The week saw Brazil’s President, Michel Temer, take aim at the country’s largest meat processor, JBS, in a row over alleged corruption. Mexico’s Grupo Bimbo, the world’s largest bakery group, entered India, with an investment in local player Ready Roti. And Campbell Soup Co. invested in US online meal-kit supplier Chef’d. Click on the headlines for more.
Brazilian meat giant JBS has reportedly hired an investment bank to help plan a sale of some assets to pay a fine to settle allegations arising from a corruption probe that has engulfed the firm, top executives and politicians – including the country’s president.
Brazil’s President, Michel Temer, has pledged to take legal action to suspend an investigation into allegations he was involved in a corruption scandal that has engulfed national meat giant JBS.
Grupo Bimbo, the world’s biggest baked goods manufacturer, has muscled its way into the Indian market with the acquisition of a majority stake in Ready Roti India.
Campbell Soup Co. has become a shareholder in Chef’d, the US online meal-kit business.
Jam, instant cooking mixes, pasteurised butter and several other processed food items have been placed in a higher tax bracket under India’s new Goods and Services Tax (GST) regime, to be levied from 1 July.
Ireland-based convenience food group Greencore has started talks aimed at shutting down its chilled desserts production plant at Evercreech in the UK next year.
Danone has added production lines at a plant in Ghana run by Fan Milk, the African business in which the French group has a majority stake.
Ferrero has confirmed plans to launch a version of its Kinder Egg in the US – Kinder Joy – early next year.
French dairy giant Lactalis is set to acquire German dairy group Omira for an undisclosed sum, it was announced today (23 May).
Northern Ireland meat group Dunbia said today (24 May) it had agreed to establish a majority-owned joint venture with peer Dawn Meats, based across the border in the Republic of Ireland, to comprise the UK operations of both firms.