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- Kerry expands Saudi Arabia operations with new facility
Kerry has expanded its operations in Saudi Arabia with the opening of a new facility, as it continues to develop its Middle Eastern footprint. The new 21,500-square-foot plant currently employs 130 people and will help companies to meet consumer demand for healthier and more sustainable food and beverages – particularly in the snack, meat and bakery sectors. The company has already invested more than €80 million in the region over the past four years. According to Kerry, the new facility will be the company's largest in the Middle East, North Africa and Turkey (MENAT) region. Edmond Scanlon, chief executive of Kerry Group, said: "The opening of our new facility at our Jeddah site is part of our commitment to continuing to grow our presence across the Middle East where we have invested over €80 million since 2018". He continued: "This new facility is the first of its kind in the Middle East and is one of the most modern and efficient in the world, offering top-in-class sustainable nutrition technology platforms, laboratories equipped with unique testing capabilities while also being sustainable".
- So Delicious Dairy Free launches yogurt with botanical extracts
Danone-owned brand So Delicious Dairy Free has unveiled a new line of coconut milk yogurts with botanical extracts in the US. So Delicious Yogurt Alternatives with Botanicals Extracts is available in three flavours: strawberry with elderberry extract, mango with ginger and turmeric extracts and mixed berry with chamomile extract. The range is made with organic coconut and contains 7-8g of sugar and no artificial sweeteners or preservatives. "Here at So Delicious, we're focused on dairy-freeing minds with great taste – and our new yogurt alternatives with vibrant botanical extracts are making it easier than ever to indulge in mindful microbreaks throughout the day," said Lia Stierwalt, senior director of marketing, So Delicious Plant-Based Yogurt Alternatives. So Delicious Yogurt Alternatives with Botanicals Extracts are available at Whole Foods and Sprouts Farmers Market for an MSRP of $1.99 per single-serve cup.
- Ball Corporation appoints Dan Fisher as CEO
Ball Corporation has announced the appointment of Dan Fisher, the current president of the packaging company, as its next CEO. Fisher will succeed John Hayes, who will remain chairman of the board. Fisher first joined Ball 12 years ago and held several executive leadership roles, such as senior vice president and COO, before being promoted to president in early 2021. Stuart Taylor, lead independent director on Ball's board, said: "This announcement is the successful culmination of a purposeful, multiyear succession plan based on John's desire to step away from day-to-day management. Dan has worked closely with the board over the past several years, and we look forward to the next phase in our development with Dan as CEO." Fisher added: "It is an honour to be named the next CEO of Ball Corporation, and I want to thank both John and the board for the confidence they have placed in me to lead this strong organisation. Ball is well-positioned for the future, and I welcome the opportunity to continue to work with John as chairman and benefit from his experience as we create value for all of our stakeholders, using 'Drive for 10' and 'EVA' as our guide."
- Twelve5 Beverage Company launches new Bolder hard coffee
Twelve5 Beverage Company-owned brand Rebel Hard Coffee is expanding its portfolio with the launch of a new Bolder Hard Coffee range. The line will be available in two flavours: Double Mocha Bolder Hard Latte and Salted Caramel Bolder Hard Latte. Each variant contains an abv of 8% per 16oz single-serve cans. "Twelve5's Rebel and the Hard Coffee category have so much potential that remains untapped," said Michael Sargent, senior brand manager, Twelve5 Rebel Hard Coffee. "We are focused on being a category leader and bringing to market what consumers are looking for in the right format, at the right retail locations." Twelve5's Rebel Bolder Hard Coffee will be available at grocery and convenience stores from early February.
- Starbucks releases new ready-to-drink energy drinks
Starbucks has entered into the ready-to-drink canned energy drink category with a new range, named Baya Energy. The beverages were developed through the North American Coffee Partnership (NACP), a joint venture between Starbucks and PepsiCo to create coffee and energy products. Baya Energy drinks are available in three fruit flavours – Mango Guava, Raspberry Lime and Pineapple Passionfruit. The new beverages are crafted from caffeine naturally found in coffee fruit as well as additional vitamin C for immune support. The energy drinks also contain 90 calories and 160mg of caffeine per 12 oz. can. Chanda Beppu, vice president of channel development Americas at Starbucks, said: "We’re thrilled to introduce Starbucks Baya Energy to our customers, providing them with a refreshing, fruit-flavoured boost of feel-good energy, in a way only Starbucks can deliver". She continued: "Over the years, we’ve continued to identify new and exciting ways to expand our ready-to-drink portfolio and saw an opportunity to complement our existing coffee beverage lineup with Starbucks Baya Energy, the brand’s first beverage to launch in the energy category". Starbucks Baya Energy is available nationwide in US stores and gas stations as well as online for an SRP of $2.89. The brand has also expanded its ready-to-drink coffee range with new releases such as: Frappuccino Coffee Drink with Oatmilk – available in Caramel Waffle Cookie and Dark Chocolate Brownie variations – and Frappuccino Passport Series in Hazelnut Tiramisu flavour.
