Britvic acquires Extra Power energy brand in Brazil

Britvic has acquired the Extra Power energy drink brand in Brazil from GlobalBev. This marks an important extension of Britvic’s Brazilian operations, consistent with Britvic’s strategy to accelerate and expand its presence across Brazil. With 42% market share in its core regions near Brasilia, Extra Power enables access to the fast-growing, high-margin energy category. In addition, the acquisition includes a modern, efficient warehouse in Brasilia that will enhance Britvic’s supply chain efficiency across its wider portfolio and route to market into Brazil’s Centre-West region. In the year to December 2022, the acquired portfolio generated R$118m of net sales, growing 26% on the previous year. Simon Litherland, Chief Executive Officer, said: “I am delighted by this acquisition, which enables us to enter the higher-margin energy category in Brazil. In line with our strategy to accelerate and expand our presence in the country, we will access a growing category, extend our regional presence and deliver efficiencies in our supply chain. I am confident this acquisition will accelerate our growth trajectory in one of our key markets and generate great value for our business.” This acquisition gives Britvic a meaningful presence in Centre-West region (Distrito Federal & Goias), providing the opportunity to scale its existing brands into a region where the business has historically under-indexed, as well as bring the acquired brand into Britvic’s existing footprint. Britvic first entered the Brazilian market in 2015 with the acquisition of Ebba, followed by the acquisition of Bela Ischia in 2017. Since then, Britvic has developed fruit favourites such as Maguary, Dafruta and Bela Ischia into strong national presences known for innovation. The Maguary brand heritage dates back to 1953 and, similar to the European flavour concentrates brands, is consumed by families at home. This heritage and family awareness enabled Fruit Shoot to be launched in Brazil as Maguary Fruit Shoot – following the same principle Britvic has followed in Europe, where Robinsons and Teisseire are the halo brands. More recently the local team has expanded the brand’s presence further launching a plant-based chocolate drink. New category launches in recent years have included Puro Coco and Natural Tea, both of which are ready-to-drink formats in the coconut and iced tea categories. The expansion of the portfolio continued in 2020. Dafruta Tropical was launched in the flavour concentrates category, utilising the technical know-how of the Robinsons formulation. This new range uses real fruit, has a range of flavours and is pre-sweetened, differentiating it from the traditional concentrates in Brazil which require sugar to be added by the consumer. More recently the portfolio has expanded with the launch of Britvic Mixers and the premium Mathieu Teisseire range of concentrates for cocktails. The growth market for fruit drinks in Brazil is complemented by Britvic’s fruit growing and fruit processing company, Be Ingredient, providing natural ingredients for Britvic and the international market. In the financial year 2022, Britvic generated £143m of revenue in Brazil. The acquisition of Extra Power will be funded from existing internal resources and external debt facilities. The acquisition will require regulatory clearance but is expected to be completed around the start of Britvic’s next financial year in October 2023.

Greencore to sell vegetable oils business

Greencore has entered into an agreement to sell its Trilby oils business to K.T.C. (Edibles) Limited. Trilby is one of Ireland’s leading importers and distributors of vegetable oils and fats for the food processing industry and sells approximately 60,000 tonnes of product each year to customers in Ireland, the United Kingdom and Holland. The group is selling Trilby for cash consideration of approximately €9,800,000, subject to customary adjustments. As of the half year ended 31 March 2023, the value of the Trilby gross assets was €23,366,162 and the profit before tax attributable to Greencore’s interest in Trilby for the full year ended 30 September 2022 was €2,926,689. Dalton Philips, CEO of Greencore, said: “Trilby is a great business with attractive assets and a fantastic team. However, given our strategic focus on the UK convenience food market, it is no longer a core part of Greencore’s plans. As such, we are very pleased to have found such a good home for Trilby’s operations and colleagues.” Paresh Mehta, CEO of K.T.C. Edibles, said: “We are very excited by the acquisition of Trilby, following a strong period of trading under Greencore’s ownership. KTC see great potential in the Trilby team as an on-the-ground platform to support our growth ambitions in Ireland.” The transaction is expected to close in September 2023 subject to the approval of relevant anti-trust authorities and customary closing conditions.

Campbell to expand Goldfish production capacity with $160m investment

Campbell Soup Company is investing approximately $160 million in its Richmond, Utah, manufacturing facility to expand production of Goldfish crackers to help meet increased consumer demand. The new line will increase the bakery’s output of Goldfish by 50 percent and produce over 5 million Goldfish per hour or 1,500 Goldfish every second. The expansion also includes the construction of an onsite flour mill that will be separately owned and operated. “Goldfish is an iconic brand that is quickly approaching a billion-dollar business, and this investment demonstrates our commitment to the growth of our brands and the communities where we operate,” said Chris Foley, Executive Vice President and President, Campbell Snacks. With a bakery in Richmond and operations in Logan, the company currently employs more than 400 people in the Cache Valley region and will add more than 80 jobs with this investment. As part of the project, Utah Flour Milling, LLC will build a flour mill adjacent and connected to the Campbell bakery. The onsite mill is a partnership between PHM Brands’ Panhandle Milling and NIPPN CORPORATION. The mill will increase supply reliability, provide capacity for continued growth, and improve plant efficiency. In addition, the mill will reduce the site’s greenhouse gas emissions by eliminating over 2,200 trucks per year transporting the flour from mill to bakery. The company expects the new Goldfish line to be operational by the end of 2024. This is Campbell’s third Goldfish capacity expansion in the past two years, following bakery expansions in Lakeland, Florida and Willard, Ohio.

Britvic acquires Jimmy’s Iced Coffee

Britvic has expanded its portfolio with the addition of the UK’s fastest growing ‘ready to drink’ iced coffee brand – Jimmy’s Iced Coffee. Simon Litherland, Britvic CEO, says: “We are thrilled to welcome Jimmy’s Iced Coffee to our portfolio of much-loved Britvic brands. The focus on innovation, great taste with fewer calories, and fully recyclable packaging makes Jimmy’s a perfect fit for Britvic. We have a long track-record of acquiring and developing brands, and I am confident in our ability to quickly expand our position in the iced coffee category – which is an exciting and fast-growing market segment.” Jim Cregan, co-founder of Jimmy’s Iced Coffee, says: “We are so delighted with this deal which is the culmination of twelve years of monumental hard work by my sister and I. We have poured our heart and souls into making this business what it is today and we feel so fortunate that Britvic is now able to take Jimmy’s to places about which we could only dream. We are excited to watch the next chapter of the journey unfold and look forward to Jimmy’s Iced Coffee becoming even more well known and enjoyed.” In the year to June 2023, Jimmy’s Iced Coffee generated a retail sales value of £17m, +43% on the previous year. The UK ready-to-drink iced coffee category is both large and fast-growing, with a retail sales value (RSV) of £280m last year, an annual increase of 15.3%. Britvic intends to further accelerate the growth of Jimmy’s through the utilisation of Britvic’s market-leading customer relationships to drive new listings and increase distribution, while increasing cost efficiency through Britvic’s supply chain expertise and procurement capability. Jimmy’s Iced Coffee founders Jim and Suzie will continue to be involved in the business as ambassadors for the brand, helping to support the transition while providing advice on brand direction and future innovation, ensuring that Jimmy’s core values and ethos continue to drive the brand.

Kite Packaging launches hamper-sized ecommerce box

Leading online packaging supplier, Kite Packaging, has added a new, hamper-sized ecommerce box to their range due to growing demand. Designed with a crash lock base and adhesive peel-&-seal strip, this ecommerce-ready packaging facilitates quick assembly to support efficient pack and dispatch. It also comes with a tear strip for effortless unboxing to enhance end customer satisfaction. This new size is larger than the standard market offering, offering versatility, and provides ample space to accommodate both small and bulky items – particularly beneficial for businesses with a large product profile. It also grants the opportunity to bundle multiple products together or to create attractive product displays and memorable unboxing experiences. The box is comprised of double-wall, heavy-duty corrugation to provide suitable protection to all product types during handling and shipping. The cardboard itself comes from sustainably managed resources with the box widely kerbside recyclable once disposed. Ecommerce boxes are available from Kite at market-leading prices with further discounts available when purchasing wholesale quantities. For more information about Kite Packaging, please visit www.kitepackaging.co.uk.

