Finances and Deals: Page 5
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Craig Barritt via Getty Images
Stoli vodka owners file for bankruptcy following cyberattack
The company's CEO said that its IT systems have been affected since the ransomware attack earlier this year, which coincided with the seizure of distilleries producing the spirit in Russia.
By Chris Casey • Dec. 4, 2024 -
Christopher Doering/Food Dive
The Campbell’s Company names Mick Beekhuizen as CEO
The CPG veteran, who currently oversees the soup giant’s $5.3 billion meals and beverages division, will take over for Mark Clouse on Feb. 1.
By Christopher Doering • Dec. 3, 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 -
Justin Sullivan via Getty Images
Constellation Brands selling Svedka vodka to Sazerac
The divestiture comes as the Corona brewer focuses on premium wine and spirits while distancing itself from its less expensive offerings that are seeing a decline in consumption.
By Chris Casey • Dec. 3, 2024 -
Kritchai Chaibangyang via Getty Images
TreeHouse Foods buys private label tea business for $205M
The purchase will strengthen its competitive position in the fast-growing beverage category while building its presence in higher-growth, higher-margin businesses.
By Christopher Doering • Dec. 2, 2024 -
Courtesy of Lifeway Foods
Lifeway says Danone’s latest offer ‘undervalues’ firm, but board not opposed to a sale
The kefir maker touted its ability to increase shareholder value, noting its recent growth and demand for its products from consumers interested in healthy foods.
By Christopher Doering • Nov. 26, 2024 -
Courtesy of Oishii
Oishii nabs another $16M as it prepares to take its luxury strawberries worldwide
The funding comes as the vertical farming company enters the Chicago market and prepares to open its first international facility in Tokyo.
By Nathan Owens • Nov. 25, 2024 -
Courtesy of Sabra
PepsiCo to acquire full ownership of Sabra, Obela brands for $244M
The deal with Strauss Group will enable the CPG giant to expand its better-for-you portfolio by giving it full control over the dip and spread products.
By Christopher Doering • Nov. 22, 2024 -
Catherine Douglas Moran/Food Dive
Trump’s tariff plan is likely to push up grocery prices, economists say
The U.S.'s reliance on food and beverages from abroad has grown, creating a potentially significant exposure under the president-elect’s plan.
By Sam Silverstein • Nov. 20, 2024 -
Courtesy of Lifeway Foods, Inc.
Lifeway rejects Danone’s second takeover offer
The kefir company said the revised $27 a-share proposal substantially undervalues” its business.
By Christopher Doering • Nov. 20, 2024 -
Permission granted by Nature's Bakery
Nature’s Bakery bucking slowdown in snack bars with healthier offering
The Mars-owned brand is posting double-digit growth and wooing consumers by solving “a real problem” with its whole grain and fruit products.
By Christopher Doering • Nov. 20, 2024 -
Courtesy of J.M. Smucker
JM Smucker opens Uncrustables facility in Alabama
The food giant's $1.1 billion investment marks the third manufacturing location dedicated to the brand.
By Joelle Anselmo • Nov. 19, 2024 -
Christopher Doering/Food Dive
Nestlé to cut $2.8B in costs, separate water into standalone business
The packaged goods giant also plans to fix, rather than sell, the majority of its underperforming businesses, CEO Laurent Freixe told investors and analysts.
By Christopher Doering • Nov. 19, 2024 -
Courtesy of Electrolit
Hydration beverage maker Electrolit invests $400M in first US plant
The company, with nearly half a billion in annual sales nationwide, is doubling down on its recent success and the popularity of electrolyte-infused drinks.
By Chris Casey • Nov. 19, 2024 -
Liliboas via Getty Images
Turkey could be upstaged by other meats this Thanksgiving: CoBank
The popular holiday item faces tightened supply and lower demand than in previous years, the cooperative bank said in a report.
By Chris Casey • Nov. 18, 2024 -
Christopher Doering/Food Dive
Nestlé invests $150M to expand South Carolina frozen food plant
The Hot Pockets and Lean Cuisine manufacturer said it will add a production line as well as enhance automation and digital technology.
By Christopher Doering • Nov. 18, 2024 -
Retrieved from Lifeway Foods.
Danone boosts offer for kefir maker Lifeway Foods to $307M
In a letter, the dairy giant said it was “disappointed” by the response to its earlier $283 million proposal and noted the increased price “fully reflects the fundamental potential of the Company.”
By Christopher Doering • Nov. 15, 2024 -
Permission granted by General Mills
General Mills to buy Whitebridge’s US pet food business for $1.45B
The Lucky Charms maker is furthering its push into pet food with the purchase of the cat feed and treats business.
By Chris Casey • Nov. 14, 2024 -
Courtesy of Diageo
ColumnThe Weekly Sip: Diageo leans into luxury spirits | Cheerwine gets into the holiday spirit with ale
In other beverage news, juice maker Langers debuted a craft cola with better-for-you ingredients.
By Food Dive staff • Nov. 14, 2024 -
Retrieved from Noosa.
Campbell Soup sells Noosa yogurt to fresh foods manufacturer Lakeview Farms
The CPG giant previously said the dairy brand, which it acquired as part of its $2.7 billion purchase of Sovos Brands, was not core to its business.
By Christopher Doering • Nov. 13, 2024 -
Permission granted by Cabio Biotech
Nourish Ingredients looks to enter Chinese market with Cabio partnership
The companies’ first cross-continental collaboration is expected to be mutually beneficial as they seek to expand the reach of plant-based meat.
By Elizabeth Flood • Nov. 12, 2024 -
Bill Pugliano via Getty Images
WK Kellogg Co bets big on factory revamp to boost performance
The cereal company’s plans to replace aging technology is taking shape, with $96 million spent on infrastructure so far this year.
By Chris Casey • Nov. 11, 2024 -
Courtesy of Hershey's
Hershey buys candy brand Sour Strips for undisclosed amount
The Reese’s manufacturer said the purchase expands its sweets portfolio and increases its ability to reach new consumers across more snacking occasions.
By Christopher Doering • Nov. 8, 2024 -
Courtesy of Molson Coors
Molson Coors buys majority stake in Zoa energy drinks
The beverage giant will now control marketing and retail operations for the better-for-you brand, which was co-founded by Dwayne “The Rock” Johnson.
By Chris Casey • Nov. 7, 2024 -
Permission granted by DirectSens
Kerry Group acquires lactose testing technology
The taste and nutrition giant said the LactoSens platform is used by food and beverage companies to check for the sugar naturally found in dairy products.
By Elizabeth Flood • Nov. 7, 2024 -
Permission granted by Danone
ColumnThe Weekly Sip: Danone debuts plant-based milk for kids | Celsius sees sales boost
In other beverage news, XXI Martinis is shaking up the holiday season with its limited Chocolate Peppermint beverage.
By Food Dive staff • Nov. 7, 2024
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