Consolidation

Saputo has made five acquisitions in the last 13 months, bumping up its revenue. Pic: Getty/haurashko_ksu

Saputo’s annual revenue jumps 17% after three acquisitions

By Beth Newhart

Saputo Inc. reported its latest fourth quarter and fiscal year results, ending March 31. It completed a series of acquisitions last year that contributed to higher revenue, while low cheese prices and struggles with the Canadian dollar hurt overall earnings.

Edge believes the aid will provide only partial and short-term relief for farmers. Pic: Getty/Annimei

USDA authorizes $16bn aid package for US farmers

By Beth Newhart

US President Donald Trump and US Secretary of Agriculture Sonny Perdue announced ‘several actions’ to help farmers in the wake of the recent trade war with China, including $16bn in aid.

Hochdorf said due to higher costs and depreciation the half-year result is expected to be significantly below that of the previous year.

News in brief

Hochdorf says first-half results will be down

By Jim Cornall

Switzerland’s Hochdorf Group has warned that its half year results are going to be worse than expected partly due to the challenges of integrating subsidiaries.

Kroger intends to use the after-tax cash proceeds to reduce its debt. Pic: Getty/martinrlee

Kroger completes Turkey Hill sale

By Beth Newhart

After announcing that it may drop its flagship dairy brand last August, Kroger sold Turkey Hill to Peak Rock Capital earlier this year. The agreement was completed this week for $215m.

Project Darwin aims to reduce cost and improve margins.

Müller confirms UK dairies review

By Jim Cornall

Müller Milk & Ingredients (MMI), Britain’s largest producer of branded and private label fresh and flavored milk, cream, butter and dairy ingredients, is to review its network of dairies as part of its £100m ($129.4m) Project Darwin program, and enter...

Venchiaredo makes stracchino, a soft, creamy cow’s milk cheese. Pic: ©Getty Images/fiore26

Granarolo ups stake in Venchiaredo

By Jim Cornall

Italian dairy company Granarolo S.p.A. has taken control of dairy company Venchiaredo S.p.A., after upping the amount of shares in the company from 33.47%, acquired in 2017, to 57.47%.

BDS South Africa said it commends Brimstone for interacting with organizations and members of the public, and for exiting the takeover.

South African company confirms withdrawal from Clover Dairy deal

By Jim Cornall

The human rights and Palestine solidarity organization BDS South Africa said it welcomes the announcement by the South African firm, Brimstone Investment Corporation, to fully exit the Israeli take-over of South Africa’s largest dairy company, Clover...