News Wrap: 20 February

Every week, Food & Drink Business editor, Kim Berry, brings you the latest news from the food and beverage manufacturing sector. This week: Colgate Palmolive, Prime100, Fonterra, Magic Valley, The a2 Milk Company, Treasury Wine Estates, Yaffa Media turns 100, and THE HIVE AWARDS.

Entries are now open for the 2025 Hive Awards, and close next week! Check out 2024's Rising Star winner, Compassion Creamery, and get your applications in pronto!

From printing to publishing, Yaffa Media has always been about its people and niche audiences. Founded in 1925, it is one of Australia’s largest independent media companies. This year marks a centenary of storytelling.

Food & Drink Business presents its annual flagship Top 100 Food & Drink Companies Report for 2024. Compiled in collaboration with IBISWorld, the report ranks by revenue Australia’s biggest players in the food and drink sector. It’s your go-to industry resource into Australia’s largest manufacturing sector.

Colgate-Palmolive set to acquire Prime100 pet food

The Colgate-Palmolive company has agreed to acquire Care TopCo, owner of the Australian Prime100 pet food brand, as a complementary investment to its current portfolio. The deal valued the business at almost $500 million.

Fonterra prepares for possible consumer business IPO

Fonterra Co-operative Group CEO, Miles Hurrell, said the co-op is still pursuing a divestment of its consumer business and integrated businesses Fonterra Oceania and Sri Lanka, considering a trade sale or an Initial Public Offering (IPO).

Penfolds leads Treasury Wines growth, drops sale of low-end wines

Treasury Wine Estates says its walking away from trying to sell its Commercial brands portfolio because the offers received were too low to be considered. At the Premium end of its business, Penfolds delivered an “outstanding result”.

A2 Milk Company reports impressive first half

The a2 Milk Company (a2MC) achieved several milestones in 1H FY25, including double digit revenue growth, declaring its first dividend, and upgrading its full year revenue and earnings guidance.

Snacking influence in the digital age

The latest research from data analytics company, Euromonitor International, has shown Asia Pacific and Australasia as a whole are being challenged by low consumer demand for snacks, following years of inflation. Head of snacks , Carl Quash III, discusses the rise of digital platforms in snack marketing.

Cultured meat start-up receives $100k IGP grant

Cultured meat start-up, Magic Valley, has received a $100,000 government grant through the Industry Growth Program, which the company says will directly support the scaling up of its production capacity and refining processes to prepare for commercialisation.

Third CEO for Nuchev in three years

Infant formula company, Nuchev Limited, has appointed Nathan Cheong as its new CEO, taking up the role from Mick Myers, who will transition to COO in conjunction with his previous position as CFO.

Packaging News

Queensland-based sustainable packaging innovator TomKat Koolpack is set to expand its footprint across SE Asia through a partnership with Segi Fresh, a leading Malaysian fresh food retailer and distributor.

PKN’s first issue for 2025 is out and full of news and in-depth features, including on-the-floor coverage of major events Pack Expo and All4Pack, as well as the latest developments in Sustainable Packaging and Pack & Label Printing.

Viva Energy has produced its first ISCC+ certified bio-based polymer from used cooking oil, at its Geelong Refinery, with plans for the material to be made into flexible plastic packaging for snacks.