Corporate Operations: Page 95
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Courtesy of The Hershey Co.
ColumnLeftovers: Whozeewhatzit? It's Hershey's new offering; Pebbles cereal enters the ice age
The Pennsylvania chocolate maker launches a new bar to complement the Whatchamacallit, and you can have the mango in Yuengling's new brew.
By Food Dive staff • Feb. 5, 2021 -
Permission granted by Chobani
The road to Chobani's IPOChobani considering 2021 IPO valuing it at up to $10B, WSJ reports
Chobani Founder and CEO Hamdi Ulukaya said the company will look at "all options carefully to fuel our ambitious plans" with a stock offering "definitely one exciting direction."
By Christopher Doering • Feb. 5, 2021 -
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 -
IFF and DuPont Nutrition & Biosciences have merged. What's next?
With the deal closed, the two large companies have formed an ingredients behemoth. As they integrate, analysts say the future for the sector as a whole looks bright.
By Megan Poinski • Feb. 4, 2021 -
Permission granted by Pairwise
Pairwise raises $90M to develop new fruit and vegetable varieties using CRISPR
The startup is using the gene-editing technology to make produce more palatable, such as by removing the bitterness from a nutrient-dense green or seeds from the outside of a blackberry.
By Christopher Doering • Feb. 4, 2021 -
Smithfield Foods hit with FTC complaint tied to sustainability claims
The nation's largest pork producer said the filing made by nine consumer and environmental groups "contains false allegations and is without merit."
By Christopher Doering • Feb. 4, 2021 -
Courtesy of Foster Farms
Tyson and Foster Farms begin COVID-19 vaccinations at some plants
The publicly traded meat giant also announced that Matrix Medical Network would address and monitor its efforts to protect workers from the virus.
By Megan Poinski • Updated Feb. 5, 2021 -
Catherine Douglas Moran/Food Dive
Big Food lost $12B in sales to small CPGs and private label in 2020, IRI says
The pandemic accelerated a five-year trend of large manufacturers losing market share to smaller players, but consumers' return to normal travel patterns should slow the momentum.
By Mike De Socio • Feb. 4, 2021 -
Permission granted by Anheuser-Busch
Anheuser-Busch to spend $1B on hard seltzer, sustainability in US plants
The maker of Bud Light and Michelob Ultra has been aggressively moving into the popular beverage, which has become a growth segment for many alcohol producers.
By Christopher Doering • Feb. 4, 2021 -
Hormel completes $3.35B purchase of Planters from Kraft Heinz
The acquisition by the Minnesota company complements its Skippy and Justin's offerings while allowing Kraft Heinz to focus its portfolio on faster-growing, trendier brands.
By Christopher Doering • Updated June 7, 2021 -
USDA
Cargill and National Beef added to Congressional probe on worker safety at meat processors
The two meat companies join JBS USA, Tyson Foods, and Smithfield Foods in facing inquiry from the House Select Subcommittee on the Coronavirus Crisis about outbreaks at their facilities.
By Christopher Doering • Updated Sept. 17, 2021 -
Uber buys alcohol delivery platform Drizly for $1.1B
The stock and cash deal comes as the profitable startup has seen demand surge during the pandemic with the service now offered in more than 1,400 cities.
By Christopher Doering • Feb. 2, 2021 -
Courtesy of Impossible Foods
Impossible Foods cuts grocery store prices 20%
The price decrease is the first since the plant-based burgers hit grocery shelves in 2019. It follows two 15% reductions in price to foodservice distributors during the past 12 months.
By Megan Poinski • Feb. 2, 2021 -
Courtesy of Peatos
Post Holdings leads $12.5M investment in PeaTos
This is the first Big Food funding for the challenger to PepsiCo's Frito-Lay and the latest move into the plant-based space by the CPG company best known for its breakfast offerings.
By Mike De Socio • Feb. 2, 2021 -
Spirits sales rose in 2020, but the pandemic and tariffs drag on future prospects
Distillers have the opportunity to ride a new wave of growth as vaccination rates grow and off-premise opens up, but they will need to maximize the tools at hand.
By Samantha Oller • Feb. 1, 2021 -
Smithfield pledges 10% sugar and sodium reduction in all products
Along with a promise for cleaner labels, the meat company added a health and wellness pillar to its sustainability commitment at a time when consumers want food that is better for them.
By Mike De Socio and Samantha Oller • Feb. 1, 2021 -
Courtesy of Future Meat Technologies
Future Meat Technologies makes cell-based chicken costing $7.50 and gets $26.75M funding
The Israel-based cultured meat company is planning to get its products on plates in 2022 — or earlier if regulatory agencies move faster.
By Megan Poinski • Feb. 1, 2021 -
Christopher Doering/Food Dive
Bang owner files suit against PepsiCo over distribution of new hard seltzer beverage
Quash Seltzer, which has common ownership with the energy drink brand, said the CPG giant is blocking its efforts to create a distribution network — causing economic harm "in the billions of dollars."
By Christopher Doering • Feb. 1, 2021 -
Courtesy of Kraft Heinz
ColumnLeftovers: Kraft Heinz thinks pink with Candy Mac & Cheese; Slice of Sauce makes condiments mess-free
The CPG giant puts a sweet spin on a pantry staple, and Gr8nola taps into girl power to create its latest peanut butter variety.
By Food Dive staff • Jan. 29, 2021 -
Courtesy of Hellowater
Hellowater partners with agricultural company on toxin-fighting beverage line
The collaboration with Brandt, which develops technologies to boost crop yields, represents the latest leap in functionality for the competitive enhanced water segment.
By Jessi Devenyns • Jan. 29, 2021 -
Courtesy of Stryve Foods
Stryve Foods set to go public with closing of SPAC deal
The merger with SPAC Andina Acquisition Corp. III was approved on Monday, with the biltong maker expected to begin trading on the NASDAQ on or about July 21.
By Christopher Doering • Updated July 20, 2021 -
Megan Poinski/Food Dive
Utz retires century-old Husman's snack brand
Flagging sales pushed the company to shutter the longtime Pennsylvania label, as it focuses on developing a salty snacks platform that is in line with modern consumer preferences.
By Jessi Devenyns • Jan. 28, 2021 -
Courtesy of BioNTech
CPG makers feel impact of 'inconsistent' vaccination program, trade group says
In a memo to the White House, the Consumer Brands Association said states and counties have "have outright de-prioritized frontline essential workers," which includes 1.7 million of its members.
By Christopher Doering • Jan. 28, 2021 -
Courtesy of DouxMatok
DouxMatok names executives to bring Incredo Sugar to the US
The Israel-based maker of a sweetener that can reduce sugar content by 40% plans to have the ingredient in products this year.
By Megan Poinski • Jan. 28, 2021 -
Courtesy of Stony Brook WholeHeartedFoods
Pumpkin seeds shift beyond seasonal as their functional qualities shine
A good source of nutrients and crunch, the high-protein, highly versatile ingredient is taking center stage in snacks, cereals and even oils.
By Samantha Oller • Jan. 28, 2021 -
Courtesy of Courtesy of Sproud
Sproud raises $6.6M for North American expansion of pea-protein milk
The company is tackling the crowded U.S. dairy alternatives market with a sustainability hook, and the potential of repeating the success of fellow Swedish plant-based milk manufacturer Oatly.
By Samantha Oller • Jan. 27, 2021
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