Economy and finance
760 news found
Economy and financeSpain removes VAT on olive oil until september 2024
The measure also applies to other basic foods: after September VAT will rise to 2 or 4% depending on the products
The Spanish Council of Ministers today approved a Royal Decree to extend various measures to control the prices of essential goods. The measure was taken in the face of economic tensions caused by the... more
Economy and financeDeA Capital: 54% of employees are women
The 2023 ESG report certifies a constant reduction in the gender pay gap/Annex
DeA Capital Real Estate Sgr SpA announces that the ESG Report as of 31 December 2023 has been published. This Report also testifies to the development of the path towards sustainability that DeA Capital... more
Economy and financeElectrolux, EUR 140 million loan from Nordic investment bank
8-year sustainability funding to reduce emissions in the value chain by 2030
Nib, Nordic investment bank and Electrolux have signed a loan of 150 million dollars, amounting to about 140 million Euro in eight years linked to sustainability. The Swedish Group was one of the first... more
Economy and financeDraft EU budget 2025: the biggest share goes to the Cap
Proposal for an annual budget of 199.7 billion euro: 53.8 billion for the common agricultural policy
The EU Commission has proposed an annual EU budget of 199.7 billion Euro for 2025. The budget will be complemented by 72 billion Euro of disbursements from Next Generation EU. This substantial budget will... more
Economy and financeCampari: 220 million euro bond successfully placed
Interest rate of 4.24% per year. Intesa Sanpaolo lead manager
Davide Campari-Milano NV has successfully placed an unrated bond with a duration of seven years, aimed only at institutional investors. The offer concerns a bond which has a total nominal amount of 220... more
Economy and financeCoca Cola and Starbucks want to register brands in Russia
The two giants try to protect their intellectual property rights after leaving the country
Coca-Cola and Starbucks have requested to re-register their brands in Russia to protect their intellectual property rights after exiting the country in response to Moscow’s invasion of Ukraine in 2022. T... more
Economy and financeThe Italian agricultural and food districts close 2023 with a +4.5%
Intesa Sanpaolo monitors: almost 27 billion sales on foreign markets
Positive balance in 2023 for exports of Italian agri-food districts, which close with almost 27 billion sales on foreign markets and an increase of 4.5%, corresponding to almost 1.2 billion more than the... more
Economy and financeArefood-Crédit Agricole Italia: agreement for a 10 million euro loan
Strategy aims at a real estate portfolio with primary tenants of the Italian and European large-scale retail trade
The Arefood investment fund of the Arsenale Sgr Group announces the conclusion of a financing agreement with Crédit Agricole Italia for 10 million euros which has the aim of strengthening the investment... more
Economy and financeFAO: food prices continue to rise, blamed on cereals and dairy products
On the contrary, sugar, vegetable oils and meat (but not pork and sheep) continue to decline
The world food commodity price index rose for the third consecutive month in May, driven by increases in cereals and dairy products, which offset and exceeded declines in sugar and vegetable oil prices.... more
Economy and financeAcqua Fiuggi passes to Leonardo Maria Del Vecchio
Announced the purchase of 71.17% of the company by Lmdv Capital
It was expected, as we anticipated, the announcement of the closing of the operation that brings Acqua Fiuggi and Terme s.p. And the announcement has arrived: the entrepreneur, through the family office... more
Economy and financeMars invests in Germany: Viersen factory expanded
40 million euros to support Twix brand production
Mars invests in Germany. The snack multinational decided to put 40 million euros (43.3 million dollars) into the pot for its chocolate factory in Viersen, North Rhine-Westphalia. The aim of the investment... more
Economy and financeVandemoortele buys Dolciaria Acquaviva and expands in pastry
Apheon and the family sell the fund: the founder Pierluigi Acquaviva remains president
Vandemoortele, one of the leading European family-run food groups, with an important presence in Italy, announces the acquisition of Dolciaria Acquaviva, a renowned Caserta producer of frozen pastries... more
Economy and financeForeign trade outside the EU. Ice Agency: "The fluctuating trend is consolidated"
