Weekly Recap…May 24, 2022
BENEO, a subsidiary of Südzucker, has entered into a purchase agreement to acquire 100% of Meatless BV – a producer of functional ingredients – reports ESMMagazine.com. Meatless’ current management will remain in place as part of the transaction, Südzucker noted in a statement. BENEO, created in 2007, recently unveiled its development project for a new protein concentrate production plant at the Offstein site in Rhineland-Palatinate. A sharp increase in population and the resulting higher protein requirements – as well as the general trend towards vegan and vegetarian diets, and the shift to sustainable fish and meat substitutes – are all factors underpinning the increased investment by the group in this area.
McDonald’s Corp franchisees. in Russia will have the opportunity to work under a new brand that will be launched shortly, TASS news agency said on Friday, citing Oleg Paroev, general manager of McDonald’s Russia. “There will be a new brand and we will offer our current franchisees to join the new system on new business terms, which they can accept or decline,” Paroev said. “It is in everyone’s interest to launch the new brand as soon as possible. The brand itself, under which [they] work, will have to change. They won’t be able to work under McDonald’s. The trademark rights are owned by the company – they were given to us for use on Russian territory – which McDonald’s Russia has “sub-leased” to franchisees. The fast-food company is selling its restaurants in Russia to one of its local licensees, who will rebrand them under a new name, ending more than three decades of Golden Arches in the country. McDonald’s has said it will keep its brands, Reuters reports.
Prepared fresh produce company Greenyard has announced that it has signed a sale-leaseback agreement with a real estate investor in Bree, Belgium, for his Greenyard Prepared installation, reports ESMMagazine.com. The transaction generates approximately 90 million euros in proceeds, net of tax, in what the company described as “good momentum in the market”. Closing of the transaction is subject to customary conditions, such as obtaining soil certificates and other formalities, Greenyard noted. The proceeds of €90 million have no effect on the operations or functioning of Greenyard’s Prepared division. The full amount of net proceeds will be used to voluntarily repay bank debt.
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