Finances and Deals: Page 7
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Thai Phi Le/Food Dive
Anheuser-Busch to launch energy drink through Dana White-backed partnership
Phorm Energy, a collaboration with sports nutrition and supplements company 1st Phorm, is expected to debut this summer.
By Christopher Doering • Jan. 16, 2025 -
Scott Olson via Getty Images
Jack Daniel’s owner to close barrel-making plant, cut more than 600 jobs
The restructuring by Brown-Forman, which is expected to generate up to $80 million in annual savings, comes as inflation and changing consumer tastes cut into spirits sales.
By Chris Casey • Jan. 16, 2025 -
Mat Hayward via Getty Images
Constellation Brands pins hopes on Mexican beers as spirits sales decline
As uncertainty looms around potential tariffs, the brewer’s CEO expressed optimism about the outlook for Modelo, Corona and Pacifico.
By Chris Casey • Jan. 14, 2025 -
Keurig Dr Pepper creates energy drink exec role in leadership refresh
The company also named Eric Gorli as president of its $9 billion U.S. refreshment beverage operation, which includes soft drinks, tea and water.
By Christopher Doering • Jan. 14, 2025 -
Courtesy of C.H. Guenther & Son
Hormel Foods CEO to retire after 36 years with the Spam maker
The departure of James Snee, who took over the top post in 2016, is the third leader from a major food company to announce they are leaving since December.
By Christopher Doering • Jan. 14, 2025 -
Permission granted by Hershey
Hershey names new executives to oversee confection, salty snacks
Andrew Archambault, joining from Keurig Dr Pepper, will oversee its sweets business, while company veteran Veronica Villasenor will run brands like Dot’s and SkinnyPop.
By Christopher Doering • Jan. 13, 2025 -
Getty Images
Louis Dreyfus buys BASF’s food and health ingredients business
The food processor seeks to dominate the plant-based space while chemical producer BASF shifts its focus to other areas.
By Chris Casey • Jan. 9, 2025 -
Courtesy of Duckhorn Portfolio
ColumnThe Weekly Sip: Duckhorn Portfolio names new CEO | Odwalla reemerges with new juices, smoothies
The winemaker is changing leadership after its $2 billion sale, and the juice brand formerly owned by Coca-Cola is tapping into consumer interest for healthier drinks.
By Food Dive staff • Jan. 9, 2025 -
Retrieved from Simple Mills.
Wonder bread owner buys Simple Mills for $795M
Flower Foods' purchase of the better-for-you snack maker is meant to improve its growth prospects while diversifying its portfolio with the addition of crackers, cookies, snack bars and baking mixes.
By Christopher Doering • Jan. 9, 2025 -
Courtesy of Kellanova
Food and beverage M&A activity poised to ‘proliferate’ in 2025
The lion’s share of dealmaking is expected to be smaller bolt-on transactions as companies increase their exposure in fast-growing, trendy areas such as premium, snacking and health and wellness.
By Christopher Doering • Jan. 7, 2025 -
Courtesy of Lifeway Foods, Inc.
Danone accuses Lifeway of allowing its CEO to engage in ‘self-dealing’ and ‘value destruction’
The France-based company, which is offering to buy the kefir producer, plans to file a lawsuit claiming its top executive and board have breached their fiduciary duties to shareholders.
By Christopher Doering • Jan. 6, 2025 -
Christopher Doering/Food Dive
Post Holdings to buy potato company for undisclosed amount
The purchase of Potato Products of Idaho complements the CPG company’s existing presence in spuds through foodservice and branded items such as Bob Evans sides and Simply Potatoes.
By Christopher Doering • Dec. 18, 2024 -
Permission granted by Redcon1
Nostalgic Jolt Cola returning to shelves as an energy drink
The beverage, popular in the 1980s and 1990s, is nearly tripling its caffeine content, ditching sugar and adding functional benefits in demand with today’s consumers.
By Christopher Doering • Dec. 16, 2024 -
Michael M. Santiago via Getty Images
Unilever CFO sees 7.5% pay boost for new procurement, tech responsibilities
Fernando Fernandez will receive a pay bump to take control of supply chain and tech as the CPG company navigates the separation of its $19.5 billion ice cream business.
By Grace Noto • Dec. 12, 2024 -
Mario Tama via Getty Images
Albertsons sues Kroger over failed merger
Albertsons has terminated the merger agreement, alleging Kroger did not offer an adequate divestiture package and repeatedly ignored regulators’ concerns.
By Catherine Douglas Moran , Jeff Wells • Updated Dec. 11, 2024 -
Permission granted by Unilever
Unilever finds its fast-growing Talenti line is anything but vanilla
Behind innovative flavors such as Alphonso Mango Sorbetto and Caramel Cookie Crunch Gelato, sales have nearly doubled since 2014, outpacing the broader ice cream category.
By Christopher Doering • Dec. 10, 2024 -
Graeme Robertson via Getty Images
Mondelēz VC arm invests in cocoa-tech company Celleste Bio
The Cadbury and Toblerone maker was among the investors who participated in a $4.5 million financing round for the developer of cell-cultured cocoa.
By Christopher Doering • Dec. 5, 2024 -
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 -
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 -
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
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