FDBusiness.com

Nordzucker Takes Majority Stake in Australian Sugar Producer

 Breaking News
  • Carlsberg Group Upgrades Full Year Operating Profit Outlook Carlsberg Group has delivered organic operating profit growth of 17.7% for the first half of 2019 with reported growth of 18.2% to DKr 5.17 billion (€693 million). Organic net revenue growth was 4.2% and on a reported basis net revenue rose by 6.5% to DKr32.99 (€4.42 billion). Operating margin improved by 160bp to 15.7%. Reported net [...]...
  • Diageo Forms New Rum Joint Venture Diageo and Corporación Cuba Ron, a leader in the production of premium Cuban rums, have created a joint venture – Ron Santiago. The joint venture will have exclusive global distribution rights to Santiago de Cuba, a premium Cuban heritage rum brand. Globally, premium and above rum segments are growing ahead of the category overall, with premiumisation [...]...
  • Stirring Times For US Yogurt – Innovation is Vital in a Changing Consumer Environment Over half of all U.S. consumers now buy yogurt as part of their typical grocery basket, according to a new report from Innova Market Insights, but their habits appear to be evolving. Convenience themes are becoming increasingly important, for example, with 17% of consumers naming this as a significant choice factor in 2018, which is [...]...
  • FrieslandCampina Significantly Expands its VLOG Production Due to the sharp increase in demand in Germany, FrieslandCampina is increasing the number of participating dairy farms that supply VLOG milk from 400 to more than 600. All VLOG milk produced by Dutch FrieslandCampina dairy farmers is used to make cheese for the German market. VLOG (Verband Lebensmittel Ohne Gentechnik) is a German association responsible [...]...
  • English Food Manufacturers Sign Up to Made Smarter Support A number of food manufacturing firms in the North West of England have signed up to a business-led programme which aims to use digital technology to boost growth and success. By implementing advances in data analytics, Artificial Intelligence (AI), Augmented Reality (AR), Industrial Internet of Things (IIoT), 3D-printing and robotics, firms can enhance their profitability [...]...

Nordzucker Takes Majority Stake in Australian Sugar Producer

Nordzucker Takes Majority Stake in Australian Sugar Producer
February 13
10:31 2019

Germany-based Nordzucker, which is one of the leading sugar manufacturers in Europe, is acquiring a 70% majority stake in Mackay Sugar, Australia’s second-largest sugar producer. The deal will allow Nordzucker to build up production capacities outside Europe and further its strategy of focusing on sugar production from sugar beet and sugar cane.

The acquisition is subject to the approval of Mackay Sugar’s shareholders and other conditions precedent such as the sale of one of the four Australian sugar factories. Nordzucker will contribute equity capital of Au$60 million (€38 million) for the 70% stake. Mackay Sugar will also receive an additional shareholder loan of up to Au$60 million. The equity and debt capital contribution will mainly be used for maintenance and capital expenditure in order to significantly increase the availability of the three remaining plants with an annual production capacity of about 700,000 tonnes of sugar over the next few years and make the company sustainably profitable.

“The growth in sugar is taking place in regions outside the EU. By acquiring a stake in Mackay Sugar, we can secure a substantial share of the Australian market and gain access to the Southeast Asian market,” explains Dr Lars Gorissen, chairman of Nordzucker’s executive board. “Cane sugar production is profitable even at lower sugar prices due to cost structures. We are convinced that Mackay Sugar with its investments in the plants will be able to make in the medium term a sustained positive contribution to group earnings.”

About Author

mike

mike

Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 11, 2019Packaging Innovations & Luxury Packaging London 2019
  • October 1, 2019PPMA Total Show
  • October 17, 2019Future Food-Tech
  • November 18, 2019Plastics Caps and Closures Conference 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements