Together, we have the potential to create even more compelling and innovative solutions for our clients and customers, as well as a wider range of career opportunities for our talented people in both organisations.” Bill Toner, CEO of CH&CO, added: “We’re delighted that Compass wants to acquire CH&CO. The prospect of joining a leading global provider of food services offers huge potential for us and our clients. Creativity and innovation are skills that we share with Compass, and food is at the heart of everything we do." “Both businesses have strong and complementary brands, and subject to regulatory approval, there is a great opportunity for us to learn from each other and to build an even more exciting future together.”

Global fresh fruit producer and distributor Unifrutti Group has acquired Verfrut, a fresh produce grower and exporter with operations in South America. Established in 1996, Verfrut is present in Chile and Peru, where it operates more than 7,500 hectares of fully integrated farming and processing facilities. Verfrut grows a variety of crops including grapes, cherries, apples and blueberries. It claims to be the largest exporter of grapes in Peru, with a commercial and distribution network in the US, Europe, South America and China. Unifrutti says the acquisition will help it expand its integrated and sustainable global multi-fruit platform, with the deal strategically extending Unifrutti's reach into Peru, a key hub in the fresh produce sector. The move aligns with Unifrutti's objective to meet the increasing global demand for premium high-quality fruits, providing consumers with access to a wider range of premium produce with consistent, secure and diversified supply. Mohamed Elsarky, group CEO of Unifrutti, said: "Our acquisition of Verfrut is a strategic milestone, propelling Unifrutti's growth and reinforcing our commitment to excellence and innovation. This expansion not only enhances our current operations but also paves the way for future growth, as we aim to become the preeminent and most sustainably driven global multi-fruit company, setting new standards in the industry.” Romano Vercellino, founder and president of Verfrut, commented: "We are making an excellent decision with this transaction. Verfrut is our life. After many years of hard work together with our great team, we are confident that Unifrutti will maintain our values that have guided us since the establishment of Verfrut. We look forward to the next stage of our successful journey." Once the deal is completed, Unifrutti will maintain Verfrut's global operations. Completion of the acquisition is subject to the satisfaction of closing conditions including regulatory approvals.

US organic dairy company Straus Family Creamery has launched a new range of organic low-fat kefirs, available in plain and blueberry flavours. The drinks are packaged in the brand's reusable glass bottles, aligning with the company's commitment to climate-resilient practices, sustainable organic farming and zero-waste goals. Straus' kefirs start by slowly fermenting whole and non-fat milk, blending them to produce a creamy 2% low-fat milk. Straus Family Creamery highlighted: "Similar to Straus yogurts, it is vat-set with live and active cultures and incubated just long enough to create a clean, balanced and perfectly tart cultured flavour". Avoiding ultra-pasteurization, this process results in a rich, sweet-fresh flavour and smooth, creamy texture. Both flavours contain 11 live and active cultures with billions of CFUs per serving. The kefirs also carry six nutrient claims, being a good source of protein, high in calcium and low in fat, saturated fat, cholesterol and sodium. The plain flavour is unsweetened with no added sugars. Meanwhile, the blueberry variant includes real organic blueberries and 5g of added sugar per serving, which Straus Family Creamery claims is "less than other leading brands". It also contains prebiotics and provides 20% of the recommended daily value of calcium. Albert Straus, founder of Straus Family Creamery, said: “We always intended to have a great-tasting kefir that meets our sustainability and flavour goals. Like all of our products, the kefir reflects the high quality of the milk from our community of local family farms. Developing new organic dairy options for our customers allows us to further support our mission of sustaining family farms and the communities that depend on them.” Straus' kefirs will be found at selected Whole Foods and independent natural grocers in Northern California from late January, expanding to Sprouts Farmers Markets and other independent stores from mid-February, with an SRP of $6.49 per bottle.

