Murray Goulburn Co-operative Co. Ltd. expects a decision from the Australian Competition Tribunal on its bid for Warrnambool Cheese and Butter Factory Holdings Co. by the end of February. Murray Goulburn raised its offer to A$530 million as it faces strong competition with Canada's Saputo Inc.
Hospitality/Food
American rapper Diddy Combs acquires luxury tequila brand DeLeon
American rapper and producer Sean "Diddy" Combs struck a partnership with UK-based consumer goods firm Diageo Spirits to acquire the luxury tequila brand DeLeon in their second 50-50 joint venture.
Canadian dairy firm Saputo lifts Warrnambool stake to 20pct
Montreal, Canada-based dairy firm Saputo Inc has increased its stake in Australia-based dairy supplier Warrnambool Cheese and Butter Factory Ltd to 20.1%, according to an ASX statement.
Chuck E. Cheese's parent CEC Entertainment eyes sale to private equity firm
CEC Entertainment, which operates 567 Chuck E. Cheese's stores in 47 states in the US, is reportedly mulling over a possible sale to private equity firm. CEC has a market capitalization of around $760 million.
Japan's Kirin has no plans to exit Warrnambool stake
Japan-based food and beverage giant Kirin Holdings Ltd has no plans to sell its 9.99% holding in Warrnambool Cheese and Butter Factory Ltd to Canadian firm Saputo Inc as it wants to secure a cheese supply agreement with the latter.
Latest News
World food giant Nestle has sold its US frozen pasta business Joseph's Pasta Co. to private equity firm Brynwood Partners VII. Nestle acquired the Haverhill, Massachusetts pasta marker in 2006.
United Dairy Power, the biggest privately owned milk supplier in Australia, is looking to dispose a stake in the firm to an Australian diary investor for an undisclosed sum.
The first Johnny Rockets restaurants in Pakistan was opened today in Dolmen Mall in Karachi by franchise partner Hamdan International as part of its plan to have ten Johnny Rockets chain in the country by 2022.
The US 6th Circuit Court of Appeals on Friday ruled against food and beverage company Dean Foods Co. in an antitrust case. The said lawsuit alleged that Dean Foods conspired to restrict competition for bottled milk in southeastern states in the US after its 2001 merger with Suiza Foods Corp.
Carme Trust announced the completed sale of its 1.87 million shares in Canada-based lentil and pea splitting group Alliance Grain Traders Inc (AGT) in a deal valued at $28 million.
Finland-based food group HKScan has inked an agreement to divest its 49% stake in Switzerland-based meat company Nyhlens & Hugosons Chark for €2.2 million ($3 million) in cash.
Shares in French liquor company Remy Cointreau declined by more than 2% to €59.19 per share on Friday, following the resignation of its chief executive officer Frederic Pflanz. Pflanz quit his post three months after being promoted from his role as chief operating officer.
In a bid to generate sales outside the country, Switzerland-based dairy company Emmi has signed an agreement to buy half of Mexico-based cheese and fresh product exporter Mexideli for an undisclosed sum.
Arabian Business said in its report that businesses of the state of Saudi Arabia, including Prince Sultan Aviation Academy and Saudia Private Airline, will be privatized soon.
