More than $590 million in write-downs, an almost $175 million loss for FY20, legal action, investigations by the regulator and talk of divesting parts of the business are just some of the revelations and issues faced by Freedom Foods Group, revealed in its FY20 financial report. Read more
A once in a generation reset opportunity for food and beverage manufacturers and associated wholesale distribution enterprises comes with the recent budget commitment to a “modern manufacturing strategy” designed to financially assist Australian manufacturers.
Australian Agricultural Company Limited (AACo) has reported a 1HY20 operating profit of $23.5 million and positive operating cash flow of $22.3million.
Profit-for-purpose start-up Able Foods has launched with the aim to produce quality meals for people on the National Disability Insurance Scheme as well as employment opportunities.
The Federal Court has disqualified former Murray Goulburn managing director Gary Helou and former chief financial officer Bradley Hingle from managing corporations following an ASIC investigation into their role in misleading representations on farmgate milk price decreases in 2016.
Chobani is the winner of the 2020 APCO Industry Sector: Food & Beverage award, based on Chobani's performance in its APCO Annual Report.
The long running case between Kraft Heinz and Bega Cheese over the trade dress used on peanut butter products has ended with the High Court of Australia ruling in Bega's favour.
Mitolo Family Farms was inducted in the Hall of Fame, while Never Never Distilling Co and Dinko Tuna Farmers were among winners at the 2020 South Australian Premier’s Food & Beverage Industry Awards.
Australian Primary Hemp (APH) has secured national distribution with 7-Eleven for its Mt. Elephant hemp seed and nut bars. It is expected to generate an annual sales volume between $1-1.4 million.
Nestlé will rebrand its Allen’s Red Skins to Red Ripper and Chicos to Cheekies, changing the names “due to overtones which are out of step with the company’s values”.
Costa Group has announced Sean Hallahan will be its new CEO and managing director from 31 March 2021. Hallahan has been the company’s COO since October 2017.
Synlait Milk is seeking to raise NZ$200 million, including a NZ$20 million share purchase plan (SPP), as it secures a new manufacturing supply agreement with an undisclosed multinational customer.
Buderim Group has announced it is undertaking a capital raise up to $6.2m to fund its updated business plan as a health and plant protein company, anchored by its macadamia business.
The Australian Food and Grocery Council will develop Australia’s largest industry-led plastic recycling scheme to collect and recycle nearly 190,000 tonnes of plastic packaging a year by 2025.
Mighty Craft (formerly Founders First) has announced it will invest up to $1.5 million into Slipstream Brewing Co. to accelerate its growth.
The peak body for the seafood industry, Seafood Industry Australia (SIA), has launched the first national flagship brand for the sector – Great Australian Seafood.
Top Shelf International has announced it will raise $47.2 million for its initial public offering. The company said the book for the IPO was anchored by a large spread of tier one institutional investors.