Market

IMA Group is continuing its growth, closing 2018 with net revenues of €1,500.4 million, 13.6% up on the €1,320.2 million registered in the year to 31 December 2017.

GIMA TT posted net revenues of €182.9 million in 2018, 20.5% up from the €151.8 million in the year to 31 December 2017.

With the aim of concentrating entirely on its core business of sustainable packaging, the British packaging group DS Smith (LON:SMDS) has decided to shed its plastics division, which operates in the flexible, rigid, foam and injection-moulded packaging segments.

To capitalise on surging cocoa powder consumption in Asia, Singapore stock market-listed agri-business Olam has acquired an 85% stake in YTS Holdings, the 100% owner of Indonesia’s largest cocoa processor PT Bumitangerang Mesindotama (BT Cocoa).

The Danone group reported consolidated sales of €24.7 million in 2018.

Massimo Zanetti Beverage Group (MZB.MI) has announced that its subsidiary Massimo Zanetti Beverage Iberia has completed the acquisition of Lisbon-based Portuguese food service company Cafés Nandi SA and its production site in a deal that will enable the Group to double its current production capacity in Portugal.

As the deadline for submission of bids approaches, Ferrero is vying with Mondelez and a consortium comprising US-based private equity firms KKR and Bain Capital for the acquisition of Australia’s Arnott’s Biscuits, owned by Campbell.

In a bid to enhance its supply chain transparency for end consumers, Nestlé has revealed that it will disclose the origins of the raw materials used in its products, with the aim of covering 95% of its annual sourcing.

Acque Minerali d’Italia (Norda, Sangemini, Gaudianello), the fourth largest Italian mineral water group and the second largest in the Horeca channel, has doubled its share capital with an injection of €15 million, including €12 million from shareholders.

Maviglia, a Belgian company with Italian origins specialising in the production of fresh and frozen pasta, is making a major investment in a new production plant in the municipality of Balgaranovo near Burgas, Bulgaria.

Last year the Austrian energy drink producer Red Bull posted the best results in its history.

Coca Cola HBC has begun the process of acquisition of leading Serbian confectionery company Bambi from Mid Europa Partners.

Brazilian meat giant JBS is investing $20 million to expand the bacon operations of its Plumrose business in Ottumwa, USA.

PepsiCo has announced that it will build a new savoury snack manufacturing facility in the city of Multan in central Pakistan.

IFCO, global provider of reusable packaging solutions for fresh foods, today announced that its parent company Brambles has entered into a binding agreement to sell IFCO to Triton and a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), for an enterprise value of US$ 2.51 billion. The transaction is subject to customary regulatory approvals and is expected to be completed…

A few months after the purchase of Keystone Foods (USA), American meat multinational Tyson Foods is back in the news with another major acquisition, a $340 million deal to buy the Thai and European operations of Brazilian poultry producer BRF.

Swiss multinational Nestlé has announced a major new $154 million investment to build a new factory in Veracruz, Mexico, which will process around 20,000 tons of locally sourced green coffee a year.

Uzbekistan has introduced new measures to stimulate the development of viticulture and wine production while reducing state participation in the sector.

La Linea Verde, an Italian market leader in the fresh fruit and vegetable segment (salads, ready-to-eat fresh foods and fresh fruit and vegetable drinks), has posted a 2018 turnover of €300 million, 26% up on 2017.

As part of a recovery plan involving investments of more than €50 million, Buitoni (Nestlé group) has completed the renovation and expansion of its historic pizza production plant in Benevento.