Kent Corporation, a U.S.-based manufacturer specializing in food, beverage, and agriculture products, has announced the acquisition of Frosty Boy Global.
Situated in Yatala, Australia, Frosty Boy manufactures desserts, beverages, savory ingredients, and powder-based wellness products.
The acquisition was orchestrated through Kent’s subsidiary, Kent Precision Foods Group. This subsidiary specializes in dry and liquid-blending packaging for both rigid and flexible packaging, offering branded and custom products to customers in the foodservice (domestic and international), industrial, and consumer products sectors.
The acquisition is poised to enhance Kent’s worldwide footprint. Frosty Boy runs manufacturing facilities in India and Australia, accompanied by sales offices strategically positioned in Indonesia, Malaysia, India, the Philippines, Australia, Turkey, Brazil, Dubai, and Thailand.
Mike Eversmeyer, president of Kent Precision Foods Group, said, “We are excited for Kent Precision Foods Group and Frosty Boy to join forces and expand what we each do best while leveraging our synergies. Together, our brands and products help people create meaningful experiences and long-lasting memories.”
Cibotica unveils revolutionary AI-powered ingredient-dispensing solution for restaurants
Cibotica, a technology developer specializing in dispensing and portioning solutions based in Canada, has introduced innovative ingredient-dispensing technology aimed at tackling issues within the restaurant industry.
The technology has been meticulously crafted through two years of thorough research and development efforts.
The core technology, which is patent-pending and powered by AI, has the flexibility to adapt to different ingredients, rendering it a versatile solution for precise dispensing and portioning of meals.
The technology is both compact and modular, discreetly situated under the counter. It is meticulously designed for the purpose of assembling salads and bowls.
Restaurants can achieve a 30% reduction in labor costs with this solution.
Capable of producing up to 300 bowls per hour, the solution’s precise portioning plays a pivotal role in significantly minimizing food wastage.
Utilizing a conveyor belt, the solution automatically positions food bowls, and as the conveyor advances, it precisely dispenses predetermined ingredients into each bowl.
This plug-and-play system serves as a turn-key solution, seamlessly integrating into existing kitchen layouts without causing significant disruptions or necessitating changes in how restaurants typically prepare their ingredients.
Cibotica co-founder Ashkan Mirnabavi stated, “Our journey began as restaurant industry veterans faced modern-day operational issues firsthand. We’ve been particularly focused on improving portioning and efficiency, tasks that have always been difficult to manage well.”
Cibotica co-founder and chief technology officer Daryoush Sahebjavaher stated: “As robotics engineers and restaurateurs, our mission is to help restaurant owners thrive by providing higher quality food at more affordable prices.
Cibotica co-founder Soroush Sefidkar added, “We are thrilled as this is a significant milestone, being one of the first of its kind in operation. As we expand our influence in the quick-service restaurant sector, we are simultaneously advancing our core technology for broader applications across various industries.
“We are currently planning installations with new customers and fundraising for our next round of investment.”
US-based private investment firm Highlander Partners has announced the merger of its Benestar Brands with Palmex, a Mexican snacks peer owned by Wind Point Partners.
As part of the transaction, Wind Point is set to become the majority shareholder in the merged entity, with Highlander maintaining a “significant minority position.”
Simultaneously, the Pretzilla division of Benestar Brands, specializing in fresh pretzel bread and snacks, will be separated into an independent business entity. This standalone entity will be owned by Highlander and managed by Pretzilla’s leadership, including President and CEO Bruce Myers.
Jose Luis Prado, the present chairman and CEO of Palmex, is slated to assume the position of chairman and CEO for the integrated organization. Meanwhile, Myers will maintain his role as president of the Benestar division within the consolidated company.
Prado has “over 30 years experience of leading snack businesses”, said Highlander in a statement. The chief executive has headed Evans Food Group, a former Wind Point portfolio company, was president of Quaker Oats North America, and CEO of Grupo Gamesa-Quaker.
