Corporate Operations: Page 71
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Photo by Canva Studio from Pexels
PepsiCo, Coca-Cola prioritize diversity with latest moves
The parent company of Frito-Lay launched a business unit to support diverse partners and suppliers, while the Atlanta-based beverage giant said it will tie executives' annual incentive to reaching its DEI goals.
By Chris Casey • Feb. 24, 2022 -
Courtesy of The Kraft Heinz Not Company LLC
Kraft Heinz enters joint venture with NotCo
The partnership will develop and produce plant-based co-branded products, combining the CPG giant's vast portfolio and reach with the startup's ability to reimagine animal-derived food.
By Megan Poinski • Feb. 23, 2022 -
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 -
Courtesy of Kind
Kind CEO pushing bar giant beyond its signature product
Russell Stokes, who took the helm last October, is looking to add new ingredients to the company's bars and further increase its offerings in both breakfast and frozen foods.
By Christopher Doering • Feb. 23, 2022 -
Christopher doering/Food Dive
Deep DiveOnce an afterthought, brand licensing reaps billions for CPGs hungry for growth
Hershey, Conagra and Post are a few companies using the strategy to expand their business, build equity and keep products relevant.
By Christopher Doering • Feb. 22, 2022 -
Courtesy of Hostess Brands
Hostess gives Donettes doughnuts a jolt with addition of caffeine
The sweet snack, which is three times bigger than the average mini Donettes, contains nearly the same amount of the stimulant as one cup of coffee.
By Christopher Doering • Feb. 18, 2022 -
Fiona Goodall via Getty Images
Kerry buys 2 biotech companies for more than $226M
The acquisition of Germany's C-LEcta and Mexico's Enmex will help the Irish ingredients company expand its enzymes and precision fermentation business.
By Megan Poinski • Feb. 17, 2022 -
Courtesy of Northwest Dairy Association/Darigold
Dairy export working group pursues solutions for hard-hit industry
Supply chain woes are costing U.S. dairy companies millions and damaging exporter credibility, according to the IDFA.
By Colin Campbell • Feb. 17, 2022 -
Spencer Platt via Getty Images
Kellogg to invest $2M in program helping rice farmers cut greenhouse gas emissions
The CPG giant will work closely with producers in the Lower Mississippi River Basin who grow the commodity, a key ingredient in its Rice Krispies and Special K cereals.
By Chris Casey • Feb. 16, 2022 -
Courtesy of Nestlé
Nestlé's Outshine expands from frozen fruit bars to shelf-stable smoothie pouches
The third-highest-selling frozen novelty, with an estimated $480 million in annual sales, has thrived with consumers because of its single-serve delivery and better-for-you mantra.
By Christopher Doering • Feb. 16, 2022 -
Courtesy of J.M. Smucker Co.
Inside Folgers' plan to swap its fusty reputation for punk-rock rebelliousness
A new ad campaign is drawing out the unsung New Orleans roots for the J.M. Smucker coffee brand and focusing on a craft story millennials care about.
By Peter Adams • Feb. 15, 2022 -
Spencer Platt via Getty Images
Wheat's inflationary yearFood prices rise in January, led by flour and baked goods
Five of the six major food groups saw increases in January, with meat, poultry and eggs seeing the greatest 12-month increase, according to the latest Consumer Price Index data.
By Chris Casey • Feb. 14, 2022 -
Permission granted by Dreyer's Grand Ice Cream
After divestiture by Nestlé, sales heating up at Dreyer's Grand Ice Cream
The company, which posted its fastest growth rate in years in 2021, is investing half a billion dollars to boost manufacturing, marketing and innovation for brands like Häagen-Dazs and Drumstick.
By Christopher Doering • Feb. 14, 2022 -
Courtesy of International Flavors & Fragrances
IFF adds Icahn-recommended member to board
Church & Dwight Chief Marketing Officer Barry Bruno will be one of eight new board members of the ingredients giant, which will also get a new CEO next week.
By Megan Poinski • Feb. 10, 2022 -
Megan Poinski/Food Dive
Utz Brands names CIO, adding to C-suite overhaul
Satyaki Lodh will focus on helping the snack food company absorb acquisitions and expand nationally.
By Naomi Eide • Feb. 10, 2022 -
Tyson's profits soar amid higher meat prices
Shares of the company hit an all-time high this week after it reported that demand for its meat products has not eased despite price increases.
By Chris Casey • Feb. 9, 2022 -
Megan Poinski/Food Dive
Empty shelves sapped food retailers of $82B in CPG sales last year
Lost revenue opportunities peaked during the fall, when surging COVID-19 infections depressed on-shelf availability and pushed unrealized sales to $1.7 billion per week, according to data from NielsenIQ.
By Sam Silverstein • Feb. 9, 2022 -
Permission granted by Everything Legendary
Plant-based burger Everything Legendary raises $6M with backing from General Mills
Entrepreneur Russell Simmons also became a senior advisor to the Maryland-based brand, which was jumpstarted with a 2021 appearance on "Shark Tank."
By Megan Poinski • Feb. 8, 2022 -
Getty Images
Deep DiveWhy famous people are joining food tech advisory boards
Hollywood A-listers including Leonardo DiCaprio and Ashton Kutcher, former government officials and other household names are working with companies, lending their expertise and cachet.
By Megan Poinski • Feb. 8, 2022 -
Permission granted by Hormel Foods
Hormel Foods' snack brands thrive behind 'transformative' $3.35B Planters buy
The acquisition, the largest in the company's 131-year history, immediately became its biggest brand and opened up shelf space for other offerings in its portfolio.
By Christopher Doering • Feb. 7, 2022 -
Courtesy of The Icelandic Milk and Skyr Corporation
Lactalis CEO Philippe Palazzi leaves dairy giant amid disagreement over strategy
The owner of Stonyfield and Siggi's offered few details on the departure except to note that the outgoing leader "made it possible to achieve the financial objectives" it set out for 2021.
By Christopher Doering • Feb. 7, 2022 -
Christopher Doering/Food Dive
Mondelēz picks insider as North American president as Glen Walter heads to Tropicana
Gustavo Valle will run the $8.3 billion business overseeing brands such as Oreo and Ritz in the U.S. and Canada, starting March 1.
By Christopher Doering • Feb. 7, 2022 -
Brian Ach via Getty Images
Tyson breaks ground on $355M bacon plant in Kentucky that will create 450 jobs
The meat and poultry processor will use the facility to make the pork product for its Wright and Jimmy Dean brands as demand for the protein increases.
By Chris Casey • Feb. 3, 2022 -
Courtesy of Chobani
Chobani deepens presence in dairy with move into milk, half and half
The new products will give the company access to markets collectively worth nearly $3 billion while further diversifying its product mix beyond its iconic Greek yogurt.
By Christopher Doering • Feb. 3, 2022 -
Courtesy of Orgain
Nestlé to buy majority stake in protein powder maker Orgain
The deal accelerates the CPG giant's push to grow its health and wellness business while selling parts of its slower-growing food and beverage division.
By Christopher Doering • Feb. 3, 2022 -
Retrieved from U.S. District Court, Northern District of Illinois.
Ferrara wins lawsuit banning look-alike THC-laced Nerds
The ruling — in which edibles maker Higharchy has been directed to pay all profits from the copycat products to the Chicago confectioner — is the latest in a string of defeats for marijuana candy companies.
By Megan Poinski • Feb. 2, 2022
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