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The French giant, which invested in Lifeway in 1999, holds around 22.7% of the company. Two years ago, Danone tabled takeover offers for Lifeway, which the business rejected.
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The Cheestrings brand owner and ingredients supplier said it will create “more than 100 new roles” at the business.
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Government data showed Germany produced 124,900 tonnes of meat substitutes in 2025, down 1.2% on 2024.
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The Nordic group has struck the deal through its Orkla Food Ingredients (OFI) business unit.
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The Spanish business is diversifying into own label and co-manufacturing but also evolving its branded portfolio.
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Both investors have declined to comment on a report by Reuters suggesting they are in the ‘early stages of exploring bids’.
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The CMA said Vandemoortele had notified the watchdog that it accepts the deal “may be expected to result in a substantial lessening of competition” for retail and foodservice customers in the UK.
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Premier Foods’ plans for international growth “will be a combination of organic and probably inorganic”, CEO Alex Whitehouse said.
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