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Denholm Seafoods boosts exports with eight-figure funding package

Afish processing business in the north of Scotland has received an eight-figure funding package from HSBC UK, backed by UK Export Finance (UKEF), as it sets its sights on new international markets.

Peterhead-based Denholm Seafoods, which champions Scotland’s high quality, sustainable seafood, will use the additional finance to support its ambitious overseas growth plans.

The pelagic fish business, which processes herring and mackerel caught from sustainable fisheries, is looking to expand in European and Asian markets as it promotes the quality of its Scottish origin fish.

The funding package was backed by a £15 million General Export Facility (GEF) backed by UKEF, the government’s export credit agency. The scheme, which was launched last December, has already provided over £120 million for businesses across the UK. It has made the UK government’s support more accessible, allowing Denholm and HSBC UK to take a longer-term view and underpins the management team’s growth aspirations.

Allan Stephen, Director at Denholm Seafoods, said: “Our growth plans are ambitious and, by utilising this funding, we’re excited to enter new markets and grow in existing ones. It is the quality of our product, coupled with this additional funding that will afford us this opportunity.

“As we invest in the future of Denholm Seafoods, we intend to progress the sustainability of our operations, by reducing our environmental impact as we drive the growth of our business forward.”

Denholm Seafoods processes pelagic fish caught from sustainable fisheries by its local fishing partners in the rich waters of the North East Atlantic. Its wide range of high quality pelagic fish products include mackerel, herring and herring roe, which are delivered fresh or frozen to customers in the UK and worldwide. Denholm Seafoods is part of the Denholm Group.

Mike Freer MP, Minister for Exports, said: “Scottish seafood is renowned around the world for its quality and focus on sustainability – and I’m delighted that UKEF is helping Denholm grow and sell more to the world.”

Denholm Seafoods currently exports 80% of its product while the remaining 20% supplies major retailers in the UK market.

Denholm Seafoods is part of the Denholm Group which operates in four sectors: shipping, logistics, seafoods and industrial services. The group was originally founded as a ship agent and factor by James Denholm in 1866, who was joined in the business by his brother John in 1869. Today, the fifth generation family business is still owned by John’s descendants and employs over 1,000 people.

Molson Coors and Coca-Cola launch new-brand inspired by Simply® Juices alcohol

Molson Coors Beverage Company has expanded its exclusive agreement with The Coca-Cola Company to develop and commercialise a brand of full-flavour alcohol beverages inspired by the US juice brand, Simply®.

“Over the past two years, we’ve seen success by shaking up existing categories with new brands that have clear, compelling points of difference, like Coca-Cola's Topo Chico® Hard Seltzer, Vizzy Hard Seltzer and ZOA Energy Drink,” said Michelle St. Jacques, Molson Coors’ Chief Marketing Officer. “Now, we have a huge opportunity to leverage the power of Simply® – a brand known for real juice and big flavour – to disrupt the full-flavour alcohol segment in a way that’s never been done before.”

This summer, Molson Coors will start by launching the Simply Spiked Lemonade™ variety pack, inspired by some of Simply®’s best-selling non-alcoholic products, including Strawberry Lemonade, Watermelon Lemonade, Blueberry Lemonade and, of course, Signature Lemonade.

As The Coca-Cola Company’s second-largest US brand for net revenue after Coca-Cola, Simply® is a $1 billion+ and growing brand.

“The Coca-Cola Company and Molson Coors have a thriving relationship in North America. The proof is in the success of Topo Chico Hard Seltzer’s national expansion and the introduction of Topo Chico Ranch Water Hard Seltzer,” said Dan White, Chief of New Revenue Streams, Coca-Cola North America Operating Unit.

“With this momentum, we are excited to expand our relationship with products inspired by another one of our most valuable brands: Simply®. We believe people will be excited to try this delicious beverage when it arrives on shelves later this year.”

Simply Spiked Lemonade will be sold in slim-can 12 packs as a variety pack, and 24oz standalone cans of select flavours.

Simply Spiked Lemonade and the national expansion of Topo Chico Hard Seltzer mark the latest initiatives to aggressively grow Molson Coors’ above premium portfolio as part of the company’s revitalisation plan.

Molson Coors Beverage Company will produce, distribute and market Simply Spiked Lemonade as part of an agreement with The Coca-Cola Company.

