The NZ$307 million sale of the Pŋkeno facility to Abbott is complete, delivering a material debt reduction for the Canterbury dairy processor – but significant refinancing pressures remain as the company pursues its Stabilise, Simplify, Scale recovery plan.

Pure Foods Tasmania has entered a binding agreement to acquire the assets of Brilliant Food Australia, a premium seafood brand. The $300,000 deal adds the brand to the Woodbridge Smokehouse stable and lifts PFT’s revenue base by approximately 24 per cent.

The federal government has decided to defer the phased transition to full cost recovery for export regulatory services for one year, established a new Fertiliser Supply Working Group, and brought forward $6.15 billion in concessional capital to support Australian businesses affected by global disruptions.

Knorr, Hellmann’s, Maille and Frank’s will sit under McCormick’s roof in a transaction that marks Unilever’s exit from food manufacturing and the second-largest food deal in history.

Fonterra Co-operative Group has completed the sale of Mainland Group to French dairy giant Lactalis, closing a divestment process that began in mid-2024 when the co-op announced a strategic shift to become a pure-play global B2B dairy provider.

A potential combination of the world’s second and fifth largest spirits companies would create a $43.6 billion (US$30 billion) global player, second only to Diageo.

Tongala Nutrition has received a $1.5 million government grant through the new $150 million Victorian Investment Fund. The funding will support the company’s expansion, creating more than 40 new jobs in the region.

End Food Waste Australia (EFWA) and Hort Innovation have launched a new research program to tackle the challenges of harvest surplus and losses on-farm – a $2.5 billion opportunity for vegetable growers.

The federal government has confirmed it will not proceed with the Tax Laws Amendment (Incentivising Food Donations to Charitable Organisations) Bill 2024, saying the legislation contains “deficiencies that compromise its policy intent”, even as food insecurity remains at record levels across Australia.

A lot of food and beverage brands look strong when they’re small. They have one product, one pack, one clear idea and then they grow. That’s usually when things start to unravel, not all at once, but quickly enough to matter. The Creative Method founder and creative director, Tony Ibbotson, explains why – and growth is not the problem. 

Victorian-based Aquafab has completed a $620,000 Series A raise through Birchal, supported by over 300 investors. The company told Food & Drink Business that the funds will support continued national growth and plans in place to enter the US and UK markets this year.

Rumin8 is accelerating its methane reducing feed additive commercialisation progress in New Zealand, garnering $4.4 million (US$3 million) in investment as the company prepares to enter the final trial process.

French food and beverage giant Danone has acquired the UK-based meal replacement and functional nutrition brand, Huel, in a deal reported to be worth approximately €1 billion (AUD$1.2 billion).

The class action against Woolworths Group over the underpayment of salaried store managers has been extended in scope, with the claim period now running through to September 2020 following a Federal Court hearing on 20 March.

Melbourne-based independent brewery, Stomping Ground Brewing Co., has completed a $1.5 million crowd-sourced funding campaign through OnMarket, supported by more than 640 investors. The company is preparing to scale up, as it celebrates a decade of beer.

Australia's largest olive producer, Cobram Estate Olives (CBO), has completed its $250 million acquisition of US-based olive oil producer and marketer, California Olive Ranch (COR), from investment firm, Solum Partners.