Tag: million

Olam Food Ingredients heats up Spices portfolio with US$108.5 million acquisition of a leading US chile pepper business

Acquisition is on-trend to support rising consumer demand for Mexican flavors


Olam Food Ingredients (“OFI”), the new operating group created after the reorganization within Olam International Limited (“OIL”) earlier this year, is expanding its Spices portfolio (“Olam Spices”) to meet the rising demand for bold, authentic flavors with the acquisition of one of the world’s leading suppliers of premium green chiles, jalapeños and enchilada sauces.

OIL, through its subsidiary, Olam Americas, Inc. has agreed to acquire the US-based chile pepper business (“CPB”) of major maker of condiments and sauces, Mizkan America,

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Virtual Kitchen led by ex-Uber execs raises $20 million from Founders

Nearly seven months into the coronavirus pandemic, Uber has largely turned into a food delivery company. Former Uber employees, meanwhile, are finding another way to benefit from the dramatic change in the restaurant industry.

Virtual Kitchen, a start-up founded by two ex-Uber executives, has just raised $20 million of fresh capital, according to a filing on Tuesday with the SEC. The company provides technology to set up commercial kitchens designed for delivery, allowing restaurants to get food to customers without the expense and hassle of running a dining room or storefront — a model that’s especially attractive in the age

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Almost 30 million Americans didn’t have enough food to eat, according to weekly Census Bureau survey

“It would help out on the groceries,” said Webb, who lives in Benson, North Carolina. “Every once in a while there would be some instant mashed potatoes.”

Then the coroanvirus hit, and safety precautions forced the food pantry to shutter its doors.

Webb, 71, and her husband are still eating, though “it might not be fancy meals like people would want,” she said. “But we’re not going to go hungry.”

But she’s still stretching meals out as much as she can. A big batch of spaghetti, for example, will last them anywhere from 2 to 4 meals, Webb says.


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Kobe: Meet the 1-year-old chef with 1.3 million followers on Instagram

“Chef Kobe” likes “to cook, eat & explore in the kitchen,” his bio says.

Videos show him helping to prepare recipes ranging from mac and cheese to Turkish menemen, with a fair bit of tasting and gurgling “commentary” along the way.

His mother, Ashley Wian, told CNN that the videos began as a way of sharing her son’s excitement in the kitchen with friends and family.

“Cooking is just one of many practical things that Kobe does at home. He has so much fun doing it and such a big, animated personality, I decided to record it to share … Read More

Karma Kitchen raises $318 million for rentable kitchens

  • Karma Kitchen, a UK startup that provides rentable kitchen space, has raised £252 million ($318 million) as the pandemic upends hospitality.
  • The ubiquity of delivery apps like Deliveroo and Uber Eats is creating knock-on investment opportunities in startups providing such rentable kitchen space, or “cloud kitchens.”
  • Karma Kitchen wants to become Europe’s biggest kitchen space provider by opening 53 new sites across the UK and Europe in the next five years.
  • Karma Kitchen has benefited from the explosion in food delivery through the pandemic, with food for delivery accounting for 85% of its business, up from around 50% before COVID-19.
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