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Glanbia Ireland launches €18 million annual Sustainability Action Payment for family farms

Glanbia Ireland, Ireland’s largest dairy processor, has launched an €18 million annual Sustainability Action Payment as part of a three-year programme to assist the company’s 5,000 milk suppliers in reducing their carbon footprint, enhancing water quality and biodiversity and improving air quality and soil health in line with Glanbia Ireland’s sustainability strategy, Living Proof.

As part of this initiative, dairy suppliers will receive 0.5 cent per litre (cpl) (including VAT) through delivering specific sustainability actions. This will equate to almost €3,000 in 2022 for the average supplier. Across the lifetime of this three-year programme, over €54 million in total will be made available to family farms as they continue to adopt a range of actions.

The measures are closely aligned with the climate action measures identified in Teagasc’s emissions reduction Marginal Abatement Cost Curve (MACC) climate plan.

Glanbia Co-op Chairman John Murphy said: “Irish farmers are renowned for producing high quality dairy products with world leading natural credentials. Our farmers are proud of their family farms and want to protect them for the next generation.

“We all have a role to play in climate action, water and biodiversity protection and air quality enhancement. It is important that our family farms are assisted as they continue to enhance the environmental and economic sustainability of their farms.

“This initiative is designed to reward suppliers for adopting a series of measures identified as key to delivering on our comprehensive sustainability strategy, Living Proof. As part of this initiative, there is a strong framework of measures for farmers to implement with verifiable proof-points.”

As part of Living Proof, Glanbia Ireland, along with its family farms, has pledged to deliver a 30% reduction in greenhouse gas (GHG) emissions associated with each litre of milk produced by 2030 and has signed up to the internationally-recognised ScienceBased Targets initiative (SBTi). All of Glanbia Ireland’s dairy suppliers are accredited to the Bord Bia Sustainable Dairy Assurance Scheme (SDAS).

The Sustainability Action Payment will be made to all suppliers that deliver any seven sustainability actions from a total of 16 options.

These include: reducing carbon emissions by utilising multispecies swards and clover; measuring grass growth: improving the herd Economic Breeding Index (EBI) to deliver lower GHG emissions; milk recording and opting for FarmGen renewable energy generation.

Other options include: improving air quality through use of Low Emissions Slurry Spreading (LESS) equipment and the use of Protected Urea; supporting biodiversity by planting additional native trees and increasing hedgerows; protecting soil health and water quality through nutrient management planning; delivering ASSAP water quality improvement plans and water protection measures; supporting animal health and welfare by herd disease screening; improving udder health and participating in the innovative Twenty20 Beef Club.

Glanbia Ireland Chief Executive Jim Bergin said: “We believe that by working together, through support and education, we can continue to adopt changes in practices that deliver real environmental impact.

“As an organisation, we are firmly committed to working with our farmers to implement proven technologies and practices that will benefit the environmental performance of our suppliers’ family farms, as set out in our Living Proof strategy. We will continue to actively seek out leading edge technologies to further support our family farms in their endeavours.”

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The latest news from across the global food and drink sector

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Kerry announces significant strategic biotechnology acquisitions

Global taste and nutrition company Kerry Group has announced two major biotechnology acquisitions. In lateFebruary, the company reached agreement to acquire leading German biotechnology company c-LEcta. This follows the acquisition of Mexican-based enzyme manufacturer Enmex in December 2021. c-LEcta is a leading biotechnology innovation company specialising in precision fermentation, optimised bio-processing and bio-transformation for the creation of high-value targeted enzymes and ingredients. Based in Leipzig and employing over 100 people, c-LEcta has established itself as a leading innovator in disruptive new sciences for the pharmaceutical market, with a strong pipeline of functional bioactives across food, beverage and other consumer markets.

This strategically compelling combination will accelerate Kerry’s innovation capabilities in enzyme engineering, fermentation and bio-process development. Kerry’s broad market reach across food and pharma markets, combined with its deep enzyme applications expertise and integrated ingredient technology design, will enable and accelerate the growth potential of c-LEcta’s strong portfolio and technology capabilities.

Dr Marc Struhalla, founder and CEO of c-LEcta, commented: “We are very happy to join Kerry Group and their global presence in the food and pharmaceutical sectors gives us access to additional markets. At the same time, their expertise in ingredient technologies and applications is a perfect fit as we continue to drive our growth potential in the future. We will continue to collaborate with our existing industry partners and will of course continue to produce and distribute our products for our valued customers.”

