Corporate Operations: Page 53
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Courtesy of Hershey, Unilever
Reese’s enters the frozen aisle through Hershey and Unilever partnership
The collaboration between the longtime business allies allows the peanut butter and chocolate candy to expand its presence in stores, and brings a distinctive offering in ice cream treats.
By Christopher Doering • Jan. 6, 2023 -
Courtesy of Benson Hill
Benson Hill sells Fresh division for $21M to concentrate on ingredients
Agribusiness company IMG Enterprises closed on its Florida facility, real estate, and packhouse at the end of 2022 and will complete the transaction through a stock purchase this year.
By Megan Poinski • Jan. 6, 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 -
Retrieved from Eastern Standard Provisions.
Mondelēz participates in $13.5M funding round for soft pretzel maker
With the investment in Eastern Standard Provisions, Tapan Shah, head of venture capital for the CPG giant’s SnackFutures arm, became a director at the company.
By Christopher Doering • Jan. 5, 2023 -
Catherine Douglas Moran/Food Dive
Oatly sells some manufacturing capacity to co-packer Ya YA Foods for $98.1M
After a year plagued with production problems, the publicly traded company will focus on its proprietary oat base, while the Canadian co-manufacturer will take over its Utah and Texas plants.
By Megan Poinski • Jan. 4, 2023 -
Christopher Doering/Food Dive
Exclusive: PepsiCo to bring iconic chip brands into new snacking categories in 2023
Cheetos-flavored pretzels, Doritos co-branded jerky and a cracker with one of its major chip brands will allow the CPG giant to change how shoppers view its snacks and increase occasions when they are consumed.
By Christopher Doering • Jan. 4, 2023 -
paci77 via Getty Images
Cal-Maine hits record earnings as egg prices skyrocket, but shares drop
The largest egg producer in the U.S. said bird flu ravaging flocks led to a 110% year-over-year sales increase in its most recent quarter, but there are some signs prices of the protein could recede as the new year takes hold.
By Chris Casey • Jan. 3, 2023 -
Courtesy of Moolec Science
Moolec Science begins trading on Nasdaq
The company is the first to use a process it calls molecular farming — using bioengineered plants to produce animal proteins — to go public.
By Megan Poinski • Jan. 3, 2023 -
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 -
Nordroden via Getty Images
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 -
Dmytro Skrypnykov via Getty Images
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 -
Hispanolistic via Getty Images
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
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