Finances and Deals: Page 2
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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 -
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 -
Q&A
From 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 -
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 -
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 -
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 -
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 -
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 -
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 -
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 -
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 -
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 -
Tyson signals ‘bold actions’ are working amid beef headwinds
After several plant closures last year, more cost-cutting could be on the horizon with the CEO vowing that “everything remains on the table.”
By Nathan Owens • Feb. 6, 2024 -
Opinion
Why a new ‘tomato tax’ is rotten to the core
Suspending the tomato trade agreement between the U.S. and Mexico would cost jobs and lead to higher prices for retailers and consumers, a NatureSweet exec writes.
By Skip Hulett • Feb. 5, 2024 -
Meati Foods names CPG veteran to CFO as company juggles growth, profitability
The appointment of Phil Graves comes amid a slowdown in plant-based sales as cash-strapped consumers watch their spending.
By Christopher Doering • Feb. 5, 2024 -
Keurig Dr Pepper expands partnership with Lavazza
The beverage giant will sell and distribute Lavazza’s K-Cups more widely while introducing the Italian company's Kicking Horse brand to the popular pod format.
By Christopher Doering • Feb. 2, 2024 -
Phytolon, Ginkgo Bioworks reach milestone with natural colors
The biotech companies developed a range of yellow to purple hues using yeast fermentation, with the intent of bringing the products to market soon.
By Chris Casey • Feb. 1, 2024 -
Food trends for 2024: What’s to come this year
Inflation, consumer fatigue over price increases and other factors continue to weigh on companies. Everything from beverages to snacking is set to change in the year ahead.
By Food Dive staff • Jan. 31, 2024 -
Utz to sell 2 brands and manufacturing facilities to Popchips owner for $182.5M
The transaction will help the pretzel and chip maker improve its supply chain, reduce its debt and better position its portfolio for growth.
By Christopher Doering • Jan. 31, 2024 -
J.M. Smucker discontinues Knott’s Berry Farm jam and cookie brand
A spokesperson said the decision was part of the company’s strategy to “evaluate our portfolio and ensure we are dedicating resources to the areas with the greatest growth potential.”
By Christopher Doering • Jan. 25, 2024 -
Plant-based casein maker lands first commercial partner
Pureture’s partnership with South Korean dairy manufacturer Namyang “validates the functionality” of its product.
By Elizabeth Flood • Jan. 25, 2024 -
Mars to build $237M facility for its Nature’s Bakery brand in Utah
The plant will meaningfully increase capacity for the granola and snack bar brand, which has become the eighth best-selling and fastest-growing product in the category.
By Christopher Doering • Jan. 24, 2024 -
Oatly and Carvel partner to bring dairy-free flavors to stores nationwide
The self-described “cult classic ice cream shoppe,” will offer oat-based soft serve, scoops, and ice cream sandwiches in 18 states.
By Elizabeth Flood • Jan. 23, 2024 -
Celsius broadens international reach with distribution deals in Canada, UK
The energy drink maker also has identified Germany, Japan and Australia as “big opportunities” for new markets as it increases its reach outside the U.S.
By Christopher Doering • Jan. 22, 2024 -
JDE Peet’s reaches $260M licensing deal with Caribou Coffee
The transaction will allow JDE Peet’s to expand its premium portfolio in North America, while giving Caribou the ability to focus on its growing coffeehouse business.
By Christopher Doering • Jan. 19, 2024