Tirlán has announced that Jim Bergin will retire from his position as CEO on 31 July this year, with Seán Molloy, current chief ingredients and agribusiness officer, set to succeed him. The dairy co-op, which was formerly known as Glanbia Cooperative and Glanbia Ireland, said the announcement followed "a comprehensive recruitment process," that was initiated in June 2023 when Bergin informed the board of his retirement plans. In 2021, Tirlán announced it'd become an independent company, when the Irish dairy and ingredients company divested its remaining 40% stake in Glanbia Ireland to Glanbia Cooperative Society in a €307 million deal. Molloy first joined Glanbia in 2006, where he held senior management positions, including director of strategy and supplier relations from 2006 to 2018 and chief agribusiness officer from 2018 to 2021. He will assume the role of Tirlán's CEO on 1 August. John Murphy, chairperson of Tirlán, said: “On behalf of the board, our farm families and the 2,300 employees of Tirlán, I wish to express our deep gratitude to Jim for his huge contribution to our organisation over the course of his 40-year career. He can be particularly proud of his success in establishing Tirlán as an independent, 100% farmer-owned co-op, culminating in the €307 million buyout of the Glanbia Ireland business.” “Highly respected for his authentic leadership style, and for his advocacy on behalf of Irish farmers, Jim always remained true to his farming roots and relished his engagement with our 5,000 farm families. In recent years, he has successfully overseen the investment of €600 million by our organisation to expand milk processing capacity, which facilitated significant growth in milk output at the farm level following the abolition of EU milk quotas in 2015. This now results in annual milk and grain payments from Tirlán of €2 billion, which, based on an analysis by EY, supports 19,000 jobs in the rural economy.” He added: “Seán has a tremendous track record of delivery within the organisation. He played a central role in the transformation of the business, culminating in the formation of Tirlán. Seán has led award-winning innovation projects and built strategic relationships with leading international customers. An excellent communicator, he is highly respected by his colleagues and is renowned for his deep knowledge of the agricultural sector. From a farming background in Co. Offaly, he is passionate for the well-being of Tirlán farm families. “It is an appropriate time for leadership transition at the co-op with the business in a very strong financial position, led by an excellent team.” Bergin commented: “It has been a unique privilege to play a leadership role in what has been ‘my local co-op’ for 40 years. The close engagement of our farmer shareholders and customers with our workforce brings a unique level of accountability and dialogue which I enjoyed greatly. Having commenced my career in a co-op, transitioned to a plc for 34 years and progressed to a co-op again in 2021, has been a wonderful corporate adventure while the organisation created €2 billion of additional value for our farm families. The greatest constant has been the wonderful people I’ve met and the lifelong friends I have made.” “I would like to wish my colleague Seán every success as he takes the helm later in 2024, and I look forward to working with him on the transition over the coming months. I know how passionate and committed he is to Tirlán and our farm families, and I have no doubt he will drive the Co-op forward with the support of a great team.” Molloy stated: “I look forward to leading our superb team, and I am grateful to the board for placing its trust in me. I extend particular appreciation to Jim Bergin for his mentorship and support over the past 18 years. As we navigate the opportunities and challenges ahead in partnership with my 2,300 colleagues, I will focus on what is important to our farm families and customers as we lead an ambitious business into the future.”

