Economy and finance
797 news found
Economy and financeFiorucci salumi changes hands and returns to Europe
Historic delicatessen acquired by Germany's Navigato and Ireland's White Park
Fiorucci cured meats are returning to Europe. In fact, the company is moving from Mexican multinational Sigma Alimentos to Germany's Navigator group and Ireland's White Park Capital. Cesare Fiorucci charcuterie,... more
Economy and financeKraft Heinz, sales miss estimates and stock suffers
Wall Street opening at -1.3%: blame net sales attested at $6.72 bn (analysts expected $6.8 bn)
Kraft Heinz's sales miss estimates as price increases hit demand. The company itself said this, announcing that it missed quarterly sales estimates as inflation-hit customers bought fewer packaged meals... more
Economy and financeWheat king Bunge raises 2023 estimates after positive half year
Missouri agribusiness forecasts earnings of $11.75 share, higher than market expectations
One of the world's largest agribusiness deals has just been initiated (and is about to close) that could turn the grain sector itself on its head, with Glencore's acquisition of Viterra, Canada's largest... more
Economy and financeCherry Bank, €5 million loan to Sperlari
The goal is to foster the development of Paluani 1921's production lines
Strong support for both the manufacturing business and the excellence of made in Italy, without forgetting the impacts on the local economy. These are the key points that guided the closing of the 5 million... more
Economy and financeDeA Capital Alternative Funds Sgr invests in the Snaidero Group together with Amco
The operation envisaged a capital increase of over 15 million euro
IDeA Corporate Credit Recovery II (“IDeA Ccr II”), managed by DeA Capital Alternative Funds Sgr, today finalized an investment agreement in the Snaidero Group, confirming its support for the new 2023-2027 dev... more
Economy and financeMondelēz raises annual outlook thanks to rising revenues
Second quarter closed with sales up 17% to €7.7bn: 2023 forecast raised to 12%
Mondelēz International has raised its organic net sales growth forecast for the full year 2023 after reporting a 17 percent increase in sales in the second quarter, double the +9.5 percent increase in... more
Economy and financePret a manger, sales at over 500 million in the first half of the year (+20%)
The British chain recently made its debut in Italy through Chef Express
Pret a manger, a U.K. based coffee and food-to-go chain, reported 20% year-on-year sales growth in the six months ended June 30, 2023 to reach 430 million pounds, or more than 501 million Euros. The company... more
Economy and financeBrazilian antitrust blocks sale of DPA to Lactalis
It seemed like a done deal: instead, Cade refers the purchase to the Court of Justice
The technical staff of Brazil's antitrust watchdog, Cade, or Administrative council for economic defense, has given the body its negative opinion on the sale of Dpa, Dairy partners america Brazil, from... more
Economy and financeDanone, "solid" first half 2023
Turnover up 8.4%, sales up 6.4%
Danone reported a "solid" first half of the year, with net sales of 14.17 billion Euros, up 8.4%. Second quarter sales stood at 7.2 billion Euros, up 6.4%, with prices up 8.7% and volume/mix down 2.3%.... more
Economy and financeDeA Capital Real Estate Iberia: 100% occupancy of the Villaverde logistics platform in 5 months
The warehouse was the first expansion project in the Spanish market
DeA Capital Real Estate Iberia announces the full occupancy of its new last mile logistics project located in Villaverde (Madrid), just 11 km from the city centre, a privileged location for last mile e-commerce... more
Economy and financeIllycaffe'. Trieste targets China with capsules
Partnership with Hangzhou Onechance Tech wants to triple Chinese business
"China remains a virgin country for us: we are present with a subsidiary but for us it is the biggest unexplored opportunity". This was said by Illy Caffè ceo Cristina Scocchia, according to whom the A... more
Economy and financeFerrero: US subsidiary Ferrara Candy C. buys Dori Alimentos
The brazilian company in 2022 achieved sales of 226 million euros
Ferrara Candy Company, a U.S.-based confectionery manufacturer owned by the Ferrero Group, has taken over Dori Alimentos, a company founded in 1967, a large brazilian manufacturer and distributor of sweets... more
Economy and financeAutogrill: goodbye to the stock market
Dufry takeover bid has ended: after 26 years on the Milan Stock Exchange, the stock is no longer listed
It fits to talk about sadness in a case like this. Because it is peculiar and raises melancholy questions to no longer see on the stock market, in Milan, after 26 years of presence the ticker AGL linked... more
Economy and financeNB Aurora divests 49.9% stake to new vehicle
€144.2 million transaction for fund that invests in Italian SMEs of excellence
