Finances and Deals: Page 6
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(Drew Angerer/Staff) via Getty Images
Beyond Meat posts positive growth for first time in 3 years
Despite quarterly sales volumes taking a hit, CEO Ethan Brown told analysts in an earnings call Wednesday that the company’s price hikes led to profitability.
By Elizabeth Flood • Nov. 7, 2024 -
Courtesy of Lifeway Foods, Inc.
Lifeway Foods rejects Danone’s $283M ‘opportunistic’ takeover offer
The keifer maker said its board determined that the “proposal substantially undervalues” the company and was not in the best interest of its shareholders.
By Christopher Doering • Nov. 5, 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 -
Christopher Doering/Food Dive
Food and beverage M&A activity appears to be picking up: CoBank
Consumer interest in better-for-you snacking and struggles in plant-based meat alternatives could make these sectors attractive for dealmaking, the bank cooperative noted.
By Christopher Doering • Nov. 4, 2024 -
Courtesy of Kellanova
Kellanova sales rise as shareholders approve Mars merger
The Cheez-It manufacturer expressed optimism for a strong 2025 as it continues to see robust demand for its snack products.
By Chris Casey • Updated Nov. 4, 2024 -
Courtesy of Kind Snacks
Campbell’s and Kind receive USDA support to advance regenerative agriculture for key ingredients
The soup giant secured $3.4 million in USDA funding for tomato growers in California and Kind Snacks announced milestones for sustainable almond farming.
By Sarah Zimmerman • Nov. 4, 2024 -
Christopher Doering/Food Dive
Celsius Holdings boosts innovation, production capacity with $75M co-packer purchase
The beverage company said the acquisition provides it with the flexibility to grow in a competitive energy drink market forecast to reach $30 billion in five years.
By Christopher Doering • Nov. 1, 2024 -
Courtesy of Lactalis USA
Lactalis USA spending $55M to expand feta cheese production
The 38,000-square-foot manufacturing line, which will be operational in 2027, comes as the cheese variety grows in popularity with American consumers.
By Christopher Doering • Oct. 30, 2024 -
Courtesy of Diageo
Diageo doubles nonalcoholic Guinness production
The Irish brewer said increased investment will help grow the reach of Guinness 0.0 as consumers increasingly opt to moderate their drinking.
By Chris Casey • Oct. 29, 2024 -
Adeline Kon/Food Dive
Deep DivePolitical donations from 15 of the largest US food and beverage makers plunge
Contributions from entities associated with these companies totaled $4.5 million during the 2024 election cycle compared to $8.2 million four years ago.
By Christopher Doering , Jasmine Ye Han • Oct. 28, 2024 -
Courtesy of Hormel
Hormel sells its heath foods business for undisclosed amount
The Spam manufacturer said the unit, which makes offerings for consumers facing conditions such as diabetes and cancer, is “very solid and can grow with the right partner.”
By Christopher Doering • Oct. 25, 2024 -
Retrieved from Ghost.
Keurig Dr Pepper to buy energy drink brand Ghost for more than $1B
The acquisition expands the beverage giant’s presence in the fast-growing category and deepens a portfolio that also includes water, soda, coffee and juice.
By Christopher Doering • Oct. 24, 2024 -
Courtesy of The J.M. Smucker Company
J.M. Smucker to sell Voortman cookies for $305M
The deal with Brownie Brittle's owner, Second Nature, is the latest effort by the CPG giant to refine its portfolio and concentrate on its biggest growth opportunities.
By Christopher Doering • Oct. 22, 2024 -
Courtesy of Molson Coors
Molson Coors completes 4-year upgrade of Colorado brewery
The Coors Banquet brewer said the modernization effort will result in less waste and help it save money.
By Chris Casey • Oct. 21, 2024 -
Retrieved from J&J Snack Foods.
Deep DiveThe stealthy snacking giant behind Dippin’ Dots, Icee and other treats
While J&J Snack Foods may not be a household name, the company has drawn praise for its “unique collection” of category-leading brands and nearly recession-proof business model.
By Christopher Doering • Oct. 21, 2024 -
Scott Olson via Getty Images
Hershey invests $500M to improve cocoa farming struggles
The confectionery giant is working with cooperatives in Côte d’Ivoire to partner with growers as a way to standardize cocoa cultivation and lift profits.
By Elizabeth Flood • Oct. 17, 2024 -
Retrieved from Ferrero.
Ferrero’s Butterfinger debuts first major innovation in nearly a decade
The Salted Caramel bar, which debuts in April, is the first limited-time offering for the century-old brand under the Nutella owner. Similar changes are expected for Crunch and Baby Ruth.
By Christopher Doering • Oct. 15, 2024 -
Courtesy of Duckhorn Portfolio
Butterfly Equity to buy Duckhorn Portfolio wines for nearly $2B
The deal is part of a larger consolidation in the high-end wine category as brands adapt to harsh market conditions and changing consumer tastes.
By Chris Casey • Oct. 7, 2024 -
Courtesy of Moët Hennessy
Moët Hennessy invests in nonalcoholic wine brand
The luxury beverage maker’s partnership comes after it reported declining revenue in the sparkling wine category in the first half of 2024.
By Chris Casey • Oct. 7, 2024 -
Courtesy of Meatable
Meatable preps for Series C funding round, hires new CTO
The cultivated meat startup is eyeing its next phase of growth with an invite-only January open-house including investors, government officials and strategic consultants.
By Elizabeth Flood • Oct. 7, 2024 -
Courtesy of Kraft Heinz
Food companies have ‘bought the AI hype’ but some are unable to deliver: expert
While optimism remains, the chief technology officer at IFS said manufacturers should hone in on what they need to solve with artificial intelligence.
By Chris Casey • Oct. 3, 2024 -
Retrieved from Urban Legend.
Mondelēz’s VC arm buys minority stake in healthier doughnut brand
The investment in UK-based Urban Legend expands the Oreo maker's presence in the better-for-you bakery space and builds on efforts to expand in cakes and pastries.
By Christopher Doering • Oct. 1, 2024 -
Christopher Doering/Food Dive
PepsiCo to acquire tortilla-chip maker Siete Foods for $1.2B
The acquisition expands on the New York company’s efforts to improve the healthiness of its snacking portfolio as consumers watch more closely what they eat.
By Christopher Doering • Oct. 1, 2024 -
Christopher Doering/Food Dive
‘Sauce is boss’: How Campbell Soup is turning Rao’s into its next $1B brand
While the premium brand has branched out into pasta, frozen entrees, pizza and soup, executives said about 75% of sales will come from its fast-growing jarred sauce.
By Christopher Doering • Oct. 1, 2024 -
Courtesy of Anheuser-Busch
Anheuser-Busch invests $16M in facility to boost drinks ‘beyond beer’
The beer giant aims to expand production of its canned cocktail brands.
By Chris Casey • Sept. 30, 2024 -
Courtesy of Diageo
Diageo acquires nonalcoholic spirits brand Ritual
The company is expanding its presence in the zero-proof beverages market with a brand that sells alternatives to gin, whiskey and tequila.
By Chris Casey • Sept. 30, 2024
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