Prado stated that the merger will expedite growth and align resources to effectively innovate and seize emerging market trends, particularly within the ethnic and better-for-you categories.
“This powerful combination of Palmex and Benestar represents a transformative step in our journey,” he said. “Our goal is to leverage this combination to introduce a wider range of innovative products, thereby enhancing our portfolio of offerings and market reach.”
Highlander added, “The merger creates a powerhouse in the North American salty snack industry, positioning the combined entity as one of the leading providers of Hispanic and better-for-you salty snacks across the continent.”
Jeff Hull, CEO of Highlander, remarked that the amalgamation of the two companies represents a noteworthy milestone in Benestar’s expansion plan. Hull emphasized that Benestar’s strategy involves both organic growth and expansion through multiple acquisitions.
“We’re thrilled about the endless possibilities this partnership opens up, including leveraging each company’s unique capabilities to drive growth and market penetration,” he said.
Jeff Partridge, a partner at Highlander, expressed that the amalgamation of Benestar’s distinguished brand portfolio with Palmex’s cutting-edge pellet extrusion capabilities will bolster innovation and expedite growth.
“Highlander will remain actively involved with the combined business from the board level, using its extensive food-industry expertise to provide strategic guidance to the combined organisation,” said Partridge.
Pretzilla operates manufacturing facilities located in Milwaukee, Wisconsin.
Based in Chicago, Illinois, Benestar serves as the corporate headquarters and functions as a holding company for various snack brands, such as Mac’s, 4505, Turkey Creek, and Pretzilla.
It runs seven manufacturing facilities throughout North America.
The owner of Mac’s produces pork rinds and tortilla chips, catering to markets both domestically and internationally.
Based in Monterrey, Mexico, Palmex is a third-party manufacturer specializing in better-for-you and “Hispanic” snack pellets. The company manufactures a range of salty snack products, including veggie sticks and straws.
Palmex operates production facilities in Puebla and Monterrey, Mexico, along with nine distribution centers—eight located within Mexico and one in Los Angeles.
It markets its products in diverse countries across North, South, and Central America, including the United States, Canada, Mexico, Colombia, Brazil, and Australia.
Demand for essential items such as basmati rice, edible oils, and maida (refined wheat flour) has seen a notable year-on-year increase of up to 35% during the ongoing wedding season, as indicated by industry executives.
Not only have larger urban areas experienced a surge in the consumption of essential commodities, but tier-2 and tier-3 cities have also observed a similar increase, according to their statements.
“We are seeing demand coming in from places like Udaipur, Jaipur, Agra, Kolkata, Uttar Pradesh, Bihar, Delhi and south India,” said Angshu Mallick, managing director of Adani Wilmar, which sells consumer staples under the brand name Fortune.
According to Mallick, weddings have evolved into more elaborate affairs this year, with the scale of gatherings expanding not only in metropolitan areas but also in semi-urban and rural regions.
“Our dealers and distributors have stocked more compared to last year. The number of invitees, which stood at 300 last year, has shot up to 500 this year. And this trend is being witnessed in smaller towns and cities where the population is 2-3 lakh,” he said.
Despite a 10% rise in prices attributed to strong export orders from Gulf countries, the year-on-year demand for basmati rice has surged by 15-20%.
“In this winter wedding season, which is one of the busiest of recent times, we have been witnessing steady growth in demand for basmati rice. Offering a great aromatic culinary experience has always been one of the priorities of families hosting marriage ceremonies,” said Atul Garg, managing director of GRM Overseas, a basmati rice company. “As a result, there has been a 15% increase in procurement demand for basmati rice from dealers and distributors across India compared to the demand during last year’s wedding season. The traders want to maintain the required stock level to meet the increased market demand in the wedding season.”
Mallick reported a 20% year-on-year increase in the demand for edible oil, while the demand for maida has experienced a significant surge of 35% during this wedding season.