NB Aurora, a Luxembourg-based fund that invests in unlisted Italian SMEs of excellence, announces that "binding agreements have been signed regarding the sale of 49.9 percent of its holdings portfolio".... more
Economy and financeElectrolux ready to sell Zanussi and Zoppas
Demand is always falling and the Swedish multinational thinks about the sale of the two historic Italian brands
Second quarter 2023 in negative for Electrolux showing a decline in sales of 8.4% while on the revenue front the decline was more modest: -3%, to 2.84 billion Euros. What is worse is that the Swedish multinational... more
Economy and financeGrain deal, Putin attacks, Kiev responds
Russian missile raid in the Black Sea destroys 60,000 tons of grain. Ukraine: terrorism against the world
He has a good point when he says the czar of all Russias, Vladimir Putin, that "Western countries did everything they could to derail" the grain deal. He has a nice saying when he accuses the West, as... more
Economy and financeAzimut joins the Agricola Moderna group
The fund has invested 15 million euros in the society of vertical farming facebook sharing button
The Agricola Moderna group, one of the leading companies in the field of vertical farming and research and development of hardware systems and software applications for indoor farming, has completed the... more
Economy and financeWheat Ukraine/4. What are the consequences of the stop?
The futures are immediately splashed high, production is in danger: Italy looks for solutions, Europe trembles
The failure to extend the agreement on Ukrainian wheat is already having an effect. It is bad. The future of wheat with delivery in September immediately rose to 681.10 dollars per bushel (from 595 dollars... more
Economy and financeDigital agriculture, European Agritech project kicks off
Coordinated by the University of Pisa has a budget of 3.5 million euros
The Agritech EU project, "Digital Agriculture for Sustainable Development", is underway. With a budget of about 3.5 million Euros, co-financed at 50% under the Digital Europe program, it is coordinated... more
Economy and financeInvitalia publishes Sustainability Report 2022
More than 100,000 companies supported with incentives: 4.6 billion to support business
There are more than 100,000 enterprises supported with incentives in 2022, of which 23% are in the South, with a growth of 38% compared to 2021: of these about 4,800 are new enterprises, 76% of which are... more
Economy and financeBarry Callebaut, nine difficult months
Sales fall 2.7% but revenues rise 3.6%
Barry Callebaut closed the first nine months of fiscal year 2022/2023, which ended last may, with 6.29 billion Swiss francs (equivalent to nearly 6.5 billion Euros) of revenue, up +3.6%. Sales, however,... more
Economy and financeChristine McGrath is the new president of the World Cocoa Foundation
Also on the board of directors are Kojo Amoo-Gottfried and Tejinder Singh Saraon
The World Cocoa Foundation (WCF) has announced the appointment of Christine McGrath as its new president. McGrath is senior vice president and chief Impact & sustainability officer of Mondelēz International... more
Economy and financeNestlé brings regenerative agriculture to its productions
Initiative involves wheat farms and tomatoes for DiGiorno pizzas
Nestlé has launched an initiative to help bring regenerative farming practices to wheat farms within its "DiGiorno" pizza brand supply chain. The initiative, which will bring regenerative farming practices... more
Economy and financeCarrefour strengthens in France with Cora and Match brands
Deal closed with Delhaize Group: acquired the two brands for 1.05 bn in cash
The transaction includes the acquisition of the properties of 55 hypermarkets and 77 supermarkets. The transaction will be finalized in the summer of 2024 more
Economy and financeWater treatment, Ebara Europe acquires Spandau
Vicenza-based water pump company buys Skf's German business unit
Ebara Europe acquires Germany-based Spandau. The Gambellara, Vicenza-based company has signed an agreement with Swedish multinational Skf to acquire the business. The Vicenza-based company is a European... more
Economy and financeGfk and NielsenIQ, merger completed
Born a $4B consumer intelligence giant with more than 30,000 customers in more than 100 countries
GfK and NielsenIQ complete their merger. They officially announced this yesterday, speaking of the completion of their "strategic union" intended to create a global entity in the consumer intelligence... more
Economy and financeAb InBev invests €31 million in alcohol-free beers
The goal is to improve the technology of its breweries in Belgium's Flemish Brabant region
It hasn't been but a few hours since experts anticipated the British boom in alcohol-free beers, and here comes an industry giant like AB InBev announcing that it is investing 31 million Euros to improve... more
Economy and financeProsecco on tour in the U.S.
