A petition filed in the New Zealand Parliament on August 16 challenges the Goods and Services Tax (GST) levied on food in the country; a tax that was first levied in the 1980s.
According to media reports, Archers Daniels Midland (ADM), worth $81bn, could acquire Noida-based Geepee Agri Private Ltd, a major Indian edible oil maker.
Vitafoods Asia trade expo will open its doors for the first time in Hong Kong to an expectant region in coming days – a culmination of more than two years work by the organisers of the show that has its foundation in Europe.
Australia-based Retail Food Group (RFG) will acquire the assets of New Zealand-based Evolution Coffee Roasters Group (ECRG) in a deal the latter expects will bolster its existing portfolio of products in the region.
Japan’s Asahi Group Holdings today announced an agreement to acquire 100% of Independent Liquor from Pacific Equity Partners and Unitas Capital in a 97.6bn Yen ($1.28bn) deal.
Bright Food’s acquisition of Manassen could be reassuring for consumers, according to an industry analyst, amid rumours that it is hoping to buy a 75% stake worth A$400m.
Stevia supplier GLG Life Tech has slashed its revenue expectations for 2011 and has seen its share price slip to a year low, as it reported its second quarter results.
Australian food manufacturer Goodman Fielder Ltd is set to open a new dedicated gluten free bakery in Huntly, New Zealand next month in order to cater to the rising demand for such products there.
Feihe International Inc., formerly known as the American Dairy, has announced that it intends to sell its two dairy farms in China to a Chinese Investment Company.
The Indian food retail sector may see an upswing in the very near future after a government panel agreed to recommend a policy change that will see foreign companies such as Tesco and Walmart be able to sell to Indian consumers.
US chocolate giant Hershey reported net income of $130.12m for the second quarter, with net income for the period up o $129.56m from $117.05m in the same quarter in 2010.
The Indian press is reporting that Danone is in “advanced talks” to buy the nutrition division of billion-dollar Indian pharma-focused firm, Wockhardt’s, for a price as high as €180m.
The Australian Competition and Consumer Commission (ACCC) has announced that it does not believe that supermarket operator Coles broke any competition rules when it dropped the price of it’s house brand milk to AU$1 a litre
Standard Chartered Private Equity (SCPE) has invested about US$56m in India-based bottler Varun Beverages Ltd, as a new market report hints at untapped potential in India's soft drinks market.
Volumes were boosted by continuing growth in emerging markets for SABMiller, who remained tight-lipped on its Fosters bid in its first quarter results.
The food processing industry in India will be forced to adopt new technologies and improve their productivity if the foreign direct investment into multi-brand retail is allowed.
Nestlé has paid out bought €1.2bn for a majority stake in leading Chinese confectionery maker Hsu Fu Chi, with the Swiss group flagging up access to extensive production capabilities and a major distribution network as its wins.
Asahi is to proceed with two Australian and New Zealand soft drinks deals, with the aim of becoming one of the world’s top food and beverage companies.
The Indonesian cocoa processing sector is ripe for further investment from multinational food manufacturers, a spokesperson from the country’s investment authority said.
Ingredients giant Barry Callebaut has confirmed its positive midterm outlook after posting a 7.3 per cent rise in sales volumes over the first nine months of the fiscal year.
New Zealand-based dairy giant Fonterra is now looking at expansion in India after a successful foray in China, including a recent bumper bond listing in Shanghai.
India-based rice exporter Kohinoor Foods Ltd has formed a joint venture with US-based spice maker McCormick for the marketing of basmati rice and other food products in India.
Mumbai-based food processor ADF Foods Ltd, which garners a majority of its sales revenue from overseas markets, is now looking to penetrate deeper into its home market of India.
DKSH Holdings Ltd, the Swiss market expansion services group focused on chemicals, food and drug industries, is making plans to further boost its business in India through local acquisitions, local newspaper Mint reported last week.
Private equity firm Lazard Australia is in talks with potential strategic partners in Asia to sell a portion of its stake in Australian biscuit maker Unibic Pty Ltd, Unibic’s managing director Michael Quinn told Reuters last week.
DSM has signed a joint venture agreement with a Chinese biotechnology company that will give the Dutch ingredients supplier its first enzyme manufacturing plant in China.
At Vitafoods Europe 2011, Jess Halliday caught up with event director Chris Lee to talk about the show’s ambitious expansion plans into Asia and South America.
CSM has opened a new facility for dry bakery mixes and mixes in China, which will allow it to step up capacity to meet demand from Asia and better serve local tastes.
Nestlé and General Mills’ joint venture Cereal Partners Worldwide (CPW) is investing €27m in a new Malaysian factory to enable the local production of Nestlé breakfast cereals in the country for the first time.
Nestle is planning to buy a 60 per cent share in China’s Yinlu Foods Group for an undisclosed sum, in a move that will help household brand Yinlu gain more traction in the Central and Western regions of the country.
Spice maker McCormick reported a 13 percent rise in its first quarter earnings, boosted by cost savings and strong domestic and Asian sales, the company said on Tuesday.
Beverage giant Coca-Cola is donating 2.5bn Yen (US$31m) to areas affected by the tsunami, earthquake and nuclear disaster that hit the country this month.
Aker BioMarine has signed its first agreement to supply a Chinese supplement maker with its branded krill oil, in a deal that paves the way for a new category in the country.
Leading Chinese probiotics supplier, China-Biotics, has pressed a deal with the country’s third biggest dairy to expand the number of probiotic strains it uses in yoghurt products.
As the world’s most populous nation with a strong economy, China is an attractive target for food manufacturers and their suppliers - but they cannot operate effectively in the region without a local presence, according to Torben Friis Lange, AAK vice...
