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Lyft Secures $500m Funding at $7.5bn Valuation

Apr 10, 2017

Ride-hailing company Lyft has reportedly raised $500m in a new round of funding that valued the company at about $7.5bn. Uber's rival has been trying to raise investment for some time to enter new markets. In the first quarter of this ...

Tags: Lyft, Ride-hailing

Swander Pace Buys Flavored Foods Manufacturer Passport Food

Apr 10, 2017

Private equity firm Swander Pace Capital has acquired Passport Food Group, a manufacturer and distributor of globally-flavored foods to foodservice and retail sectors in North America. Passport Food Group (Passport), was previously owned ...

Tags: Passport Food, foods

CPF Agrees to Acquire UK-Based Westbridge Food

Apr 7, 2017

Charoen Pokphand Foods' (CPF) subsidiary CPF Investment has agreed to acquire Westbridge Food Group (WFGL) for approximately THB2.6bn (£60m). WFGL is a UK-based company expertizes lie in sales of meat and ready-made products to ...

Tags: Westbridge Food, ready-made products

Reckitt Benckiser Explores Sale of Food Business

Apr 7, 2017

UK consumers goods company Reckitt Benckiser is weighing strategic options for its food business to help pay down debt after its planned $16.6bn purchase of Mead Johnson. The company is mulling over all options for the food business, ...

Tags: Reckitt Benckiser, Food Business

World's Oldest Brewery Announces New Limited Release Beer

Apr 7, 2017

Bavarian State Brewery Weihenstephan has unveiled a new, limited release beer. The drink is inspired by an old label found in Weihenstephan's vault dating back to the 1950's. The one-time release will hit shelves nationwide, this April. ...

Tags: Beer, Weihenstephan

Subaru's Redesigned 2018 Crosstrek to Debut in New York

Apr 7, 2017

Subaru of America will showcase its new 2018 Crosstrek at the upcoming New York International Auto Show. Under the hood, the Subaru 2018 Crosstrek is powered by a revised FB 2.0 litre 4 cylinder Boxer engine coupled with a direct ...

Tags: Subaru, engine

Daimler, Bosch Partner on Automated, Driverless System

Apr 7, 2017

Daimler and Bosch are partnering to speed up the development of self-driving cars. The two companies have signed a development agreement to bring fully automated (SAE Level 4) and driverless (SAE Level 5) driving to urban roads by the ...

Tags: Daimler, Driverless System

Evolva, Cargill Partner to Develop Next-Generation Stevia Sweetener

Apr 7, 2017

Evolva will collaborate with Cargill for the production and commercialisation of the next-generation stevia sweetener, EverSweet. This product is on track for a 2018 launch, securing its first-mover advantage. EverSweet is a ...

Tags: sweetener, Evolva

Highlander Partners Acquires US Candy Company Gimbal Brothers

Apr 7, 2017

Middle-market private investment company Highlander Partners has acquired Gimbal Brothers, a manufacturer of gummy vitamins and gourmet jelly beans. Highlander Partners has also formed Bettera Brands to pursue confection and snack ...

Tags: gummy vitamins, beans

Real Good Food Acquires Majority Stake in Brighter Foods

Apr 7, 2017

Real Good Food announced that it has acquired an 84.33% stake in Brighter Foods for total consideration of up to £9m, on a cash and debt free basis. The two companies announced a new partnership to build on the success for the Wales ...

Tags: Real Good Food, snack bar

Deutsche Beteiligungs Enters European Convenience Food Business with Two Acquisitions

Apr 7, 2017

German private equity firm, Deutsche Beteiligungs (DBAG) is looking to have a major presence in the European chilled convenience product market after agreeing to acquire Abbelen and Oscar Mayer through its top-up fund, DBAG Fund VII. ...

Tags: ready meals, snacks

Audi, Porsche Partner for Electric Vehicle Development

Apr 7, 2017

Audi and Porsche, the subsidiaries of Volkswagen plan to join forces in the development of next generation mobility, which could include electrification, connected and autonomous driving. This will enhance competitiveness so that the two ...

Tags: Audi, Volkswagen

Ford to Launch Mondeo Energi Plug-in Hybrid in China Next Year

Apr 7, 2017

Ford Motor has announced to launch Mondeo Energi vehicle in China next year, as part of its new electrification strategy for the country. Mondeo Energi will be Ford’s first plug-in hybrid to be manufactured by Changan Ford joint ...

Tags: Ford Motor, Plug-in Hybrid

Mars Plans $70m Reinvestment in US Manufacturing

Apr 5, 2017

Mars has announced plans to reinvest $70m in its US supply chain, with the creation of around 250 jobs at sites across the country. The company said the move will ensure that over 95% of its chocolate products for the US are made here. ...

Tags: Mars, chocolate products

Public Health England Publishes Guidelines on Reducing Sugar in Food

Apr 5, 2017

Public Health England (PHE), an executive agency of the UK's Department of Health, has published new guidelines designed to reduce the amount of sugar in nine food product categories. The public health body is challenging manufacturers to ...

Tags: Sugar, PHE