July 17-23 in New York City, sixth edition for National Prosecco Week
Given the great success of the previous editions, we are pleased to return to the United States for the sixth edition of National Prosecco Week". This was said by Stefano Zanette, president of the Prosecco... more
Economy and financeAlgebris Green Transition Fund, new round of 70 million
Fund that invests in agritech excellence has a 300 million fundraising target
Algebris Green Transition Fund, Algebris Investments' first private equity vehicle focused on energy transition, continues to grow and closes an additional funding round with 70 million Euros. With this... more
Economy and financeBrazilian acquisitions for Italian exhibition group
Mundogeo Eventos and Consultoria Empresarial acquired for 2 million euros
Italian exhibition group announces that it has acquired, through its subsidiary Ieg Brasil Eventos Ltda, 100% of the Brazilian company Mundogeo Eventos e Consultoria Empresarial Ltda. The Brazilian-registered... more
Economy and financeFao: food price index down (-1.4%) in June
Compared to the peak in March 2022, the decrease was as much as 23.2%
The performance was driven in particular by sugar (-3.2%), vegetable oils (-2.4%) and cereals (-2.1%). more
Economy and financeEmmi sells Gläserne Molkerei and sets its sights on ready-to-drink coffee
The giant divests German brand to invest in coffee, specialty cheeses and desserts
Swiss dairy giant Emmi is selling Gläserne Molkerei, a northeastern German company specializing in the production of regional organic dairy products, to Munich, Germany-based holding company Mutares.... more
Economy and financeAlpla expands recycling plant in Poland
8 million euro investment to build third line at site
Alpla, a global plastic packaging company, is expanding its recycling plant in Radomsko, Poland, with an investment of about 8 million euros. The goal of the investment top is to build the site's third... more
Economy and financeHeineken buys Oedipus craft beer
Top secret on figure for deal joining danish giant with young brand
Heineken Netherlands announced the acquisition of dutch craft brewer Oedipus Brewing, in which the giant had acquired a minority stake in 2019. The sum at the center of the transaction was not disclosed.... more
Economy and financeCarlsberg leaves Russia but does not say who it is selling the business to
Top secret operation for the Danish brewery which still confirms that it has signed the agreement
Carlsberg agrees to sell the Russian assets but does not disclose who the buyer is. The Danish brewer just said it has signed an agreement to sell its Russian operations, but did not name the buyer or... more
Economy and financeMcDonald's raises prices in Japan
Inflation is unforgiving and fast food chain raises prices in 184 branches from July 19
Inflation discounts no one anywhere, not even in quiet, so to speak, Japan. It is news these hours that McDonald's has decided to raise prices at 184 inner-city branches in the Land of the Rising Sun.... more
Economy and financeMondelez reduces operations in Russia
In response to the boycott implemented toward its brands by northern European companies
Global snack giant Mondelēz International has announced that it has scaled back operations in Russia and plans to make the business in the country a standalone operation with a self-sufficient supply... more
Economy and financeCoca Cola Italy, half a billion investment in ten years
The company released its 19th Sustainability Report
"Doing business sustainably is an opportunity to stimulate innovation, an engine of economic and social growth". It is, this, one of the drivers reported within the 19th Sustainability Report of Coca-Cola... more
Economy and financeSix million dollars to buy Starbucks Russia
That's the amount Anton Pinskiy spent to grab the 130 stores of the chain renamed Stars Coffee