Ferrara Candy Company to acquire Dori Alimentos

Ferrara Candy Company, a Ferrero related company and the largest sugar confections company in the U.S., has agreed to acquire Dori Alimentos, one of Brazil’s leading manufacturers and distributors of sweets and snacks. The acquisition will be made through CTH, which is the lead holding company of Ferrara. Dori is a family-controlled company backed by an affiliate of ACONInvestments. Financial terms of the transaction were not disclosed. Since its founding in 1967, Dori has built strong and recognized brands that are loved by millions of consumers across Brazil including Dori, Pettiz, Jubes, Gomets, Deliket, Disqueti, Yogurte 100, and Bolete. Dori’s strong portfolio, consistent performance and multi-channel nationwide distribution capabilities have allowed it to enjoy double-digit revenue growth over the last several years. Headquartered in Chicago for more than 115 years and privately owned, Ferrara is the top-selling U.S. sugar confections company and the manufacturer of 20 beloved brands such as Black Forest®, Brach’s®, NERDS®, SweeTARTS®, and Trolli®. “We are thrilled to join Ferrara, who we are confident is the right partner for this next step of Dori’s incredible story,” said Pedro Lobo, Chief Executive Officer of Dori. “Like us, Ferrara puts the consumer at the center of all they do, shares our spirit of innovation and believes in the emotional power of candies and snacks. This pairing reflects the outstanding company that the Dori team has built over fifty-six years and our standing as industry pioneers in Brazil. We are thrilled to preserve that valued heritage.” “Dori is a great fit with Ferrara, with a complementary portfolio of candies, similar heritage and a values-driven internal culture,” said Marco Capurso, Chief Executive Officer of Ferrara. “We have deep admiration for Dori’s products and extraordinary team. We are excited to enter the fast-growing Brazilian market and create tremendous opportunity ahead for both Dori and Ferrara.” “For many years, Ferrara has been a great inspiration for building Dori’s product portfolio and, perhaps because of this, they are similar and aligned companies. I am happy to see that Dori will be instrumental to the official expansion of Ferrara into Brazil, which will certainly provide the best path for the success of the business we have built,” said Vitor Barion, Chairman of the Board of Directors of Dori. “We have seen Dori evolve tremendously since our initial investment in 2016 and are excited for Dori to be embarking on a new phase in its history. We believe that Dori and Ferrara will form a strong partnership that will create value for all stakeholders,” said Rodrigo Galvão, partner at ACON Investments in Brazil. Once the transaction is closed, Dori’s over 3,100 employees will join Ferrara’s 4,600 team members to advance a shared vision and strategy and bring additional sweetness to consumers around the world. The transaction is expected to close in the fourth quarter of 2023 and is subject to certain closing conditions.

Brevel completes $18.5m seed funding round for sustainable alternative protein

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Brevel, the microalgae-based alternative protein company, has completed a seed funding round of $18.5m. The funds raised will be used to provide an alternative protein that is neutral-tasting, functional, highly sustainable and affordable to the mainstream food industry.

The round was led by NevaTeam Partners and supported by the European Union’s EIC Fund, as well as other leading food and climate funds and strategic partners from within the food industry.

Brevel’s technology is said to be the first in the world to combine sugar-based fermentation of microalgae with high light concentrations at industrial scales to produce a protein that will be incorporated by food manufacturers into plant-based products.

This technological breakthrough tackles the primary barriers to market penetration for new protein sources: taste, functionality, and cost, creating the most suitable protein for the plant-based industry. As a result, Brevel’s proteins are increasingly in demand by food manufacturers for a wide variety of applications, and will enable the development of healthier, tastier and environmentally friendly non-animal food products.

The company is primarily targeting the dairy alternative sector, which faces a significant challenge in protein content. Other plant-based protein sources such as soy are allergenic and often have overpowering flavors, making them less efficient for use in plant-based milk and cheese products. In contrast, Brevel’s protein can be seamlessly incorporated, significantly boosting nutritional value and enhancing texture without compromising on taste, color, or cost.

Brevel is achieving cost parity with traditional plant-based protein sources such as pea and soy by utilizing its unique technology to generate valuable co-products alongside the high concentration of functional protein from microalgae such as functional lipids, pigments and more. This approach enables Brevel to attain almost triple the profitability from the same microalgae, making it feasible to price the protein competitively in the market.

Brevel’s process is said to cause the smallest environmental footprint possible and is unaffected by weather conditions, climate change and seasonal variations. It does not require arable land, can recycle 100% of the water, use on-site clean energy and feed the world with a fraction of the land used today for traditional agriculture.

