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Saudi Arabia’s Salic to acquire control of Olam’s agri arm
The state-owned Saudi Agricultural and Livestock Investment Company is to up its stake in Olam Agri Holdings, the agri-food unit of Singapore’s Olam Group, to more than 80%. The group, owned as the food and agriculture investment arm of PIF, Saudi Arabia's sovereign-wealth fund, has agreed to acquire another 44.6% stake in pasta, rice and animal-feed supplier Olam Agri for $1.78bn, the companies said.
Nestlé takes full ownership of Chinese confectioner Hsu Fu Chi
Nestlé has bought the remaining 40% stake in Chinese confectioner Hsu Fu Chi from the founding Hsu family for an undisclosed sum. The Swiss giant bought a 60% stake in Hsu Fu Chi in 2011 for $1.7bn. Nestlé said it would be able to take advantage of Hsu Fu Chi’s distribution to grow its snacking and confectionery business in China.
Colgate-Palmolive enters fresh pet food with Prime100 acquisition
Colgate-Palmolive is to buy Australia’s Care TopCo, which owns the Prime100 fresh pet-food brand. Colgate CEO Noel Wallace described Prime100 as “a high-growth, profitable, fresh dog-food asset”. Prime100 sells refrigerated and shelf-stable products through specialist pet stores and other retailers across Australia. During 2025, meanwhile, Colgate-Palmolive plans to leave the market for private-label pet nutrition.
OSI expands UK presence through Karnova Food Group deal
US meat major OSI has acquired UK peer Karnova from PE firm Endless. Karnova was formed through Endless’ acquisitions and subsequent merger of Yorkshire Premier Meat (YPM) and Smithfield Murray. YPM supplies producers of ready meals and canned goods. Smithfield Murray markets poultry to retail and foodservice.
