Keurig Dr Pepper has named Rafael Oliveira chief executive officer of its coffee operating unit as it moves to acquire Dutch coffee and tea company JDE Peet's, Reuters reported. The all-cash $18 billion takeover of JDE Peet's by Keurig, announced in August last year, is aimed at helping the company compete with industry leader Nestle and tackle high commodity costs. The combined entity is expected to be split into two publicly traded U.S. companies — one for coffee operations and one for beverage businesses.
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Amid challenging conditions in the local food industry, Utrecht-based startup Lokalist has been declared bankrupt, ceasing its operations after a five-year journey, Cointurk Finance reported. Known for its innovative approach in directly linking farmers and producers to consumers, Lokalist had initially gained traction for promoting a shorter food supply chain. Despite its efforts to create a fairer system for farmers and a closer connection to customers, the company faced insurmountable hurdles, culminating in Tuesday’s bankruptcy declaration by the Midden Nederland District Court.