Brevel has been operating their large-scale 500 liter pilot in Israel and will very soon move into their first of commercial-scale factory with the first-of-its-kind 5000 liter fermentation and light system. All of Brevel’s manufacturing systems have been designed and built by Brevel, as well as the development of all the biological processes.

“This substantial funding round will fuel Brevel’s journey forward and pave the way for our vision of sustainable nutrition for the future of our planet to materialize,” says Yonatan Golan, CEO and co-founder of Brevel. “We are primed and ready for our next major leap – the global scale production of Brevel’s protein that will be integrated into healthier, tastier and environmentally-friendly food products in every household.”

“Having followed Brevel’s impressive developments and achievements in recent years, we believe that Brevel will be one of the leading companies in the global alternative protein industry and we are excited to join their journey towards that goal,” said Shai Levy, managing partner at NevaTeam Partners, who will also be joining Brevel’s board. “We believe that Brevel’s innovative technology enables the cost-efficient production of high-quality protein extracted from microalgae, which is crucial for the future of sustainable food production.”

“We identified Brevel as an ambitious company with breakthrough technology which can provide significant impact. After the Horizon 2020 non-dilutive grant, the EIC Fund made the decision to further support and join Brevel with an equity investment in their journey towards a sustainable future,” says Svetoslava Georgieva, chair of the EIC Fund Board.

Brevel’s seed funding totals $18.5m, including $8.4m converted from grants and convertible loans into shares.

Climate protection: Krones clearly sets out new plans

Krones has big plans regarding sustainability, as it demonstrated to striking effect at the drinktec 2022. As a supplier to the international food and beverage industry, the company has a responsibility to help solve three of humankind’s greatest challenges: firstly to supply the growing world population with affordable, sustainably produced food and drink; secondly to make sure that packaging materials are used responsibly; and thirdly to limit global warming to 1.5 degrees Celsius. “An inspiring and ambitious vision” Krones’ vision requires far more than simply developing customised solutions – which is what Krones is familiar with and therefore good at. “Our contribution towards achieving the 1.5°C goal laid down in the Paris Agreement will only be fulfilled once we have attained net zero and maintained it on a lasting basis,” to quote from the group’s recently published Carbon Transition Plan. This is no easy matter for a company whose revenue is generated mainly by selling producer goods. Christoph Klenk, the Krones Group’s CEO, is fully aware of that. “What Krones needs is an inspiring and ambitious vision which motivates us to improve and fine-tune our operations and expertise,” he says, adding: “That is precisely why we have adopted our new ‘Solutions beyond tomorrow’ target which is our contribution towards creating a future which is truly liveable, sustainable and successful.” Anyone delving into the details of the Carbon Transition Plan will find that Christoph Klenk’s aspiring statement is nevertheless well considered and based on an informed assessment. That is because the group has meticulously analysed the climate-relevant opportunities and risks involved in its activities and is pursuing a sound and detailed action plan in order to reduce its emissions. Reconciling cost-efficiency and sustainability The measures taken range from changing over to green power and e-mobility, extending the scope of in-house energy generation from renewable sources (by using geothermic power at the Hungarian facility, for example) right through to developing new machines and lines with lower emissions. The longest chapter in the report deals with reducing emissions during the useful lifetime of the group’s products. “Like everybody else on this planet, our customers face the huge challenge of making a sizeable contribution towards holding back climate change. It is our task to provide them with suitable solutions, so that their company’s commercial success aligns with a sustainable future for all of us,” to quote R&D Head Dr. Sven Fischer. The complete report is available in the “Sustainability” section on the Krones website and will in future be updated every year. Its contents are modelled on the provisions of the Corporate Sustainability Reporting Directive (CSRD) and on the requirements laid down by the CDP (Carbon Disclosure Project) and the TCFD (Task Force on Climate-Related Financial Disclosure).

