Weekly Roundup... 15 October, 2019
Published on Oct 15 2019 10:15 AM
Dairy giant FrieslandCampina has announced that it has entered into an agreement with Royal A-ware for the production and sales of mozzarella cheese. As part of the agreement, FrieslandCampina will supply milk from its farmer members to Royal A-ware, and share production knowledge and recipes. It will also be responsible for selling the product, which is expected to hit the markets in early 2020.
Thousands of Spanish olive oil farmers staged a protest in Madrid on Thursday calling for a fairer pricing system for their produce as they fear a recent slump could be exacerbated by impending US tariffs, reports Reuters. After a record harvest last season, farmers now receive less than €2 ($2.20) per litre for their oil, down from €3.5 - €3.75 a year ago, said Reyes Alarcon, an olive oil producer who joined the march. Yet Spanish olive oil can fetch double that price once it is exported, she said.
Canadian holding company Société d'Investissements Cabral has purchased a 15% stake in Domus Capital, the owner of Portuguese beer brand Cerveja Quinas, reports suggest. The holding company is part of the Global International Networks Canada Wines & Spirits, headed by Portuguese businessman Emanuel A Cabral. The company, with an annual turnover of around CAN$20 million, markets European wines and other alcoholic beverages in Canada.
Domino's Pizza surprised investors by resetting its long-term growth goals this week and said it would cut costs and investment this year as it battles the growing popularity of third-party delivery services and small pizzerias, reports Reuters. The company's shares, which fell 6% on a results release that showed growth slowing and profit below expectations, recovered to trade up 4% when executives laid out details of the spending plans on a call with analysts.
Shares in Dom Pérignon glass bottle maker Verallia, which floated on the Paris stock exchange in the country's biggest initial public offering this year, started trading on Tuesday at just above its offer price. The stock was trading at €27.13 by 07:10 GMT, compared to its initial public offering price of €27. Verallia, which supplies containers to brands such as Dom Perignon champagne and chocolate spread maker Nutella, was valued at €3.2 billion ($3.5 billion) in the flotation, reports Reuters. It aims to use the money raised to fund possible acquisition.
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