Corporate Operations: Page 49
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Courtesy of Clif Bar
Food CPG makers are hungry for M&A, but taking ‘disciplined’ approach to acquisitions
Companies at the recent CAGNY conference said even though they are in financially healthy positions, any deals they make will likely be smaller bolt-on purchases.
By Christopher Doering • March 1, 2023 -
Permission granted by Cargill
Cargill enters alternative fats partnership with Cubiq Foods
The co-development and go-to-market agreement was part of the agribusiness giant’s investment in the Spanish plant-based and cultivated ingredients startup last year.
By Megan Poinski • March 1, 2023 -
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 -
David Silverman via Getty Images
Deep DiveWhy cage-free eggs could be on shaky ground
Industry leaders are still on a path to wider adoption of cage-free systems, but consumer expectations, bird flu and an upcoming Supreme Court decision could impact whether they continue to invest in the practice.
By Chris Casey • Feb. 28, 2023 -
Courtesy of Moolec Science
Moolec Science grows molecular farming awareness with Nasdaq debut
The company, which went public through a SPAC merger late last year, is highlighting its technology and the opportunities it could bring to the food system.
By Megan Poinski • Feb. 28, 2023 -
Permission granted by General Mills
General Mills discontinues animal-free cream cheese Bold Cultr
A note on the website of the first Big Food product to use precision fermentation dairy says the company decided to “deprioritize funding” for the startup brand.
By Megan Poinski • Feb. 28, 2023 -
Courtesy of Flowers Foods
Dave’s Killer Bread adds snack bars to its lineup
The launch underscores Flowers Foods’ efforts to tap into the better-for-you attributes of the brand, while expanding its reach into fast-growing categories.
By Christopher Doering • Feb. 28, 2023 -
Justin Sullivan via Getty Images
OpinionFinding and creating value in food waste
Our system needs to be circular and mimic nature, where nothing is lost, writes Pete Pearson, global initiative lead for the food circularity program at World Wildlife Fund.
By Pete Pearson • Feb. 27, 2023 -
Permission granted by Mondelez International
Mondelēz aims to bring snacking supremacy to $71B cake and pastry category
Even after tripling sales in the segment during the last three years, the chocolate and biscuit giant remains a distant third with a 3.2% market share.
By Christopher Doering • Feb. 27, 2023 -
Catherine Douglas Moran/Food Dive
Nearly three in four consumers plan to keep buying private label when the economy settles, survey says
Manufacturers’ and retailers’ efforts to improve store-branded offerings are paying off, as shoppers make price their most important consideration, the data from Attest shows.
By Megan Poinski • Feb. 27, 2023 -
Courtesy of Beyond Meat
Beyond Meat hits earnings expectations, but continues to struggle with sales
CEO Ethan Brown said operational changes are starting to work, and reaffirmed the expectation to be cash flow positive by the second half of 2023.
By Megan Poinski • Feb. 24, 2023 -
Courtesy of Kraft Heinz
ColumnLeftovers: Ed Sheeran gets tingly with Kraft Heinz; Honey Bunches of Oats crunches into chips
The British pop singer partners with the manufacturer of his favorite condiment, and better-for-you tortillas Rise & Puff tortillas blow into the market.
By Food Dive staff • Feb. 24, 2023 -
Courtesy of International Flavors & Fragrances
IFF sells its Flavor Specialty Ingredients business for $220M
British private equity firm Exponent is buying the business, which the company says generated more than $100 million in revenue during the last 12 months.
By Megan Poinski • Feb. 23, 2023 -
Courtesy of Kellogg
Plant-based meat ‘ripe for consolidation,’ Kellogg exec says
Chris Hood, who heads the CPG’s North American business, said in an interview while “the sector is challenged now,” the company remains upbeat about the category and its MorningStar Farms brand.
By Christopher Doering • Feb. 23, 2023 -
Courtesy of Hostess Brands
Hostess launches new snack brand to invigorate category, shed staid reputation
Kazbars, a candy-bar-inspired innovation, has chocolate cake, cream, crunch and a gooeyness from fudge and caramel. It is the latest in a string of major product launches in recent years for the sweets maker.
By Christopher Doering • Feb. 22, 2023 -
Mark Kolbe via Getty Images
Tyson to acquire Williams Sausage Company
The meat giant’s purchase of the sausage and bacon processor, for an undisclosed sum, comes after a period of M&A inactivity in the meat sector.
By Chris Casey • Feb. 22, 2023 -
Permission granted by Blue Bottle
Nestlé’s Blue Bottle brews up interest in premium coffee through ultra-rare launch
The offering is part of the brand’s Exceedingly Rare program from single origin coffees that are often available in small quantities. The current batch came from about 290 pounds of beans.
By Christopher Doering • Feb. 22, 2023 -
Courtesy of Soylent
Soylent acquired by Starco Brands
The price paid for the plant-based nutritional beverage and snack brand was not disclosed by either company.
By Megan Poinski • Feb. 22, 2023 -
Courtesy of Perfect Day
Precision Fermentation Alliance forms to promote understanding of the technology
The new trade group, formed by nine leading companies in the space, is the latest industry coalition formed to promote an up-and-coming food technology.
By Megan Poinski • Feb. 21, 2023 -
Christopher Doering/Food Dive
Nestlé sells fewer products after raising prices
The world's largest food company said it's planning further price increases as it hasn't been able to offset the impact of inflation.
By Christopher Doering • Feb. 21, 2023 -
Megan Poinski/Food Dive
Miyoko’s Creamery sues its namesake founder over accusations of stealing proprietary information
Miyoko Schinner was terminated from her CEO role last June, but the company did not announce it had parted ways with her until last week.
By Megan Poinski • Feb. 21, 2023 -
Scott Olson via Getty Images
Meat plant sanitation service fined $1.5M for child labor violations
Packers Sanitation Services, Inc. paid the sum after regulators found at least 102 children were working overnight shifts at 13 plants owned by companies like JBS and Cargill, a U.S. Department of Labor briefing said.
By Chris Casey • Feb. 21, 2023 -
Courtesy of Kellogg
ColumnLeftovers: Morningstar Farms fries up Chik’n with Pringles; Reese’s aims to tame animal crackers
Kellogg is harnessing the power of its classic snack for its new plant-based meat offering, and frozen Italian meals brand Michael Angelo’s enters a new category with a line of pasta sauces.
By Chris Casey • Feb. 17, 2023 -
Courtesy of Impossible Foods
Impossible Foods cutting 132 workers in California, state filing shows
The staff reduction, which is occurring as the plant-based meat industry grapples with falling sales, comes four months after the company cut about 6% of its employees.
By Christopher Doering • Feb. 17, 2023 -
Permission granted by Kraft Heinz
Kraft Heinz to launch IHOP coffee in April
The offering, part of a multi-year agreement with the restaurant chain, will allow the CPG to tap into its current expertise in the beverage category with its Maxwell House brand.
By Megan Poinski • Feb. 16, 2023 -
Courtesy of International Flavors & Fragrances
Activist investor Third Point takes $240M stake in IFF
While many details surrounding the deal remain unknown, Daniel Loeb’s firm has a history of getting involved with food companies and agitating for change.
By Megan Poinski • Feb. 16, 2023
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