Mexican bakery giant Grupo Bimbo reported a massive 87% second-quarter revenue decline after it took a 1,960m pesos ($105m) charge for a voluntary redundancy program to create a ‘lean organization design.’
Mondelēz has reported growth across all regions in Q2 ending June 30, although its topline was negatively impacted by the recent truckers' strike in Brazil.
Grupo Bimbo’s recently acquired Columbian frozen baked food company, Panattiere, which, according to Global Market Insights, is an ‘evident’ sign that the frozen bakery market will experience high growth over the next six years.
Everfoods, the packaged foods platform controlled by private equity firm Everstone Group, has entered into an agreement to acquire Cookie Man from Australian Foods India for an undisclosed sum.
Harrison Hart, son of New Zealand billionaire Graeme Hart, is putting together a ‘food manufacturing powerhouse’ with the acquisitions of cereal manufacturer Hubbard Foods, Hansell Food Group and the Gregg’s sauce unit.
Anmol Industries - a branded packaged food company focussing on biscuits and cakes - has filed draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).
Mauricio Alarcon, CEO/MD of Nestlé Nigeria has reiterated the company’s commitment to improving the livelihood of farmers, while improving the quality and quantity of grains and legumes.
The Food Safety and Standards Authority Of India (FSSAI) has agreed, in principal, to reduce the trans-fat content in vanaspati and bakery shortenings and margarines to less than 2% by 2022.
The Grain Millers Association of Zimbabwe spokesman Garikai Chaunza said the country had a week’s supply of wheat left, which means millions of Zimbabweans could be left without the daily staple.
Mondelēz plans to invest in Central and Eastern Europe by acquiring local brands in high-growth categories as these regions are showing a healthy growth trajectory, especially in the snacking space.
The European Union (EU) is investing Ksh236m ($2.4m) to help Kenya revive its once thriving cashew nut industry that collapsed more than three decades ago.
China is set to become one of the most attractive cereals and bakery markets worldwide, with the bakery sector reaching $47bn by 2020 as more people chose to eat snacks on the go.
Mondelēz International has inaugurated its biscuit plant in Opava, Czech Republic, one of the most modern factories in the company’s network and a leading producer of biscuits for the European market.
The chairman and CEO of Chinese rice crackers maker Want Want Holdings, Tsai Eng-Ming, has declared the company could become ‘one of the greatest brands in Chinese history’ following a 6.6% revenue increase for FY2017.
PepsiCo India will launch its first plant-based packaging for Frito-Lay and KurKure snack productslater this year in its effort to tackle domestic plastic waste.
The Fair Trade importer has collaborated with food safety technology company Agri-Neo to install the Neo-Pure Food Safety System at Mayorga’s headquarters in Rockville, Maryland.
Nearly 70% of in-store snack purchases are unplanned -- indicating that impulse snack shopping is a shared habit among most consumers, Euromonitor senior analyst Jared Koerten said at the Sweets & Snack Expo in Chicago yesterday.
While reporting solid growth for the first quarter of 2018, Kellogg announced it was increasing its investment in West Africa to further capitalize on the 'enormous growth opportunity' in the region.
The Association of Master Bakers and Caterers of Nigeria (AMBCN) has called on the country’s federal government to ditch the 15% levy collection on wheat importation in light of the failure of the Cassava Bread Development Fund (CBDF).
Novozymes’ food and beverage division posted a 5% growth for Q1 2018, driven by an increased uptake in solutions for specific bread types consumed in Asia Pacific and Latin America.
Indian conglomerate Lanson Group has announced its entry into the snacks segment with the launch of Popodax, mini ready-to-eat appalams designed to appeal to time-strapped Indian consumer.
The Oreo cookie maker has inaugurated its newest 'Factory of the Future' in the Kingdom of Bahrain to meet growing demand by local consumers as well as those in the Gulf region, the Levant and Africa.
Novozymes inaugurated its new Innovation & Technology Centre in Istanbul this month, focused on developing enzymes that could ultimately reduce food waste in the MEA (Middle East Africa) region.
Kellogg Company, Post, PepsiCo, Unilever, General Mills and ConAgra Foods are some of the suppliers to have joined with Walmart in its ‘Fight Hunger. Spark Change’ program in the US and Puerto Rico.
PepsiCo-owned Quaker Oats has collaborated with South Korea snack maker Lotte Confectionary to enter the fast-growing Korean cereal market currently dominated by Kellogg’s and Post in JVs with local producers.
CCL Industries has signed a binding agreement to acquire Treofan America and Trespaphan Mexico Holdings from M&C for approximately $255m with the deal expected to close in Q2, 2018.
The Ahmedabad branch of India’s Consumer Dispute Redressal Forum has fined Indian bakery giant Brittania Industries for selling underweight packets of biscuits.
KunaPops, puffed quinoa and chia snacks produced by Ecuadorian organic flour and snack producer LiveKuna, will be listed on Amazon US this month, following its success in Canada.
Chinese consumers are expected to eat more Western style biscuits in the coming years as their knowledge of cheese types increase, according to a recent report by Mintel.
Mexican bakery conglomerate Grupo Bimbo reported a 6% increase in sales - helped by several acqusitions that expanded the company's presence into new markets - but noted a drop in profits.
Chinese bakery snack manufacturers are betting on e-commerce to boost their sales over the Lunar New Year, reports domestic confectionery trade body China Candy.
Nestlé has taken its second step to secure its presence in the healthy snacks category by acquiring a majority stake in Ecuadorian organic food company Terrafertil for an undisclosed amount.
Kellogg Company has reported its net sales increased nearly 4% YOY for the quarter ended December 30, driven in part by the acquisition of protein bar maker RXBAR.
