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Finance  the process of acquiring funds

Financial

Finance is how money is managed and the process of acquiring funds. Corporate and public finance includes pursuing investments, obtaining low-cost credit, allocating funds for liabilities, and banking.

News in brief

Peacock Engineering acquires L&L Foods

Peacock Engineering, based in Geneva, has acquired L&L Foods, an Anaheim, California-based business specializing in portion control packaging.

‘Demand for standard 12oz can has been declining for several years’

Ball Corporation to close one of its oldest US plants as it admits: ‘We compete against plastic, glass and metal packaging in a highly competitive market’

Ball Corporation says it is closing one of its oldest North American beverage packaging plants because it ‘competes against plastic, glass and metal packaging in a highly competitive market’.

News in brief

Stora Enso to divest its Barcelona mill for €10m

Stora Enso has signed an agreement to divest its Barcelona mill, in Spain, which produces recycled-fibre based consumer board, to the private equity fund Quantum for €10m.

US FY2016 Agriculture Appropriations Bill to support 8,000 FSIS frontline inspection personnel for meat, poultry, and egg products

The Food Safety and Inspection Service (FSIS) and the Food and Drug Administration (FDA) are two of the services to receive funding in the FY2016 Agriculture Appropriations Bill in Washington,...

News in brief

Bemis Company to acquire Emplal Participações

Bemis Company will acquire the South American rigid plastic packaging operations of Emplal Participações, a Brazilian manufacturer of plastic packaging for food and consumer applications.

Barry-Wehmiller to acquire Bielomatik paper processing group

Barry‐Wehmiller (BW) has agreed to acquire the Bielomatik group associated with the paper processing product line of Bielomatik Leuze, with the sale expected to be completed in the coming months....

JBT Corporation acquires Stork Food & Dairy Systems for €47m

JBT Corporation has acquired Stork Food & Dairy Systems (SFDS), a filling and sterilization solutions provider for €47m.

Acquisitions: Amcor, Gualapack, Constantia and Aurelius

It has been a busy time in the food and beverage processing and packaging arena for acquisitions. Let FoodProductionDaily guide you through some of the more notable ones this week.

Kraft refuses to discuss $114m Columbia expansion, with up to 150 job losses

Kraft Foods is allegedly seeking a 75% property tax break for 10 years on a $114m investment in equipment and infrastructure at its Columbia, Missouri, US, plant, downsizing from 500 to about 350 employees.

News in brief

CMA clears completed acquisition of Sonoco and Weidenhammer Packaging Group

An inquiry group of independent Competition and Markets Authority (CMA) panel members assessing the merger of Sonoco and Weidenhammer has confirmed its provisional findings, which were published in May .

News in brief

Kraft Foods Group shareholders approve Heinz merger

Kraft Foods Group shareholders have voted to approve the previously announced merger agreement for the creation of The Kraft Heinz Company.

News in brief

Duravant acquires Mespack in Spain

Duravant, an equipment manufacturer for food processing, packaging and material handling has acquired Mespack, in Barcelona, Spain.

News in brief

Greiner Packaging expands in Turkey

Greiner Packaging has acquired a 51% majority in Teknik Plastik and Teknik IML from the Özata Group, in Turkey. 

Mayr-Melnhof Packaging to acquire Ileos

‘Rapidly changing landscape as packaging suppliers build multi-national footprints’

Austrian-based Mayr-Melnhof Packaging (MM Packaging) has made an offer to acquire the folding carton operations of Ileos, in France, owned by Oaktree Capital Management for €80m.

Amcor Flexibles South Africa (AFSA) to buy Nampak

The South Africa Competition Commission has approved, without conditions the intermediate merger whereby Amcor Flexibles South Africa (AFSA) intends to acquire the flexible packaging business of Nampak.

European Commission clears Plastipak APPE acquisition

The European Commission has approved Plastipak’s acquisition of APPE, under the EU Merger Regulation act.

News in brief

Canadian Competition Bureau approves H.J. Heinz Kraft Foods Group merger

The Canadian Competition Bureau has issued a "no action" letter and will not challenge H.J. Heinz’s merger with Kraft Foods.

Kraft shareholders to vote on H.J. Heinz acquisition

Kraft shareholders will vote on a proposed acquisition of Kraft Foods Group by H.J. Heinz following a waiting period set by the Hart-Scott-Rodino (HSR) Act, which has now expired.

Apollo to buy Verallia for €2,945m from Saint-Gobain

‘There has been some substitution into rigid plastics and stand-up pouches but glass remains a premium product for luxury goods such as beverages’

Saint-Gobain has been in talks with Apollo Global Management, (Apollo) to buy Verallia for €2,945m, due to close at the end of the year, subject to the approval of competition...

Nomad Foods CEO speaks out after Iglo Group acquisition but refuses to discuss Findus deal

‘Nomad will take a disciplined approach to M&A paving its way into the chilled and ambient food sector’

Nomad will take a disciplined approach to evaluating future acquisition opportunities in the consumer foods space following its acquisition of Iglo Group, according to Stefan Descheemaeker, the newly appointed CEO ...

DS Smith completes Duropack acquisition

DS Smith Group has completed its acquisition of Duropack taking ownership of 14 corrugated packaging sites, two paper mills and 18 recycling sites across nine countries.

News in brief

Coveris expands into Australasia with acquisition

Coveris Holdings has acquired Elldex Packaging Solutions to expand into Australasia.

Vitro to go ahead with Monterrey expansion

O-I speaks out about its $2.15bn Vitro F&B glass container acquisition

Owens-Illinois (OI) has reached a definitive agreement to acquire Vitro, the largest supplier of glass containers in Mexico, expected to close within 12 months.

News in brief

Nomad Holdings announces CEO following Iglo Foods acquisition

Nomad Holdings (Nomad) has appointed Stéfan Descheemaeker as CEO of its recently-announced acquisition of Iglo Foods Holdings (Iglo Group), which is expected to close in the second quarter of 2015.

News in brief

IMA acquires OYSTAR

Industria Macchine Automatiche (IMA Group) has acquired OYSTAR Group from private equity firm ODEWALD.  

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