Swiss food group Aryzta announced today that it has bought two US bakery companies in separate deals worth a combined $1.08bn as a trading statement for the the nine months to the end of April show its sales in the period were down almost nine per cent.
A leading UK bakery, sugar and ingredients company is set to open a new factory this month to develop a larger range of artisan bakery goods which were identified as the source of strong first half performances in 2010.
Speculation about typical asset valuing ion the chemicals industry by Cognis’s chief financial officer, Marco Panichi, has led to a figure of €3.4bn being attached to the German ingredient company, as buy-out speculation mounts.
German chemicals and nutrients giant Cognis has turned in its best ever Q1 operating profit as sales across its three core divisions exceeded 2008 pre-financial crisis volumes in 2008 for the first time - fueling ongoing buy-out speculation.
Tate and Lyle now has new capacity for glucose syrup up and running at its facility in Slovakia, to cater to European demand and, in particular, underserved manufacturers in Central and Eastern Europe.
BASF continues to be the subject of rumours that its supervisory board has approved a takeover bid for fellow German supplier, Cognis, which is owned by Permira PERM.UL and Goldman Sachs Capital Partners.
As 20 per cent of SME loan applications are turned down, European Commission is mulling new ways for SMEs to access the funding they need – news that will be welcomed by smaller players in the food and beverage industry.
Senomyx revenues increased 120 percent in the first quarter of 2010 compared to the same period last year, as three of its major collaborators simultaneously launched products using Senomyx ingredients.
Last year was a bumper year for the biotech sector overall, according to a new report, as R&D budgets were slashed but majors’ sales soared. Innovative smaller firms may be feeling the pinch more, however.
New Britain Palm Oil (NBPOL) has completed a major acquisition that increases its plantation area by more than 50 per cent, at a time when a shift is underway towards use of oil produced without causing deforestation.
Signs of recovery in the bakery ingredients market are not yet evident, according to Dutch supplier CSM as first quarter results released this week show a decline in volumes by 1.2 per cent on Q1 2009.
Leiber is ramping up its yeast extract capacity by bringing its spray-drying activities in-house, as demand for brewery by-products is gradually increasing and third party spray-drying capacity is sought after.
Bread ingredients supplier, Sonneveld, claims its takeover by Orkla Food Ingredients (OFI) will not result in a narrowing of the bakery ingredients supplier base due to OFI’s decentralized business model.
The group behind ingredients firms CNI, Bio Serae, Afritec, Starlight Products and NutriProcess, has unveiled more details of its growth spurt strategy following the acquisition of 76 per cent of shares by its CEO, including a team dedicated to new products...
Tereos has combined its European cereal assets with its Brazilian subsidiary and Indian sugarcane business to create Tereos Internacional, and is setting itself up as a leader in starch ingredients, sugar and bioethanol.
Cargill’s bid to buy Goodman Fielder’s edible fats and oils business looks to be scuppered by the Australian competition authorities, who say it would be an unacceptable concentration of refining assets in the country.
Cognis claims to have steered a steady course through last year’s economic upheaval. But despite a return to profitability, the downturn took its toll on nutrition and health and care ingredients sales.