- Glencore's Viterra to acquire Gavilon for $1.1bn
Glencore-owned Viterra Limited has entered into a stock purchase agreement to acquire the grain and ingredients business of Gavilon Agriculture Investment, for $1.1 billion. Gavilon, based in Omaha, Nebraska, stores and distributes grains, oilseeds, feed and food ingredients to customers worldwide. It has an asset network that spans the US, as well as international operations in Mexico, South America, Europe and Asia. “The addition of Gavilon supports our long-term strategy of significantly increasing our presence in the United States, one of the major producing and exporting regions, which will further strengthen our global network,” said David Mattiske, CEO of Viterra. “The combination of the Gavilon and Viterra origination businesses will enable us to provide more value and flexibility to our customers. We will be able to rapidly enhance our sustainable supply chains, provide higher levels of quality control and reliability, while creating exciting opportunities for our customers and employees.” He continued: “We look forward to welcoming the employees of Gavilon to the Viterra team, and further strengthening the successful business and commercial relationships Gavilon has built with producers and consumers”. Peter Mouthaan, CFO of Viterra, added: “This transaction demonstrates the continued support of our shareholders to execute on opportunities that deliver significant growth for our business, while maintaining a robust balance sheet. Funding for the agreed purchase price and a portion of the assumed working capital has been secured through the signing of a committed acquisition financing facility. Funding for the remainder of the working capital will be financed by using proceeds from other committed financing facilities and cash on hand, including existing available undrawn committed credit lines amounting to approximately US $3.6 billion as of 31 December 2021.” Glencore acquired Vittera for $6.1bn almost ten years ago, aiming to accelerate its agricultural trading division. The transaction is subject to customary closing and regulatory conditions. It is expected to close in the second half of 2022.
- Thatchers introduces blood orange cider
Thatchers Cider has expanded its premium cider portfolio with the launch of a blood orange variant in the UK. Thatchers Blood Orange is crafted with naturally sweet dessert apples – Braeburn, Fuji and Gala – which have been specially selected for their sweetness, aroma and quality. The new release has a 4% abv and is available in either a 500ml bottle or 440ml can. Martin Thatcher, fourth generation cider maker, said: “Packed with sweet, juicy flavour, Thatchers Blood Orange will tease the taste buds and quench the thirst. All our ciders are made with the same deep-rooted responsibility that comes with 117 years of cider making here at Myrtle Farm." He continued: "This is a juicy addition to the growing Thatchers Cider family, attracting a new generation of cider drinkers. With the blood orange flavour yet to make its mark in cider, Thatchers Blood Orange will cut through a cluttered fruit cider category, whilst introducing new shoppers into cider." The 500ml bottle has an RRP of £2.30 while the canned four-pack is £5.50. The new release will have a nationwide roll-out at the end of February.
- Plant-based food firm La Vie raises €25m in Series A round
French plant-based start-up La Vie has raised €25 million in a Series A round, which was backed by investors including Natalie Portman. The round also received participation from Seventure, Partech and the CEOs of Vinted, Blablacar and Back Market. The company produces vegetable lardons and bacon using patented vegetable fat that is rich in protein. La Vie plans to use the funding to "revolutionise plant-based food" and expand its distribution across France, the UK and the rest of Europe, targeting both the retail and foodservice channels. "It is essential to switch to plant-based food and I am convinced that technological innovation has a key role to play in encouraging consumers – even the most reluctant – to make the switch," said Thomas Lodewijk Plantenga, CEO of Vinted. "The La Vie team has created a delicious recipe and a unique brand that will make plant-based meat so appealing that it will become the norm in our societies."
