Corporate Operations: Page 50

  • IFF logo
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    Courtesy of International Flavors & Fragrances
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    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 • Feb. 16, 2023
  • Three bags of IHOP-branded coffee in Chocolate Chocolate Chip, Signature Blend and Buttery Syrup flavors, against a blue background.
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    Permission granted by Kraft Heinz
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    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 • Feb. 16, 2023
  • Mergers and acquisitions Explore the Trendline➔
    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
  • Bodyarmor, coca-cola, sports drink
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    Retrieved from BodyArmor.
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    Coca-Cola struggles to integrate $5.6B purchase of BodyArmor

    The purchase of the sports drink, the largest in the company’s history, led to more “disruption in the short-term” than expected, CEO James Quincey said, but he remains optimistic about the brand’s future.

    By • Feb. 15, 2023
  • Inside a grocery store, a grocery shopper browses the meat selection where a "low price" sign hangs.
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    Brandon Bell via Getty Images
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    Food inflation to remain volatile despite recent improvements, trade group says

    While prices in January increased 11.3% compared to the same month a year earlier, the annual rate was the lowest since April, according to the government — a sign the surge in grocery costs could be moderating.

    By • Feb. 14, 2023
  • "Breaking Bad" star Bryan Cranston poses with a bag of PopCorners for the brand's Super Bowl LVII ad teaser.
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    Courtesy of Frito-Lay
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    Opinion

    Why brands need to pay attention to this year’s ‘Snack Bowl’

    Brands are starting to place a heavier focus off the big screen and onto social media platforms, writes Joe Charnitski, director of customer experience management best practices at Sprinklr.

    By Joe Charnitski • Feb. 14, 2023
  • TreeHouse Foods logo on a white background
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    Courtesy of TreeHouse Foods
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    TreeHouse Foods looking to M&A to improve manufacturing capacity

    While demand has increased for private label items, the company has not been able to fully capitalize on it because of pervasive supply chain issues.

    By • Feb. 14, 2023
  • Overhead view of several fancy chocolates made from white, milk and dark chocolate crowded lying together. A red heart piece is near the upper left corner.
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    AnnaPustynnikova via Getty Images
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    How chocolate makers inspire devotion from consumers on Valentine’s Day

    Shoppers spent about $4 billion on candies for loved ones in 2022, and that is projected to increase in 2023. Here’s how Godiva and Ferrero work to make sure people pick up their confections.

    By • Feb. 14, 2023
  • A small white plate of scrambled Just Egg and toast with a fork resting on it sits on a white marble surface. A coffee cup, salt and pepper shakers, a Just Egg bottle and skillet are nearby,
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    Courtesy of Eat Just
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    How Just Egg delivers as the market scrambles

    The plant-based substitute has seen record velocities and increased demand in recent months, but leaders say it hasn’t changed the company’s mission.

    By • Feb. 13, 2023
  • Tofurky's Plant-Based Roast
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    Courtesy of Tofurky
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    Tofurky bought by Morinaga Nutritional Foods for undisclosed amount

    The plant-based meat pioneer has worked with the division of the Japanese dairy giant for 17 years, and the acquisition will help strengthen its supply chain and bolster future expansions.

    By • Feb. 10, 2023
  • Packaging for Kellogg's MorningStar Farms Incogmeato brand.
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    Courtesy of Kellogg
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    Kellogg will not split off its plant-based brands

    The CPG giant — which saw sales increase 12% in its last quarter — is holding on to MorningStar Farms and only breaking off its cereal brands, CEO Steve Cahillane said on the earnings call.

    By • Feb. 10, 2023
  • ingredion
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    Christopher Doering/Food Dive
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    As CPG needs shift, Ingredion accelerates change within

    From hiring workers with expertise in snacking or alternative sweeteners to bulking up its portfolio, the ingredients provider is quickly adapting to an ever-growing list of demands from its customers and shoppers.

    By • Feb. 9, 2023
  • Post, pet food
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    Courtesy of Post Holdings
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    Post enters pet food category through $1.2B deal with J.M. Smucker

    The deal, which includes Rachael Ray Nutrish and Kibbles ‘n Bits, gives the Pebbles cereal and Peter Pan peanut butter producer a prominent presence in a category dominated by Mars, Nestlé and General Mills.

    By • Feb. 9, 2023
  • Three boxes of Kellogg's Honey Smacks cereal from 2018
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    Courtesy of Kellogg
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    Kerry accepts $19.2M fine for 2018 salmonella outbreak in Honey Smacks

    The food and ingredients company pleaded guilty to knowingly manufacturing the Kellogg cereal in an unsanitary facility. The company’s former director of quality assurance will be sentenced next week on related charges.

