Consolidation

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...

The Kerrygold Butter is now the number two butter brand in the US, with 2.6m packets sold every week. Pic: Ornua

Ornua notches a €40m operating profit in 2018

By Beth Newhart

Ornua, producer of the Kerrygold brand, released its full-year 2018 results that showcased a strong performance in its key European and US markets. It also broke ground on a cheese facility in Spain and prepared for potential fallout from the Brexit deal....

 Leeb Biomilch focuses on dairy and fresh products (especially yogurt) from organic goat and organic sheep milk.

Emmi acquires majority stake in Leeb Biomilch

By Jim Cornall

Swiss dairy company Emmi has gradually been expanding its international goat’s milk network since 2010. It has now acquired a 66% stake in Austrian goat and sheep milk processor Leeb Biomilch GmbH.

DMK said it is opening up additional segments with this acquisition.

DMK Group acquires Alete

By Jim Cornall

German dairy cooperative Deutsches Milchkontor (DMK) is taking the next step in its realignment process. In order to further develop the baby food business sector, DMK has acquired the brands, as well as sales and distribution channels, of Alete GmbH...

Kroger has recently put new emphasis on its ecommerce platform by launching Kroger Ship last summer.

Peak Rock acquires Turkey Hill Dairy from Kroger

By Beth Newhart

Peak Rock Capital has signed an agreement to acquire the Turkey Hill Dairy business from The Kroger Co., known for ice cream, refrigerated drinks and other dairy products. It marks Peak Rock’s eighth current investment in the food and beverage industry.

The sale of Westland to Yili is subject to shareholder and High Court approval. Pictured: Westland's Rolleston plant.

Yili set to buy NZ’s Westland for $404m

By Jim Cornall

The board of New Zealand’s Westland Co-operative Dairy Company Limited has signed a conditional scheme implementation agreement to sell the West Coast dairy cooperative to Hongkong Jingang Trade Holding Co., Limited (Jingang), a wholly-owned subsidiary...

Dean Foods is looking into several options to position the brand for the long term, despite poor 2018 numbers.

Bernstein drops Dean Foods after poor 2018 performance

By Beth Newhart

After a disappointing 2018 for Dean Foods, it revealed last month that it was considering a sale. Investment management firm Bernstein has announced that it is “discontinuing coverage of Dean Foods (DF) due to the stock's diminished market cap and...

Dean Foods plans to invest in its core capabilities, technology, infrastructure, people and systems.

Sharp loss in profit forces Dean Foods to consider sale

By Beth Newhart

A disappointing fourth quarter for Dean Foods rounded out an under-performing 2018, causing the dairy giant to explore alternatives in its ‘business transformation.’ It is considering a joint venture, business combination or even a sale.

Glanbia has acquired Watson, a US non-dairy ingredient solutions business.

Glanbia finalizes acquisitions, wraps up 2018

By Beth Newhart

Glanbia plc released its 2018 financials this week, revealing growing profits on the back of a few high-profile acquisitions. The nutritional ingredients and dairy business is dipping into the non-dairy sector and reorganizing its board of directors in...

Arla Foods CEO Peder Tuborgh, Chairman Jan Toft Nørgaard and CFO Natalie Knight answer questions at the 2018 annual results press conference.

Arla pays out all 2018 profits to farmers

By Beth Newhart

In its 2018 wrap-up report, Arla Foods announced that it would pay out its full net profit for 2018 of €290m ($329m) to farmers. It also discussed the progress of in-house cost-savings program Calcium and pending sustainability efforts.

General Mills expects the plant closure to cost roughly $130m.

General Mills to shutter yogurt plant in California

By Beth Newhart

General Mills is focusing on ‘restructuring actions’ in its yogurt business and closing a facility in Carson, Calif. The company also reaffirmed its end-of-year financial targets at an investor conference in New York.

Overall US cheese production likely reached 13 billion pounds in 2018. Pic: ©GettyImages/ShotShare

US cheese surplus not an 'unusually enormous amount'

By Beth Newhart

Last month, the American Dairy Coalition (ADC) called attention to the record 1.4 billion pounds of surplus cheese currently in US cold storage. But it may not have a simple solution, or even be as big of a problem as the public thinks.

