The food industry briefing
The latest news, trends, and data you need to know about this month
In numbers
14.5%
UK food and drink inflation hits 40-year high in “grim milestone” for sector
The jump in food and soft-drink prices in the UK in September, driving overall inflation to more than 10%.
$300m
Plenty Unlimited to invest $300m in US vertical-farm “campus”
Plenty Unlimited is investing US$300m over six years in a new vertical farm “campus” in the US state of Virginia.
800
PepsiCo sells biscuit assets to Brazilian manufacturer Camil Alimentos
PepsiCo has agreed to sell a clutch of biscuits assets in Brazil to local manufacturer Camil Alimentos, including 800 staff.
AUD1.7bn
Australia’s Tassal bites on fresh takeover offer from seafood peer Cooke
Tassal Group, the Australian seafood company, has approved a new takeover bid from Canada-based Cooke.
70%
Bel buys majority of China’s Shandong Junjun Cheese Co.
Bel, the French dairy major, has snapped up 70% of Chinese cheese maker Shandong Junjun Cheese Co.
EUR40m
Nestlé injects cash into Enterome in food allergy, IBD collaboration
Nestlé is providing EUR40m (US$40.7m) to Paris-based Enterome for an R&D project targeting food allergies and inflammatory bowel disease (IBD).
In brief
The Very Good Food Company up for sale after months of financial uncertainty
The Very Good Food Company has effectively put the Canadian plant-based meat business up for sale after months of uncertainty surrounding its finances.
Nestlé outlines Europe gas contingency plan
Nestlé has revealed it has plans to deal with the ongoing gas crisis in Europe as rising prices contribute to double-digit cost inflation.
Marfrig CEO takes helm at fellow Brazilian meat group BRF
Marfrig Global Foods CEO Miguel Gularte was named chief executive of Brazilian meat processing peer BRF.
US pet-food firm Freshpet comes on radar of activist investor Jana Partners
Freshpet has come under the scrutiny of activist investor Jana Partners, which has taken a 10% stake in the US business with a view to a potential sale.
Further reading
Spectre raised of plant-based meat fragility as Very Good Food goes on the market
The plant-based meat market may well be at a crucial juncture judging by the up-for-sale signs at Canada’s The Very Good Food Co.
Read more here on Investment Monitor