    By • Feb. 9, 2023
  • J&J Snack Foods' frozen beverage business, which includes ICEE products, was not affected by ERP conversion issues.
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    "ICEE" by Steve Snodgrass is licensed under CC BY 2.0
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    J&J Snack Foods to add 3 new distribution centers in bid to simplify network

    The snack maker says the new facilities will boost efficiencies by reducing party logistics locations.

    By Kate Magill • Feb. 8, 2023
  • Cows, cattle, eating feed
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    Nikola Stojadinovic via Getty Images
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    Tight supplies will lead to lower margins for meat producers in 2023: S&P report

    The nation's most popular credit rating agency said volatile dynamics will drive protein companies to make more cautious decisions and limit investments.

    By • Feb. 8, 2023
  • The entrance of a grey, rectangular building with a cyan blue Motif logo on it. There's an empty parking lot and green lawn in front, trees behind it, and several dark windows.
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    Courtesy of Motif FoodWorks
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    Motif FoodWorks expands business to help startups

    The biotech company now offers fermentation and bioprocessing services at bench scale at its new 65,000-square-foot hub near Boston.

    By • Feb. 8, 2023
  • tyson foods truck
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    "Tysons Food Donation 2012" by Central Texas Food Bank is licensed under CC BY-ND 1.0
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    Tyson earnings miss expectations as chicken demand dips, beef costs increase

    The meat giant's CEO Donnie King said in its earnings call Monday that weaker consumer demand and operational difficulties hampered the company's sales over the quarter.

    By • Feb. 7, 2023
  • PepsiCo, Frito-Lay
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    Christopher Doering/Food Dive
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    Inside PepsiCo’s strategy to grow its iconic $21B snacking portfolio

    Parth Raval, the division's chief growth officer, said the CPG giant is exploring different ingredients, packaging formats and flavor offerings to strengthen its dominant presence in the category.

    By • Feb. 7, 2023
  • mccormick
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    Courtesy of McCormick
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    McCormick cutting jobs as part of $75M in cost savings in 2023

    The flavoring giant, which has yet to announce how many employees would be impacted or when, said the staff reductions would be both voluntary and involuntary.

    By • Feb. 7, 2023
  • A bottle of D'Usse cognac sits on an old wooden bar next to a gold-rimmed old fashioned glass and cocktail glass, both which have the gold D'Usse cross. A small white box is next to the bottle.
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    Jerritt Clark via Getty Images
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    Bacardi buys majority of Jay-Z’s cognac brand, ending legal battle

    The entertainer and businessman created D’Ussé with the alcohol maker, but filed a series of lawsuits challenging the company’s valuation of his share.

    By • Feb. 6, 2023
  • Three black heart-shaped boxes of Sour Patch Kids Sour Hearts candy, with black candy hearts around them. The candy and boxes are on a black background with red broken hearts.
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    Courtesy of Mondelez International
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    Column

    Leftovers: Sour Patch Kids paints Valentine’s Day black; Häagen-Dazs crafts butter cookie cones

    The Mondelēz-owned brand targets consumers who aren’t fond of the romantic holiday with its new candy, and Nutella debuts its first new snacks in the U.S. in more than a decade.

    By Food Dive staff • Feb. 3, 2023
  • kellogg rice farming ag farmers
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    Courtesy of Kellogg
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    Kellogg sees positive results from sustainable rice farming pilot

    The cereal giant said the project, focused in the Lower Mississippi River Basin growing area, will inform its approach to other sustainability endeavors.

    By • Feb. 2, 2023
  • halo top desserts baking
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    Courtesy of Halo Top
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    Halo Top enters baking mix category

    The maker of better-for-you treats is launching its first product lines outside the ice cream space after another year of slowing sales for its flagship frozen desserts.

    By • Feb. 2, 2023
  • Eggs on shelves at a grocery store.
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    Catherine Douglas Moran/Food Dive
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    Egg prices to remain high for as long as bird flu continues, experts say

    After prices more than doubled over the past year, producers are grappling with the impact of the virus while politicians and activists call for investigations into potential price gouging.

    By • Feb. 2, 2023
  • Dole, produce
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    Retrieved from Dole.
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    Dole selling its fresh vegetables division for $293M to Chiquita subsidiary

    The fresh produce giant said proceeds from the sale of the division, which generated revenue of $1.28 billion in 2021, will be used primarily to pay down debt.

    By • Feb. 1, 2023