Consolidation

GettyImages/JeanUrsula

Danone commits to costly exit from Russia

By Teodora Lyubomirova

The transaction could lead to a write-off of up to €1bn but the multi-national says this is ‘the best option’ to ensure long-term business continuity.

Pic: Getty Images/SB

BiaVest and Development Capital to acquire Nomadic Dairy for €29m

By Jim Cornall

Food investment group BiaVest has partnered with Development Capital to acquire Donegal-based Nomadic Dairy from Donegal Investment Group plc for an upfront amount of €23m ($26.7m) and up to €6m ($7m) deferred consideration, contingent on FY 2022 financial...

Dairy Dialog podcast 157: Bubs, Ornua

Dairy Dialog podcast 157: Bubs, Ornua

By Jim Cornall

This week, we have interviews with Rick Pedersen, president, Ornua Ingredients North America, and Dennis Lin, chairman of Bubs. We also have our weekly look at the global dairy markets with Charlie Hyland at StoneX.

Pic: Lactalis

Lactalis completes acquisition of Leerdammer and Shostka

By Jim Cornall

Global dairy company The Lactalis Group has acquired the European cheese brand Leerdammer, in an operation that includes Royal Bel Leerdammer The Netherlands, Bel Shostka Ukraine, the commercialization of Bel products in Italy, Germany and Ukraine and...

Ronin said existing management and the acquired companies’ founders will retain a significant stake in the new group. Pic: Getty Images/pichet_w

Ronin Equity Partners acquires three specialty US cheese companies

By Jim Cornall

US based Ronin Equity Partners has acquired three specialty cheese companies: Red Apple Cheese, which produces smoked, flavored, and kosher specialty cheeses; Barron County Cheese, a smoker and co-packer for the specialty cheese industry; and Cheese Brothers,...

Pic: Getty Images/pichet_w

More than 40 dairy company deals in 2020

By Jim Cornall

Nestlé, Constellation Brands, Diageo, Keurig Dr Pepper, New Age Beverages and Pernod Ricard were the most acquisitive companies of 2020, according to the Zenith Global food and drink transactions database, with each responsible for five or more takeovers....

The three-year plan expects a significant growth in turnover in the 2021-2024 period, with a corresponding improvement in margins.

Italian cheese companies Agriform and Parmareggio merge

By Jim Cornall

On January 1, 2021, the largest Italian company in the world of PDO cheeses was born from the merger between Agriform and Parmareggio, two Veneto and Emilia Romagna companies in the sectors of Grana Padano PDO and Parmigiano Reggiano PDO, respectively.

Some of the Iögo, Iögo Nanö and Olympic brand products. Pic: Lactalis

Lactalis Canada buying Agropur's Canadian yogurt business

By Jim Cornall

Lactalis Canada Inc., formerly Parmalat Canada Inc., a subsidiary of Lactalis Group, has reached an agreement with Agropur Cooperative to acquire all shares of its Canadian yogurt business, Ultima Foods Inc.

The intended closure of the Genk location, with the loss of 211 jobs, is expected at the end of 2021. Pic: FrieslandCampina

FrieslandCampina to close Belgian cheese facility

By Jim Cornall

Dutch dairy cooperative FrieslandCampina said it is restructuring its cheese packaging activities and intends to close its location in Genk, Belgium, with the loss of 211 jobs.

Tank production at Krones' Waukesha facility. Pic: Krones

Krones launches Krones Process Group North America

By Jim Cornall

Processing, packaging and technology company Krones Inc. has launched Krones Process Group North America to provide a more cohesive offering to the beverage, dairy, and food industries in North America, Central America, and the Caribbean.

The company has partnered with plastics manufacturers and consumer products companies such as PepsiCo, Nestlé, Genpak, WinCup, Columbia Packaging Group and Plastic Suppliers Inc. Pic: Danimer Scientific

Danimer Scientific to become a public company

By Jim Cornall

US-based Danimer Scientific, a next-generation bioplastics company focused on the development and production of biodegradable materials, and Live Oak Acquisition Corp., a publicly-traded special purpose acquisition company, have announced a definitive...

Fonterra said it expects to use the proceeds from the two transactions to pay down debt, as part of its debt reduction program. Pic: Getty Images/Inzyx

Fonterra sells China farms

By Jim Cornall

Fonterra has agreed to sell its China farms for NZ$555m (US$368.9m), after successfully developing the farms alongside local partners.

Hochdorf said it expects the relocation to generate synergies in cooperation and to result in cost savings and increased efficiency.

Hochdorf moves to strengthen Bimbosan brand

By Jim Cornall

Swiss dairy company Hochdorf said the discontinuation of wheat germ production at its Hochdorf site will release production and storage space for use by Bimbosan AG from the end of January 2021.

Chinese dairy company Mengniu purchased Australian company Bellamy's last year, but could not complete a deal for Lion Dairy & Drinks.

Mengniu pulls plug on Lion deal

By Jim Cornall

In November 2019, China Mengniu Dairy Company Limited announced the planned acquisition of Lion-Dairy & Drinks (LDD) Pty Ltd in Australia.

Beston said the sale would enable it to reduce debt and take advantage of opportunities in line with the company’s long-term business plan.  Pic: Getty Images/nedjelly

Beston sells dairy farms for $40.4m

By Jim Cornall

Australia’s Beston Global Food Company Limited has signed an agreement with Aurora Dairies for the sale of its dairy farms in Mount Gambier to Aurora for A$40.4m (US$27.5m) in cash.

Hochdorf is concentrating its efforts on its baby care and dairy ingredients divisions.

Hochdorf to liquidate three subsidiaries

By Jim Cornall

Hochdorf Group in Switzerland is dissolving some of its companies to continue with last year’s announcement of a strategy to focus on its baby care and dairy ingredients divisions.