Five hundred million rubles, equivalent to about $6 million. That's how much the buyer of Starbucks' former assets in Russia, restaurateur Anton Pinskiy, says he spent. The sum, according to the buyer... more
Economy and financeNewlat, new partners bring resources for acquisitions
Group of funds acquires 8.8% of the capital, with an investment of over 22.6 million
The group aims at an important acquisition on the English market, more
Economy and financeFrance forces food companies to reduce prices
Finance Minister Le Maire confirms that from July consumers will pay less for food
The French government stands united against rising food prices. And it doesn't use half-measures, it seems. Finance Minister Bruno Le Maire said last friday that French consumers, starting in july, will... more
Economy and financeReal estate. DeA Capital RE wins the Fiabci Awards in Miami
It's the first time that an Italian project wins the Prix d'Excellence
DeA Capital Real Estate Sgr with The Medelan won two prestigious “World Gold Winner” awards at the Gala evening of the 73rd edition of the FIABCI World Prix d'Excellence held last night in Miami, in the... more
Economy and financeRemy Cointreau closes fiscal year with strong profit
Beat forecasts: sales at € 1.5 billion (+10%), profit +16.2%
French group Remy Cointreau has beaten forecasts with a record annual operating profit. Sales in FY 2022-2023 stood at more than 1.5 billion Euros up 10% from the previous year and 43.6% higher than FY... more
Economy and financeElectrolux, saves Italian production in Treviso
Agreement between company and unions on 110 mln investment
The draft agreement between Electrolux and the trade unions Fim, Fiom and Uilm, on the 110 million Euros investment for the Susegana (Treviso) plant, has been signed. The signing of the latest draft of... more
Economy and financeBc Partners sells Forno d'Asolo
Private equity and industrial bigwigs among potential interested parties
The sale of Fda Group, better known as Bindi-Forno D'Asolo, among the leading players in the frozen pastry and bakery products sector, is on the starting blocks. According to Milano Finanza reports, the... more
Economy and financeDiageo replaces hospitalized ad Menezes early
He was due to retire June 30: his role goes immediately to ad designate Debra Crew
He was supposed to retire from office and retire on June 30, but instead Ivan Menezes , the CEO of Diageo is forced to leave office suddenly now. In fact, according to the company's statement, Menezes... more
Economy and financeDufry's opas on Autogrill closed at a 95% stake
The Swiss hold 94.50 percent of the company's share capital: soon to be delisted
Dufry's Opas on Autogrill has closed, with success, with the Swiss company taking close to 95 percent of the Italian one. After the reopening of the offer period that began on may 26, 2023 and ended on... more
Economy and financeIntesa San Paolo: 14 million in Roncadin to expand in the USA
The operation includes a frozen pizza production line for the North American market
Intesa Sanpaolo has signed a new 14 million euro loan with a Sace guarantee with Roncadin, an important Italian manufacturer of quality frozen pizzas, for an internationalization project through the US... more
Economy and financeItaly. Governor Zaia wants Golden power for Electrolux
"There was an attempt to change hands, the government absolutely must exercise it"
"I say this clearly: if it is true and if it ever occurs, but to date I am not aware of it, that there was an attempt to change hands, the government absolutely must exercise Golden Power. We cannot afford... more
Economy and financeBrazzale grows in Europe in Italy
In the Upper Vicenza area, employees tripled in 20 years. And more resources are being sought
"Since we started the internationalization process in the 1990s, our employees in Veneto have almost quadrupled." This is confirmed by Roberto Brazzale, president of the Vicenza-based dairy group of the... more