Investment firm S-Ventures has announced its acquisition of Hero UK, trading as Juvela, from the Hero Group. Juvela is being acquired for a consideration of £8 million cash and 5 million new ordinary shares in UK-based S-Ventures. The company manufactures and distributes gluten-free products under the Juvela brand, including bread, flour mixes and pasta, which are sold in the UK retail and pharmacy markets. Scott Livingston, founder and CEO of S-Ventures, commented: "We are delighted to add the Juvela business to our platform. We welcome Hero Group as new shareholders and are excited about the opportunity this acquisition brings to drive substantial growth and value for all our shareholders. It has been a pleasure working with Hero on this transaction." The 5 million shares issued to the Hero Group as part of the consideration will represent 3.8% of S-Ventures' enlarged share capital. As a result, the Hero Group will become a new shareholder and partner in S-Ventures. Rob Versloot, CEO of the Hero Group, said: "We are very pleased to have found an ideal home where Juvela can grow to its full potential alongside other similar companies. The divestment is part of our company's long-term strategy and supports the Hero Group's focus on its core categories of baby and toddler food and snacks, healthy snacks and natural spreads." S-Ventures has also entered into new loan facilities, which include a four-year-term loan of £5.5 million and a £500,000 revolving credit facility. The company says that these will provide funding for the acquisition and for working capital needs. The cash consideration will be split into £6.5 million upon completion and £1.5 million deferred plus 8% interest, payable in September 2023.

Hormel Foods has acquired a minority stake in Indonesian food and beverage company, Garudafood Putra Putri Jaya Tbk, from CVC Capital Partners and other shareholders. Garudafood’s branded portfolio includes Garuda peanut snacks, Gery biscuits and Chocolatos wafer sticks. Hormel purchased approximately 29% of the shares of Garudafood – of which a significant portion came from CVC. Hormel president and CEO, Jim Snee, said: "This strategic investment enhances our partnership with Garudafood, which has been instrumental in helping us expand our business into Indonesia and Southeast Asia. Garudafood is a market leader, with strong and reputable brands, local expertise and a best-in-class distribution network. We look forward to accelerating our presence in these high-growth geographies and the snacking and entertaining category as we further leverage the strengths and capabilities of both companies." Hardianto Atmadja, president director of Garudafood, commented: "Hormel Foods has more than 130 years of company history, so there are many things that we can learn from them. We also find that there are similarities in our company cultures and values, which are very important for a long-term partnership. There are some potential synergies and growth opportunities that we have identified, such as combining the strengths and expertise of Hormel Foods with our presence and local market knowledge." The transaction closed during Indonesia Stock Exchange trading hours on 15 December 2022.

Amcor has announced the opening of a nearly $100 million packaging manufacturing plant in Huizhou, China. The 590,000-square-foot facility, which is said to be China's largest flexible packaging plant by production capacity, strengthens Amcor's position in the Asia-Pacific region. The new facility will produce flexible packaging solutions for food and personal care products, employing more than 550 people. The site comes equipped with China's first automated packaging production line, which, along with high-speed printing presses, laminators and bag-making machines, can reduce manufacturing cycle times. In addition, Amcor is deploying a smart production and operation system, which includes smart laser scanners, light curtains, high-standard machine guarding and multiple quality-control points. The facility also offers traceability throughout the production cycle, a climate-controlled environment and low-carbon-emission production. The plant features three labs with innovative testing and analytical capabilities to help accelerate the development of responsible packaging solutions, as well as various sustainability features, including a Regenerative Thermal Oxidiser system to reduce harmful emissions. It also offers a number of energy reduction, heat recovery, low-power consumption and rainwater harvesting systems to support the reduction of the company's carbon footprint and environmental impact. "This investment is testament to our commitment to grow with our customers in China and throughout Asia Pacific by bringing the best of Amcor's global expertise closer to them," said Xin She, vice president and general manager of Amcor Greater China. "The world-class capabilities of our new plant are designed to enable us to exceed our customers' expectations of quality, responsiveness and innovation."

Perfetti Van Melle has announced the launch of functional benefit variants of its Mentos Gum and Smint. Mentos Citrus Vitamin Gum is sugar-free and contains 25% of recommended daily vitamins B6, C and B12. The gums have a liquid-filled centre designed to give long-lasting freshness. Sarah Elmer, brand manager at Mentos Gum, said: “Health is significantly higher on the agenda for many of us heading into the winter months and because of this we’ve seen a phenomenal rise in demand for products that deliver added benefits. The new Mentos Citrus Vitamin Gum offers consumers a hit of delicious freshness which excites the mouth and awakens the mind – all whilst contributing to their wellbeing.” Smint has launched new on-the-go mints, Smint Defensive, sugar-free mints containing vitamin C, B6 and zinc, designed to support the immune system and help reduce tiredness and fatigue. Smint's brand manager, Caroline Grimshaw, said: “With the majority of the medicated market now sugar-based and subject to HFSS restrictions, new Smint Defensive provides the ideal, and appealing, sugar-free alternative that not only tastes great but is packed full of added benefits.” Mentos Vitamin Gum is available at select retailers for an RRP of £2.40. Smint Defensive is available at select retailers for an RRP of £1.

