Food Business News - February 9, 2016 - (Page 14)

Nature's perfect Protein ChemChina to acquire Syngenta for $43 billion BASEL, SWITZERLAND - China National Chemical Corp., also known as ChemChina, has agreed to acquire Syngenta for $43 billion, a transaction billed as the largest foreign acquisition by a Chinese company. ChemChina has offered to acquire the company at $465 per ordinary share plus a special dividend of 5 Swiss francs to be paid conditional upon and prior to closing, which equates to about 480 Swiss francs per share. Syngenta agreed to the takeover bid after spurning a $46.5 billion offer from St. Louisbased Monsanto in August 2015. In a company statement issued Feb. 3, Syngenta said its board of directors considers that the proposed transaction "respects the interests of all stakeholders and is unanimously recommending the offer to shareholders." A Swiss and U.S. tender offer will commence in For product and application information on whey proteins contact 7500 Flying Cloud Drive, Suite 250A Eden Prairie, Minnesota 55344 1-800-757-7611 14 F B N ©2015 Agropur OOD inc. (Davisco Unit). All rights reserved. USINESS Business EWS® the coming weeks. The transaction is expected to conclude by the end of the year. Beijing-based ChemChina will keep existing Syngenta management in place following the transaction. The company said it also would consider an initial public offering of the business. "In making this offer, ChemChina is recognizing the quality and potential of Syngenta's business," said Michel Demaré, chairman of Syngenta. "This includes industry-leading R.&D. and manufacturing and the quality of our people worldwide. The transaction minimizes operational disruption. It is focused on growth globally, specifically in China and other emerging markets, and enables longterm investment in innovation." In January, ChemChina acquired German machinery maker KraussMaffei for about $1 billion and took a 12% stake in Swiss energy trader Mercuria. In March 2015, it bought Italian tire manufacturer Pirelli. "The discussions between our two companies have been friendly, constructive and co-operative, and we are delighted that this collaboration has led to the agreement announced today," said Ren Jianxin, chairman of ChemChina. In financial results issued Feb. 3, Syngenta posted net income of $1,339 million in the fiscal year ended Dec. 31, 2015, down 17% from $1,619 million in fiscal 2014. Net sales totaled $13,411 million, down 11% from $15,134 million. FBN A new venture for PepsiCo PURCHASE, N.Y. - Coming soon to New York is Kola House, a bar and restaurant launched by PepsiCo, Inc. Set to open this spring, Kola House will feature a menu of food and beverages inspired by the kola nut, a caffeine-containing fruit with a bitter flavor. "The Kola House represents a new space for us to support our consumer-first approach to drive authenticity and innovation around our beverage offerings and ideals," said Seth Kaufman, chief marketing officer, PepsiCo North America Beverages. PepsiCo partnered with hospitality group The Metric to open the flagship in New York's meatpacking district, which also will serve as an event space for music, art, style, film, sports and more, according to the company. Kola House will offer a full menu of artisanal specialty plates from "a rising resident executive chef," PepsiCo said. Craft cocktails will be created by celebrity bartender Alex Ott, who has a background in flavor chemistry and expertise in food and beverage pairings and global flavors, according to the company. The new venture follows PepsiCo's previous introduction of Caleb's Kola, a limited-release craft soda packaged in glass bottles and made with cane sugar, kola nut extract and spices. FBN February 9, 2016

Table of Contents for the Digital Edition of Food Business News - February 9, 2016

Food Business News - February 9, 2016
Mondelez expects snack sales to slow
Starbucks ‘firing on all cylinders’ in C.P.G.
Beverage Business News - Boosting the nutrition profile of beverages
Table of Contents
Web Contents
Editorial - Trust and the rising bar for ‘achieving’ food safety
Survey finds natural labels may mislead consumers
‘The U.S. consumer has changed’
Take the lead in transparency
ChemChina to acquire Syngenta for $43 billion
A new venture for PepsiCo
Chipotle focusing on recovery, food safety
Coca-Cola takes stake in Nigerian business
SuperValu picks new president, c.e.o.
Madagascar 2 - Vanilla prices soar again
Nestle in talks to acquire Israel’s largest food company
Global challenges weigh on Hershey’s earnings
Court sides with Dannon, General Mills in yogurt case
Market Insight - Beef is bouncing back
Ingredient Trends - Plant protein applications evolving
Ingredient Innovations - Three considerations when choosing emulsifiers
Emulsion innovation extends beverage stability
New Food Products
Ingredient Market Trends - Ethanol fuels fireworks in the Iowa Republican caucus
Ingredient Markets
Supplier Innovations and News
Ad Index

Food Business News - February 9, 2016