Savola Group to distribute Almarai stake to shareholders
Savola Group is selling its stake in Almarai to its shareholders after launching a SR6bn rights issue, the move is expected to increase the shareholders...
Category : Finance
Hershey announces layoffs as it accelerates automation efforts
The US-based confectionery giant Hershey has unveiled a new restructuring plan aimed at streamlining its operations to drive productivity through automating processes. The company has...
Kellanova Announces Closure of Sites in North America and Europe
Cereal giant Kellanova has announced plans to close two factories, marking an effort to drive efficiency and increase productivity in its operations. The company has...
Canada increases funding for dairy, poultry, and egg production industries
Canada is investing C$89m into its dairy, poultry, and egg industries to support 49 projects across the country. The funds, provided through the Supply Management...
Hain Celestial reduces organic growth forecast due to challenges from SKU streamlining
Hain Celestial has revised its full-year organic growth guidance due to ongoing struggles in the company’s baby-formula segment. The downgrade to 1%, from a range...
Nestlé announces sale of Nordic culinary sauce brands to Solina
Nestlé has agreed to sell two of its cooking sauces and stocks brands, Oscar and Puljonki, to French ingredients supplier, Solina. The deal, expected to...
Mondelez strives for improved energy efficiency at Austrian plant
Mondelez International, a key player in the food and beverage industry, is set to invest €5m ($5.4m) in the energy efficiency of its Milka chocolate...
Borealis Foods Celebrates Nasdaq Debut Following Oxus SPAC Merger
Borealis Foods, a Canadian ramen noodles maker, is set for its US trading debut on the Nasdaq after concluding a SPAC merger with the special...
PepsiCo reports a “slowdown” in the US with declining volumes in the fourth quarter
PepsiCo CEO Ramon Laguarta has emphasized a “slowdown” in its US operations after experiencing volume declines in its convenient foods business. This comes as part...
Unilever’s Ice Cream Sales Fall Short Amidst Private-Label Challenges
Unilever has announced plans to address challenges in its ice-cream business after a lackluster performance in 2023. The segment, comprising 13% of the company’s turnover,...