Chinese bottled water producer Nongfu Spring is set to invest 5bn yuan (approx. $703 million) into a new factory in Jiande City, Zhejiang Province. The project will be implemented in two phases and multiple stages, expected to be completed within five years. It will cover production, processing and manufacturing, aiming to create a comprehensive industrial base for the production of drinking water and beverage products. Located in Jiande City’s Chengnan New District, the total land area of the project is approximately 666,667 square metres. The implementation of the facility’s construction will be subject to Nongfu Spring's successful acquisition of the state-owned land, to be obtained in the form permitted by laws and regulations. Nongfu Spring manufactures packaged beverage products in China, with products mainly covering categories such as drinking water, tea, juices and functional beverages. The company’s board of directors entered into an investment agreement on 31 December 2023 with the People’s Government of Jiande City, Zhejiang Province in relation to the project. The local government institution is responsible for planning, promoting and coordinating investment projects in Jiande City. The investment agreement aims to enable Nongfu Spring to continue to leverage the high-quality natural water resources of Thousand Island Lake, further expand production capacity and improve the ability to provide products and services for consumers.

HKScan Corporation has announced its decision to divest its Swedish subsidiary, HKScan Sweden AB, in a deal with Swedish agricultural cooperative Lantmännen ek för. Lantmännen, with net sales of €5.6 billion, is known for consumer brands such as Vaasan, Myllyn Paras, AXA, Start!, GoGreen and FINN CRISP. The transaction includes the sale of shares in HKScan Sweden AB for approximately €60 million in cash, along with the transfer of A and K shares in HKScan Corporation held by Lantmännen. Additionally, Lantmännen will settle an intragroup loan of around €50 million between HKScan Corporation and HKScan Sweden AB. To further streamline its financial structure, HKScan Corporation plans to reduce off-balance sheet factoring financing by about €55 million and IFRS 16 leasing liabilities by approximately €13 million. A prepayment of €25 million will be made upon signing the agreement, with the remaining balance to be paid at the closing of the transaction. The overall consideration, including shares, is valued at €5.5 million. Juha Ruohola, CEO of HKScan, said: "The divestment of the Swedish business will strengthen HKScan's balance sheet. In addition, the sale will allow us to better focus on our remaining businesses and implement our long-term strategy. We will continue to operate on our foundations as a strongly Finnish but internationally active listed company. Our market position is significant and we have strong brands. Our strategic goal is to grow into a versatile food company. ” The sale of the Swedish business will lead to changes in HKScan's financial reporting, with the Swedish operations classified as assets and liabilities held for sale and presented as discontinued operations in the 2023 financial statements. Notably, the Polish bacon unit, previously part of the Business Unit Sweden, will now be reported under the Business Unit Finland. The transaction is anticipated to close in the first half of 2024, contingent upon approval by the EU Commission and clearance by Swedish authorities for foreign direct investment control. HKScan’s Board of Directors will convene an Extraordinary General Meeting in early 2024 to seek approval for the transaction. Magnus Kagevik, Lantmännen’s group president and CEO, added: “This acquisition is strategically important for Lantmännen and for our members, active Swedish farmers. It broadens and strengthens our business portfolio and creates stronger long-term conditions for Swedish agriculture. Together with HKScan’s market-leading brands and knowledge, we see good opportunities for further developing our businesses.”

Chobani has introduced a new line of dessert-inspired Greek yogurts, called Chobani Creations. Chobani Creations is available in six flavours: Mocha tiramisu, which features whipped cream coffee-vanilla yogurt; Apple pie à la mode, boasts cinnamon-sugar apple chunks underneath vanilla ice cream-inspired yogurt; Cherry cheesecake, contains sweet black cherries swirl with a vanilla cheesecake-inspired yogurt; Orange cream pop, has natural orange swirls with a vanilla ice cream-inspired yogurt; Bananas foster, contains sweet caramelised banana pieces paired with a rich caramel yogurt; and caramel sundae, features Dulce de Leche caramel sauce underneath a vanilla ice cream-inspired yogurt. Niel Sandfort, chief innovation officer at Chobani, said: "By pairing our natural, nutrient-dense Greek yogurt with dessert-inspired flavours, we're stretching yogurt beyond the breakfast occasion. These flavour profiles, whether they be nostalgic like orange cream pop or decadent like mocha tiramisu, hit the spot in terms of food memory, sensory and satisfaction. With Chobani Creations, we're giving consumers a permissible, indulgent moment." Chobani Creations is made without artificial flavours, sweeteners or preservatives, as well as being "an excellent source" of protein, "a good source" of calcium and contains billions of probiotics and nine essential amino acids.

