12 September 2023
12 September 2023
Libstar will look to “reduce exposure to under-performing business units” possibly through selling the assets or closing them.
Amid rising concern over obesity, J.M. Smucker’s management was asked about the long-term prospects for indulgent sweet snacks like Twinkies.
After announcing the relocation plan in 2021, the Swiss group will make the move by 2027.
The company has brought in investment bank Macquarie Capital to oversee the review process.
The conglomerate has diversified its existing operations in bananas, palm oil and avocados with the purchase.
The company has been added to the government's list of ineligible and suspended suppliers.
Switzerland-based IDAK also owns the food companies Kadi and Margherita.
Cibus Capital has sold the business to fellow investor Fiera Comox.
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GlobalData estimates that the global dairy & soy food sector will grow at a CAGR of 17% during 2022–27. The healthy eating trend has encouraged consumers to seek alternatives to traditional dairy products. Plant-based dairy alternatives are often perceived as healthier due to their lower saturated fat content. Moreover, increasing awareness about food allergies and intolerances, coupled with consumers’ interest in alternative diets, will drive manufacturers to launch lactose- and gluten-free products.
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