Orkla partnered with Rhône, a global private equity firm with a focus on investments in businesses with a transatlantic presence. Investment funds affiliated with Rhône will acquire 40% ownership in Orkla Food Ingredients AS (OFI), for NOK 15.5 billion (EUR 1.3 billion). The transaction is expected to be completed by the end of the first quarter of 2024, subject to customary conditions to closing, including approvals from relevant authorities.
Peter Schmidt, a member of Conditorei Coppenrath & Wiese’s management board responsible for Marketing & Sales, Finance & Administration and Product Development (R&D) since December 1, 2015, will retire on March 1, 2024.
Yum! Brands reported results for the third quarter that ended on September 30, 2023, driven by sales at KFC International. The KFC Division opened 664 gross new restaurants across 57 countries in the reporting period.
The Association of German Bakeries welcomes the federal government’s agreement on an electricity price package. Despite this agreement, electricity prices are still too high, mainly caused by insufficient supply, the members of the associations believe. Additional measures to mitigate with this problem are necessary, Juncker underlines.
Jörg Riboni and Gordon Hardie resigned from ARYZTA AG board. The board has accepted their resignations with immediate effect, the company announced on November 8. The Board of Directors expressed their thanks to both outgoing board members for their services to ARYZTA AG.
IPCO extends its footprint in China with the acquisition of Nantong Langwei New Materials, ‘Long Goal’. Following the acquisition deal signed on October 13, 2023, IPCO increased its local steel belt production capabilities for the Chinese market. The move means IPCO benefits from lower cost levels and shorter lead times while also reducing CO2 emissions and risks caused by transportation to and from Sweden.
At the UIBC Congress held in Munich, the association’s new president was elected: Dominique Anract replaces Günther Koerfferas.
The European Bank for Reconstruction and Development (EBRD) is lending EUR 90 million to help the Romanian subsidiary of Lantmännen build a new bakery. Lantmännen Unibake Romania will build the facility in Bucharest and will use it as a central production hub, supplying countries in Central and Southeast Europe, according to EBRD.
