Go back to the enewsletter Australian developer P

first_imgGo back to the enewsletterAustralian developer, Perri Projects, has appointed hotel owner-operator Ovolo Hotels as hotel manager for its $50 million South Melbourne project, to be known as Ovolo South Melbourne and expected to open in 2020.Located at 183–199 Moray Street, the 100-room, upper-upscale, six-storey designer hotel will bring Ovolo’s signature ‘effortless living’ ethos to one of Melbourne’s most iconic inner-city suburbs. Ovolo’s appointment represents a significant milestone for the project, which has received planning approval, with construction anticipated to commence in the third quarter of 2019.David Scalzo, Managing Director of Perri Projects, said Ovolo’s international track record for delivering innovative, design-led destination hotel concepts that emphasise lifestyle aligned with Perri Projects’ vision for the site.“We are delighted to partner with Ovolo to realise our original vision for this site as a mixed-use lifestyle precinct featuring destination bars and restaurants, as well as leisure, event and function facilities,” he said.Owning and operating 10 hotels across Australia and Hong Kong, Ovolo’s appointment as hotel manager represents the independent hospitality group’s first solely hotel-management agreement.Girish Jhunjhnuwala, Ovolo CEO and Founder, said Ovolo in South Melbourne represented a new phase of growth for the company, made possible through a shared vision with Perri Projects.“The Hotel Management Agreement with Perri Projects represents a natural evolution for our business as we continually look to expand our offering in new markets,” he said. “While we each bring our respective expertise in property development and hospitality management to this project, this partnership was forged through our mutual affinity for delivering truly unique projects and a shared vision for the South Melbourne site.”Dave Baswal, COO & CFO of Ovolo Australia, said he was confident Ovolo’s offering in South Melbourne would be well received by the growing pool of higher-end established housing and major commercial office buildings.Artist renderings of Ovolo South Melbourne supplied.Go back to the enewsletterlast_img read more

Germanys DMK announces deal for baby food producer Alete

first_imgGermany’s DMK announces deal for baby food producer AletePosted By: Alex Clereon: April 01, 2019In: Business, Dairy, Food, Industries, Mergers & AcquisitionsPrintEmailGerman milk processor Deutsches Milchkontor (DMK) has announced a deal to acquire baby food producer Alete – part of what it calls a “continued restructuring” that has seen the business protect itself against falling consumption of dairy.The acquisition, which has already completed, will see DMK inherit Alete’s flagship brand of baby food – as well as the contract manufacturer German Babyfood, which operates a baby food factory in Bavaria and owns the Milasan brand of baby food products.DMK said that “dairy concern continues to restructure its product range”, suggesting that other non-dairy acquisitions might be in the pipeline. The company’s baby food business is strategically important to DMK; it already has brands including Humana and Milram, and in February opened a high-tech baby food facility in Strückhausen, northern Germany for its Humana brand following investment of approximately €145 million.With its latest acquisition, DMK is “opening up additional segments” as part of its baby food strategy, the company said.Stefan Eckert, COO of DMK’s baby food business, explained: “We expect there to be more profitable growth for the baby food market in the coming years. With the acquisition of Alete and Milasan, we are making a sensible addition to our product range whilst also significantly expanding our sales and distribution radius.“Alete is a well-regarded and traditional baby food brand in Germany. It enjoys a high level of consumer confidence, especially in the traditional complementary baby food sector, which is a highly dynamic and attractive sector with sustained growth rates. Together with our baby milk brand Humana, we will be able to offer parents two brands with an age-specific range in future.”DMK is not acquiring the “production element”, but said that the range of baby food made by Alete and Milasan would continue to be produced at an existing plant in Bavaria. Around 25 employees working in sales and administration at a site in Bad Homburg will move forward under the DMK Group.Share with your network: Tags: Aletebaby foodDMKGermanymilklast_img read more