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South Africa's Tiger Brands to launch venture capital fund

By Reuters Staff
1 Min Read
JOHANNESBURG, May 20 (Reuters) - South Africa’s biggest food producer Tiger Brands will launch a venture capital fund to invest in food and beverage start ups, with initial allocation of less than 100 million rand ($7.09 million), CEO Noel Doyle said on Thursday.
Geographically, the fund, which will be launched in June, will predominately focus on South Africa, “but not exclusively so,” Doyle told analysts after presenting the company’s half-year results. ($1 = 14.0970 rand) (Reporting by Nqobile Dludla; editing by Mfuneko Toyana) ....

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Fonterra to sell China JV farms, Beingmate stake as profit jumps 43%

By Reuters Staff
2 Min Read
(Reuters) - New Zealand’s Fonterra said on Wednesday it will sell its joint venture farms in China and its remaining stake in infant formula maker Beingmate as it looks to move its focus from Beijing and prioritise domestic operations.
FILE PHOTO: The Fonterra logo is seen near the Fonterra Te Rapa plant near Hamilton August 6, 2013. REUTERS/Nigel Marple
Fonterra also posted half-year results, with a 43% surge in adjusted profit due to robust demand from China and firmer global dairy prices.
The world’s biggest dairy exporter has been shifting its focus back home since 2019, when it halted an ambitious overseas expansion plan that drew sharp criticism from the 10,000 plus farmers who make up its cooperative. ....

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Danone board ousts Faber as chairman after activist pressure

3 Min Read
PARIS (Reuters) - Danone said on Monday that Emmanuel Faber would step down as chairman and CEO, ejected by the group’s board after the Activia yoghurt maker faced growing calls from some shareholders to replace him.
FILE PHOTO: Emmanuel Faber, chief executive officer of French food group Danone, poses before a news conference to present the company s 2017 annual results in Paris, France, February 16, 2018. REUTERS/Pascal Rossignol/File Photo
Faber, an advocate for environmental matters and a more sustainable way of doing business, had come under pressure as sales and margin growth underperformed some rivals in recent years. ....

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Danone board ousts Faber as chairman and CEO after activist pressure

Danone said on Monday that Emmanuel Faber would step down as chairman and CEO, ejected by the group's board after the Activia yoghurt maker faced growing calls from some shareholders to replace him. ....

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U.S. FDA looks to reduce toxic elements in baby food, boost inspections

The U.S. Food and Drug Administration said on Friday it will boost sampling of foods for babies and young children and increase inspections after a congressional report found "dangerous levels of toxic heavy metals" in some baby foods that it said could cause neurological. ....

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