Capsa Food has taken full ownership of Lácteas Flor de Burgos after it first acquired a 50% stake in the Spanish dairy business in 2020. The remaining stake has been bought from Lactan Holding for an undisclosed sum and will see Capsa Food take control of a seventh factory, located in Burgos, Castilla Leon, Spain. Flor de Burgos is based in Condado de Trevino in northern Spain. It was founded in 2003 and manufactures cheese, milk, yogurt and cream. In a statement on LinkedIn, Capsa Food said: “With this operation, we will exceed €1 billion in turnover in the next financial year and 1,200 employees, reinforcing our commitment and presence in the cheese market”. Capsa Foods' CEO, José Armando Tellado Nogueira, commented: "Today we materialise a process that we began in 2020 and that aims to strengthen our leadership position in the Spanish dairy sector, redoubling our efforts to strengthen our presence in the cheese market. This acquisition motivates and excites us to continue working on the commitment acquired with our customers and consumers to continue offering them the best products and the best service."

Mochi brand Little Moons is set to broaden its Refreshos sorbet range with the introduction of a new flavour – Blood Orange & Pink Grapefruit. This zesty addition to the bite-sized mochi sorbet line-up is poised to hit shelves in January 2024, offering consumers a light and refreshing option in a convenient format. The latest flavour will join the existing sorbet favourites, including Very Berry and Pineapple & Mandarin, and will be available at major UK retailers such as ASDA and Morrisons, with an RRP of £5.00. Featuring a blend of tangy and citrusy notes, the new sorbet combines the distinct sweetness of blood oranges with the zesty tartness of pink grapefruit. The sorbet is encased in Little Moons' signature sweet, soft dough. Blood Orange & Pink Grapefruit Refreshos mochi sorbet is vegan, gluten-free, free from artificial additives and features a calorie count of 58 per ball. Since its debut in January 2023, Refreshos mochi sorbet bites have played a pivotal role for Little Moons and the broader ice cream category. The product has contributed to a 30% incremental growth, reflecting rising demand for lighter, portion-controlled snacks without compromising on quality or taste. Howard Wong, co-founder of Little Moons, said: "As innovators in the ice cream snacking space, our category-first Refreshos have provided shoppers with a fruity, delicious and portion-controlled snack that does not compromise on taste or quality". He added: "So we’re delighted to add another flavour to our portfolio, providing fans with another light and refreshing snack that can be enjoyed throughout the day and give them a little lift when they need it”.

Açaí brand Oakberry has raised BRL 325 million ($67 million) in a Series C funding round, aiming to accelerate the company's global expansion strategy. The round was raised through funds managed by the Brazilian investment bank BTG Pactual (BPAC11), the largest investment bank in Latin America, which also includes a portfolio of impact funds. Founded in 2016, the company currently operates around 700 stores in over 40 countries. The Brazilian-founded açaí brand expects to surpass $200 million in revenue and expand its global presence to nearly 1,000 stores by the end of this year. The capital will be used to accelerate Oakberry's global expansion strategy, "most notably through rapid growth in the United States market," said the company. Georgios Frangulis, CEO and co-founder of Oakberry, said: "We designed Oakberry to be a global brand with a strong footprint in the United States, and the investment from BTG Pactual brings not only a financial partner, but also a strategic partner with a keen focus on reinforcing our expansion. The strategy to invest in corporate stores in high-demand markets, like the United States, represents an excellent opportunity for capital allocation while, at the same time, establishing our brand in these regions."

