VKC Nuts, one of the dry fruits conglomerate and one of India’s largest exporter for walnuts, has announced a new strategic partnership with Reliance Retail Ltd, a subsidiary of Reliance Industries.
This long-term collaboration enables VKC Nuts to enhance the accessibility of its premium consumer brand Nutraj, the world’s finest nuts & exotic dry fruits, while Reliance Retail further strengthens its proposition in the whole foods segment. Nutraj encompasses a comprehensive variety of superior Indian and imported products ranging from exotics like dried cranberry, kiwi, prunes and hazelnut among others to traditional favourites like walnuts, almonds, cashews and more in plain, roasted and flavoured variants.
These products of Nutraj and Nutraj Signature will now be available in more than 500 stores across formats such as Reliance Fresh, Reliance Super and Reliance Mart pan India. Commenting on the association, Gunjan Jain, Managing Director VKC Nuts Said, “This association is part of our current focus to further strengthen Nutraj’s modern retail footprint in India. Over the past few years, the consumption pattern for dry fruits has steadily evolved in our country.” Over the past 90 years, VKC Nuts has cultivated an extensive trade network for exporting its superior quality walnuts to the world. By strategically leveraging this strength for Nutraj, the company is able to import the world’s best produce and mother earth’s finest ingredients at the most affordable prices for the Indian consumer.
ITC Ltd, the FMCG major has acquired India unit of Australia-based agri-biotech company Technico Pty Ltd for 1.21 billion rupees ($18.10 million), the company said, in the latest attempt at consolidating its presence in the agribusiness segment.
ITC has acquired the entire equity share capital of seed potato producer Technico Agri Sciences Ltd India, a wholly-owned subsidiary of its Australian parent, the company said in a stock exchange filing on Thursday, reported Reuters.
The acquisition, completed on March 22, will help improve business and operational synergies in the agribusiness segment, ITC shared.
Kraft Foods Group Inc, the maker of Velveeta cheese and Oscar Mayer meats, will merge with ketchup maker H J Heinz Co, owned by 3G Capital and BerkshireHathaway Inc, to become the third largest food company in the US, reported BBC.
With this merger, the group will form the world's fifth-largest food and beverage company.
The deal was engineered by Heinz's owners, the Brazilian investment firm 3G Capital, and billionaire investor Warren Buffett's Berkshire Hathaway.
Current Heinz shareholders will own 51 per cent of the combined company with Kraft shareholders owning a 49 per cent stake.
Kraft's shares rose about 17 percent in premarket trading after the announcement of the deal, which will bring Heinz back to the public market following its takeover two years ago.
The combined company will have revenue of about $28 billion, the companies said in a statement on Wednesday.
Kraft shareholders will get one share in the combined company, to be called the Kraft Heinz Co, and a special cash dividend of $16.50 for every share held.
The dividend, which totals about $10 billion, will be funded by Berkshire and Brazilian private equity firm 3G Capital.
The combined company will have eight brands worth more than $1 billion each and five worth $500 million-$1 billion each, the companies said.
The combined company's brands will include Kraft, Heinz, and Oscar Mayer.
Pic Courtesy: Dispatch.com
Global online food delivery marketplace Foodpanda and Delivery Hero today announce a series of separate acquisition deals. These acquisitions enable both companies to optimise their international growth strategy.
Foodpanda takes over TastyKhana in India, extending its leading position in one of the biggest food delivery markets worldwide.
TastyKhana, started in 2007, has been one of the first food delivery portals in India. TastyKhana will remain an independent brand. Together, Foodpanda and TastyKhana will partner with over 10,000 restaurants in India, covering over 173 cities.
At the same time, Foodpanda also acquires the Mexican food delivery businesses PedidosYa, SeMeAntoja and Superantojo and targets market leadership in Mexico.
The group has been operating in the Mexican market since December 2012 under the hellofood brand. After the acquisitions, Mexican customers in 10 cities will have the selection from over 2,500 restaurants.
“Latin America holds a central role in our long-term strategy. With these acquisitions we further extend our leading position in a region with tremendous growth” said, Niklas Östberg, CEO, Delivery Hero Holding.
Delivery Hero acquires the hellofood businesses in Argentina, Chile, Colombia, Ecuador and Peru, and captures its market leading position in these markets, aggregating 17,500 restaurants across eleven countries in Latin America, including Argentina, Brazil, Chile, Colombia, Ecuador, Panama, Paraguay, Peru, Puerto Rico, Uruguay and Venezuela.
“The acquisitions allow us to extend our market leadership in India and improve our strong position in Mexico. Combined with our efforts in other important markets such as Russia, Brazil and South East Asia, where we already gained a leading position, we are best positioned to accelerate growth and become the ‘Amazon’ of food ordering in emerging markets” said, Ralf Wenzel, Co-Founder and Managing Director, Foodpanda.
Mondelez International Inc and competitor DE Master Blenders plans to merge their coffee businesses in a deal aimed at taking on market leader Nestle SA .
The merging will take place between Mondelez's grocery coffee brands such as Carte Noire and Gevalia and DE Master Blenders' L'OR, Pilao and Senseo brands.
Mondelez, which recently renamed its India wing Cadbury India as Mondelez India after its parent company Mondelez International which had acquired Cadbury Plc globally in 2010.
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