As per the CAIT report, approximately 10% of this year’s total projected weddings are anticipated to take place in Delhi alone. Among these, around 50,000 weddings are expected to fall into the luxury category, incurring expenses of at least INR 1 crore each. Another 50,000 weddings are likely to have an expenditure of around INR 50 lakh per event, while approximately 600,000 weddings are expected to see expenses of about INR 25 lakh each.
According to the report, the majority of weddings, nearly 1.2 million of them, are projected to have expenses of approximately INR 10 lakh each. Additionally, another one million weddings are expected to incur expenses of around INR 6 lakh each.
Breaking its downward trajectory, retail inflation increased to a three-month peak of 5.55% in November due to strengthening food prices, particularly vegetables and cereals. However, it still falls within the Reserve Bank of India‘s acceptable range of less than 6%.
According to government data unveiled on Tuesday, the Consumer Price Index (CPI)-based inflation stood at 4.87% in October and escalated to 5.88% in November 2022.
The highest recorded inflation rate was 6.83% in August, and since that time, there has been a continuous decline in inflation.
Based on data from the National Statistical Office (NSO), inflation within the food basket rose to 8.7% in November, up from 6.61% in October and 4.67% in the corresponding month of the previous year.
The Consumer Price Index (CPI) assigns approximately 50% weightage to the food basket.
The yearly increase in prices for ‘spices’ was 21.55%, ‘pulses and products’ 20.23%, vegetables 17.7%, and fruits 10.95%. Additionally, the year-on-year inflation for ‘cereals and products’ stood at 10.27%.
Nevertheless, there was approximately a 15% decrease in retail prices of ‘oil and fats.’
Additional data indicated that inflation in rural areas reached 5.85%, while in urban centers, it stood at 5.26%, resulting in a national average of 5.55% for November.
The Reserve Bank of India has been tasked by the government to ensure retail inflation remains at 4% with a margin of 2% on either side.
In the monetary policy announced last week, the RBI projected the CPI inflation at 5.4% for 2023-24, with a reading of 5.6% in the third quarter and 5.2% in the last quarter.
Among the states, inflation was the highest in Odisha at 7.65%. Other states which witnessed inflation of more than 6% were Bihar, Gujarat, Haryana, Karnataka, Punjab, Telangana, and Rajasthan.
Delhi witnessed the lowest inflation at 3.1%.
Aditi Nayar, Chief Economist at ICRA said that the surge in food and beverages inflation to 8% in November was largely led by a sharp increase in vegetables inflation, even as seven of the 12 food sub-groups reported a moderation in their year-on-year inflation print.
She further noted the core CPI inflation eased to 4.2% in November 2023 from 4.4% in October 2023.
“This was the lowest print in the post-pandemic period. The sustained easing in the core CPI inflation is positive and has counterbalanced the menacing food inflation prints over the last few months,” Nayar said.
NSO collects the price data from selected 1,114 urban markets and 1,181 villages covering across the country on a weekly roster.
During November 2023, NSO collected prices from 99.9% of villages and 98.6% of urban markets.
Agilitas Sports, established by Abhishek Ganguly, the former managing director of Puma India and South-East Asia, secured an investment of INR 100 crore from Nexus Venture Partners. The funding will be utilized to foster a variety of consumer brands within the sports footwear and apparel domains.
In May, Agilitas secured INR 400 crore from funds managed by Convergent Finance LLP under Harsha Raghavan and an additional INR 30 crore from individual investors.
Agilitas Sports, specializing in sportswear and athleisure, operates across various domains, including manufacturing, product development, and retail. Earlier in the year, the company took over Mochiko Shoes Pvt. Ltd, a sports footwear manufacturer for brands like Adidas, New Balance, and Reebok.
The newly acquired funds are earmarked for boosting manufacturing capabilities and for launching new sportswear brands, either through acquisitions or partnerships with global and local brands, as mentioned by Ganguly.