Primo Water Corporation has completed the sale of a "significant portion" of Primo Water's International businesses. As reported by FoodBev in November, Primo Water entered into a definitive agreement with Culligan International to sell its international businesses in an all-cash transaction for $575 million. The transaction excludes the businesses of Aimia Foods in the UK, Portugal and Israel. However, each of these will be sold across 2024. Primo Water will have a greater focus on its North American water business, where it is one of the leading players on a national and local scale. The deal also aims to improve the company's financial profile, allowing it to achieve several previously announced 2024 targets, including improvements in adjusted gross margins and adjusted EBITDA margins, as well as adjusted free cash flow conversion. In addition, the sale will provide financial flexibility for pursuing organic growth, reducing leverage by repaying the cash flow revolver, returning capital through share repurchases and dividends, accelerating accretive tuck-in acquisitions and exploring opportunities complementary to its core North American water business. The business mix will be diversified across key water channels, including Water Dispensers, Water Direct, Water Exchange, Water Refill and Water Filtration, with a balanced distribution of residential and commercial customers. David Hass, chief financial officer, Primo Water, said: "The completion of this transformative transaction simplifies and focuses Primo Water on our core pure-play North American water business. Our greater focus also comes with the enhanced financial flexibility to pursue organic growth, reduce leverage, return capital via share repurchases and dividends, accelerate accretive tuck-in acquisitions and engage in opportunities complementary and adjacent to our core North American water business." "I am pleased to confirm that as part of our renewed commitment to lower net adjusted leverage and to return capital to shareowners, we will repay the outstanding balance on our cash flow revolver and the board of directors increased our $50 million share repurchase authorisation to a total of $75 million."

Mars has expanded its vegan Galaxy chocolate bar range with the launch of a new vegan fruit and nut bar, available now in the UK. The Galaxy vegan fruit and nut bar combines dairy-free milk chocolate with hazelnut paste, raisins and roasted hazelnuts. Galaxy introduced its first dairy-free line in 2019. The range includes popular flavours such as Smooth Orange and Caramel, as well as a vegan version of Galaxy’s classic Crumbled Cookie. In addition to a 100g bar, Galaxy Vegan Fruit and Nut is also available in a smaller 40g snack-sized format, designed to provide a convenient on-the-go treat for consumers. The new bar is available now at Morrisons stores across the UK.

Lavazza has partnered with French bakery café Paris Baguette to introduce a new coffee blend. The blend, which is Paris Baguette's first-ever packaged coffee available for in-café purchase, is a whole bean coffee offering. It is made with RFA-certified, sustainably grown, 100% Arabica beans. The Arabica Coffee blend offers a rich flavour containing sweet, chocolate undertones. Eric Galkin, VP and head of supply chain at Paris Baguette, said: "We are excited to deepen our partnership with Lavazza, a brand synonymous with excellence in the coffee industry. This collaboration represents a natural progression of our shared commitment to quality ingredients and innovation. Our customers can now enjoy the elevated and delicious flavours of Paris Baguette and Lavazza at home with a coffee blend that harmoniously complements our diverse menu of freshly baked pastries, cakes, and more." Jonathan Lehr, marketing director for Lavazza North America, added: "At Lavazza, we are proud to join forces with Paris Baguette to introduce the Paris Baguette Blend, crafted by Lavazza. This collaboration not only introduces a remarkable coffee blend to the market but also serves as a testament to our shared values and the belief that businesses can make a positive difference in the world." The blend is available for purchase at participating US Paris Baguette locations.

Branded Hospitality Group has announced the launch of its Fund-III, a $50m vehicle targeting emerging technology companies within the foodservice industry. Branded operates as an integrated platform that invests, supports and accelerates technology and emerging brands in the food, beverage and hospitality sector. The company has already completed more than 50 venture stage investments across its first two funds (closed in 2021 and 2023). Launching this month, Fund-III aims to present “an innovative twist to the usual venture model”. In a statement announcing the launch, Branded said that while typical early-stage fundraise processes tend to only target family offices, fund-of-funds and high net worth individuals, the LP base of Branded’s third fund will be comprised primarily by operators, owners and partners across the foodservice industry that Branded supports. Branded’s Fund-III will target between 20-25 strategic investments across customer engagement, supply chain, marketing, data and analytics, automation, financial and sustainability solutions. Jimmy Frischling, co-founder and managing partner at Branded, said: “We know firsthand from our partners and entrepreneurial founders that every aspect of the foodservice and hospitality industry is being affected through constant digitization and evolution”. He added: “By launching our third fund with a focus on an LP base that not only comes from this industry, but is also actively committed to transforming it, we know that we’ve created an ecosystem where a rising tide will lift all boats”.