UK peanut butter brand ManiLife has expanded its product portfolio with the debut of its new cocoa-dusted snacking peanuts. ManiLife's Cocoa Dusted Peanuts are made with the brand's signature deep-roasted peanuts, coated in caramel and dusted with cocoa. ManiLife's peanuts are sourced from a family-run estate in Argentina, as well as cocoa farmers from Tanzania. According to the company, its peanuts are "roasted for a deeper, more intense flavour by master peanut roasters here in the UK, then blended in small batches for stand-out quality and taste". The Cocoa Dusted Peanuts will be available at Planet Organic's stores for an RRP of £3 per 90g bag.

Ferrero UK has announced it will introduce new products for its Easter 2023 range. Ferrero Rocher will launch two boxed egg packs, a Ferrero Rocher Egg and a Ferrero Collection (Milk) Egg, which both include a large 175g egg and six Ferrero Rocher. In addition, Ferrero will introduce a new 100g Bunny for Easter. Jason Sutherland, UK & Ireland sales director at Ferrero UK, said: “We’re confident that consumers will still want to spend on special occasions such as Easter and will look towards trusted and well-known names when they do so. As a result, we’ve expanded our Easter range to provide more choice for shoppers.” Thorntons will also expand its range of moulded figures with the launch of a white chocolate Bunny in the 90g format in time for Easter. Ferrero UK’s Easter collection will be available from January 2023 across UK retailers.

Ÿnsect has announced plans to build a new insect production site in the US, with construction beginning in 2023, and to establish an insect farm in Mexico. The French company – which claims to be the world leader in the production of insect protein – turns buffalo and molitor mealworms into sustainable ingredients for humans, animals and plants. Antoine Hubert, CEO of Ÿnsect, commented: "Mealworm protein is the only one in the world available on the market that can combine not only performance and health, but also natural origin and sustainability. Compared to traditional farming, Ÿnsect uses 98% less land while significantly reducing its carbon footprint for protein production." As part of its US expansion, the insect producer will explore potential synergies with flour milling and ingredient company Ardent Mills, a joint venture between ConAgra Foods, Cargill and CHS. According to Reuters, Ÿnsect signed an agreement with Ardent Mills to build a factory next to one of its Midwest US sites – which is yet to be determined – by the end of 2023. Reuters stated that Ardent Mills would supply milling byproducts to feed Ÿnsect's insects. "Ÿnsect aims to help contribute to reinventing the global food system, while also focusing on sustainability," said Hubert. "We are excited to examine potential opportunities with the North America leader in flour milling. This exploration marks the start of potential collaborations between two key players within the global food industry." Angie Goldberg, chief growth officer at Ardent Mills, said: "We see many synergies with Ÿnsect – as we both strive to transform the way the world is nourished. We are excited to be exploring potential sustainable food and ingredient opportunities with Ÿnsect, a company that has developed a unique expertise in insect-based ingredient production.'' With the expansion, Ÿnsect aims to establish local relations with wheat chains and limit water consumption, CO2 emissions and biodiversity impact across farming activities. The company will implement a circular economy model for its new vertical farms, creating value chains that comply with the Paris COP21 agreements. Ÿnsect and Mexican foodservice business, Corporativo Kosmos, have signed a joint development agreement (JDA) to begin developing an insect farm in Mexico. The agreement marks the continuation of a two-year-long collaboration between the two players. Speaking on the JDA, Hubert commented: “We are excited to join forces with Corporativo Kosmos. We know their feed will give substance to our projects and their real estate expertise will accelerate our plans and development. We aim to reinvent the global food system with a focus on sustainability. This is why we choose to establish ourselves locally on all continents, to limit our CO2 emissions across our farming activities.” Jack Landsmanas, CEO of Corporativo Kosmos, added: “We are very pleased to be actively continuing our collaboration with Ÿnsect, a company that has developed unique expertise in insect production. We are excited about the development of an insect farm site in Mexico, and we believe that the combination of both our capabilities will result in a stronger product mix and a successful partnership.’’ Mexico is the leading country in terms of consumption of insects and insect-based proteins, with the US predicted to be the largest future market for insect protein.