Emphasizing the diverse consumer base for sports footwear and apparel in India, Ganguly highlighted Agilitas’s foray into sports retailing. The company is exploring options such as acquiring online-first sportswear brands or establishing long-term distribution agreements with well-established international or local brands.
Ganguly added that Agilitas intends to secure licenses from globally recognized brands with a robust heritage. Additionally, the company plans to pursue acquisitions, aiming to establish a comprehensive platform that spans manufacturing, design, product development, distribution, and marketing.
According to a brokerage report from Anand Rathi Investment in 2022, the sports apparel market in India, largely fueled by menswear, reached a valuation of $14 billion in 2020. The projection indicates an anticipated growth to $21 billion by 2023. Furthermore, the broader sports sector in India, encompassing media rights, apparel, sports nutrition, and sports equipment, is expected to expand from $27 billion in 2020 to $100 billion by 2027.
In the Indian market, prominent global brands like Nike, Skechers, Reebok, Puma, Adidas, Decathlon coexist with indigenous brands like Blissclub.
Suvir Sujan from Nexus Venture Partners underscored the swift expansion of India’s economy and the rising inclination toward an active and health-conscious lifestyle.
“Therefore, we are aligned with the vision of the company of Agilitas for Propelling a Generation through Sports,” Sujan said.
Soch has opened its 45th store in Bangalore, strategically positioned on Commercial Street. Spanning 2000 sq ft, this new store is poised to become one of the largest Soch outlets in the city, catering to the diverse ethnic wear needs of Bangalore’s fashion-forward women.
Inaugurated in 2005, Soch marked its first appearance in Koramangala, Bangalore. Nearly two decades since its inception, the brand has demonstrated sustained expansion, with a presence extending to over 170 stores across 68 cities. Within Bangalore itself, the brand has established 45 Soch outlets strategically placed in pivotal locations and popular hotspots.
The recently opened store on Commercial Street will showcase Soch’s comprehensive collection, featuring sarees, churidar sets, dresses, kurtas, lehengas, and fusion wear. Designed to elevate the shopping experience for Indian women, this store embodies the blend of enduring ethnic wear with unmatched convenience.
Vinay Chatlani, Co-Founder and CEO of Soch Apparels Pvt Ltd, remarked, “This is a significant milestone moment for the brand. From the first store in Koramangala 18 years ago to now opening the 45th store in the city, it has been an amazing journey. Soch has received immense love from the style-conscious women of the city, and we continue to strive to give the city an unparalleled shopping experience.”
Surpassing the milestone of 150 stores in August 2022, Soch has firmly established its nationwide footprint, spanning 68 cities and serving over 30,000 pin codes via its e-commerce platform. Beyond standalone stores and online avenues, Soch extends its retail reach through shop-in-shop formats and prominent online marketplaces such as Amazon, Myntra, and Ajio.
Grand Hyatt Gurgaon has appointed Mario Caramella as their Executive Chef. With an illustrious culinary career spanning over four decades, Chef Caramella brings a wealth of experience and creativity to the hotel.
His culinary journey is distinguished by an impressive array of accomplishments, demonstrating his steadfast dedication to the art of gastronomy.
Chef Caramella has refined his expertise through his tenure at prestigious five-star hotels and restaurants around the world.
Significantly, he played a crucial role as a member of the opening team at the Grand Hyatt Dream Tower in Jeju, South Korea. His culinary expertise was instrumental in the success of 14 restaurants and 1600 rooms. Demonstrating a skillful fusion of innovation and tradition, he effectively managed diverse teams, ensuring exceptional dining experiences for the guests.
As the Executive Chef at Hyatt Regency Phuket, Chef Caramella showcased his commitment to culinary excellence. Under his leadership, the culinary department underwent a revitalization, attaining the highest hygiene standards and notably diminishing food wastage. His emphasis on quality and safety, combined with his adept team management skills, resulted in an exceptional culinary operation at the resort.