President Zoppas notes the recovery of exports to China and the consequences of geopolitical instability
As reported by Istat (read EFA News ), in the first four months of 2024 exports to non-EU countries grew by 2.2% and came close to 100 billion euros, ahead of what happened in 2023." The export numbers... more
Economy and financeCoca Cola ready to invest 175 million dollars in Kenya
Over the next 5 years funding to accelerate capacity expansion of the Coca Cola system in East Africa
Coca-Cola will invest 175 million dollar in Kenya over the next five years. This was stated by the same multinational through the Coca-Cola system in Kenya, composed of The Coca-Cola Company and its authorized... more
Economy and financeArdian fund raises 530 million and invests in snacks
Fund rising with over 120 investors on the list: 25% already allocated, among other things, to My Pie innovative snack company
Ardian, one of the world’s leading private market investment companies, today announced that it has raised €530 million for its third growth investment platform, Ardian Growth Fund III. In a challenging fun... more
Economy and financeItalian "sweet" shopping for Valeo foods, which acquired Dal Colle
The Verona company provides a complementary offer to the expanding operations of the Bain Capital company
Valeo Foods, one of Europe’s leading manufacturers of quality pastries and snacks, has completed the process for the acquisition of the assets of Dal Colle, a renowned Italian manufacturer of high-quality b... more
Economy and financeTap to pay, the new frontier of cashless
Allows merchants and restaurateurs to accept payments without additional devices
SumUp, a fintech company active in the digital payments industry with innovative solutions for businesses of all sizes, has added "Tap to pay" to its ecosystem of payment solutions for Italian customers,... more
Economy and financeSalov, closes "hard" 2023 with growing turnover (and volumes down)
More than 105 million liters of oil sold with revenues of more than half a billion Euro (+5%)
The Shareholders' Meeting of Salov, an industrial group globally active in the oil sector, controlled by Chinese Bright Food, approved the 2023 consolidated balance sheet closed with oil sales of over... more
Economy and financeEU antitrust, bitter chocolate for Mondelez
Fine of 337.5 million Euro "for obstructing trade in chocolate, biscuits and coffee products between Member States"
The European Commission fined Mondelēz International 337.5 million Euro for cross-border trade restrictions. This was communicated by the Commission itself in an official note stating that the fine was... more
Economy and financeDanone, 70 million euros in medical nutrition
Investment for the Steenvoorde plant: will produce food supplements for Nutricia
With an investment of 70 million Euro in its production site in Steenvoorde, in the Hauts-de-France region, Danone takes a further step forward to strengthen its development in the field of medical nutrition.... more
Economy and financeDifficult 1Q for Masi Agricola
Revenues down by 15%. Better in April
The board of directors of Masi Agricola, a company listed on Euronext Growth Milan and one of the Italian leaders in the production of premium wines, approved the consolidated results at 31 March 2024.... more
Economy and financeThree acquisitions for Omnia Technologies
Acmi, Sacmi Beverage and Sacmi Labelling join the company that becomes Italian giant in high-speed beverage
Omnia Technologies, the platform active in automation and bottling technologies for the sectors of spirits, wine, non-alcoholic beverages, dairy products and pharmaceuticals, launches a new division dedicated... more
Economy and financeMondelez beats first quarter estimates
The turnover at 9.2 billion dollar is more than the forecast of 9.1 billion: the merit goes up in prices (+6.3%)
Mondelez International beat market estimates by closing a first quarter with sales and earnings exceeding analyst expectations. In the first trimester the company has recorded a turnover clearly of 9,29... more
Economy and financeDanone buys Functional Formularies
The company Usa develops formulas to provide essential nutrients to those who have difficulty consuming solid foods
Danone has acquired, from Swander Pace Capital, Functional Formularies, a company based in the United States that develops formulas designed to provide essential nutrients and support people who may have... more
Economy and financeFAO: meat drives the rise in food prices
In April, sugar bucked the trend, causing higher-than-expected harvests in Asia
