04 October 2023
04 October 2023
Droughts, irrigation restrictions and underinvestment in agri-tech are demanding an overhaul in water governance and sourcing.
Investors have called into question how committed Nestlé is to “driving healthier outcomes for society and the economy”.
The payout is intended to “help the Canadian dairy sector increase its competitiveness and adapt to new market realities”.
Newly-installed president and CEO Brendan Foley has signalled M&A is coming back into sight.
Fazer said competition had intensified amid slowing demand and increased capacity in Europe.
Local media reports have put the number of job losses at 250.
The Australian start-up has won A$24.4m ($15.3m), including investment from Norway-based food major Orkla.
Terms of the deal for the California-based retail and foodservice supplier were not disclosed.
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Per GlobalData estimates, the Eastern European food industry was valued at $180.5 billion in 2022 and is projected to grow at a CAGR of >4% by 2027. The top five companies together account for a value share of just 5.3% in 2022, with Mondelēz leading the pack. The Czech Republic, Poland, Romania, and Hungary were identified as high-potential countries, primarily due to the large size of their food industries, their high projected value growth rates, and their rising per capita expenditure.
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