Finances and Deals: Page
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Courtesy of Hormel Foods
ColumnLeftovers: Cinnamon Toast Crunch goes hog wild for bacon | Krispy Kreme bonds with Barbie
Hormel’s Black Label Bacon is partnering with the popular cereal to create the best of sweet and salty, while Mattel's iconic doll is moving into doughnuts.
By Food Dive Staff • Sept. 13, 2024 -
Courtesy of T. Hasegawa
T Hasegawa broadens flavor portfolio with Abelei acquisition
The purchase will add more citrus and fruit options to the company’s offerings serving the food, beverage and nutrition industries.
By Elizabeth Flood • Sept. 12, 2024 -
Trendline
Mergers and acquisitions
Declining sales and slowing consumption have more companies divesting brands, opening the door for smaller players and private equity firms to expand their portfolios.
By Food Dive staff -
David McNew via Getty Images
Avocado shortages generate record profits
Mission Produce and Limoneira are seeing strong consumer demand even in the face of higher grocery store prices.
By Sarah Zimmerman • Sept. 12, 2024 -
Getty Images
General Mills to sell North American yogurt business for $2.1B
The divestiture, which includes brands such as Yoplait and Go-Gurt, will allow the food giant to focus on faster-growing areas including snacks and pet food.
By Christopher Doering • Sept. 12, 2024 -
Christopher Doering/Food Dive
Campbell Soup CEO downplays possibility of splitting food giant
Mark Clouse expressed confidence in the company’s existing business and said a potential separation of its snacks business from its meals and beverages wasn’t imminent.
By Christopher Doering • Sept. 11, 2024 -
Permission granted by Klimon
Dairy-free frozen dessert Klimon expands reach
The plant-based ice cream, which claims to have the same texture and creaminess as its traditional counterpart, has garnered widespread consumer support since its launch two years ago.
By Elizabeth Flood • Sept. 10, 2024 -
Courtesy of Planted
Food tech company Planted to launch ‘first of its kind’ fermented whole cut steak
The plant-based meat is made with soy, rapeseed oil, beans, rice and a proprietary blend of microbial cultures.
By Elizabeth Flood • Sept. 9, 2024 -
Courtesy of Hershey
Hershey launches Shaq-A-Licious XL Gummies
Rolled out in partnership with basketball star Shaquille O’Neal, the new snack taps into the growing popularity of the soft candy, particularly among younger consumers.
By Christopher Doering • Sept. 9, 2024 -
Retrieved from Black Rifle Coffee.
Keurig Dr Pepper inks sales and distribution deal for Black Rifle Energy Drinks
The new beverage line is expected to launch in the fourth quarter and be available nationwide in early 2025. Terms of the deal were not disclosed.
By Christopher Doering • Sept. 6, 2024 -
Courtesy of Hormel
Hormel challenged by weak whole turkey prices
Despite headwinds in the commodity market, the food processor saw higher demand for ground turkey and other branded products as more consumers make meals at home.
By Nathan Owens • Sept. 6, 2024 -
Courtesy of Beyond Meat
Beyond Meat unveils plans for new steak
CEO Ethan Brown said the company will likely introduce the product in collaboration with a “healthier” restaurant.
By Elizabeth Flood • Sept. 6, 2024 -
Retrieved from Parm Crisp.
Hain Celestial sells ParmCrisps to Pop Secret owner
The divestiture of the cheese crisp and snack mix brand to Our Home allows Hain to focus its portfolio and streamline its supply chain.
By Christopher Doering • Sept. 3, 2024 -
Hryshchyshen Serhii via Shutterstock
Are shoppers’ concerns around food inflation starting to ease?
While consumers feel they have “more or less control” over their grocery finances, they are still worried about rising food costs, new FMI research found.
By Peyton Bigora • Aug. 29, 2024 -
The image by Tony Webster is licensed under CC BY-SA 2.0
Smithfield spins off Europe business ahead of potential US listing
The pork producer said the move would further accelerate “unique growth opportunities" in both areas.
By Nathan Owens • Aug. 28, 2024 -
Permission granted by The Better Meat Co.
The Better Meat Co. awarded $1.4M grant from US Defense Department
The California-based company plans to use the funding to produce large volumes of its Rhiza mycoprotein.
By Elizabeth Flood • Aug. 28, 2024 -
Retrieved from Campbell Soup.
Campbell Soup sells Pop Secret for undisclosed amount
The divestiture to Popchips maker Our Home will allow the CPG giant to better focus its snacking portfolio and generate “accelerated growth.”
By Christopher Doering • Aug. 27, 2024 -
Courtesy of David
RXBar founder ‘betting everything on protein’ with new venture
Peter Rahal's latest brand David raised $10 million in capital and will not rely on nutrition fads to grow in the category.
By Chris Casey • Aug. 26, 2024 -
Courtesy of Kellanova
From candy giant to snacking powerhouse: What’s behind Mars’ $36B Kellanova acquisition
The purchase of the Pringles maker provides more opportunities to respond to consumer preferences and compete against PepsiCo and Mondelēz.
By Christopher Doering • Aug. 26, 2024 -
Justin Sullivan via Getty Images
Nestlé names company veteran Laurent Freixe as CEO
He will replace Mark Schneider, who is resigning after eight years in the role. The change comes as the Lean Cuisine maker struggles with cash-strapped customers cutting back on spending.
By Christopher Doering • Aug. 22, 2024 -
Joe Raedle via Getty Images
AB InBev to shutter Anheuser-Busch distribution facility
The brewer’s closure of the Massachusetts plant will impact 193 jobs. It comes amid a national decline in beer volumes.
By Chris Casey • Aug. 21, 2024 -
Scott Olson via Getty Images
Pilgrim’s Pride to pay $100M in largest protein antitrust settlement
The poultry processor, along with rivals including Tyson and Perdue Farms, was accused of conspiring to suppress the pay of chicken farmers.
By Chris Casey • Aug. 21, 2024 -
Getty Images
Beyond Meat’s financial woes magnified through late payments
Despite optimistic comments from CEO Ethan Brown, the company is overdue on a third of its payments to vendors in 2024.
By Elizabeth Flood • Aug. 21, 2024 -
Grant Baldwin via Getty Images
Kamala Harris proposes food ‘price-gouging’ ban as part of economic platform
Trade groups had mixed reactions to the policy proposal, with FMI disputing the allegations that companies inflate the price of groceries.
By Catherine Douglas Moran • Aug. 20, 2024 -
Permission granted by Meatable
How a former agriculture industry exec found himself CEO of cultivated meat company Meatable
Jeff “Trip” Tripician is looking to work with the meat industry rather than pitting the two against each other.
By Elizabeth Flood • Aug. 19, 2024 -
Courtesy of High Noon Spirits Company
Deep DiveHard seltzer started a new category, but will canned cocktails sustain momentum long term?
The push for premium RTD beverages is relying on real spirits and unique flavors to keep the ball rolling.
By Chris Casey • Aug. 19, 2024
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