The benchmark for global food commodity prices increased in April. The trend is mainly tracked by the prices of meat, vegetable oils and cereals, which more than compensated for the decreases in sugar... more
Economy and financeKeurig Dr Pepper, positive quarter thanks to the price increase
Revenue at $3.47 billion beats analysts' expectations: prices up 3.1%
Keurig Dr Pepper beat Wall Street’s expectations of first quarter sales and earnings. The beverage company in Burlington, Massachusetts, recorded an adjusted profit of 38 cents per share for the quarter e... more
Economy and financePutin nationalizes Ariston Russia, the Italian government is not there
A decree entrusted the management to Gazprom: the Foreign Minister Tajani convenes the ambassador
"I gave a mandate to the Secretary general of the Foreign ministry to summon the ambassador of the Russian Federation to Italy". He said in a message on X the Foreign Minister Antonio Tajani reporting... more
Economy and financeIl Granaio delle idee teams up with Ginkgo Bioworks in the name of the Pater
The Venetian company will use US biotech technology to improve its bakery patent
Il Granaio delle idee (Igdi), a company based in Maserà di Padova (PD) that operates as a blender on an international scale offering a wide range of blends and clean label helpers for bakery, pastry and... more
Economy and financeItalian export. Exceeded €100 B in the first two months of 2024
Zoppas (ITA Agency): "In February, our foreign trade grows more than the EU average"
The export growth of 1.7% recorded in February 2024, compared to the same month in 2023, is part of a highly volatile context that is difficult to predict. The data is characterized by strong divergences... more
Economy and financeIvs group, another year of growth
Balance sheet approved with revenues up: vending +24%, Italy to 463.4 million turnover
Budget 2023 approved for IVS Group, Italian leader and second operator in Europe in the management of vending machines and semi-automatic for the administration of hot and cold drinks and snacks (vending).... more
Economy and financePE ready for the assault of Preziosi Food?
Rumors of interest for the company: in pole position Dea Capital and Italian Investment Fund
The rumors multiply of how many, between industrial operators and private equity, seem interested in Preziosi Food, the group of salty snacks. Although the sale process has not yet been officially launched... more
Economy and financeLongino and Cardernal returned positive in 2023
Revenues grew by 12.9% and ebitda stood at 800 thousand euros, from the red of 700 thousand euros a year earlier.
The 2023 financial year "not only maintained the growth of the first half but also significantly improved the result". This is how Riccardo Uleri, president and ceo of Longino & Cardenal S.p.a., active... more
Economy and financeCvc: after Italy, Iberian shopping for the English fund
First La Piadineria, now it’s the turn of the Spanish Monbake specialized in frozen dough
After the recent Italian shopping with the acquisition of La Piadineria, the British fund Cvc, one of the leading managers of private markets globally, announces the investment in Grupo Monbake, leader... more
Economy and financeIcam chocolate beats the crisis: 2023 closed with revenues +7%
Despite the problems of cocoa, the company in Como reaches € 216.5 million in revenue, +36% from 2019
Icam Cioccolato, a company based in Orsenigo (Como), a leader in the production and marketing of chocolate and cocoa semi-finished products, announces the closure of 2023 with a turnover of 216.5 million... more
Economy and financeDanone towards the sale of its activities in Russia
Agreement closed with Vamin Tatarstan to whom dairy yields: loss of € 1.2 billion
Danone is on the way to agreement regarding its activities in Russia. After the latest news of recent days that foreshadowed a resurgence of hostilities with the Putin government since 2022, today the... more
Economy and financeIntesa Sanpaolo: 120 billion euro growth plan
Target on SMEs, micro-companies, third sector, food chains and tourism
"Quality is the key element for every sector", explains Stefano Barrese, head of the Banca dei Territori Division of the banking group. more
Economy and financeMars USA invests $70 million in innovation
In New Jersey new R&D Innovation studio
The US snack company Mars has announced an investment of over $70 million in its Hackettstown, New Jersey headquarters to improve innovation and production. The company, according to the official statement,... more
Economy and financePizzoli, new 100 million euro plant for frozen potatoes