JDM Food Group merges with Henry Broch Foods

UK-based JDM Food Group (JDM) and US-based Henry Broch Foods (HBF) are set to merge, creating a new parent company, Jardins and Broch. JDM, headquartered in Bicker, Lincolnshire, is an innovator in value-added vegetables, sauces, dips and purees to the retail, manufacturing, recipe box and foodservice markets. HBF, with headquarters in Waukegan, Illinois, is a prominent spice, dry-blending and co-packing company, specializing in tailored formulations and seasonings. Jardins and Broch brings together two market leading ingredients companies and will create a team of international flavour experts across both wet and dry products. The newly formed partnership is an industry leading player with significant production capacity, complementary R&D capabilities and worldwide supply chain networks. The two companies will continue to operate independently in their home markets and will now be backed by the expert knowledge and skills from the other party to grow a global presence. Aisling Kemp will remain CEO of JDM and Greg Antonetti will continue to lead as CEO of HBF, with both taking an active role in the integration, growth, and future success of the combined group. Aisling Kemp, CEO of JDM, said: “The combined expertise and knowledge within the two companies creates a flavour powerhouse with global ambitions. Working with the team at HBF who share our strong ethics, values and focus on sustainability is incredibly exciting. “Trends in this market are ever changing and we are now better able to develop solutions with our culinary teams that deliver on flavour, health, and functionality to ensure we evolve alongside consumer demand. “Working with Sunridge the last 2 years has been transformational. Their investment has allowed us to accelerate our product capabilities and channel growth. We believe the partnership with HBF will cement that work and create long term sustainable growth as a true ingredients innovator.” Greg Antonetti, CEO of HBF, said: “This partnership will be a win for our customers, suppliers, team members and other partners. Our aim has always been to build a leading value-added ingredients business and alongside our long serving and dedicated team members, we have worked tirelessly towards this goal. “We are thrilled to bring JDM’s capabilities, especially in wet ingredients to our customers in North America. The JDM team brings unparalleled expertise, strong production and innovation capabilities, and the ability to serve a wide range of customers across the UK and beyond.” Jardins and Broch is backed by London-based Sunridge Partners (Sunridge), a private investment group committed to creating leaders in food, beverage, and agribusiness. Philipp Saumweber, managing partner of Sunridge, said: “Since partnering with JDM in 2021, we have invested considerably in building a word-class ingredients team, expanding our operations, and improving capabilities. “We are very much looking forward to working with like-minded friends at HBF and jointly executing on group investment and growth plans to build a leading international ingredients and flavour formulation company.”

Single Malt Welsh Whisky secures Protected Geographical Indication status

One of Wales’ most popular spirits, the Single Malt Welsh Whisky, is now officially protected after it secured PGI (Protected Geographical Indication) UK GI status. This is the first new UK spirit to achieve GI status since the UKGI was launched and also becomes Wales’ first GI spirit. Single Malt Welsh Whisky is now the 20th member of the Welsh GI family of products, joining the likes of other produce such as Anglesey Sea Salt PDO (Protected Designation of Origin), PGI Welsh Lamb, PGI Welsh Beef and Welsh Leeks PGI. The UK GI scheme was established at the beginning of 2021, following the UK’s withdrawal from the EU, and ensures certain food and drink products can continue to receive legal protection against imitation and misuse. Wales’ whisky industry has expanded rapidly in recent years, since the revival and relaunch of a ‘Single Malt Welsh Whisky’ product by Penderyn distillery on 1 March 2004 and the demand for ‘Single Malt Welsh Whisky’ is increasing year on year. The increase in Welsh Whisky producers has led to a collective of four Welsh distilleries being part of the final application for PGI status – Penderyn, In the Welsh Wind, Da Mhile, and Coles. Welsh Government Minister for Rural Affairs, North Wales and Trefnydd, Lesley Griffiths, said: “It is brilliant news Single Malt Welsh Whisky has joined the Welsh GI family with it’s name now protected. “The Welsh whisky industry continues to go from strength to strength, playing an important role in the food and drink sector here in Wales. “I am very pleased for all those involved in gaining this prestigious status and ensures this fantastic product gains the recognition and prestige it deserves.” Stephen Davies, Chief Executive at Penderyn, said: “The achievement of UKGI status for Single Malt Welsh Whisky is a significant milestone for Penderyn as a producer, and also for the wider Welsh whisky industry.  It assists in safeguarding both the quality of the product and also its source of origin. “It’s an exciting step forward and one that puts focus on an industry that has been growing steadily over the last 20 years.” Single Malt Welsh Whisky makes a significant contribution to the food and drink economy of Wales and is now one of Wales’ most influential exports, currently being exported to over 45 countries. It is forecast to generate a revenue of £23 million in the current financial year including domestic, export and travel retail sales. Single Malt Welsh Whisky combines the long heritage of whisky production with an innovative approach to distilling, offering a broad range of flavours and styles. Welsh whisky production is also important for tourism with all of the current Welsh distilleries open as tourist attractions.