Finances and Deals: Page 9
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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 -
Courtesy of Mondelēz International
Mondelēz expands generative AI marketing bets with new platform
Publicis Groupe and Accenture support the offering focused on faster, more efficient production of personalized text, images and video.
By Peter Adams • Sept. 27, 2024 -
Courtesy of Goodles
Goodles poaches CFO from Sovos Brands
The better-for-you mac and cheese company is focused on leveraging Chris Hall’s experience to gain momentum in brand awareness.
By Elizabeth Flood • Sept. 26, 2024 -
Courtesy of Anheuser-Busch
ColumnThe Weekly Sip: Anheuser-Busch unveils Michelob Ultra Zero | Boston Beer takes Truly to brunch
In other beverage news, Nestlé’s Coffee mate is turning to a popular breakfast item for its latest creamer.
By Food Dive staff • Sept. 26, 2024 -
Courtesy of Waterloo Gin Company
Billionaire Patrón founder buys Waterloo gin
John Paul DeJoria wants to expand distribution of the 15-year-old botanical-infused spirits brand beyond its existing markets of Texas and Florida.
By Chris Casey • Sept. 25, 2024 -
Courtesy of Lifeway Foods, Inc.
Danone offers to buy kefir maker Lifeway Foods for $283M
The proposal to buy the company for $25 a share comes as Lifeway’s leadership remains embroiled in a bitter family dispute and the manufacturer faces shareholder calls to sell itself.
By Christopher Doering • Sept. 23, 2024 -
Permission granted by Mondelez International
Mondelēz buys majority stake in fast-growing Chinese cake and pastry maker
The snacking giant said the deal for Evirth “represents an important step” in expanding its presence in these categories, a core focus alongside chocolate and biscuits.
By Christopher Doering • Sept. 23, 2024 -
Courtesy of Molson Coors
ColumnThe Weekly Sip: Molson Coors revives light Miller High Life | Poppi, Post Malone partner on new flavor
In other beverage news, Bigelow Tea is constructing a new facility in Kentucky to meet the growing demand for its products.
By Food Dive staff • Sept. 19, 2024 -
Courtesy of General Mills
General Mills sees at-home consumption rebounding after price cuts
CEO Jeff Harmening told Wall Street analysts that the cereal maker is benefiting from consumers who are eating more at home to save money.
By Chris Casey • Sept. 19, 2024
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