- Vertical farming company Plenty secures $400m in funding
US vertical farming technology company, Plenty, has raised $400 million in a Series E funding round, which included investment from retail giant Walmart. Plenty described the funding as "the largest investment to date for an indoor farming company". The round was led by One Madison Group and private investment firm JS Capital, and included participation from Walmart and returning investor, SoftBank Vision Fund 1. The capital will be used to support Plenty's growth strategy, which includes selling multi-crop farms direct to partners. One Madison Group's CEO and chairman, Omar Asali, said: "The indoor farming sector is at an exciting inflection point, poised to reach its full potential as a new asset class that addresses the significant need to provide access to fresh, nutritious food year-round, even in geographies where traditional farming is difficult". He continued: "Plenty has truly 'cracked the code' on the technology and economics of indoor farming. It has developed an innovative and scalable model that can deliver fresh, sustainable produce to retailers, growers and governments anywhere in the world." According to Plenty, the company's vertical towers and intelligent platform make it "the only vertical farming company capable of growing multiple crops on one platform with consistently superior flavour and yields. While traditional farms and other indoor farming solutions battle the limits of space, crop variation, nature and yield, Plenty's...modular system makes it possible to scale farms to meet partner and consumer needs." Additionally, the company has entered into a strategic agreement with Walmart to bring Plenty's leafy greens from its Compton farm to all of the retailer's stores in California this year.
- Unilever unveils "remixed" versions of Magnum classic ice cream flavours
Unilever has expanded its Magnum ice cream brand with the release of the Magnum Remix range, a "remixed" version of its most popular varieties, which includes Classic, Almond and White Chocolate. Magnum Remix is available in three flavours: Magnum Classic Remix, Magnum Almond Remix and Magnum White Chocolate and Berry Remix, each variety is available in a three-pack box with an RRP of £3.99. Meanwhile, Magnum Almond Remix is also available in a Mini-size of six-packs for the same price. Magnum has also unveiled the Magnum Sweet and Salty Almond Remix, available in a 440ml tub format with an RRP of £4. Unilever's brand experience director, Ice Cream, UK, Horacio Cal, said: “Magnum Remix are supercharged versions of our much-loved classics, shining a light on our core range". He continued: "By introducing remixed versions of our already popular range, we can delight fans but also reach new customers and create even more opportunities for shoppers to try Magnum...We want to continue to drive value and expand our customer base to help retailers profit from the growing ice cream category.”
- Leclerc expands North American operations with $100m investment
Canadian food manufacturer Leclerc has purchased a factory in Brockville, Ontario, as part of a $100 million investment to expand its operations in North America. The factory – formerly owned by Proctor and Gamble – will help to create more than 100 new jobs locally in 2022. Leclerc, which manufactures a range of products under brands such as Celebration, Vital, GoPure and Choco Max, will use the 790,197 square-foot production plant to produce its cookies and snack bars. The government of Ontario is supporting the investment through its Eastern Ontario Development Fund. A total of $1.5 million will be allocated to the company to assist with the creation of new jobs and technologies. "Brockville offers a strategic location within North America, near US customs and our other Leclerc plants in Canada and the USA. This new facility will allow us to continue to grow our operations in full expansion. We firmly believe that our team members are what make us stand out from the big multinational food companies and we look forward to welcoming Brockville residents into our family" said Denis Leclerc, president of Leclerc Foods. Production is planned to start from July 2022, with full capacity achieved by January 2023.
- Aiya Matcha unveils matcha-infused tea line
Producer of premium tea Aiya Matcha has released a new collection of matcha-infused tea made from shade-grown green tea leaves. The collection includes three premium Japanese green teas – Organic Matcha Infused Gyokuro, boasting a smooth, delicate umami flavour, Organic Matcha Infused Sencha, a bright, refreshing blend of traditional green tea with an aromatic finish, and Organic Matcha Infused Genmaicha featuring a combination of matcha, sencha and toasted brown rice. Each box contains ten pyramid tea bags and all products are USDA organic and kosher certified. Nathan Effron, national account executive of Aiya Matcha, said: "Our matcha-infused tea line pays homage to traditional steeped green tea and is a great introduction to matcha. Customers can enjoy traditional green tea flavours enhanced with the subtle flavour notes and umami imparted by organic ceremonial matcha". The new line is available in North American markets at all Gelson's, Lassen's, Jimbo's, Whole Foods Market (Canada only) and Metro Market (Canada) locations. Customers will also soon be able to find these products in select Acme Fresh markets.