In a strategic move to bolster its global footprint, Dutch-based Denkavit Group has acquired the Volac Milk Replacer business from the UK's Volac International Ltd. The deal, driven by a shared vision and values between the two companies, aims to propel the Milk Replacer business to new heights. David Neville, CEO Volac International Ltd, said: “Our Milk Replacer business is something we can be hugely proud of. We want that business to continue to flourish." He continued: "As our portfolio of products in Volac Animal Nutrition expands further into the Feed Additives area following the successful acquisition of Micron Bio-Systems in 2021, we want to build on the synergies this brings. We have made the decision to sell our Milk Replacer business to a leading player in that market who can give it the focus it deserves." "It was hugely important to us to sell to a company with similar ambition and values. We have enjoyed a healthy relationship with Denkavit over the years, and look forward to this new chapter and seeing them take the Milk Replacer business to the next level.” Erik Buys, CEO of Denkavit, added: “We are very excited to announce this important step for us. The Volac products impress us and, we believe them to be a valuable addition to our portfolio, as they are renowned for superior quality and therefore fit seamlessly into our Group." "This acquisition strongly supports our ambition for global leadership in the calf milk replacer industry, bringing us a strong position in the UK and Irish markets.” Volac's 'easy-mix' high-quality milk replacers enable farmers to enhance the nutrition and productivity of their livestock. The milk replaces provide a balanced and highly digestible source of nutrients for calves, promoting healthy growth and development. They also helps to reduce the risk of disease transmission compared to whole milk feeding. Completion of the acquisition will see Denkavit become the sole owner of the Volac Milk Replacer commercial organisation, along with the Volac Socoor business in Italy. However, the deal includes a provision for Volac to continue supplying and blending products for the home markets of the UK and Ireland. The partnership is anticipated to bring enhanced capabilities and resources to further elevate the Milk Replacer business on the global stage.

Global assurance partner LRQA is urging the food industry to establish solid foundations in food safety culture before fully embracing new technologies like AI. Despite the potential benefits of AI in enhancing efficiency across global food supply chains, LRQA emphasises the necessity of fostering a culture where food safety takes precedence at every stage of the supply chain. Jan Kranghand, global head of LRQA's Food Centre of Excellence, said: “Technological advances have the potential to revolutionise the way we approach food safety. AI systems could enable large amounts of data to be analysed to identify patterns and generate insights, while blockchain, which is an unchangeable digital record of transactions, promotes transparency by monitoring the movement of food products through the supply chain." He continued: “However, it’s important we put the foundations in place before we put all our faith in technology. Food is better than ever, but this cannot be taken for granted. The food industry must prioritise transparency, ensure it is collecting the right data and focus on creating a food safety culture.” Kranghand commented that many food businesses operate with a traditional, science-based approach that addresses food safety on a compliance basis: “Before organisations implement technologies such as AI, blockchain and the IoT (Internet of Things), they must first change the way they think". "Moving forward, this means evaluating processes and asking if current techniques are fit for purpose. Companies must understand what ‘best-in-class’ food safety is, with business leaders driving change from the top. Plus, by taking a step back to assess systems, processes, and procedures, gaps can be identified to achieve a harmonised risk-based approach.” He emphasises the need for a shift in mindset within the industry, urging organisations to evaluate existing processes and adopt a risk-based approach. Before implementing technologies like AI, blockchain and IoT, companies must first understand the concept of 'best-in-class' food safety, with leadership driving change from the top. The Global Food Safety Initiative (GFSI) defines culture as shared values, beliefs, and norms affecting mindset and behaviour toward food safety throughout an organization. Kranghand advocates for employee engagement, stating: “For an effective food safety culture, implementation requires employee engagement. It’s about clearly explaining not just what staff need to do, but why these protocols matter and what the consequences of falling short are. Doing this helps give teams ownership of food safety and ensures they feel more accountable for their actions.” He highlights the importance of explaining not only what staff need to do but also why these protocols matter and what the consequences of falling short are. To support organisations in implementing a strong food safety culture, LRQA recommends frameworks such as the Food Safety System Certification (FSSC 22000) and supply chain integrity programmes. These frameworks guide achieving a balanced approach that combines compliance with a holistic perspective. While acknowledging the role of technology in traceability and risk analysis, Kranghand emphasises that a cultural framework is vital. He envisions a combination of technologies providing end-to-end traceability, transforming risk analysis from reactive to proactive. This approach allows auditors to conduct a risk-based assessment rather than merely complying with scheme requirements.