Nestlé has introduced the first KitKat made with cocoa mass from beans grown by farmer families participating in the company's income accelerator programme. The company aims to connect consumers with the farmers in the programme and raise awareness about the sustainability of the cocoa used in its KitKat bars. The initiative, launched in January 2022, aims to address income disparity among cocoa-farming families and mitigate the risk of child labour. Additionally, it strives to advocate and implement enhanced agricultural practices while promoting gender equality. Farming families involved in the programme receive aid in adopting sound agricultural methods, participating in agroforestry endeavours, diversifying their income sources and sending their children to school. Nestlé's income accelerator initiative has already made a positive impact on over 10,000 families in Côte d'Ivoire, West Africa, with plans to expand its outreach to Ghana this year, benefiting a total of 30,000 families. Nestlé envisions that by 2030, the programme will bring about substantial and widespread improvements, reaching approximately 160,000 cocoa-farming families within Nestlé's global cocoa supply chain. To achieve this objective, Nestlé has forged partnerships with diverse collaborators and suppliers, including the Rainforest Alliance, in an effort to transform its global cocoa sourcing methods. The aim is to achieve complete traceability and physical segregation of cocoa obtained through its income accelerator programme. This involves the ability to monitor the entire journey of cocoa beans, ensuring they are kept physically separate from other cocoa sources, from their origin to the factory. The cocoa mass from the income accelerator programme adheres to one of the highest traceability standards, ensuring 'mixed identity preserved' traceability, enabling cocoa to be traced and stored separately. In addition, by mid-2024, Nestlé plans to use segregated cocoa butter for all its KitKat chocolate in Europe, with plans to expand to other regions in the future. Corinne Gabler, head of confectionery and ice cream for Nestlé, said: "KitKat has consistently embraced innovation, centred around its iconic 'Have a break, Have a KitKat.' Today, this innovation is brought to life through the Breaks for Good initiative that puts cocoa farmers at the centre of our product through our income accelerator programme. We couldn't think of a better brand than KitKat to represent our efforts to create a meaningful impact in cocoa communities." Thierry Touchais, manager of strategic accounts for the Rainforest Alliance, commented: "We're delighted to collaborate with Nestlé on their journey towards more sustainable cocoa sourcing. It's encouraging to find a company of this scale using a 'mixed identity preserved' model in which cocoa can be traced back to Rainforest Alliance-certified farmers engaged in Nestlé's income accelerator. The approach showcases the potential for positive change in the industry." The KitKat Breaks for Good are available at retailers in 27 European countries and launch in the UK in May. In addition, a limited-edition KitKat, with 70% dark chocolate that is also made with cocoa sourced from the income accelerator, has been launched in the UK market as a pilot.

Jelly Belly has announced the launch of three new ranges of Jellybean products, including the 7th edition of BeanBoozled, a Harry Potter range and a Boba tea range. BeanBoozled is a bean-based game where players take chances on the flavour of the beans they eat. The corresponding bean pairs look identical, adding an element of surprise, as consumers may end up with an unpleasant taste. The upcoming 7th edition introduces new flavours such as wet dog/top banana, burnt rubber/liquorice, liver and onions/cappuccino, old bandage/pomegranate, stink bug/toasted marshmallow, stinky socks/Tutti-Frutti, booger/juicy pear, dead fish/strawberry banana smoothie, toothpaste/berry blue and barf/peach. These flavours will become part of the existing product line-up, set to be available starting in May. The company is also expanding its Harry Potter range, designed to be seasonal treats. The new product line-up includes the Marauder’s Map Advent Calendar, featuring flavours such as blueberry, banana, candyfloss, cherry, cinnamon, green apple, lemon, marshmallow, Tutti-Frutti and watermelon. Additionally, there are the Mini Butterbeer Glass Mug, a small glass mug filled with Butterbeer-flavoured beans and the Honeydukes tin, a collectible tin with multiple bean flavours. These products are aimed to fit the festive season and are due to be released in August. The new Harry Potter range also includes the Pumpkin Juice bottle, a glass bottle filled with pumpkin pie-flavoured beans, set to be released for Halloween/autumn at the end of June. Jelly Belly is also launching a Boba milk tea range with a gift box, two sizes of treat bags and a glass cup keychain. The flavours include mango milk tea, taro milk tea, matcha milk tea, strawberry milk tea and Thai milk tea. The Boba milk tea range is available now.

