The review of the issuance and listing of Jule Food was suspended again, and Synlaite obtained a debt extension

The review of the issuance and listing of Jule Food was suspended again

Recently, the listing review process of Jule Foods was "suspended" on the grounds that the financial information recorded in the IPO (initial public offering) documents had expired and needed to be supplemented. According to the data, the history of Jule Food can be traced back to Chengdu Jule Health Food Development Company, which was established in 1984, and entered the dairy industry in 1996 with the milk-containing beverage "Sour Milk". Since March 2023, Jule Food has suspended the issuance and listing review three times. (Beijing News)

A U.S. court dismissed the lawsuit against Abbott Infant Formula

A U.S. federal appeals court dismissed a class action lawsuit filed by parents. These parents called Abbott Infant Formula overpaid. If they knew about the safety risks that led to the plant closure and subsequent recall, they would not have paid for Similac and other Abbott-branded products. But U.S. Circuit Judge Michael Brennan said what parents are claiming is a "hypothetical or unnatural" injury, and that they are not claiming contamination widespread enough to affect the infant formula they actually purchased. (Reuters)

Nestlé continues to increase its production capacity in the U.S. market

Nestlé Purina's newest pet food plant in Eden, North Carolina, USA, has begun operations. The plant, which cost more than $450 million, is the first Nestlé plant to be built in the state. The new facility also houses a manufacturing experience center. From 2020 to 2025, Nestlé plans to invest $2 billion in the plant and other capital additions to strengthen its production footprint. The 24th Nestlé plant is currently under construction in Williamsburg, Ohio. （powderbulksolids）

Blackstone is accused of considering selling coffee producer Trilliant

Recently, Reuters quoted "sources" as saying that Blackstone is considering selling American coffee manufacturer Trilliant Food & Nutrition. The U.S. company, which owns the Victor Allen's and Aspen Ridge coffee brands, including debt, could be valued at around $600 million. Trilliant was founded in 1979 to produce private label and branded beverages, including coffee grounds, coffee pods, teas and juice blends. (Reuters)

Domino's had 835 stores in China in the first quarter

Dashi released its first quarter 2024 fact sheet. As of March 31, 2024, Domino's operated 835 stores in 30 cities, with approximately 16.8 million members, and has achieved 27 consecutive quarters of same-store sales growth since the third quarter of 2017, according to the report. (Company Announcement)

Synlaite receives debt relief

Recently, due to falling into the red and significantly reducing the profit guidance, Synlaite has agreed with creditors to extend the maturity of the debt. Synlait has been granted permission to extend its debt repayment deadline from 28 March to 15 July at the latest, following the disclosure of outstanding NZ$130 million debt and the suspension of share trading. Synlait has also secured a short-term funding of NZ$30 million due on June 27 and plans for an equity capital raise. Bright Dairy, the largest shareholder holding 39% of its shares, has pledged to participate and "provide loans at the request of Synlait". （justfood）

Arowana intends to change the name of the company

Arowana announced today that in order to more comprehensively reflect the company's business development status and make the company's name more in line with the actual situation of the current group development, it intends to change the company's name from "Yihai Kerry Arowana Food Co., Ltd." to "Yihai Kerry Arowana Food Group Co., Ltd.", and the company's securities abbreviation and securities code remain unchanged. (Company Announcement)

Nestlé plans to invest US$132 million in Africa to boost local business growth

Nestlé announced plans to invest US$132 million over the next five years to boost the growth of local startups in East Africa and Southern Africa. Nestlé said the investment would help the region achieve more sustainable sourcing and agro-processing. (Bloomberg)

JDE Peet's completes new acquisition to increase exposure to the U.S. coffee market

JDE Peet's has announced the completion of a transaction with Caribou, obtaining a global long-term license to produce, market and sell Caribou coffee consumer products, excluding Cafe Caribou. The transaction provides JDE Peet's with a platform to expand its portfolio of premium coffee products in the United States, the world's largest coffee market. (Company Release)

British frozen food company seeks to acquire in the US market

Recently, Nomad Foods, a British frozen food company, said that it is looking to expand its market and product portfolio, and may cross the Atlantic to find targets and investors. Nomad Foods is said to have made about five acquisitions since its U.S. listing in 2016, all of which were European frozen foods, including several ice cream brands in Serbia and Croatia. Stéfan Descheemaeker, CEO of Nomad Foods, said that in Europe, there are still many deals to consider in the frozen food, retail space, and especially in the brand space. (Bloomberg)

Mixue Bingcheng established an investment company in Hainan

Recently, Snow King Investment (Hainan) Co., Ltd. was established, the legal representative is Zhang Yangke, with a registered capital of 80 million yuan, and its business scope includes enterprise management consulting, investment activities with its own funds, venture capital, business training, asset evaluation, etc. The company is wholly owned by Mixue Bingcheng Co., Ltd. (Interface)

