Bimbo Ventures, the venture capital arm of Grupo Bimbo, made a minority investment in Olyra Foods, a producer of organic and nutritional breakfast biscuits made with stone-milled ancient Greek grains. The funding will help Olyra Foods further expand its presence in retail and online marketplaces. Olyra biscuits are available online as well as in over 5,000 retail locations in the US.
Dr. Oetker reports EUR 4 billion in sales for the 2022 financial year, an adjusted sales growth of 5.7%. In that time, investments amounted to around EUR 125 million. Around 65% of the total sales are outside of Germany.
For the quarter ending March 31, 2023, Corbion reports net sales of EUR 359.6 million, a 12.3% increase (of which 8.9% organic growth). Corbion’s operating profit in Q1 was EUR 26.9 million – a decline of 10.9%.
Nestlé and private equity firm PAI Partners will set up a joint venture for Nestlé’s frozen pizza business in Europe. Nestlé will retain a non-controlling stake with equal voting rights alongside PAI Partners, the company announced today.
Corbion published an updated Climate Action Roadmap, aiming to spark greater collaboration and knowledge sharing among manufacturers worldwide. The roadmap provides a detailed breakdown of actions taken so far, and defines the steps ahead.
Nestlé is closing a frozen-pizza Buitoni factory in Caudry, France, roughly a year after it first stopped operations. In March 2022, an E. coli outbreak triggered the recall of Fraich’Up frozen raw dough. Baked pizza production had temporarily resumed in December, only to be again suspended in March, due to a steep drop in sales.
Vandemoortele, the producer of deep-frozen baked goods as well as oils, fats and margarines, announced it would increase its presence on the Swiss market.
Dawn Foods took mentorship a step beyond and established a sponsorship project for the women in its ranks, called the Women’s Leadership Development Program. The HR initiative pairs employees up with one another to help advance women’s career paths at Dawn.
