Finances and Deals: Page 8
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The image by Tony Webster is licensed under CC BY-SA 2.0
Smithfield spins off Europe business ahead of potential US listing
The pork producer said the move would further accelerate “unique growth opportunities" in both areas.
By Nathan Owens • Aug. 28, 2024 -
Permission granted by The Better Meat Co.
The Better Meat Co. awarded $1.4M grant from US Defense Department
The California-based company plans to use the funding to produce large volumes of its Rhiza mycoprotein.
By Elizabeth Flood • Aug. 28, 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 -
Retrieved from Campbell Soup.
Campbell Soup sells Pop Secret for undisclosed amount
The divestiture to Popchips maker Our Home will allow the CPG giant to better focus its snacking portfolio and generate “accelerated growth.”
By Christopher Doering • Aug. 27, 2024 -
Courtesy of David
RXBar founder ‘betting everything on protein’ with new venture
Peter Rahal's latest brand David raised $10 million in capital and will not rely on nutrition fads to grow in the category.
By Chris Casey • Aug. 26, 2024 -
Courtesy of Kellanova
From candy giant to snacking powerhouse: What’s behind Mars’ $36B Kellanova acquisition
The purchase of the Pringles maker provides more opportunities to respond to consumer preferences and compete against PepsiCo and Mondelēz.
By Christopher Doering • Aug. 26, 2024 -
Justin Sullivan via Getty Images
Nestlé names company veteran Laurent Freixe as CEO
He will replace Mark Schneider, who is resigning after eight years in the role. The change comes as the Lean Cuisine maker struggles with cash-strapped customers cutting back on spending.
By Christopher Doering • Aug. 22, 2024 -
Joe Raedle via Getty Images
AB InBev to shutter Anheuser-Busch distribution facility
The brewer’s closure of the Massachusetts plant will impact 193 jobs. It comes amid a national decline in beer volumes.
By Chris Casey • Aug. 21, 2024 -
Scott Olson via Getty Images
Pilgrim’s Pride to pay $100M in largest protein antitrust settlement
The poultry processor, along with rivals including Tyson and Perdue Farms, was accused of conspiring to suppress the pay of chicken farmers.
By Chris Casey • Aug. 21, 2024 -
(Drew Angerer/Staff) via Getty Images
Beyond Meat’s financial woes magnified through late payments
Despite optimistic comments from CEO Ethan Brown, the company is overdue on a third of its payments to vendors in 2024.
By Elizabeth Flood • Aug. 21, 2024 -
Grant Baldwin via Getty Images
Kamala Harris proposes food ‘price-gouging’ ban as part of economic platform
Trade groups had mixed reactions to the policy proposal, with FMI disputing the allegations that companies inflate the price of groceries.
By Catherine Douglas Moran • Aug. 20, 2024 -
Permission granted by Meatable
How a former agriculture industry exec found himself CEO of cultivated meat company Meatable
Jeff “Trip” Tripician is looking to work with the meat industry rather than pitting the two against each other.
By Elizabeth Flood • Aug. 19, 2024 -
Courtesy of High Noon Spirits Company
Deep DiveHard seltzer started a new category, but will canned cocktails sustain momentum long term?
The push for premium RTD beverages is relying on real spirits and unique flavors to keep the ball rolling.
By Chris Casey • Aug. 19, 2024 -
Courtesy of Lifeway Foods, Inc.
Lifeway Foods family feud heats up as shareholders push CEO to resign
The brother and mother of CEO Julie Smolyansky are accusing the executive of steering the company off course.
By Chris Casey • Aug. 16, 2024 -
Courtesy of Superbrewed Food
Fonterra and Superbrewed Food join forces for biomass protein technology
Under the partnership, the companies seek to address growing consumer demand for protein.
By Elizabeth Flood • Aug. 15, 2024 -
Mario Tama via Getty Images
Snacking supernova: Kellanova CEO says purchase by Mars will spark innovation
Steve Cahillane, who plans to exit the company after the deal goes through, said in an interview the nearly $36 billion acquisition will help the Pringles producer grow in new markets.
By Chris Casey • Aug. 15, 2024 -
Courtesy of Molson Coors
Tilray to acquire 4 craft beer brands from Molson Coors
The purchase allows the cannabis producer to continue growing its presence in the alcohol category and comes as the Coors Banquet brewer seeks to pare down its portfolio.
By Chris Casey • Aug. 14, 2024 -
Courtesy of Kellanova
Snickers owner Mars to buy Kellanova for $35.9B
The deal for the Cheez-It and Pringles maker is the biggest in the food space since the Kraft Heinz merger in 2015. It gives the gum and candy giant a dominant presence in savory snacks where it currently has little exposure.
By Christopher Doering • Aug. 14, 2024 -
Courtesy of Mondelez International, Coca-Cola
Oreo, Coca-Cola partner to create drink and cookie combining the iconic brands
The limited-time offerings will be available in grocery and convenience stores in the U.S. and other select markets around the world starting in September.
By Christopher Doering • Aug. 13, 2024 -
Permission granted by Impossible Foods
Impossible Foods opens first brick and mortar concept
CEO Peter McGuinness said Impossible Quality Meats is part of the company's mission to prove its plant-based products are not like "a warm beer or a cold shower."
By Elizabeth Flood • Aug. 12, 2024 -
Retrieved from Sweetwood Smoke & Co..
Conagra Brands acquires premium meat stick brand Fatty
CEO Sean Connolly said the purchase, which complements its Slim Jim and Duke’s offerings, “is another step in reshaping our portfolio for faster growth.”
By Christopher Doering • Aug. 12, 2024 -
Justin Sullivan via Getty Images
ColumnThe Weekly Sip: Molson Coors faces declining beer demand | Nestlé brings Kit Kat into Coffee mate
The brewer said offerings such as Coors Banquet are helping drive sales despite a decline in total volume, and a U.K. canned cocktail brand hopes to make a statement in a crowded category.
By Chris Casey • Aug. 8, 2024 -
Courtesy of Prime
Logan Paul’s Prime sports drink hit with lawsuit from bottler
Refresco alleged Congo Brands, which sells the hydration beverage founded by YouTube star Logan Paul, backed out of its agreement to sell the drink.
By Chris Casey • Aug. 6, 2024 -
CFO Editorial Staff
Tyson profits soar after ‘remarkable turnaround’ in chicken
Operational efficiencies following a string of cost-cutting pushed third quarter earnings for the nation’s largest meat company higher than executives expected.
By Nathan Owens • Aug. 5, 2024 -
Permission granted by Clio Snacks
Clio refrigerated bar demand heats up as yogurt offering upends dairy space
CEO John McGuckin said the snacks maker’s sales could reach $500 million as it boosts household penetration and convinces retailers to carry more of its offerings.
By Christopher Doering • Aug. 5, 2024 -
Courtesy of Kellanova
Pringles leads the pack as Kellanova touts sales growth
The snacking company’s CEO Steve Cahillane told investors the chip brand is driving volume improvements in North America.
By Chris Casey • Aug. 2, 2024
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