Page 7 - Food&Drink Magazine October 2021

Nestlé’s regen gen
NEWS
Fermentum sells
NESTLÉ is investing $1.77 billion to transition to a regenerative food system, including a new living income program for farmers in its value chain, over the next five years. Nestlé’s network includes more than 500,000 farmers and 150,000 suppliers.
The investment will drive regenerative agricultural practices across the company’s entire supply chain and include programs to aid social and economic challenges during the transition.
Specific plans for coffee and cocoa supply chains will be announced later this year, the company said.
Nestlé chair Paul Bulcke said: “We know that regenerative agriculture plays a critical role in improving soil health, restoring water cycles and increasing biodiversity for the long term.”
The regenerative food system
concept aims to protect and restore the environment, improve the livelihood of farmers, and enhance the well-being of farming communities. It includes biodiversity enhancement, soil conservation, regeneration of water cycles and integration of livestock.
Bulcke said: “These outcomes form the foundation of sustainable food production and, crucially, also contribute to achieving our ambitious climate targets.”
Agriculture accounts for nearly two-thirds of Nestlé’s total greenhouse gas emissions, with dairy and livestock making up about half of that. The company is working with 30 reference dairy farms in 12 countries to test scalable, climate-friendly, and regenerative agricultural practices that help achieve net zero greenhouse gas emissions. ✷
IN a deal said to be worth more than $500 million, the Fermentum Group – creators of Stone & Wood brewery – have sold to Lion. Subject to approval from the ACCC, Lion’s acquisition will take the entire portfolio of brands including Two Birds, Fixation, Little Dragon and Sunly Seltzer.
There had been rumours for much of this year that Fermentum was considering a listing on the ASX to fund future growth and the construction of a $50 million brewery in Murwillimbah on the New South Wales North Coast. Stone & Wood was founded in 2008 near Byron Bay. Its stable now represents about one per cent of the Australian beer market.
In an open letter on Stone & Wood’s website, founders Jamie Cook, Brad Rogers and Ross Jurisich said they had spent months working out what the next chapter of the business would look like.
“The founding families decided it might be time to see if there was a custodian for the business who could grow the legacy, its people, its culture, its brands, and continue to drive the business whilst staying true to its purpose,” the trio said.
Lion managing director James Brindley said the brands and values of Fermentum Group made the deal attractive.
“The team have created great beer, wonderful brands, spiritual homes in their breweries and tap rooms, an inclusive culture and a commitment to the community.
“We want to grow what they’ve started, giving their people and beers even more reach across the country,” Brindley said.
The environmental and social governance synergies between the companies will see Lion backing the Stone & Wood, Two Birds and Fixation breweries to go carbon neutral. ✷
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www.foodanddrinkbusiness.com.au | October 2021 | Food&Drink business | 7
Stone & Wood founders: Ross Jurisich, Brad Rogers, and Jamie Cook.