Finances and Deals: Page 27

  • Inside a grocery store, a grocery shopper browses the meat selection where a "low price" sign hangs.
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    Brandon Bell via Getty Images
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    Food inflation to remain volatile despite recent improvements, trade group says

    While prices in January increased 11.3% compared to the same month a year earlier, the annual rate was the lowest since April, according to the government — a sign the surge in grocery costs could be moderating.

    By • Feb. 14, 2023
  • "Breaking Bad" star Bryan Cranston poses with a bag of PopCorners for the brand's Super Bowl LVII ad teaser.
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    Courtesy of Frito-Lay
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    Opinion

    Why brands need to pay attention to this year’s ‘Snack Bowl’

    Brands are starting to place a heavier focus off the big screen and onto social media platforms, writes Joe Charnitski, director of customer experience management best practices at Sprinklr.

    By Joe Charnitski • Feb. 14, 2023
  • Cans of Poppi soda are displayed on a shelf Explore the Trendline➔
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    Spencer Platt via Getty Images
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    Trendline

    Inside the functional beverage frenzy

    Major companies like PepsiCo and Monster are adding ingredients to boost emotional or physical wellness as consumers demand more out of their drinks.

    By Food Dive staff
  • TreeHouse Foods logo on a white background
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    Courtesy of TreeHouse Foods
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    TreeHouse Foods looking to M&A to improve manufacturing capacity

    While demand has increased for private label items, the company has not been able to fully capitalize on it because of pervasive supply chain issues.

    By • Feb. 14, 2023
  • Tofurky's Plant-Based Roast
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    Courtesy of Tofurky
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    Tofurky bought by Morinaga Nutritional Foods for undisclosed amount

    The plant-based meat pioneer has worked with the division of the Japanese dairy giant for 17 years, and the acquisition will help strengthen its supply chain and bolster future expansions.

    By • Feb. 10, 2023
  • Packaging for Kellogg's MorningStar Farms Incogmeato brand.
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    Courtesy of Kellogg
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    Kellogg will not split off its plant-based brands

    The CPG giant — which saw sales increase 12% in its last quarter — is holding on to MorningStar Farms and only breaking off its cereal brands, CEO Steve Cahillane said on the earnings call.

    By • Feb. 10, 2023
  • Post, pet food
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    Courtesy of Post Holdings
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    Post enters pet food category through $1.2B deal with J.M. Smucker

    The deal, which includes Rachael Ray Nutrish and Kibbles ‘n Bits, gives the Pebbles cereal and Peter Pan peanut butter producer a prominent presence in a category dominated by Mars, Nestlé and General Mills.

    By • Feb. 9, 2023
  • A white rectangular tray with several skewers with chicken nuggets sits on a wooden surface with a Rebellyous Foods package next to it and a green cloth behind it.
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    Courtesy of Rebellyous Foods
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    Rebellyous Foods raises $9.5M to build its plant-based chicken tech

    The Seattle company is working toward deploying a custom manufacturing facility, which founder and CEO Christie Lagally said will allow the brand to undercut meat prices.

    By • Feb. 6, 2023
  • A bottle of D'Usse cognac sits on an old wooden bar next to a gold-rimmed old fashioned glass and cocktail glass, both which have the gold D'Usse cross. A small white box is next to the bottle.
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    Jerritt Clark via Getty Images
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    Bacardi buys majority of Jay-Z’s cognac brand, ending legal battle

    The entertainer and businessman created D’Ussé with the alcohol maker, but filed a series of lawsuits challenging the company’s valuation of his share.

    By • Feb. 6, 2023
  • A petri dish of red liquid with three round black, grey and white fungal colonies floating in it sits on a steel surface.
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    Courtesy of Michroma
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    Michroma raises $6.4M to speed commercialization of natural red food color

    The company, which ferments bioengineered fungi to produce a pigment, received funds from General Mills-backed Supply Change Capital, Dr. Oetker and CJ CheilJedang.

    By • Feb. 2, 2023
  • Dole, produce
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    Retrieved from Dole.
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    Dole selling its fresh vegetables division for $293M to Chiquita subsidiary

    The fresh produce giant said proceeds from the sale of the division, which generated revenue of $1.28 billion in 2021, will be used primarily to pay down debt.

    By • Feb. 1, 2023
  • The photo shows cannabis plants growing in a greenhouse.
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    Getty Images
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    How FDA stopped the momentum for CBD in food and drink

    Several companies bought big into the once-promising segment, but the government’s decision not to permit the ingredient in food and beverages has left producers unwilling to invest further.

