Finances and Deals: Page 2
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Retrieved from Dole.
Dole calls off sale of fresh vegetables division amid DOJ opposition
The Justice Department said the $293 million cash deal with Fresh Express, announced in January 2023, would have reduced competition and led to higher prices.
By Christopher Doering • March 28, 2024 -
Courtesy of Corona Hard Seltzer
Constellation wins hard seltzer battle over AB InBev
An appeals court affirmed a 2023 decision that ruled Constellation did not infringe on the trademarks of AB InBev’s Grupo Modelo by selling seltzer products under that brand.
By Chris Casey • March 27, 2024 -
Courtesy of BuzzBallz, LLC
Fireball maker Sazerac acquires RTD cocktail brand BuzzBallz
Demand for mixed drinks is driving beverage industry heavyweights to elevate their presence in the category through M&A and new product launches.
By Chris Casey • March 25, 2024 -
Courtesy of General Mills
General Mills still dealing with elevated operating costs, CEO says
The Cheerios maker reported higher-than-normal inflation four years after the pandemic began. Input costs have increased by 32% during this time, the top executive said.
By Chris Casey • March 22, 2024 -
Permission granted by Joshua Woods
Bronx-born food collective goes from trendy dinner parties to Target shelves
Ghetto Gastro fuses community and culture to create low-cost plant-based packaged goods.
By Elizabeth Flood • March 19, 2024 -
etiennevoss via Getty Images
From Coke to Hershey, CPGs search for their sweet spot in pack size
Consumers are increasingly interested in smaller portion sizes, as well as value-priced multipacks, for their snacks and soda. These changing sizes can have implications from production to recycling.
By Shefali Kapadia • March 18, 2024 -
Scott Olson via Getty Images
Marlboro maker Altria sells $2B stake in AB InBev
The sale is the latest headache for the alcohol manufacturer as it attempts to shake off a drop in beer consumption and fallout from a controversial 2023 marketing campaign with a transgender influencer.
By Chris Casey • March 15, 2024 -
Retrieved from Sovos Brands.
Campbell Soup a ‘compelling story’ after closing $2.7B Sovos deal
The deal, which closed Tuesday, broadens the CPG giant’s footprint in premium offerings and complements its core meals and beverage business which includes its namesake soup and V8.
By Christopher Doering • March 12, 2024 -
Retrieved from Liquid Death.
Liquid Death valued at $1.4B after latest funding round
The beverage maker, which is reportedly looking to go public this year, said the $67 million in new financing will be used to grow distribution and accelerate product innovation.
By Christopher Doering • March 11, 2024 -
Chris Casey/Food Dive
WK Kellogg focusing on cereal before turning to M&A, CEO says
Five months after being spun off, Gary Pilnick is upbeat that the Rice Krispies maker can modernize its business and improve its product offerings that for years were being “deprioritized” in favor of snacks.
By Christopher Doering • March 11, 2024 -
Courtesy of Clif Bar
Food execs signal a strong appetite for M&A in 2024
As Mondelēz, General Mills and other CPG firms scour the market for deals, high asking prices could remain a sticking point preventing some purchases from taking place.
By Christopher Doering • March 4, 2024 -
Permission granted by Revo Foods
To farm or fabricate? 3D printing’s role in the food industry
As food production startups begin commercializing 3D-printed seafood, some experts question the viability of the technology in the broader market.
By Megan Ruggles • March 4, 2024 -
Joe Raedle via Getty Images
Anheuser-Busch avoids strike in deal with union
Though tentative, the agreement would include wage increases and improved benefits to the 5,000 manufacturing workers represented by the Teamsters.
By Chris Casey • Feb. 29, 2024 -
(Drew Angerer/Staff) via Getty Images
Beyond Meat plans steep cost cuts as U.S. demand remains weak
While the company had lowered prices in the past to entice budget-conscious shoppers, an increase in prices on some of its product lines is planned to help restore margins.
By Elizabeth Flood • Feb. 28, 2024 -
Courtesy of Waterdrop
Why Waterdrop’s CEO sees hydration beverages overtaking soft drinks
Martin Donald Murray said the viral water bottle craze will continue to benefit the company’s “microdrink” given its better-for-you and sustainability benefits.
By Chris Casey • Feb. 27, 2024 -
Permission granted by DayDayCook
Q&AFrom hostess to CEO, how Norma Chu is making an Asian food empire
The DayDayCook founder and CEO is spearheading an aggressive growth strategy to become “the future General Mills for Asian food.”
By Judy McGuire • Feb. 26, 2024 -
Christopher Doering/Food Dive
Molson Coors brewery workers strike in Texas
The local Teamsters chapter in Fort Worth is demanding pay raises to account for inflation, as another potential picket line looms over AB InBev.
By Chris Casey • Feb. 21, 2024 -
Justin Sullivan via Getty Images
Molson Coors bullish on beer as AB InBev cedes market share
Core brands in the category like Coors Light have seen growth over the last nine months, a trend the company’s CEO does not see going away.
By Chris Casey • Feb. 14, 2024 -
Permission granted by Whole Earth Brands
Equal owner Whole Earth Brands to go private in sweetened takeover bid
The company, which has been exploring strategic alternatives, agreed to a $4.875 per share offer by an affiliate of Sababa Holdings FREE. The deal is expected to close in the second quarter.
By Christopher Doering • Feb. 13, 2024 -
Courtesy of Gin & Juice By Dre and Snoop
Snoop Dogg, Dr. Dre bring hit ‘Gin & Juice’ to the beverage space
Thirty years after the two unleashed the namesake song to the public, the rappers have partnered on a RTD cocktail offering.
By Chris Casey • Feb. 13, 2024 -
Courtesy of Kellanova
Kellanova to close US frozen foods plant, UK factory
The closures are part of the CPG giant’s cost-cutting plan, which it accelerated after spinning off its cereal business in 2023.
By Chris Casey • Feb. 9, 2024 -
Permission granted by Equinom
Louis Dreyfus building new pea protein facility
An increasing shift to plant-based protein, especially for dairy products, is driving demand for the ingredient.
By Rose Palazzolo • Feb. 8, 2024 -
Courtesy of Cometeer
Seth Rogen’s lifestyle brand partners with frozen coffee maker
The collaboration is the first product in the food and beverage space from the actor’s brand which targets cannabis consumers.
By Chris Casey • Feb. 6, 2024 -
Justin Sullivan via Getty Images
Surging cocoa prices could lead to Valentine’s Day sticker shock
Supply remains scarce due to heavy rains and the spread of black pod disease in West Africa, according to a recent CoBank report.
By Sarah Zimmerman • Feb. 6, 2024 -
Courtesy of White Claw
Behind White Claw’s big nonalcoholic seltzer bet
The hard seltzer pioneer is targeting drinking-aged consumers who are looking to imbibe less or stop altogether, a top executive said.
By Chris Casey • Feb. 6, 2024
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