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"The current situation is unprecedented and hard to predict," said Dr Liliana Danila, chief economist at The Food and Drink Federation.
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Standing Ovation said it will use the financing to commercialise its proteins, starting with the US.
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Greenpeace Aotearoa sued the company in 2024, alleging it breached the law by using ‘100% New Zealand’ and ‘Grass Fed’ claims on its Anchor butter label.
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The owner of Sea Cuisine and Mrs. Paul’s brands said the move affects 35 employees and is intended to “further align its cost structure with current market conditions”.
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Ambienta said it will support The Bridge’s goal of becoming “one of the leading players in the sector".
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The UK-listed company is working on improving the performance of its seafood and plant-based businesses to “increase strategic optionality”.
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Paulig said the sale is part of its “strategy to sharpen focus” on world foods and Tex Mex.
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Plant-based seafood is arguably dead in the water but optimism prevails that technology can deliver a quality uplift.
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