Mergers & Acquisitions
Nestlé S.A. has reached an US$840 million agreement with Osem Investments Ltd., Israel’s largest publicly-traded food company, to acquire the 36.3-percent of the capital it does not currently own. If approved by Osem’s minority shareholders, the deal would be Nestlé’s largest acquisition in the food industry since 2012, when the company acquired Pfizer Inc.’s infant-nutrition unit for $11.9 billion.
Archer Daniels Midland Co. (ADM) reached an agreement to purchase a controlling stake in Harvest Innovations, an industry leader in minimally processed, expeller-pressed soy proteins, oils and gluten-free ingredients. Harvest Innovations is based in Indianola, Iowa, and has a second processing facility in Deshler, Ohio. The company uses expeller pressing to turn grains, legumes and oilseeds into minimally processed, non-genetically modified organism (GMO), organic, gluten-free ingredients. Products range from non-GMO soy chips, expeller-pressed soy flour and textured vegetable protein, to organic soy crisps, to gluten-free flours and pastas. ADM anticipates closing the transaction, which is subject to regulatory approval, in the coming months.
Seviroli Foods Inc., creator of artisan filled pasta and sauces, announced an asset purchase of D’Orazio Foods Inc., a purveyor of frozen Italian foods, such as shells, crepe manicotti, stuffed rigatoni and more. The acquisition bolsters Seviroli Foods’ presence in the consolidating frozen pasta sector.
Private equity firm Harris Williams & Co. announced the sale of PANOS brands LLC (PANOS) to Hammond, Kennedy, Whitney & Company, Inc. PANOS is a provider of branded consumer foods and has expanded its focus to include high-quality, better-for-you products in the specialty, natural, organic and mass grocery channels. Its portfolio of natural and specialty food brands include Andrew & Everett, KA-ME, MI-DEL, Sesmark, Amore and Chatfield’s.
PGP International, a developer of extruded particulates, high-protein soy crisps, rice flours and blends, and gluten-free products, announced it recently passed the Version 7 BRC Certification audit with an AA rating that translates as zero non-conformances. The BRC Certificate covers seven comprehensive sections including quality management, process control, site standards, continual improvement and personnel. The new version of the Certificate includes additional elements such as food fraud and allergens.
Personnel, Awards, Business Ops
James Walker, Walker’s Shortbread, was presented the ISM Award 2016 for exceptional services in the sweets and snacks industry. The award was given during a gala evet at ISM, the world’s largest trade fair for sweets and snacks, in Cologne, Germany. The jury of the ISM Award comprises of international representatives from the industry, trade and field of science.
Bell Flavors and Fragrance appointed Karen Graves to the position of sensory director at Bell’s headquarters in Northbrook, Illinois. Graves brings 12 years’ experience in sensory and consumer research, having worked at Kraft Foods.
Flavor & Fragrance Specialties Inc., (FFS) announced the promotion of Dianne Flynn to senior regulatory affairs associate.
AIB International announced a number of global leadership changes. Stephanie Lopez has been named vice president, Food Safety Services, Americas, Jeff Wilson will take on the role of vice president, Europe, Asia and Africa (EAA). Maureen Olewnik, Ph.D., was named principal, Industry Affairs, and Alfonso Capuchino will step in as general manager, AIBI Certification Services.
The Schwan Food Company announced the formation of Schwan’s Chef Collective, a team of up-and-coming chefs from across the United States who will assist in developing the next generation of Schwan-branded frozen foods. The announcement comes on the heels of the company’s simplicity ingredient initiative to provide food that meets a variety of consumer needs, including certified gluten-free, certified organic, no sugar added, low sodium, low calorie, vegetarian and heart-healthy options that are already available in its broad food portfolio.
Pure Foods, a specialty snack company, opened its global headquarters and primary manufacturing location in Kingsport, Tennessee. The 88,000-square-foot, state-of-the-art manufacturing facility produces nutrient-dense and reduced-fat snack foods for distribution in Canada, the United States and Mexico. The new Kingsport location offers industry-unique techniques and technologies that allow for the integration of fresh fruits and vegetables into snack forms, preserving up to 95-percent of nutrient value while reducing food waste, cost and overall impact on the environment. Pure Foods also announced the acquisition, under license, of the Guiltless Gourmet brand of baked tortilla chips from the Manischewitz Company of Newark, New Jersey.
Lloyd’s Register Quality Assurance (LRQA), a leading professional assurance services firm, announced delivery of responsible sourcing audits to the world’s best known brands. Alongside customized audits, LRQA delivers SMETA (SEDEX Members Ethical Trade Audit) 4-pillars audits, which are designed to go beyond the requirements of a standard 2-pillar SMETA audit, and place equal emphasis on four key areas; labor standards, the environment, health & safety and business integrity.