Last week in business news, Darling Ingredients invested in Specialty Proteins and Feed Sustainability by acquiring the 50 percent joint venture (JV) interest of EnviroFlight, LLC owned by Intrexon Corporation. This increases its ownership interest in EnviroFlight to 100 percent. Conagra Brands completed the divestiture of its Lender's Bagel business to Bimbo Bakeries USA and Campbell Soup completed the sale of Arnott’s and certain of Campbell’s International operations to KKR for approximately US$2.2 billion in cash. In sustainability news, the Food and Agriculture Organization (FAO) welcomed the decision by the United Nations (UN) to create two new international days and one international year devoted to issues directly related to food and agriculture.
In brief: Business news
Darling Ingredients has acquired the 50 percent JV interest of EnviroFlight, owned by Intrexon Corporation, thereby increasing its ownership interest in EnviroFlight to 100 percent. EnviroFlight is a developer of proprietary technologies that enable the rearing of non-pathogenic black soldier fly (BSF) larvae in a scalable manner. This innovative approach has considerable potential within the sizable global animal feed industry as it will provide an environmentally-friendly, toxin-free, sustainable source of high-value nutrients. Enviroflight opened the first commercial BSF facility in Maysville, Kentucky, in late 2018. Phase one of this production facility currently can produce 900 tons of dried BSF larvae annually.
Conagra Brands has completed the divestiture of its Lender's Bagel business to Bimbo Bakeries, a subsidiary of Grupo Bimbo, The transaction included the Lender's brand and related intellectual property, the production facility in Mattoon, Illinois and inventory.
Campbell Soup has completed the sale of Arnott’s and certain of Campbell’s International operations to KKR for approximately US$2.2 billion in cash, subject to customary adjustments. With this transaction, Campbell has now completed the sale of its entire Campbell International division, including Kelsen Group, for an aggregate price of approximately US$2.5 billion. Under the terms of the agreement, Campbell and KKR have entered into a long-term licensing arrangement for the exclusive rights to use certain Campbell brands, including Campbell's, Swanson, V8, Prego, Chunky and Campbell's Real Stock, in Australia, New Zealand, Malaysia and other select markets in Asia, Europe, the Middle East and Africa.
Bunge has agreed to sell its margarine and mayonnaise assets in Brazil to Seara Alimentos. The transaction includes three production plants and the brands used for these two products. The completion of the sale is subject to regulatory approval. As part of this deal, the companies have also negotiated supply, toll manufacturing and brand license agreements. Other branded products, including packaged oils, shortenings and specialty oils, will remain in Bunge's portfolio.
In brief: Sustainability
The FAO has welcomed the decision by the UN to create two new international days and one international year devoted to issues directly related to food and agriculture. The UN General Assembly adopted resolutions designating 2021 as the International Year of Fruits and Vegetables, 21 May as International Tea Day and 29 September as International Day of Awareness of Food Loss and Waste, following requests made by the FAO Conference. “Without healthy diets, we cannot hope to end malnutrition – and we will not eradicate hunger unless we curb food losses. The UN has taken a decisive step to promote fairer, greener, more efficient food systems,” says FAO Deputy Director-General for Climate and Natural Resources Maria Helena Semedo. Other resolutions adopted by the UN General Assembly focused on progress and challenges related to agriculture, food security and nutrition; sustainable mountain development; the role of agricultural technology; the importance of natural plant fibers for livelihoods and the environment, and the need to eradicate rural poverty.
Bonsucro has revealed the certification of Ingenio Taboga against the Bonsucro Production and Chain of Custody Standards. The company has become the first mill in Costa Rica to achieve Bonsucro certification. Ingenio Taboga was one of Bonsucro’s first members in Costa Rica when it joined in 2018. The mill is located in Guanacaste Province and started selling sugar in 1958. It is one of the country’s key producers of sugar, including organic and flavored sugars, ethanol and alcohol and electricity. Today, the company produces roughly 827,000 tons of sugarcane.
In brief: Other highlights
According to a survey, more than 70 percent of consumers made New Year's resolutions to diet or eat healthier this year. RealEats, a chef-designed, ready-to-eat meal delivery service that uses non-processed, fresh, nutrient-dense ingredients, has developed a convenient way to eat healthy in the new year, making it attainable for consumers around the country to keep their 2020 resolutions. RealEats provides chef-curated, healthy, farm-to-table meals that stay fresh for up to seven days when refrigerated. Plus, the meals are never frozen. Customers have the opportunity to select breakfast, lunch, or dinner meals and purchase them either through a monthly subscription.
