Corporate Operations: Page 66
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Courtesy of Clif Bar
2022’s top M&A deals in the food and beverage industry
Last year saw companies turn to dealmaking as a way to quickly gain presence in fast-growing categories or strengthen their position in existing ones.
By Christopher Doering • Jan. 3, 2023 -
Courtesy of International Flavors & Fragrances
IFF sells Savory Solutions Group for $900M
The sale to private equity firm PAI Partners is the first of three divestments CEO Frank Clyburn said were coming soon at the company’s investor day earlier this month.
By Megan Poinski • Dec. 22, 2022 -
Explore the Trendline➔
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TrendlineHow GLP-1s are shaking up snacking
Food companies, including Danone and Nestlé, are adding more protein and changing portion sizes as weight loss medications reshape consumption patterns.
By Food Dive staff -
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How ADM helps other fermentation companies grow and innovate
Through investments, expertise and agreements, the global commodities giant has worked with many startups, helping them transform their technology into food.
By Megan Poinski • Dec. 22, 2022 -
Courtesy of Benson Hill
Bunge to spend $550M on protein concentrate plant
The Indiana facility, which will create about 70 full-time jobs, will make key ingredients used in the production of plant-based foods, processed meat and other products.
By Christopher Doering • Dec. 22, 2022 -
Retrieved from Just the Cheese.
John B. Sanfilippo buys baked cheese brand to expand snacking portfolio
The purchase of Just the Cheese for an undisclosed amount brings the nut and dried fruit products maker into new categories and complements its existing portfolio.
By Christopher Doering • Dec. 21, 2022 -
Chris Casey/Food Dive
How upcycled food companies tackle their biggest challenge
As more brands create products using ingredients that would have gone to waste, leaders in the industry say educating consumers is key to success.
By Chris Casey • Dec. 19, 2022 -
Retrieved from Mondelez.
Mondelēz International to sell gum business for $1.35B
The sale to Perfetti Van Melle Group, a European gum and confectionery maker, includes two manufacturing facilities and brands such as Trident and Dentyne in the U.S., Canada and Europe.
By Christopher Doering • Dec. 19, 2022 -
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Many dark chocolates have high levels of cadmium and lead, study finds
Consumer Reports looked at the amount of heavy metals in 28 popular brands, though the issue already was litigated, settled and studied, and confectioners have committed to making improvements.
By Megan Poinski • Dec. 19, 2022 -
Hain Celestial to sell its Westbrae Natural brand to Bush Brothers
The sale of the organic bean line for an undisclosed amount will allow the company to simplify its portfolio while improving its growth profile, margins and cash flow.
By Christopher Doering • Dec. 19, 2022 -
Courtesy of Ben & Jerry's
Unilever says Ben & Jerry’s Israel business lawsuit is settled
The independent board affiliated with the ice cream brand filed the initial lawsuit during the summer, arguing the CPG company overstepped its authority by selling its arm in the Middle Eastern country.
By Megan Poinski • Dec. 16, 2022 -
Courtesy of B&G Foods
B&G Foods to sell Back to Nature brand to Barilla America
CEO Casey Keller said the sale is part of the company’s portfolio focusing effort, and can help reduce long-term debt. Terms of the deal were not disclosed.
By Christopher Doering • Dec. 16, 2022 -
Courtesy of Novozymes
Chr. Hansen will merge with Novozymes in a $12.3B deal
The sale, which is expected to close in the fourth quarter of 2023 at the earliest, would create a company with extensive expertise in enzymes and natural microbials.
By Megan Poinski • Dec. 15, 2022 -
Permission granted by Whole Earth Brands
Equal sweetener owner Whole Earth announces CEO transition plan
The company’s board appointed member Michael Franklin to serve as its interim head starting Jan. 1. He replaces Albert Manzone, who has run the firm since 2016.
By Christopher Doering • Dec. 15, 2022 -
Permission granted by Coca-Cola
How Coca-Cola turns to its Freestyle machine to create shelf-ready flavors
The CPG’s 50,000 dispensers, which pour more than 11 million drinks each day, have inspired four beverage creations that have made it to bottles and cans.
By Christopher Doering • Dec. 15, 2022 -
Dimas Ardian via Getty Images
Investors pressure food companies to set concrete deforestation plans
Groups representing trillions of dollars in assets say CPGs must do more to prevent further losses of biodiversity in their supply chains by 2030.
By Chris Casey • Dec. 14, 2022 -
Courtesy of Papa Pita Bakery
Flowers Foods buys Papa Pita Bakery for undisclosed amount
With the purchase of the Utah company, the baking giant adds several regional brands to its portfolio, as well as a state-of-the-art manufacturing facility and distribution network.
By Megan Poinski • Dec. 14, 2022 -
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Drought leads to 80% jump in vegetable prices
Prices from producers increased 38% in November, and could continue to be unstable if weather conditions don’t improve.
By Chris Casey • Dec. 13, 2022 -
Courtesy of Ynsect
Ynsect plans US insect farm and partners with Ardent Mills
The facility will produce more than 55,000 tons of ingredients a year, which the milling company will explore for use in healthy and sustainable food.
By Megan Poinski • Dec. 13, 2022 -
Courtesy of Orbillion Bio
Orbillion Bio partners with Solar Biotech to make 4M pounds of cultivated meat a year
The startup making Wagyu beef, elk and lamb from cells is the latest in the food space to work with the biomanufacturing company.
By Megan Poinski • Dec. 12, 2022 -
Permission granted by The Ibotta Performance Network
Sponsored by The Ibotta Performance NetworkIbotta and General Mills: Fighting inflation, winning back market share
Brands like General Mills that join the Ibotta Performance Network see near-immediate results with greater return on ad spend.
Dec. 12, 2022 -
Courtesy of General Mills, IHOP
ColumnLeftovers: General Mills flips for IHOP cereal; Brach’s heats up candy canes
The CPG giant and pancake restaurant joined forces for the breakfast offering, and Ben & Jerry’s teams up with award-winning director Ava DuVernay on an ice cream flavor.
By Food Dive staff • Dec. 9, 2022 -
Courtesy of International Flavors & Fragrances
IFF plans job cuts as part of company restructuring
The ingredients giant plans to save $100 million annually through headcount reduction, which is a part of a plan to become more streamlined, efficient and customer-centric.
By Megan Poinski • Dec. 8, 2022 -
Courtesy of Chobani
Chobani bolsters C-suite with hiring of chief communications and impact officer
The appointment of insider Nishant Roy, who will oversee communications, government relations, sustainability and other duties, is the latest executive hire for the yogurt giant in 2022.
By Christopher Doering • Dec. 8, 2022 -
Courtesy of Pernod Ricard
Pernod Ricard to spend $250M building carbon-neutral distillery in Kentucky
The spirits maker said the investment “doubles down” on the future sustainability of American whiskey and the “strong growth — and growth potential” in the company’s portfolio.
By Christopher Doering • Dec. 8, 2022 -
Courtesy of Believer Meats
Believer Meats breaks ground on world’s largest cultivated meat plant
The company, formerly known as Future Meat Technologies, will be able to make at least 11,000 tons of cultivated meat in custom bioreactors once the North Carolina facility opens.
By Megan Poinski • Dec. 8, 2022
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