The site inaugurated in San Pietro in Casale (Bologna)
A high-tech and automation plant of 40 thousand square meters covered, one of the largest in Europe for this sector, for an investment of 100 million Euros. This is what is behind the ribbon cutting that,... more
Economy and financeUnigrains Italia has entered the capital of La Prensa Etichette
With 4 factories the company produces over 8,000 tons/year of paper and plastic labels for food and beverage
Prensa Etichette opens its capital to Unigrains Italia, Bnp Paribas Bnl Equity Investments, Alexa Invest and Civesio Printing. This is confirmed by the official statement of one of the institutional investors,... more
Economy and financeEU approves 1.1 billion state aid to Italy for zero emissions economy
Supporting investment in equipment to promote the transition to a net emission-free economy
The Commission approves a 1.1 billion Euro scheme of Italian State aid to support investment in equipment "necessary to promote the transition to a zero net emission economy" according to the Green Deal... more
Economy and financeIrca (chocolate and ingredients) acquires Benetti
The operation will guarantee greater presence in the provinces of Padua and Rovigo
The Irca Group, an international leader in the production of chocolate, creams, fruit and high quality ingredients for the food sector, has signed a binding agreement for the acquisition of Benetti, Italian... more
Economy and financePermira: team to invest in climate transition
Kush Patel leads asset hunting section: a 12 billion business
Private equity firm Permira announced today that it has appointed a dedicated team "to identify investment opportunities in the climate transition value chain". The team, led by Kush Patel and another... more
Economy and financeSill Enterprises wants Knorr in France
The company has made an offer to Unilever for the field of the liquid soups
Sill Entreprises, a French company based in Plouvien, Brittany, specializing in dairy products, soups and frozen products, made an offer to Unilever for the purchase of its Knorr liquid soup business in... more
Economy and financeDole sells Progressive Produce for $120 million
Operation for organic producer that generates $ 400 mln in the USA
Dole, a US agricultural multinational based in Westlake Village, California, has reached an agreement to sell its 65% shareholding in Progressive Produce to PTF Holdings, a company owned by Arable Capital... more
Economy and financeEU agri-food: 6.9 billion euro surplus in November 2023
Exports expanding to the UK, declining to the USA and China. Brazil maintains import primacy
The European Union's agri-food trade surplus continues to grow. In October 2023, it reached 6.9 billion euros, up (+3%) compared to the previous month and November 2022 (+27%). From January to November... more
Economy and financeLactalis Italy sanctioned for unfair practices. The company resorts
The anti-fraud institute of the Agriculture ministry imposed a fine of 74,000 euros
The ad Pomella has announced its intention to meet Minister Lollobrigida. more
Economy and financeDiageo deals to sell three brands and get the accounts back
Rum Pampero, historic Pimm’s and Safari spirits would be on sale to increase profits and dividends
Diageo would be in talks to sell three brands of its products. These include the Pampero rum and the famous Pimm’s, an English drink considered a bit "snob", traditionally served at Wimbledon and polo t... more
Economy and financeThe USA against the megafusion of the two food giants Albertsons and Kroger
The $24.6 billion deal could fade due to antitrust opposition and a coalition of states
More and more clouds are gathering over the megafusion of food between Albertsons, a gigantic US grocery with over 2,200 stores and 270,000 employees, and the other giant Kroger retail chain founded by... more
Economy and financeEmirates Flight Catering makes Bustanica, the largest vertical farm in the world
The 330,000 sqm plant near Dubai Airport grows more than 1 million kilos of vegetables a year
Emirates Flight Catering, one of the largest catering services in the world, has acquired Emirates Bustanica, formerly called Emirates Crop One, and its consumer brand Bustanica, the largest vertical indoor... more
Economy and financeChina proposes itself as the new world granary
Investigation Discloses: the Country will come to hold 52% of world stocks of wheat
Not all evil comes to harm, they say. And never as in this case the popular adage has a practical application that confirms it. Because it is now clear that the war between Russia and Ukraine is good for... more