Food
FSSAI directs States to step up food safety checks on dairy analogues
FSSAI has directed all States and Union Territories to intensify surveillance on Dairy Analogues during March due to the festive season. Dairy Analogues are products resembling milk but containing non-milk constituents. This move aims to prevent food adulteration and mislabelling during high demand periods, ensuring compliance with food safety regulations and protecting consumers.
Godrej Agrovet to acquire residual 48 pc in 'Godrej Jersey' for Rs 930cr
Godrej Agrovet will acquire the remaining 48.06% stake in Creamline Dairy Products for Rs 930 crore, making it a wholly owned subsidiary. This Hyderabad-based company deals in milk procurement and processing. The transaction, involving a share purchase agreement, is expected to be completed by September end. Godrej Agrovet's shares closed down at Rs 735.65 on BSE.
Nestle partners with Thakral Innovations as distribution partner for Nespresso
Nestle has partnered with Thakral Innovations to distribute Nespresso boutiques in India across various channels, including retail, online, and B2B. Nespresso plans to expand in metro cities, targeting young coffee enthusiasts. Nestle reported significant growth in its beverages sector, with Nescafe driving retail sales past Rs 2,000 crore over the past year.
Wow! Momo enters instant noodles market with cup noodles, eyes Rs 100 cr revenue in 2 yrs
Wow! Momo, a leading homegrown QSR chain, has launched Wow! Noodles, entering the instant noodles market with a variety of Asian and Indian flavors. The company aims to generate Rs 100 crore revenue from the new product in 24 months, expanding its presence in traditional and online retail channels.
India's edible oil imports hit 4-year low, depleting inventories
India's edible oil imports in February fell to their lowest level in four years, with significant declines in soyoil and sunflower oil imports. This drop led to the lowest inventory levels in three years. February saw a slight increase in palm oil imports, while overall vegetable oil imports decreased by 12%, necessitating anticipated purchases in the coming months.
Centre to support food processing industry with slew of schemes: Official
The Centre has introduced several subsidy schemes to support the food processing industry, targeting micro to large units to reduce food wastage and extend shelf life. With Rs 400 crore allocated for small and medium units, there's a significant opportunity for investments. The ministry will also host World Food India in Delhi to highlight the sector.
Summer sales sizzle early: Soft drinks and ice creams see 25% YoY surge in March quarter
India experienced its hottest February in 125 years, resulting in a significant increase in sales of cooling products such as soft drinks, air-conditioners, coolers, and ice-creams, which saw a rise of 20-25%. Manufacturers and retailers are ramping up production and supply chains to meet early summer demand.
Cargill inaugurates new corn milling plant in MP to meet growing demand
Cargill has opened a new corn milling plant in Gwalior, Madhya Pradesh, in collaboration with Saatvik Agro Processors to address rising domestic demand. The facility, with an initial capacity of 500 tonnes per day, aims to produce high-quality starch derivatives and could expand to 1,000 tonnes daily, potentially exploring export opportunities in the future.
Wits, prices and margins: India's cola war is getting hot
Coca-Cola and PepsiCo are striving to maintain their market positions while expanding their reach in India as Reliance revives Campa Cola with aggressive pricing. The re-ignited cola wars include strategic distribution expansions and competitive advertising campaigns, poised for significant growth.
Patanjali inaugurates Asia's largest orange processing unit in Nagpur
Patanjali has inaugurated Asia's largest orange processing plant in Nagpur, Maharashtra, with a capacity of 800 tonnes per day. The project, costing Rs 1500 crore, aims to benefit farmers and create numerous jobs, focusing on zero-waste operations and producing export-quality products.
Must Watch
PepsiCo to double India revenue in 5 yrs, invest in capacity building in key market
PepsiCo plans to double its revenue in India over the next five years, considering the country a key anchor market. The company is making aggressive investments to expand its capacity, focusing on sustainable solutions and region-specific strategies to drive growth in the Indian market.
Araku Coffee should become next Starbucks: Andhra CM Chandrababu Naidu
Andhra Pradesh Chief Minister N Chandrababu Naidu aims for Araku Coffee to become a global brand like Starbucks, establishing 100 pilot outlets. Agreements to expand Araku Coffee, partner with international entities, and support rural women were signed, alongside financial and training initiatives to empower women, including distributing free sewing machines and electric vehicles.
Ready for bottling opportunity from Coca-Cola in foreign territories: Kandhari Global Beverages
Kandhari Global Beverages aims to double its turnover in 5-6 years and is prepared for more Coca-Cola bottling opportunities, including abroad. The company recently acquired Coca-Cola's bottling operations in North Gujarat and plans substantial investments in supply chain, sales execution, digitalisation, and sustainability.
Bake or break? ChrysCapital, Theobroma in talks again
ChrysCapital is in discussions to acquire Theobroma Foods at a reduced valuation of Rs 1,800 crore, down from Rs 3,000 crore. Talks had stalled due to Theobroma's poor financial results but have recently resumed. ChrysCapital plans to create a quick-service restaurant platform by acquiring brands like Theobroma. Market conditions and declining consumer spending have impacted the valuation.
Blackstone out of race for Haldiram's over valuation, sources say
Private equity investor Blackstone has withdrawn from acquiring a minority stake in India's Haldiram's snacks business due to valuation disagreements. Blackstone sought a 15% stake with a $8 billion valuation, while Haldiram's desired $10 billion. Rival bidder Temasek remains interested. Additionally, there was a conflict regarding the timeline for Haldiram's potential IPO.
Adani Wilmar to acquire GD Foods Manufacturing at Rs 603 crore
Adani Wilmar Ltd has signed an agreement to acquire GD Foods Manufacturing, known for its Tops brand. The acquisition will occur in stages, with 80% of shares acquired initially and the remaining 20% over three years. GD Foods achieved a revenue of Rs 386 crore in FY24, expanding Adani Wilmar's portfolio with high-quality food products catering to North India.