Bone broth brand Freja has announced a new £2 million funding round with support from industry leaders and sports personalities. The round involves investment from prominent figures in the FMCG industry, such as Paul Polman of Unilever and Giles Brook from Whitespace and Vita Coco. Additionally, brand founders Joanna Jensen of Child's Farm and Sally Preston of Kiddylicious are contributing. Institutional investors, including Active Partners, Founders Capital, Syndicate Room and Mint Ventures, are also participating in the investment. The brand has also attracted investment from sports figures Harry Kane and Alistair Brownlee. Founded in March 2020, the brand has seen substantial growth at a rate of 400% per year. Freja’s product range is made from entirely natural ingredients, offering a homemade-style flavour and a 24-month shelf life. The protein- and collagen-rich broths are a source of amino acids and minerals such as calcium and magnesium. Bone broth is used to address various health concerns, including gut health, immune system support, fertility and menopause symptoms. Jess Higgins, founder of Freja, said: “This is our most significant fundraise, and one we believe will not only help us accelerate our growth here in the UK but support our international expansion, taking us one step closer to our goal of becoming the number one Bone Broth brand in Europe. We have had the most phenomenal start to our journey, but it’s just the beginning for us, and to have so many incredible people on board as we embark on the next phase demonstrates the size of the exciting opportunity ahead.” Giles Brook commented: “I’m delighted to join the bone broth revolution and help Ed & Jess grow Freja to its true potential. Consumers are increasingly adopting bone broth into their daily routines, and when you consider the variety of consumer needs and occasions that bone broth transcends, the projected scalability is vast. Consequently, bone broth is tipped to become a leading ‘power category’ within the next wave of consumer trends that will fuel future food and beverage market growth." Freja's range – which includes beef, chicken, fish and vegan options – is available in 500ml cartons through online platforms and retailers such as Ocado, Selfridges, Booths and Wholefoods.

IFF has announced it is partnering with environmental NGO Bellona in a long-term project to restore seaweed forests in northern Norway. Through the ‘Norwegian Marine Restoration’ (NoMaRe) project, IFF and Bellona aim to restore 5,000 square kilometres of seaweed forest, through managing invasive sea urchin predation. According to IFF, the regrowth of the forests could increase biological carbon sequestration by 12 million tons – the equivalent of Norway’s total oil and gas industry emissions in 2021. Seaweed forests are widely considered as one of the Earth’s most important natural environments but face challenges on a global scale. Norwegian seaweed forests are home to over 300 species of invasive sea urchins. During the 1970s, human activity removed many of the urchin larvae’s natural predators, which enabled urchins to increase in high numbers, converting the northern Norway seaweed forests into “desert-like urchin barrens”. This has caused ecological ripple effects on the biomass of native animals and plants, including limiting opportunities for seaweed harvesting. Renee Henze, chief sustainability officer at IFF, said: “As one of the largest global users of seaweed for alginates and carrageenan, we are proud to be an initiator of this major project. Alginate from Norwegian seaweed is used in pharmaceutical applications, dietary supplements and food, including new plant-based meat alternatives. Increasing advocacy for the often-forgotten seaweed forest is key to mitigating the effects of climate change, while creating sustainable jobs and products globally.” IFF will provide financial support and its expertise in seaweed management to the NoMaRe project over a three-year period. In collaboration with the Norwegian government, scientific and research communities, the project will help to fund the creation of a dedicated platform to promote effective, scientifically proven urchin removal schemes and supplementary restoration efforts. Trond Helgerud, principal scientist and seaweed R&D leader at IFF’s Nourish division, commented: “The project has the potential to help Norway grow its marine economy by generating significant economic benefits every year, making sustainable seaweed one of the country’s biggest contributors to marine industries. That’s good for a greener economy and a greener planet.” Angela Strzelecki, president of pharma solutions at IFF, added: “In Norway, we have sustainably harvested seaweed for over 60 years, so we know how to maintain the forest. The habitats where we harvest thrive, and we hope the seaweed forest further north can do the same. NoMaRe shows that great things happen when businesses, NGOs, research communities and governments combine their forces, expertise and experience to help save the planet and create green jobs.” Joakim Hauge, director of bioeconomic at Bellona Foundation, concluded: “The Bellona Foundation is very happy to partner with IFF on the important issue of marine restoration. The team’s experience and knowledge will provide valuable contributions to this exciting partnership. I am confident that IFF and The Bellona Foundation jointly will achieve very real progress for climate and the environment, in restoring marine biodiversity and ecosystems, while at the same time increasing biological carbon storage.”