Page 64 - Food&Drink Magazine November-December 2021

YEAR IN REVIEW
Bega had purchased the Kraft factory in 2017 – where the category-leading product was made – from Mondelez International as part of its $460 million acquisition of most
of Mondelez’ ANZ grocery business, including Vegemite, cheese, and mayonnaise.
ENDEAVOUR GROUP LISTS ON THE ASX Retail drinks and hotels business Endeavour Group commenced trading on the ASX (Code: EDV), after Woolworths shareholders voted in favour of the demerger on 18 June.
Endeavour Group chair Peter Hearl said it marked the next chapter for the company. “On behalf of the entire Board, it is a privilege to be a part
of such a milestone,
and we welcome and thank our new shareholders for joining us on this journey,” he said.
Shares are expected to be transferred to eligible shareholders on 1 July, at which time commencement of trading on a normal settlement will occur.
✷ JULY
A2 MILK RESTRUCTURES APAC BUSINESS
The a2 Milk Company announced the restructure of its Asia Pacific business into three business units and appointed two new general managers following the resignation of its CEO Asia
Pacific Peter Nathan in May. CEO David Bortolussi said the three divisions – China domestic
business, International export business, and ANZ domestic
business would “provide more dedicated
leadership and focus on key components of our business and improve execution going forward”.
MASTERFOODS’ HERBS AND
SPICES MASTERSTROKE
MasterFoods released new packaging for its iconic herbs and
spices range designed to be easier to identify and use. The
screw-top lids are gone, replaced with
flip-top lids to
make it easier for those with impaired hand
movement – or those frantically stirring, chopping, slicing, and dicing – to open.
But the true revelation is the adoption of colour-coded lids and labelling. Green for herbs, orange for spices and the original burgundy for seasoned blends WITH (editor’s emphasis) labels on the lid.
PETER FILIPOVIC STEPS DOWN AS CUB CEO
A year after Carlton & United Breweries was acquired by Asahi Beverages, the CEO of one of Australia’s most iconic breweries Peter Filipovic announced he was stepping down. Filipovic was with the business for 25 years. His replacement was announced in October – Danny Celoni, the current CEO of PepsiCo Australia.
Asahi Holdings Australia chair Roland van Bommel announced Natalie Toohey will join the board. Toohey is a corporate affairs specialist with senior leadership and advisory experience across a range of sectors including FMCG, particularly alcohol and beverages.
AUSSIE START-UP DELIVERS DAIRY WITHOUT THE COW Australian food tech start-up Eden Brew said it would have animal- free dairy ready for market by 2024. The founders are Australia’s largest dairy co-op Norco, Main
Sequence – the deep tech venture fund of CSIRO, and seasoned FMCG specialist Jim Fader.
Eden Brew says it has pioneered a way of creating dairy milk using precision fermentation rather than the traditional four-legged bovine supplier. Using science from CSIRO, it has found a way to produce the same proteins found in cow’s milk. Most of the protein in cow’s milk forms into tiny cages called micelles. These cages are loaded with calcium designed to deliver nutrients as well as giving milk its unique characteristics, including its white colour.
Eden Brew is currently undergoing prototype testing at CSIRO’s Food Innovation Centre in Victoria and is expected to be in market with its first product in the next 18 months.
AUG/SEP
MCCAIN FOODS SELLS SARA LEE
New Zealand private equity firm South Island Office (SIO) bought the ANZ operations of Sara Lee
from McCain Foods. McCain announced in October 2020 it was looking to sell the business.
SIO bought New Zealand bakery business Original Foods Baking Co. for $30 million in 2020. It was the first move by the company into the food sector. It said
the acquisitions will bring together two successful
brands into the region’s leading frozen desserts and bakery treats business.
Sara Lee recorded $96 million in sales in FY20 and more than $15 million in earnings before interest, tax, depreciation, and amortisation (EBITDA). Baked goods accounted for 31 per cent of sales and ice creams 17 per cent. Sara Lee holds 53 per cent of the frozen dessert market in ANZ.
JBS ANNOUNCES HUON AQUACULTURE BID
Protein giant JBS announced it would acquire 100 per cent of the Tasmanian salmon farming company Huon Aquaculture at $3.85 per share under a proposed scheme of arrangement. The deal valued Huon at roughly $425 million and was unanimously recommended by the board.
Huon founders and major shareholders Frances and Peter Bender own around 53 per cent of issued shares and are voting in favour of the scheme. Huon’s board said it intends to declare a fully-franked dividend worth 12.5 cents a share prior to the implementation of the scheme.
ANDREW FORREST DOUBLES DOWN IN HUON
Following news of JBS’s proposed acquisition of Huon Aquaculture, Dr Andrew Forrest’s private holding company Tattarang bought more than 10 million shares in the salmon business, more than doubling Forrest’s voting power – from 7.33 per cent to 18.51 per cent, enough to block JBS’s takeover. It was the start of a series of exchanges that saw Forrest demanding JBS commit to certain animal welfare and environmental standards and JBS countering it already had.
ON THE COVER
Hydroflux
JULY 2021
THE THIRD PILLAR OF MY MUSCLE CHEF’S THE SEAWEED SOLUTION ALTERNATIVE PROTEINS P8 READY MEAL SUCCESS P20 TO SILENT EPIDEMIC P28
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✷
ON THE COVER
Schmitz Cargobull
AUGUST / SEPTEMBER 2021
DHUWA COFFEE: BREWING INGREDIENTS BLOOM WITH INSIDE THE LIFE OF RECONCILIATION P10 MICROALGAE P28 ACHOCOLATIER P36
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INKBUSINESS.COM.AU
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