Cargill is investing more than $113 million to expand its cocoa processing sites in Yopougon, Ivory Coast, and Tema, Ghana. A $100 million investment will increase production capacity at Yopougon by 50%, creating 85 full-time local jobs and hundreds of indirect jobs, while a $13 million investment increases capacity at the Tema site in Ghana by 20%.
At the same time, Cargill is also investing $12.3 million over the next three years to expand sustainability and supply chain traceability programs in the two countries. This is a combination of a $7.7 million investment in Ivory Coast, and $3.4 million in Ghana in programs that will enhance the safety and well-being of children and families in cocoa farming areas and provide a more transparent, traceable cocoa supply chain for customers and consumers.
“We aim to shift a greater share of our global grinding activities to the countries of origin, so we can support the establishment of a broader, local agri-food industry,” said Lionel Soulard, managing director Cargill West Africa. “Working directly with both governments and other key stakeholders, we are committed to economic growth, building sustainable local businesses, and diversifying sources of income for cocoa farming communities.”
The sustainability and supply chain investments in the two countries are taking place as part of the Cargill Cocoa Promise—the company’s corporate commitment to improving the lives of cocoa farmers and their communities. These community projects will focus on creating stronger, more resilient cocoa-farming communities.
Purity Organic, an organic food company based in Oakland, Calif., has announced the acquisition of Dunn’s River Brands, maker of Sweet Leaf Tea and Tradewinds Beverage Co.
Califia Farms, maker of plant-based milks and ready-to-drink coffee, has raised $225 million from global investors in a series D financing round.
U.S. quick-service restaurant (QSR) chains, which represent the bulk of industry transactions, had four consecutive weeks of transaction increases in the retail month of December and were the primary contributor to the total industry gains in the month, according to The NPD Group.
TreeHouse Foods has announced the dissolution of the previously announced agreement to sell its ready-to-eat (RTE) cereal business to Post Holdings.
Cott has entered into a definitive agreement pursuant to which Cott will acquire Primo Water for $14 per share, a transaction that values Primo at approximately $775 million.