This acquisition will further support Kerry’s commitment to invest in the development of innovative sustainable technologies, which the company said will be at the heart of future sustainable food and health systems.

Commenting on the agreement with c-LEcta, Dr Albert McQuaid, Chief Science and Technology Officer of Kerry, said: “The food and pharmaceutical industries are on the cusp of a new wave of innovation where new developments in biotechnology, synthetic biology and precision fermentation are radically transforming these sectors.

“Our broad market reach across food and pharma markets, combined with our deep enzyme applications expertise and integrated ingredient technology design, will enable and accelerate the growth potential of c-LEcta’s strong portfolio and technology capabilities while also supporting us in the creation of tastier, more sustainable and healthier products.”

Enmex is a well-established enzyme manufacturer based in Mexico, supplying multiple bio-process solutions for food, beverage and animal nutrition markets. With a long history of partnering with global customers, Enmex has a complementary enzyme portfolio and a strong manufacturing infrastructure, which will extend Kerry’s fermentation and enzyme manufacturing capabilities into Latin America.

Kerry is the world’s leading taste and nutrition partner for the food, beverage and pharmaceutical markets, with its broad range of ingredient solutions reaching over one billion consumers around the world.

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Leading Egyptian restaurateur launches new tech-enabled logistics platform – OneOrder

OneOrder, the new logistics company aimed at solving Egyptian restaurants’ supply chain inefficiencies, has announced its launch and successful completion of a $1 million fundraising campaign.

The fundraise was led by A15, the leading MENA venture capital firm, and renowned as one of the most prominent backers of early-stage start-ups in the region.

OneOrder is the first company of its kind in Egypt; a logistics company addressing the major inefficiencies faced by Egypt’s restaurants when sourcing supplies. It is the creation of leading Egyptian restaurateur Tamer Amer, the founder of Fuego Sushi and Longhorn Texas BBQ – two of Egypt’s most successful restaurant chains.

OneOrder is creating a platform to address the significant structural problem faced by Egyptian restaurants – interacting on a regular basis with a number of small, fragmented suppliers and vendors from whom they source their meat, vegetables and equipment.

According to Mr Amer, this suboptimal supply chain structure causes inconsistent and non-transparent pricing, unreliable quality which, in turn, gets passed onto restaurant customers, and irregular delivery timing, with supplies often late, limiting restaurants’ daily menu offerings.

OneOrder’s platform means Egyptian restaurants can buy all their needs from one application, with reliable quality, prices and timing.

“We are delighted to announce our launch and fundraise, and I thank A15 for their outstanding support,” said Mr Amer. “Given Egypt’s flourishing restaurant industry and the challenges it faces caused by a fragmented supply chain, OneOrder offers a much needed technology-enabled solution at the perfect time. My experience in the food and beverage industry means I know what restaurant owners need; it is a reliable, timely supply of quality goods, at a consistent price – without the stress of managing various suppliers on a daily basis.

OneOrder’s market opportunity is significant. Egypt has over 45,000 registered restaurants, but as many as a quarter of a million unregistered – all working and consuming supplies. In 2019, the United States Department of Agriculture estimated the overall F&B/hospitality market in Egypt to be $13 billion, with OneOrder expecting that figure to have increased substantially since then.

Market drivers are also compelling. The latest research by Fitch Ratings, the global ratings agency, forecasts 5.3% GDP growth in Egypt for 2021-2023, driven by strong private consumption and increasing tourism. Egypt is also building new cities such as New Alamein, with hotels and commerce expanding across the country – all of which is favourable for the F&B sector.

“We believe restaurants should be focused on delivering a highquality experience and service to their customers without having to worry about sourcing and procurement,” added Mr Amer. “We are the platform to deliver that. I’m very excited about the future as our market opportunity is huge. Egypt and the wider region are booming economically, and the food and beverage sector is only growing larger.”

Karim Beshara, General Partner at A15, said: “We are excited to partner with Tamer to solve one of the main challenges the food and beverages industry faces in the MENA region. By leveraging Tamer’s extensive experience as a successful restauranteur and A15’s history of building scalable technology platforms, we will aim to provide restaurants in the region with reliable, convenient and timely supplies that are consistently priced.”

There are similar restaurant supply chain inefficiencies in other countries in MENA and OneOrder aspires to, over time, expand its proposition geographically across the region.