Meat producer HKScan has signed an agreement to sell its Baltic subsidiaries to Estonia-based food company, Maag Grupp, for €90 million. The deal will include the purchase of HKScan Estonia, HKScan Latvia and HKScan Lietuva. According to the company, "the debt-free purchase price is €90 million, of which €20 million is conditional on the combined performance of the separately defined meat business subject to the transaction and Maag Grupp's Baltic meat business in the following years". In addition, €55 million of the fixed purchase price will be paid at the closing of the transaction, with the remainder over a three-year period. “The sale of the Baltic business will improve HKScan's profitability and strengthen its balance sheet," said HKScan's interim CEO, Juha Ruohola. "In addition, the divestment will enhance our ability to improve our operational efficiency and to execute our long-term strategy of growing into a versatile food company." HKScan’s Baltic production units are located in Rakvere, Tabasalu and Viiratsi in Estonia, and Jelgava in Latvia. The company’s consumer brands in the Baltics are Rakvere, Tallegg, Rigas Miesnieks, Jelgava and Klaipedos Maistas. “The acquisition of HKScan's Baltic business will help Maag strengthen its position and achieve the full synergies in the Baltic market," added Roland Lepp, chairman of the supervisory board of Maag Grupp. "This will also provide us all better food security in turbulent times." The transaction, which is expected to close in the second half of 2023, is subject to regulatory approvals in Estonia and Latvia.

Carlsberg has agreed to acquire Canada's Waterloo Brewing for a total equity value of around CAD 144 million (approx. $106 million) in cash. Founded in 1984, Waterloo Brewing claims to be Ontario's largest Canadian-owned brewery. The company produces craft beers and ready-to-drink beverages under its own brands, while also offering contract manufacturing services for beer, coolers and ciders. Under the terms of the agreement, Waterloo shareholders will receive CAD 4.00 (approx. $2.95) in cash for each share held. This implies an aggregate equity value for the company of approximately CAD 144 million and an enterprise value of CAD 217 million (approx. $159.8 million). The deal is expected to strengthen Carlsberg’s position in the Canadian market with local production capabilities, and to deliver "significant supply chain and revenue synergies". George Croft, Waterloo Brewing president and CEO, said: "Waterloo Brewing will be a great fit with Carlsberg's strong, purpose-driven culture, and our board of directors is confident that joining Carlsberg is the best long-term solution for our employees, partners, customers, consumers and community". Carlsberg CEO Cees 't Hart commented: "One of our priorities in our Sail'27 strategy is to grow our business in attractive markets, where we are small today, like Canada. The acquisition of Waterloo Brewing significantly improves our growth prospects in the Canadian market." The transaction is expected to close early in the first half of next year, subject to approval by Waterloo Brewing’s security holders and customary closing conditions.

Dr. Zero Zero has announced the launch of AmarNo, a non-alcoholic version of an Italian after dinner drink favourite, the Amaro. The alcohol alternative maintains the flavour and smoothness of Amaro, crafted in its Italian tradition. Created in Trieste, Italy, AmarNo was made using extracts of sage, wormwood, Chinese rhubarb, quassia and orange. AmarNo Non-Alcoholic Botanicals Distillate is available for purchase online and in selected non-alcoholic retailers in the US.

British bakery brand, Hovis, has launched Simply White, a budget loaf of bread targeted at consumers hit by the cost-of-living crisis. A spokesperson for Hovis told FoodBev, “Here at Hovis we have been feeding the nation for almost 140 years and understand the importance of catering for the wide tastes and budgets of our consumers. As the outlook is hard for many at the moment, we have worked tirelessly to be able to offer a new opening price point loaf, delivering great taste at great value, so our consumers don’t have to compromise on either.” Simply White's pricing remains at the retailer's discretion and is stocked in Tesco stores and Booker wholesalers nationwide.

Icelandic skyr yogurt brand Siggi's has expanded its portfolio with the launch of a “rich and creamy” skyr line. Made with real fruits, the range features three flavours: ripe cherry, zesty lemon and vanilla honey. The rich and creamy skyr line contains 10g of protein and 140 calories per 4oz pot. “Yogurt consumers are seeking options that will satisfy their cravings without compromising on important attributes like high protein, simple ingredients and not a lot of sugar," said Siggi's brand manager, Stephanie Kellogg. "We created Siggi’s rich and creamy skyr to offer a delightfully creamy and flavorful treat that consumers can feel good about craving. This all-natural whole milk yogurt is satisfyingly thick and full of flavour with 10 grams of protein per serving." Last year, Siggi's launched a lower-sugar yogurt line, as well as a range of plant-based probiotic drinks.