World's largest cocoa producer raises cocoa farmgate prices by 50%

Recently, Côte d'Ivoire, the world's largest cocoa producer, raised the farmgate price of cocoa beans by 50 percent, from 1,000 CFA francs ($1.64) per kilogram to 1,500 CFA francs. Cocoa futures have hit record highs in recent weeks as crop diseases and bad weather weigh on global supplies. （justfood）

7-Eleven International completes acquisition of Australian franchise

Recently, convenience retail chain 7-Eleven International has completed the acquisition of an Australian franchise for $1.71 billion. The move brings 7-Eleven International to 750 new stores in Australia and provides an opportunity for 7-Eleven convenience stores in Australia to transform, including optimising commodity and fuel supply, expanding product offerings and launching fresh food. （retail insight network）

Sodexo announced the completion of the acquisition of the Kompass Group's business in Chinese mainland

Sodexo announced that it has completed the acquisition of the Kompass Group's business in Chinese mainland. The integration is now officially underway. Sodexo China will maintain close communication with its customers, suppliers and employees in Chinese mainland to ensure a smooth transition. Sodexo said that in the face of the huge growth potential of the Chinese market, the acquisition aims to expand Sodexo's influence in the field of food and beverage services, and further expand its business coverage and service scope in the fields of industrial and commercial enterprises, medical care and elderly care and education. With the successful completion of this transaction, Sodexo's more than 17,000 employees in 950 locations in Chinese mainland will "provide quality of life services" to more than 1.2 million consumers across the country. Isabelle HANNEDOUCHE, Managing Director of Sodexo Greater China, said that she is pleased to strengthen its strategic position in the Chinese market. The Chinese market has become a key business market for Sodexo Group. The acquisition will further expand the company's business scale and create synergies to provide a broader, diversified and high-quality service to customers and consumers in China. (Company Release)

Feihe launched an "electronic fence" to drive the repair of price orders this year

A few days ago, analysts from Essence International issued a research report pointing out that the infant formula milk powder industry is facing greater pressure in the context of the decline in the birth population, especially in the second half of the new national standard, the transition of new and old national standard products in the industry, resulting in a large industry inventory, and the price decline is more serious. In this context, Feihe strictly controls channel inventory, implements digital store sales, and launches electronic fences in February 2024 to drive the gradual restoration of product price plates. (Essence International)

Yantang Dairy said it would take the opportunity to enter the Hong Kong market in the near future

The representative of Yantang Dairy said at the online performance meeting that the company has completed the field research of the Hong Kong market and the visit of interested customers in 2023, and has passed the filing of the Hong Kong Food and Environmental Hygiene Department. In the near future, the company will take the opportunity to enter the Hong Kong market. (Company Announcement)

Zumbo Pizza announced a new policy to lower the threshold for joining

The official WeChat account of Zumbo Pizza announced the latest franchise policy that will be launched in April. It is said that the franchise plan is to collect a deposit of 5,000 yuan, a full return of 38,000 yuan for the franchise fee, a 6.8% discount on the brand use fee, etc., and at the same time carry out block protection, aiming to reduce investment risks and ensure that franchisees make profits. Up to now, Zumbo has more than 3,000 stores in 255 cities across the country. (Company Release)

The CEO of Lantriis said that its brand is growing globally

A few days ago, Emmanuel Besnier, CEO of French dairy giant Lactalis, pointed out in an exclusive interview with French media that the company's brand continues to grow globally, especially the two major brands of Galbani and President, the latter of which exceeded 1 billion euros in France in 2023 and is also close to 3 billion euros globally. He said that in the past two years, all production costs in Lanteris have experienced abnormal inflation, with raw materials, which account for 75-80% of production costs, rising by 30% in two years, forcing the company to raise prices. （lsa）

PepsiCo will sell milk in small packets with snacks in the UK

PepsiCo announced the recent launch of the extra spicy flavor "Extra Flamin Hot" snacks in the UK, and some snack lovers said that the taste was too spicy, so the company will sell milk in small packets with snacks until British consumers adapt to the new taste. According to PepsiCo, according to the survey, consumers in the Glasgow area of the United Kingdom like spicy food the most, while consumers in Belfast, Northern Ireland dislike spicy food the most. As a result, milk in small packets will be available first in the Belfast region. (Interface)

Chengdu's first Moutai ice cream flagship store closed its doors

Recently, the reporter learned that the first flagship store of Moutai Ice Cream in Chengdu has been surrounded and closed, which is also the 16th flagship store of Moutai Ice Cream in the country. It is reported that in November 2022, Chengdu's first Moutai ice cream flagship store opened in the MixC in Chenghua District, which is one of Chengdu's fashionable landmarks. In this regard, a person familiar with the matter told a reporter from Beijing Business Daily that the store is being relocated due to the expiration of the store contract, and the current business site has been changed to Kuanzhai Alley Experience Store. (The Paper, Beijing Business Daily)