LDC's oilseeds asset in Bahía Blanca, Argentina. The company is leaving non-core areas to refocus on its core businesses. Pic: ©LDC

Louis Dreyfus Company ditches dairy

By Jim Cornall

Dutch merchants and processors of agricultural goods Louis Dreyfus Company B.V. (LDC) is dropping its dairy business by mid-2019.

Dairy equipment like this is available regularly at auctions, but not often in southern Florida. Pic: ©GettyImages/BrianAJackson

New Mill Capital hosts fluid milk jug plant auction in Florida

By Beth Newhart

Machinery from a high volume fluid milk jug plant in southern Florida is up for auction this week, including milk silos, homogenizers and processors. Auctioneers New Mill Capital will oversee the online sale, open to all global customers.

Cargill reports a 20% earnings loss in Q2

By Beth Newhart

Cargill took a hit in its second quarter with a 20% drop in net earnings compared to the year-ago period. It cited a ‘world of uncertainty’ affected by the struggling US dairy industry and lingering trade wars throughout 2018.

The sale is expected to boost Axéréal's global malt footprint.

Cargill sells malt business to Axéréal

By Beth Newhart

French grain cooperative Axéréal will acquire Cargill’s malt business under the Axéréal malt subsidiary Boortmalt, affecting 15 global facilities and more than 500 people.

FrieslandCampina acquires second US company

By Beth Newhart

The Dutch Royal FrieslandCampina N.V., a global dairy brand, closes out a busy December with the announcement that it has acquired Best Cheese Corporation USA, importer and vendor of specialty cheeses. It’s the second US company it has picked up this...

The facility manufactures fresh, extended shelf-life and aseptic dairy products for grocery store chains and organic milk brands.

DFA to buy Agropur Minnesota facility

By Jim Cornall

Dairy Farmers of America (DFA) and Agropur have announced they have entered into an agreement for DFA to acquire Agropur’s St. Paul, Minn., facility.

The large-scale plant is likely to transform its host St. Johns, a small central Michigan town. Pic: ©GettyImages/pia_ch

Ground breaks on major dairy plant in Michigan

By Beth Newhart

After announcing plans over the summer for a large-scale cheese and whey processing plant in St. Johns, Mich., construction has officially broken ground on the facility this month.

The acquisition is expected to take place in January 2019.

Agrial to buy German cheese company

By Jim Cornall

French dairy cooperative Agrial is set to acquire German company Rotkäppchen Peter Jülich Group, which specializes in cow and goat milk cheeses.

Dean Foods reveals disappointing Q3 with seven plant closures

By Beth Newhart

Dean Foods posted a loss of 28 cents per share, or $26.4m in its third quarter. It also closed and consolidated seven manufacturing facilities within six weeks, racking up ‘significant transitory costs’ that are expected to continue.

Noosa has tripled its sales, market share and local production capacity in the last four years.

Noosa yogurt acquired by Sovos Brands

By Beth Newhart

Australian-style yogurt brand Noosa is merging into Sovos Brands, a CPG collector with an Italian portfolio and financial backing from Advent International.

Saputo will take over 170 employees in the deal.

Saputo acquires F&A Dairy for $85m

By Beth Newhart

Saputo Inc. announced Friday that it will acquire F&A Dairy Products Inc. for $85m, including two manufacturing facilities and approximately 170 employees.

Left to right, Andrew McConkey, chairman, LacPatrick Dairies; Michael Hanley, CEO, Lakeland Dairies and Alo Duffy, chairman, Lakeland Dairies.

Lakeland Dairies and LacPatrick Dairies to merge

By Jim Cornall

Irish cooperatives Lakeland Dairies and LacPatrick Dairies have reached agreement to merge following the unanimous approval of the boards of both cooperative societies who are recommending the proposed merger to their respective shareholders.

The company said top line revenue increased from NZ$759m (US$502m) to NZ$879m (US$581m).

Synlait doubles profit and takes over cheese company

By Jim Cornall

Synlait has reported a net after tax profit of NZ$74.6m (US$49.3m) for the year ending July 31, 2018, almost double the NPAT of NZ$39.5m (US$26.1m) announced for the same period last year.

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