In a bid to expand its operations in China, The Hershey Company recently bought out Shanghai Golden Monkey Food Co, maker of over 200 varieties of candy, in a deal valued at $498 million.
Hospitality/Food
Activist investor Starboard purchases 5.6% stake, to push for strategy change in Darden Restaurants
Activist investor Starboard Value has acquired a 5.6% stake in Darden Restaurants for $374 million. Starboard will become the second activist investor within months to push for a strategy change in the struggling restaurant operator.
US food startups have made gourmet and speciality food available to consumers everywhere
US food startups like Goldbely and Mouth have made gourmet and speciality food available to consumers across the country this Christmas, the Financial Times reported.
A US Bankruptcy Court approves honey supplier Groeb Farms Inc to proceed with its restructuring plan
A US Bankruptcy Court allowed honey supplier Groeb Farms Inc to proceed with its restructuring plan, allowing the Michigan company to come out of Chapter 11 protection.
Philippine-based Max's Group takes over Pancake House
The Max's Group of Companies has bought Philippine-based casual dining chain operator Pancake House Inc prior to the former's local stock market debut, in a deal valued at almost PHP3.9 billion.
Latest News
Restaurant operator Darden Restaurants on Thursday announced that it intends to spin off or sell its Red Lobster chain, succumbing to pressure by activist investor Barington Capital Group. Barington owns over 2% stake in Darden.
Abraaj Capital Ltd said it intends to make one more investment in Turkey after it had acquired an 80% stake in a dairy maker this month, Bloomberg reported.
Madrid, Spain-based global travel distribution system Amadeus bought hotel IT solutions provider Newmarket International Inc for $500 million in a bid to conquer the hospitality space.
According to Nordea Bank, Norway-based Atlantic salmon farmer Marine Harvest will be leading the consolidation of the seafood industry as fish prices improve, Bloomberg reported.
New South Wales, Australia-based dairy firm Bega Cheese Ltd will consider stake options after dropping out of the three-way takeover contest for Warrnambool Cheese & Butter Factory Co.
A $3 billion share buyback program was authorized by Northfield, Illinois-based Kraft Foods Group Inc, the first after the firm turned independent in October 2012.
Activist investor Barington Capital Group said that Darden Restaurants Inc., the operator of Olive Garden and Red Lobster restaurant chains, could be worth $71 to $81 per share. Barington recommends that Darden split into two companies.
Istithmar World, a subsidiary of state-owned conglomerate Dubai World, has sold its 50% stake in Fontainebleau Miami Beach to Florida-based developer Turnberry Ltd. for an undisclosed sum.
Tokyo, Japan-based firms ITOCHU Corp and ITOCHU Textile Prominent Ltd have finalized a deal with Fenix Group Holdings Ltd to invest in ASF Limited, an intermediate holding firm under the sponsorship of Fenix.
