Cargill has merged its Australian beef business with Teys Bros., the country’s second-largest beef processor. The companies have combined their businesses into a 50:50 joint venture, which will trade under the name of Teys Australia – A Cargill Joint Venture. The news follows an announcement in July from the Australian Competition and Consumer Commission (ACCC) that it will not oppose the proposed merger. Cargill operates two abattoirs and a feedlot in New South Wales which supply both the... ...Read more »

Ireland’s Kerry Group yesterday revealed it is in exclusive talks to buy Cargill’s flavours business. The Ireland-based company, which owns consumer brands like Wall’s sausages but derives over two-thirds of its revenue from food ingredients, said a deal would “advance” its ability to serve food and drink manufacturers. “Kerry is a leading global food ingredients and flavours provider and a leader in development and delivery of consumer-preferred taste solutions.... ...Read more »

Cargill has pledged that the palm oil products it supplies in markets including Europe and the US will be certified by the Roundtable on Sustainable Palm Oil (RSPO) or originate from smallholder growers by 2015.The US agribusiness said the commitment also covered customers in Canada, Australia and New Zealand. It added that the pledge would be extended across all of Cargill’s oil and trading businesses to cover 100% of its palm oil products and all customers worldwide, including China and India,... ...Read more »

The Australian Competition and Consumer Commission has announced that it will not oppose the proposed merger of the meat processing operations of Teys Bros (Holdings) Pty Ltd and Cargill Beef Australia. “The ACCC formed the view that the proposed merger would be unlikely to substantially lessen competition in any of the markets examined,” ACCC chairman Graeme Samuel said. Cargill operates two abattoirs and a feedlot in New South Wales which supply both the domestic and export beef markets,... ...Read more »

US food group Cargill has announced a shake-up of its senior management, naming current CFO David MacLennan into the new role of president and chief operating officer.The company’s chairman and CEO, Greg Page, said yesterday that the moves would better position the company for growth, “particularly in the world’s fastest growing economies”. Additionally, Sergio Rial has been promoted from senior vice president and regional director for Latin America to executive vice president... ...Read more »

Cargill has merged its Australian beef business with Teys Bros., the country’s second-largest beef processor.The companies have combined their businesses into a 50:50 joint venture, which will trade under the name of Teys Australia – A Cargill Joint Venture. The venture will include assets of both companies’ beef processing and cattle feeding businesses, as well as Teys’ tannery and “value-adding” facilities, the firms said. The new company will have the capacity... ...Read more »

The Australian Competition and Consumer Commission announced today that it does not intend to oppose Cargill Incorporated’s proposed acquisition from Agrium of the commodity management businesses of AWB Limited. “The ACCC concluded that the proposed acquisition would be unlikely to substantially lessen competition as post-merger Cargill would continue to face competition from a number of significant sources,” ACCC chairman Graeme Samuel said. The ACCC conducted a full review of... ...Read more »

Edible oils giant Cargill has announced a new product innovation: cocoa powder with a greatly improved ability to mix into cold drinks. The new cocoa powder, launching next year as part of the Gerkens cocoa powders range, has double the wettability – the speed with which cocoa disappears below the surface of th cold liquid – and will disperse through the liquid evenly. The company said that, crucial to the discovery, the performance would be maintained throughout the product’s shelf... ...Read more »

The ACCC revealed on Tuesday that it has begun monitoring press speculation regarding a possible merger between Cargill and Teys Bros. James Packer’s 51% stake in Australia’s second-largest beef processing company may be on the table for $500 million, according to the Australian Financial Review. Teys Bros is the largest Australian-owned beef processor in the country, second only to Brazilian meat giant JBS Swift. Teys Bros was affected by the Queensland flooding, with processing plants... ...Read more »

Cargill’s profits more than tripled in the second quarter of its fiscal year, the US agribusiness giant said yesterday as the company benefited from rising commodity prices. The company booked net earnings of US$1.49bn for the three months to 30 November, up from $489m a year ago. As well as the benefit from higher commodity prices, Cargill was also lapping last year’s second quarter, when profits from The Mosaic Co. were hit by lower crop fertilizer prices. Neverthless, excluding its... ...Read more »