Last week in business news, specialty protein and starch provider MGP Ingredients planned to build an extrusion plant to produce the Proterra line of texturized proteins, while Denholm Seafoods received US$20 million funding from the Hongkong and Shanghai Banking Corporation UK (HSBC) for its international growth plans. Meanwhile, in NPD news, Hershey’s launched the “She” bar to celebrate Women’s History Month and Beartown Brewery launched the Big Jet TV beer to commemorate Storm Eunice.
In brief: Business moves
MGP Ingredients, provider of specialty proteins and starches, will build a US$16.7 million extrusion plant to produce its ProTerra line of texturized proteins. The factory will be online in late 2023. The new plant will be located adjacent to the company’s existing Kansas-based plant and is expected to produce up to 5000 tons of ProTerra a year. Sabetha will lead the facility’s design. The new plant will help the company meet the ProTerra product line demands and give it more control over manufacturing.
Denholm Seafoods, a fish processing business in Peterhead, Scotland, received £15 million (US$20 million) funding from HSBC UK to support its international growth plans. UK Export Finance backed the grant (UKEF) and the General Export Facility (GEF). The pelagic fish business, which processes herring and mackerel, wants to expand in European and Asian markets.
Global protein imports specialist, Hilton Food Solutions, has bought a 25% share of Alf Turner Sausage Company. The purchase will improve access to the direct-to-customer (D2C) channel. The company specializes in exports to the EU and Australasia.
In brief: NPD
Hershey’s celebrated the role of women and girls with the launch of the colorful “She” bar as part of Women’s History Month. In addition, the chocolate brand donated US$150,000 to Girls on the Run, a non-profit organization supporting, empowering and inspiring girls. The company was named #1 on the World’s Top Female-Friendly Companies list by Forbes in 2021. The company is among a handful of Fortune 500 companies led by women.
As thousands of Brits were gripped to Big Jet TV’s live stream of planes attempting to land at Heathrow Airport during Storm Eunice last week, Beartown Brewery, an independent brewer based in Congleton, Cheshire, created a pale ale flavored beer, “Big Jet TV” to commemorate the occasion.
In brief: Sustainability
Coffee brand Zoo Group pledged to source only cage-free eggs and egg ingredients for all stores in China by 2025. The group operates more than 100 cafes in China and restaurant brands Zoo Kitchen, Foxy Cake and Zoo Steak and has expanded across Europe and Asia.
The Future Food-Tech global summit in San Francisco on March 24 and 25 will feature 55 start-ups. Investors, food brands, retailers, ingredient manufacturers and technology providers will be present for two days of networking to accelerate technologies across the agri-food supply chain. Givaudan, for example, selected three finalists to tackle its Innovation Challenge: “Natural ingredients that support immunity, energy and sleep,” i.e., Comet Bio, Nutrition Innovation and Tait Labs. Danone North America’s finalists in the Innovation Challenge: “Technologies to improve the texture and melting properties of plant-based cheese” are Alfred’s Food Tech, Cultivated Biosciences and The Melt.
In brief: Other highlights
The Agriculture and Horticulture Development Board (AHDB) will promote “red meat from the UK” at the 47th Foodex trade show in Tokyo, Japan, on March 8. Japan is a valuable export market for the UK, with pork shipments last year valued at almost £3.7 million (US$5 million), up 76% compared to 2020. AHDB’s Consumer Insight team has produced a Country Focus Report on Japan, looking at consumer trends and market opportunities.
The Central Plains Group (CPG) boosted exports of specialist agricultural equipment and potato seeds after receiving £2.2 million (US$2.9 million) from UK Export Finance (UKEF) and Credit Agricole for its operations in Ukraine. The financing supports the Scottish firm in harvesting 40,000 tons of potatoes and fulfilling crisping potato contracts across Europe.
The deal worth approximately £113 million (US$153 million) is vital to UK farmers. Ukraine is a significant potential export market for UK suppliers of agri-tech, equipment and potato seeds. The country produces 20 million tons of potatoes a year and is the second-largest consumer of potatoes worldwide.
BASF, Syngenta, and Arisa partnered in Wage Improvements in Seed Hybrids (WISH) to address child labor and strive for minimum wage compliance in the vegetable seed sector in India. The four-year project was co-founded with a Dutch Enterprise Agency (RVO) grant. In the first phase, it will research payments still below minimum wages and child labor and the violation of labor rights. Glocal Research and MV Foundation will independently collect the data. In the second phase, WISH will implement strategies that address the root causes of gaps in the minimum wages and child labor regulations in the vegetable seeds sector.
The more than 1,600 member-dairy farms of Land O’Lakes will adopt new on-farm sustainability commitments by 2025. Within the next four years, all its dairy farm owners will complete a sustainability assessment aligned with the US Dairy Stewardship Commitment and maintain compliance with the National Milk Producers Federation’s National Dairy Farmers Assuring Responsible Management (FARM) program.
