Belgium’s Lotus Bakeries this week struck its second piece acquisition in the UK in four months, with a deal to buy Bear snacks owner Urban Fresh Foods. Our M&A pages also included news Fonterra is selling its Australian yoghurt business to Lactalis’s Parmalat and Ornua is offloading US distribution asset DPI. Elsewhere, the Russian central bank said domestic producers had, in most categories, failed to meet the shortfall in production from Moscow’s import restrictions on the west. Click on the headlines to read the stories in-depth.

Lotus Bakeries buys Bear snacks owner Urban Fresh Foods

Belgium-based Lotus Bakeries has struck its second acquisition in the UK in four months with a move to buy Bear snacks owner Urban Fresh Foods.

Fonterra to sell Australia desserts business to Parmalat

Fonterra is to offload its yoghurt and dairy desserts business in Australia to Parmalat, the Italy-based group owned by France’s Lactalis.

General Mills cuts FY sales and earnings forecasts

General Mills today (17 December) lowered its forecasts for annual sales and earnings on the back of lower sales in the second quarter, when the US group’s domestic performance was subdued.

Meat group Dunbia weighing up options

Dunbia, the UK-based meat processor, is mulling how to “maximise the potential” of the company after attracting interest in the business.

Russian producers “fail to cover embargo in most categories”

Russian food producers have failed to raise their output sufficiently to fully compensate for the gap left by the country’s ban on western food importers, the Central Bank of Russia has said.

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By GlobalData

Ornua to focus on Irish dairy exports after DPI sale

Irish dairy co-operative Ornua has sold a majority stake in its US food distribution business, DPI Specialty Foods, to private-equity firm Arbor Investments in order to reallocate resources to its core business. 

Tiger Brands exits loss-making Nigeria unit

Tiger Brands has sold its share in its loss-making Nigeria business, Tiger Branded Consumer Goods of Nigeria, to partner Dangote Industries.

Weetabix launches “high-protein” cereal in UK

Weetabix has made another move to target interest in protein in the UK with the launch of a version of its flagship product that is enriched with the ingredient.

WhiteWave Foods to pull “Australian-style yoghurt” Yulu

WhiteWave Foods is pulling “Australian-style” yoghurt brand Yulu, nine months after launching the product in the US.