Chef Caramella’s entrepreneurial drive took center stage when he established Initially Restaurant in Singapore. The success of the restaurant can be attributed to his vision and creativity, establishing it as a haven for enthusiasts of authentic Italian cuisine. Collaborations with Michelin-starred guest chefs further enriched the restaurant’s offerings, underscoring his commitment to enhancing culinary experiences.
In esteemed positions at renowned establishments like Grand Hyatt Hong Kong, Hyatt Regency Hua Hin, and Bali Hyatt, Chef Caramella’s culinary proficiency stood out prominently. His skill in creating unforgettable dining experiences, paired with his adept team leadership, played a crucial role in establishing the reputation of these establishments as preferred culinary destinations.
“As a chef, my mission is to turn ordinary ingredients into extraordinary experiences, one dish at a time. Food is the universal language of joy, and I’m here to create symphonies. I am excited to lead such a vibrant team, and this looks like the most exciting chapter so far,” he shared.
The appointment of Chef Caramella heralds an exciting new era for Grand Hyatt Gurgaon. His commitment to the culinary craft, paired with his innovative approach, assures an elevation of our culinary offerings to unprecedented levels. The team is confident that Chef Caramella’s presence will enrich guests’ gastronomic journeys, ensuring their dining experiences are genuinely exceptional.
Step away from your kitchen duties for a while and venture out to discover the culinary wonders that Mumbai has to offer during this christmas season. There’s no better holiday celebration than indulging in a journey of flavourful exploration— a delectable spread of festive fare and a joyous fusion of cultures. The city is once again coming alive with meticulously curated menus, each a testament to the creativity of the renowned chefs who aim to elevate your dining experience.
In this season of merriment, why not let the pros handle the cooking? Treat yourself to an exquisite blend of traditional and innovative dishes that tell stories of passion, craftsmanship, and the true spirit of the festive season.
Enjoy a Christmas Menu at Asilo, Lower Parel
With a panoramic view of the City, Asilo offers an unparalleled dining experience right in the middle of the grandeur of city lights and the sea.
Culinary Highlights:
Appetisers: A tantalising array of appetisers, including Spicy Caramelized Chicken Skewers, Crispy Spicy Avocado Maki with Truffle, Steamed Tofu, Mushroom & Vegetable Dumplings in Chilli Oil, and Harissa Chicken with Sumac Slaw & Tahini Drizzle.
Main Course: Delight your palate with mouth-watering dishes like Jerk Chicken with Smoke-Roasted Vegetables & Goat Cheese Mash, and Spaghetti Aglio Olio.
Desserts: Conclude your festive feast with Dark & Rich Christmas Plum Pudding with Treacles & Vanilla Ice Cream, and Sticky Toffee Gateaux with Toffee Sauce & Vanilla Ice Cream.
Cherish culinary excellence while enjoying a unique view of the cityscape.
A special Winter Cocktail menu at Nksha, Churchgate
Spend an evening in the heart of Bombay glamour, surrounded by influences from the 1950s Art Deco era, and blending old world charm with contemporary inspirations with a premium North Indian and finest winter cocktail menu.
The cocktail menu unfolds narratives of ingredients, craftsmanship, and sentiments, crafting a cherished experience to embrace the festive season. From the heartwarming aromas of Foothill to the grandeur of Hawa Mahal, the nostalgia of Churchgate, the vibrant vibes of Khari Baoli, and the elegance of Volga – these are just a glimpse of the culinary treasures waiting to be discovered.
Christmas Special Schedule at Novotel, Mumbai International Airport
Novotel promises the longest Christmas Extravaganza, offering an extensive array of feasts and festive celebrations for a truly immersive experience.
Christmas Eve Brunch: Kickstart your festive celebrations with a lavish Christmas Eve Brunch at Food Exchange, offering an array of delectable dishes to tantalise your taste buds.
