Nestlé today announced that it had signed a partnership agreement taking a 60% stake in the Chinese food company Yinlu Foods Group (Yinlu), subject to regulatory approval in China. Other details of the transaction, including the acquisition price, are undisclosed. Family-owned Yinlu is a well established household brand in China and a significant marketer for ready-to-drink peanut milk and ready-to-eat canned rice porridge. Nestlé said the agreement builds on an already successful partnership between... ...Read more »

US food giant Kraft Foods is reportedly planning to double the number of Chinese cities in which Cadbury products are sold in just two years. Lorna Davis, president and chairman of Kraft’s business in China, told Reuters yesterday (13 September) that the company would use its current distribution network in the country to build Cadbury’s presence. The company plans, according to the report, to sell Cadbury products in around 40 Chinese cities within the next two years. “China has... ...Read more »

French food giant Danone is to enter the Australian market through a dairy products venture with local milk co-op Murray Goulburn. Products from the venture are scheduled for launch next year but Murray Goulburn MD Stephen O’Rourke said on Friday (14 May) the companies could “enter the Australian yoghurt market with confidence”. The venture will use Murray Goulburn’s site at Kiewa in north-east Victoria and is expected to boost jobs at the facility. Danone has sent a warning... ...Read more »

French retail giant Carrefour has revealed that it is preparing to open its first cash and carry outlet in the Indian market. “The Carrefour Group will open its first cash and carry store in the next few months,” a spokesperson for the company told just-food today (12 May). Indian rules governing foreign direct investment in the retail sector prohibit international retailers from operating multi-brand outlets that sell directly to the public. However, overseas retailers are allowed to... ...Read more »

US natural and organic retailer Whole Foods Market has reportedly confirmed its ambition to expand further into the UK market. Whole Foods co-president Walter Robb told the Financial Times that the company was eyeing locations that are smaller than the 75,000 sq ft store in London’s Kensington district. The retailer opened the Kensington store in 2007 to much fanfare but, amid the global economic downturn and losses from its UK venture, the company put the brakes on any further expansion in... ...Read more »

Club store operator Costco has unveiled plans to increase the pace of its store openings in the Australian market over the next three years. The company, which opened its first Australian store in Melbourne last summer, said that it will likely open between five and six new warehouse style outlets during the coming three years. Addressing analysts following the company’s recent results announcement, Costco chief financial officer Richard Galanti said that the group was focused on driving growth... ...Read more »

Tangerine Confectionery, the UK sweets firm, wants to double export sales as it expands its business in Australia. The company has revealed its target for overseas sales after announcing it will sell Sherbet Fountains and Taveners Proper Sweets to Australian retailers including Coles. Australia is Tangerine’s largest export market and a spokesman told just-food that the company wants to build its business Down Under and in South Africa, Hong Kong and Canada. “We currently export about... ...Read more »

ASX-listed pizza maker Domino’s Pizza Enterprises has entered into a Memorandum of Understanding to purchase Pizza Company, a pizza chain which operates 15 stores in Belgium, doubling the size of its network in the European country. Domino’s Pizza CEO Don Meij said the purchase would make Domino’s the number one pizza delivery company in Belgium in terms of store count and would increase the Company’s store count in the country to 31 stores, with one store to be closed due... ...Read more »

Fonterra last week announced that it has reached a final agreement to purchase the remaining 51% stake in Saudi New Zealand Milk products, a joint-venture dairy manufacturing facility with SADAFCO in Saudi Arabia. The acquisition, worth around NZD45 million, is subject to regulatory approvals in Saudi Arabia. Saudi New Zealand Milk Products (SNZMP) currently packs and processes over 30,000 metric tonnes of New Zealand milk a year for Fonterra and a small number of co-packing customers. The deal will... ...Read more »

ASX-listed franchisor Allied Brands has entered into a ten year Licence Agreement to launch the Cookie Man brand in Cyprus with a local operator. The license agreement will help underpin their forecast for FY10 of NPBT (net profit before tax) of $6.6 – $7.2m as outlined at the AGM on November 30, the company said. It will see Allied Brand’s receive an up-front License Fee and on-going supply of products (cookies, coffee and giftware) and ovens for the Cyprus market. Allied Brands CEO... ...Read more »