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Weekly Round-Up ... 24 May 2022

Südzucker subsidiary BENEO has entered into a purchase agreement to acquire 100% of Meatless B.V. – a functional ingredients producer reports ESMMagazine.com. Meatless’s current management will remain in place as part of the transaction, Südzucker noted in a statement. BENEO, formed in 2007, recently unveiled plans to develop a new production plant for protein concentrates, at the Offstein site, in Rhineland-Palatinate. A sharp increase in the population and the associated higher protein requirements – as well as the general trend toward vegan and vegetarian diets, and the processing into sustainable fish and meat replacements – are all factors underpinning the group’s increased investment in this area.

McDonald’s Corp. franchisees in Russia will have the option of working under a new brand that will launch imminently, the TASS news agency quoted Oleg Paroev, McDonald’s Russia’s general director, as saying on Friday. “There will be a new brand, and we will offer our current franchisees to join the new system on new commercial terms, to which they can either agree or refuse,” Paroev said. “It is in everyone’s interests 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 rights to the brand are held by the corporation – they were given to us for use on Russian territory – which McDonald’s Russia has been ‘subletting’ 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 the Golden Arches in the country. McDonald’s noted that it will retain its trademarks, reports Reuters.

Prepared fresh-produce firm Greenyard has announced that it has signed a lease-and-leaseback agreement with a property investor in Bree, Belgium, for its Greenyard Prepared facility, reports ESMMagazine.com. The transaction generates around €90 million in proceeds, net of tax, in what the firm described as ‘a good momentum in the market’. The closing of the transaction is subject to customary conditions, e.g. obtaining soil certificates and other formalities, Greenyard noted. The €90 million in proceeds has no effect on the operations or functioning of Greenyard’s Prepared division. The full amount of the net proceeds will be used to voluntarily refund bank debt.

© 2022 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. For more A-brand news, click here. Click sign up to subscribe to Checkout.

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