Hochdorf expands in Africa with Pharmalys acquisition
Swiss dairy and infant nutrition group Hochdorf has signed a contract to acquire a controlling stake in local African formula manufacturer Pharmalys Laboratories.
View ArticleTiger Brands forecasts earnings growth
South African food maker Tiger Brands has said that it expects full-year earnings to surge by more than 90% in the 12 months to 30 September.
View ArticleRhodes acquires pie maker Ma Baker
South Africa's Rhodes Food Group is acquiring KwaZulu-Natal based pie producer Ma Baker for ZAR212m (US$15.4m).
View ArticlePepsiCo, Ajinomoto 'competing for Promasidor stake'
PepsiCo and Ajinomoto are reportedly among the bidders aiming to take a stake in African dairy company Promasidor.
View ArticlePortugal's Sovena gets EBRD support for Tunisia olive oil assets
Portuguese agri-food group Sovena has secured a loan from the European Bank for Reconstruction and Development to help grow its olive oil business in Tunisia.
View ArticleFood market news of the week - M&A talk over Africa's Promasidor, TreeHouse...
The M&A rumour mill was whirring this week, with PepsiCo and Ajinomoto linked to interest in buying a stake in African business Promasidor, while Dean Foods was said to be on the radar of China's...
View ArticleNigerian tomato plant to axe jobs in move to China
The head of Nigeria's Erisco Foods has announced plans to relocate the firm's tomato paste manufacturing plant from Oregun, Lagos State, to China with the loss of 1,500 staff - in a move blamed on the...
View ArticleAjinomoto acquires stake in Africa's Promasidor
Japanese food group Ajinomoto has acquired a 33.33% stake in pan-African food group Promasidor Holdings for US$531m.
View ArticleRhodes Food Group forecasts jump in FY earnings
Rhodes Food Group, the South African condiments-to-canned pineapple group, has forecast its annual earnings will rise by more than 60%.
View ArticleWeetabix sells 49% of east Africa arm to Pioneer Food Group
UK-based breakfast cereal group Weetabix has sold just over 49% of its unit in east Africa to South Africa's Pioneer Food Group.
View ArticleSouth Africa intervenes on Country Bird bid for poultry peer Sovereign Food...
Sovereign Food Investments, the South African poultry group that mounted a legal challenge against a takeover bid from local peer Country Bird Holdings, has said the country's government has ruled the...
View ArticlePioneer Food Group buys into Weetabix east Africa unit
South Africa's Pioneer Food Group has acquired a 49% stake in the east African business of UK breakfast cereal group Weetabix.
View ArticleRhodes Food Group books jump in FY profits
Rhodes Food Group, the South African condiments-to-canned pineapple group, has booked a jump in annual earnings for its 2016 financial year, boosted by increased turnover of 37% to ZAR4.1bn (US$285m)...
View Article"Resilient" Pioneer Food Group posts "credible" FY results
Pioneer Food Group, the South Africa-based cereal-to-fruit snacks business, has reported higher annual sales and profits.
View ArticleSouth African poultry firm Astral Foods sees FY profits tumble
South African poultry group Astral Foods has booked a slump in annual profits, with higher feed costs having a "major negative impact" on results.
View ArticleTiger Brands books FY earnings surge
South African food maker Tiger Brands has booked higher annual profits, helped by the proceeds from the disposal of its business in Nigeria but also growing sales.
View ArticleCountry Bird Holdings would not look for alternative M&A target, says CEO...
Country Bird Holdings CEO Marthinus Stander said the South African poultry group would not seek another acquisition target should it decide not to pursue its interest in local rival Sovereign Food...
View ArticleSouth Africa's Quantum Foods feels cost, rand pressure
Quantum Foods, like a number of South African poultry processors, has reported pressure on profits from higher feed costs and volatility in the rand.
View ArticleSouth African poultry group Sovereign Food Investments posts H1 loss
Sovereign Food Investments has booked half-year losses of ZAR36m on the back of pressure from feed prices and the cost of defending itself from a hostile takeover bid from fellow South African poultry...
View ArticleRhodes Food Group raises funds for future M&A
Rhodes Foods Group, the South Africa-based business that has made six acquisitions in the last two years, has used a share issue to raise funds for more deals.
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