    By • Jan. 31, 2023
  • Horizon Organic, Danone
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    Retrieved from Danone.
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    Danone exploring options, including a sale, for US organic dairy business

    The review includes the Horizon Organic and Wallaby brands, which represent 3% of the company’s global revenues and have been a drag on growth and margins.

    By • Jan. 30, 2023
  • Camino Partners execs and the Belgian Boys brand founders have their arms around each other in front of a pink Belgian Boys trade show booth.
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    Permission granted by Camino Partners
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    Former Kind execs launch incubation and investment firm Camino Partners

    The entity represents a new name and mission for Daniel Lubetzky’s Equilibra Partners Management, with a goal of helping startups on their journey.

    By • Jan. 24, 2023
  • Plant-based chicken strips next to a wooden scoop of beans
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    Courtesy of No Meat Factory
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    No Meat Factory raises $42M to expand plant-based protein manufacturing

    The Canada-based company makes branded alternative protein items for other companies, and seeks to offer its services globally.

    By • Jan. 13, 2023
  • Cones of strawberry, vanilla and chocolate ice cream stick out of a glass jar with an ice cream scoop and spoons on a blurred counter background.
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    Getty Images
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    Kerry negotiating 500M euro sale of sweet ingredients business

    The divestment would free the company up to expand in higher-growth areas, and would help potential buyer IRCA become a global leader in components for the segment.

    By • Jan. 12, 2023
  • richard's rainwater, bottle, water
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    Permission granted by Richard's Rainwater
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    From cloud to bottle: Richard’s Rainwater turns to raindrops for a sustainable beverage

    The company forecasts sales to top $10 million in 2023, and has benefited from growing demand for earth-friendly products and recent water quality concerns.

    By • Jan. 12, 2023
  • Tyson Foods
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    Permission granted by Tyson Foods
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    Tyson adds 150 more jobs to Illinois plant expansion

    The company broke ground on the $180 million addition to its plant — which will now add 400 new positions — in August.

    By • Jan. 11, 2023
  • Birch Benders, Sovos Brands, Hometown Food
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    Permission granted by Hometown Food
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    Sovos Brands sells Birch Benders to Hungry Jack pancake owner

    The divestiture to Hometown Food for an undisclosed amount will better position the company for growth by allowing it to focus on other premium brands, including Rao’s and Noosa.

    By • Jan. 10, 2023
  • Reese's, Unilever, Hershey, ice cream
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    Courtesy of Hershey, Unilever
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    Reese’s enters the frozen aisle through Hershey and Unilever partnership

    The collaboration between the longtime business allies allows the peanut butter and chocolate candy to expand its presence in stores, and brings a distinctive offering in ice cream treats.

    By • Jan. 6, 2023
  • Benson Hill headquarters
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    Courtesy of Benson Hill
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    Benson Hill sells Fresh division for $21M to concentrate on ingredients

    Agribusiness company IMG Enterprises closed on its Florida facility, real estate, and packhouse at the end of 2022 and will complete the transaction through a stock purchase this year.

    By • Jan. 6, 2023
  • pretzel, eastern standard provisions
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    Retrieved from Eastern Standard Provisions.
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    Mondelēz participates in $13.5M funding round for soft pretzel maker

    With the investment in Eastern Standard Provisions, Tapan Shah, head of venture capital for the CPG giant’s SnackFutures arm, became a director at the company.

    By • Jan. 5, 2023
  • Shelf tag for plant-based milk at a Giant Food in Washington, D.C.
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    Catherine Douglas Moran/Food Dive
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    Oatly sells some manufacturing capacity to co-packer Ya YA Foods for $98.1M

    After a year plagued with production problems, the publicly traded company will focus on its proprietary oat base, while the Canadian co-manufacturer will take over its Utah and Texas plants.

    By • Jan. 4, 2023
  • Moolec Science co-founder and CEO Gaston Paladini and some of the company's bioengineered plants.
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    Courtesy of Moolec Science
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    Moolec Science begins trading on Nasdaq

    The company is the first to use a process it calls molecular farming — using bioengineered plants to produce animal proteins — to go public.

    By • Jan. 3, 2023
  • Clif Thins owned by Clif, which Mondelez International purchased in 2022
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    Courtesy of Clif Bar
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    2022’s top M&A deals in the food and beverage industry

    Last year saw companies turn to dealmaking as a way to quickly gain presence in fast-growing categories or strengthen their position in existing ones.

    By • Jan. 3, 2023
  • IFF logo
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    Courtesy of International Flavors & Fragrances
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    IFF sells Savory Solutions Group for $900M

    The sale to private equity firm PAI Partners is the first of three divestments CEO Frank Clyburn said were coming soon at the company’s investor day earlier this month.

    By • Dec. 22, 2022