Christmas Eve Dinner: Experience a sumptuous feast at Food Exchange with an evening filled with culinary delights that will make your Christmas Eve truly memorable.
Christmas Day Brunch: Continue the festivities with a delightful Christmas Day Brunch, featuring a spread of indulgent treats to savour with family and friends.
New Year’s Celebration: Welcome the New Year in style with grand celebrations at Food Exchange and the rooftop bar, 190 Asml. The hotel is set to create a vibrant atmosphere to bid farewell to the old year and usher in the new one.
Christmas by the Beach at Novotel, Juhu Beach
The festivities at Novotel Juhu Beach blend the warmth of Christmas traditions with the coastal vibes of Juhu Beach, offering a unique celebration for guests.
Tree Lighting Ceremony, 15th Dec: Embark on the festive journey with a captivating tree lighting ceremony on the 15th, setting the stage for a joyous evening by the beach.
Christmas Dinner: Indulge in a memorable dinner, featuring a culinary extravaganza that captures the spirit of the season with a touch of coastal charm.
New Year’s Celebration: Bid farewell to the year with an extravagant New Year’s Celebration at Novotel Juhu Beach, creating unforgettable moments to welcome the coming year.
As the curtain for this year is coming to fall, make sure to bid farewell on a high note! Here’s to a new year filled with many more delightful surprises and the promise of a continued gastronomic adventure in the vibrant city.
The Bengaluru-based D2C brand will leverage the recently acquired capital to enhance its talent and technology infrastructure, while also formulating an offline retail strategy.
Following this investment, Ashish Wadhwani, the co-founder and managing partner of IvyCap, will become a member of the board at Snitch.
Established in January 2019 by Siddharth R Dungarwal, Snitch initially began as an offline retail brand. However, a year later, the advent of Covid-19 reshaped the landscape of physical retail, prompting the brand to transition towards online sales.
“During the pandemic, we were stuck with extra inventory. It was a key reason why we moved online. We initially thought of leveraging marketplaces, but we also wanted our brand to gain recognition. That’s why we decided to launch our website,” said Dungarwal.
The majority of Snitch’s sales stem from its website and app, supported by an expanding offline footprint and collaborations with prominent online marketplaces.
Tuck Lye Koh, founding partner, SWC Global said, “Our decision to invest in Snitch is rooted in our belief in their visionary approach to fast fashion.”
Snitch claims to have achieved a turnover of more than INR 100 Crores in FY23 and aims to surpass expectations with over 100% growth in FY24. The brand is also set to expand further by opening more than 100 offline stores across India in the next 4-5 years.
As per a report, the D2C market in India is projected to achieve a valuation of $100 billion by 2025. Among the various sub-segments within the industry, apparel and footwear are anticipated to represent approximately 77.6% of the online clothing market by the same year.
Within the apparel industry, the men’s apparel sector is witnessing significant growth. As outlined in a recent Market Research Future (MRFR) report, the global menswear market is projected to grow from $610.75 billion in 2023 to $988.24 billion by 2032. This represents a compound annual growth rate (CAGR) of 6.20% during the period from 2023 to 2032.
Recently, the male demographic in India has shown a growing emphasis on both quality and style, leading to a shift in purchasing preferences towards high-quality clothing. Additionally, the surge in online shopping has contributed to a notable increase in the number of online shoppers in the country.
Among the notable players in the segment are XYXX, DaMENSCH, Chromozome, BlissClub, Freecultr, Bombay Shirt Company, and others.
In February 2023, the founders showcased the brand on Shark Tank and successfully secured an all-sharks deal, raising INR 1.5 Crores from angel investors like Aman Gupta (boAt), Namita Thapar (Emcure Pharmaceuticals), Anupam Mittal (Shaadi.com), Peyush Bansal (Lenskart), and Vineeta Singh (SUGAR).
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