The briefing on the latest food developments
The news and data you need to know about the industry
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Nestlé is planning to build a facility in India to expand the production capacity of its Maggi noodles. The facility will be built by the company with an initial investment of Rs7bn ($99.2m) over a period of two years.
EU and US sign an agreement for imports of hormone-free beef
The European Union (EU) and representatives of the US Government have signed an agreement to review the functioning of an existing quota to import hormone-free beef into the EU.
Investment firm KKR has signed a stock and asset purchase agreement with Campbell Soup Company to acquire certain international operations from Campbell for an enterprise value of nearly $2.2bn.
US-based Conagra Brands is recalling nearly 32,400lb of canned beef products due to a potential processing defect. According to the US Department of Agriculture’s Food Safety and Inspection Service (FSIS), the processing defect could lead to the survival of bacterial pathogens.
Morrisons to open beef supply chain to Arla farmers
Arla Foods has signed an agreement with UK supermarket chain Morrisons to cover its beef supply chain. As per the terms of the agreement, Morrisons will include bull calves from its dairy suppliers that participate in the Arla UK 360 programme in its beef supply chain.
The Irish Government has announced €100m of funding for beef farmers in preparation for potential volatility and uncertainty in the market after Brexit. The Beef Exceptional Aid Measure (BEAM) will be funded by a combination of EU exceptional aid and Exchequer support.
US-based food manufacturing firm Kellogg Company has completed the sale of Keebler cookies to the Ferrero Group and its related companies for $1.3bn. The divestiture includes a portion of Kellogg’s North America snacking business.
EU buyers shunning long-term contracts over no-deal Brexit fears, UK meat body warns
European Union-based buyers are not committing to long-term contracts with UK meat suppliers over fears of no-deal Brexit tariffs, according to industry body the British Meat Processors Association (BMPA). The BMPA reported that European customers considering buying British meat are now being confronted with multiple risks, which they are not prepared to take.