The new year kicked off with the surprise resignation of Matti Rihko, the CEO of Benecol owner and Finland-based food group Raisio, embattled Australian infant formula business Bellamy’s facing pressure from its largest shareholder and a raft of M&A news. Click on the headlines for more.
Raisio CEO Matti Rihko resigned from the Finland-based food company today (3 January), with immediate effect.
The largest single shareholder of Bellamy’s Australia, the Black Prince Private Foundation, has said it wants to replace four of the company’s non-executive directors with its own candidates, after trading in the infant formula maker’s shares were voluntarily suspended following problems with exports to China.
French dairy group Lactalis, the majority owner of Parmalat, has launched a voluntary tender offer to take full control of the Italian dairy business.
Swiss dairy Emmi has made a further acquisition in the goat’s milk sector with the purchase of US-based family-owned business Jackson-Mitchell.
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Chinese dairy giant Mengniu has tendered an offer for milk producer China Modern Dairy Holdings in an acquisition the company said would strengthen its control over the raw milk supply chain.
Meat processor OSI Group has acquired UK foodservice supplier Flagship Europe from fellow US company Flagship Food Group.
Thailand’s Charoen Pokphand Foods is to acquire a 33% stake in Poland-based family-operated poultry export group SuperDrob for around THB1.87bn (US$52m).
US dairy cooperatives Prairie Farms Dairy and Swiss Valley Farms have announced a plan to combine.
Samworth Brothers, the UK food group that counts Cornish pasty brand Ginsters in its range, has acquired West Cornwall Pasty Co., a UK food-to-go retail chain specialising in making and selling pasties.
Lamex Food Group, the UK-based global frozen and chilled food group, has acquired Dutch meat peer Liberty Holdings for an undisclosed sum.