Bellamy’s Australia, the under-scrutiny infant formula producer, this week issued a profit warning and announced the exit of its CEO. BRF, the Brazil-based meat giant, joined forces with Qatar’s sovereign wealth fund to buy Turkish poultry group Banvit. And Kellogg‘s 1894 fund made its first investment.
Bellamy’s Australia CEO Laura McBain exits as outlook slashed
Under-scrutiny infant formula manufacturer Bellamy’s Australia replaced its chief executive Laura McBain today (11 January), while forecasting a steep decline in annual profits.
BRF, Qatar to buy Turkish poultry firm Banvit
BRF, the Brazil-based meat giant, has teamed up with the state of Qatar to buy a majority stake in Turkey-based processor Banvit Bandirma Vitaminli Yem Sanayii.
Danish Crown expands in organic beef with Teterower Fleisch acquisition
Danish Crown has acquired German beef processor Teterower Fleisch in a move the company said will make it a “major player” in the northern European market for organic beef.
Kellogg’s 1894 fund debut investment in US firm Kuli Kuli
Kellogg fund Eighteen94 Capital has announced US firm Kuli Kuli, a company making bars and powders from plant food moringa, as its first investment.
Bebeto maker Kervan Gida acquires UK’s Dexters Confectionery
Turkey’s Kervan Gida, which produces candies including the Bebeto jelly brand, has acquired UK-based Dexters Confectionery for an undisclosed sum.
Dairy giant Muller appoints new CFO, COO
Germany-based dairy group Müller has named a new CFO and a new COO.
Thai Union outlines plans for new China unit
Thai Union Group is to establish a subsidiary in China to sell seafood in the country.
Mondelez settles India FCPA violation charges
Mondelez International is to pay a fine as part of a settlement with the US Securities and Exchange Commission over the snack giant’s internal controls – although the deal carries no admission what is now a subsidiary in India paid a consultant to bribe local officials to secure approval for a plant in the country.
US targets increased organic production
A programme is being launched in the US that aims to boost organic agricultural production in the country by providing farmers with additional support while they transition from conventional to organic farming.
Irish food exports post record despite UK Brexit trade blow
Irish agri-food and drink exports exceeded EUR11bn (US$11.7bn) for the first time in 2016, although the UK’s vote for Brexit cut the value of trade by a potential EUR570m, according to latest figures released by Bord Bia, the Irish Food Board.