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1 week ago | 
just-food.com | Simon Harvey
Mars has reportedly failed to allay the competition concerns of EU regulators over its $36bn takeover of US food business Kellanova. Privately-owned snacks and confectionery giant Mars sealed the deal for the Pringles brand owner in August for $35.9bn but with the proviso the transaction would need to be approved by competition authorities.
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1 week ago | 
just-food.com | Simon Harvey
Frutura Produce is eyeing further acquisitions as the California-based grower seeks to focus around a core fresh fruit offering. Berries, avocados, cherries, table grapes, mangoes and citrus fruits such as mandarins have been the defining feature of Frutura’s M&A strategy in the past five years, mainly centred on Latin America and the US.
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1 week ago | 
buff.ly | Simon Harvey
Frutura Produce is eyeing further acquisitions as the California-based grower seeks to focus around a core fresh fruit offering. Berries, avocados, cherries, table grapes, mangoes and citrus fruits such as mandarins have been the defining feature of Frutura’s M&A strategy in the past five years, mainly centred on Latin America and the US.
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2 weeks ago | 
just-food.com | Simon Harvey
Under the tutelage of CEO Jason Geary, UK baker Geary’s Bakery is looking to build on the success of its Jason’s Sourdough loaves, which have become the fourth-largest bread brand in the UK. The family business traces its roots back to 1906 but, with the rise in popularity of sourdough, it has grown from being a single-customer business with Aldi to selling in the major UK supermarkets.
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2 weeks ago | 
just-food.com | Simon Harvey
Croatia’s Žito Group has acquired a majority interest in local meat peer MI Ravlić. Žito Group, which operates out of the Slavonia region in north-east Croatia, did not reveal the size of the stake nor the price it has paid for the holding in the business, otherwise known as Mesna Industrija Ravlić. In a statement provided to Just Food, Žito descibed the deal as a “strategic partnership” and one that will “give new impetus to pig farming and the meat processing industry in Slavonia”.
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2 weeks ago | 
just-food.com | Simon Harvey
Calavo Growers, the Nasdaq-listed fresh produce business, has received a takeover approach from an unidentified suitor. The Santa Paula, California-based supplier of avocados, tomatoes, papayas and guacamole, said the “non-binding, indicative proposal” has been put on the table at $32 a share. Calavo Growers added in an official statement yesterday (11 June) that the offer consists of shares in the interested party and a cash portion.
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2 weeks ago | 
just-drinks.com | Simon Harvey
Beverages-to-cannabis business Tilray Brands has “paused” plans to reduce the number of market-traded shares as the company assesses its options. While Nasdaq-listed Tilray Brands said in a statement yesterday (10 June) that the reverse stock split has been approved by its shareholders, the North American business is holding back from proceeding. The beers and energy drinks maker said it was “exploring all options related to timing of the reverse split as it evaluates timing and stock price”.
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2 weeks ago | 
just-food.com | Simon Harvey
Del Monte Foods is closing a facility in Washington state this summer as the US fruit and vegetable business tries to reshape its network in line with demand. The permanent closure of the fruit products site in the city of Yakima also includes two warehouses, California-headquartered Del Monte Foods confirmed.
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2 weeks ago | 
just-food.com | Simon Harvey
Venture-capital deals in food-tech are likely to decline sharply this year in both value and transaction terms, Pitchbook research has suggested. Presenting its latest food-tech VC trends report, which includes deals in the beverages segment, Pitchbook painted a tough picture for the investing environment from both the buy and sell sides, with valuations still proving to be problematic.
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2 weeks ago | 
just-food.com | Simon Harvey
Planet Farms is not your typical vertical-farming business growing microgreens, salad leaves and herbs in a controlled indoor environment. The Italy-based company, set up in 2018 by Daniele Benatoff and Luca Travaglini, has its eyes on a bigger pie beyond leafy greens with coffee, and even cotton. And rather than being narrowly focused on supermarkets – Planet Farms has just won a contract to supply Waitrose in the UK – it aims to bag industrial customers, too.
