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The European Commission estimates the waiver will save importers approximately €60m ($69.8m) in duties.
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Annual food and drink exports from the EU to the South American country amounted to €2.5bn ($2.9bn) last year.
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With the deal, Heartland adds what it described as the “most recognised brands in the sweetener category”.
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The restructuring includes a previously announced $10m bridge loan and a fully underwritten $10m equity raise.
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The food-and-drinks group, which listed less than 18 months ago, is looking to bolster its balance sheet.
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The company said it will acquire a 74% stake in Chhattisgarh-based Jai Barbareek Dev Snacks and invest $5m in its wholly owned US subsidiary.
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A Senate commission highlighted "unbalanced distribution of value in the food chain", which it said disadvantages manufacturers and farmers.
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Just Food sat down with CEO and co-founder John Foraker to discuss his outlook for Once Upon a Farm, trading conditions in the US and the company’s recent push into the UK.
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