Finances and Deals: Page 3
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Permission granted by Whole Earth Brands
Equal owner Whole Earth Brands to go private in sweetened takeover bid
The company, which has been exploring strategic alternatives, agreed to a $4.875 per share offer by an affiliate of Sababa Holdings FREE. The deal is expected to close in the second quarter.
By Christopher Doering • Feb. 13, 2024 -
Courtesy of Gin & Juice By Dre and Snoop
Snoop Dogg, Dr. Dre bring hit ‘Gin & Juice’ to the beverage space
Thirty years after the two unleashed the namesake song to the public, the rappers have partnered on a RTD cocktail offering.
By Chris Casey • Feb. 13, 2024 -
Courtesy of Kellanova
Kellanova to close US frozen foods plant, UK factory
The closures are part of the CPG giant’s cost-cutting plan, which it accelerated after spinning off its cereal business in 2023.
By Chris Casey • Feb. 9, 2024 -
Permission granted by Equinom
Louis Dreyfus building new pea protein facility
An increasing shift to plant-based protein, especially for dairy products, is driving demand for the ingredient.
By Rose Palazzolo • Feb. 8, 2024 -
Courtesy of Cometeer
Seth Rogen’s lifestyle brand partners with frozen coffee maker
The collaboration is the first product in the food and beverage space from the actor’s brand which targets cannabis consumers.
By Chris Casey • Feb. 6, 2024 -
Justin Sullivan via Getty Images
Surging cocoa prices could lead to Valentine’s Day sticker shock
Supply remains scarce due to heavy rains and the spread of black pod disease in West Africa, according to a recent CoBank report.
By Sarah Zimmerman • Feb. 6, 2024 -
Courtesy of White Claw
Behind White Claw’s big nonalcoholic seltzer bet
The hard seltzer pioneer is targeting drinking-aged consumers who are looking to imbibe less or stop altogether, a top executive said.
By Chris Casey • Feb. 6, 2024 -
Joe Raedle via Getty Images
Tyson signals ‘bold actions’ are working amid beef headwinds
After several plant closures last year, more cost-cutting could be on the horizon with the CEO vowing that “everything remains on the table.”
By Nathan Owens • Feb. 6, 2024 -
akinoreV via Getty Images
OpinionWhy a new ‘tomato tax’ is rotten to the core
Suspending the tomato trade agreement between the U.S. and Mexico would cost jobs and lead to higher prices for retailers and consumers, a NatureSweet exec writes.
By Skip Hulett • Feb. 5, 2024 -
Permission granted by Meati Foods
Meati Foods names CPG veteran to CFO as company juggles growth, profitability
The appointment of Phil Graves comes amid a slowdown in plant-based sales as cash-strapped consumers watch their spending.
By Christopher Doering • Feb. 5, 2024 -
Dylan Rives via Getty Images
Keurig Dr Pepper expands partnership with Lavazza
The beverage giant will sell and distribute Lavazza’s K-Cups more widely while introducing the Italian company's Kicking Horse brand to the popular pod format.
By Christopher Doering • Feb. 2, 2024 -
Courtesy of Phytolon
Phytolon, Ginkgo Bioworks reach milestone with natural colors
The biotech companies developed a range of yellow to purple hues using yeast fermentation, with the intent of bringing the products to market soon.
By Chris Casey • Feb. 1, 2024 -
Brandon Bell via Getty Images
Food trends for 2024: What’s to come this year
Inflation, consumer fatigue over price increases and other factors continue to weigh on companies. Everything from beverages to snacking is set to change in the year ahead.
By Food Dive staff • Jan. 31, 2024 -
Retrieved from Utz Quality Foods Inc. on November 14, 2023
Utz to sell 2 brands and manufacturing facilities to Popchips owner for $182.5M
The transaction will help the pretzel and chip maker improve its supply chain, reduce its debt and better position its portfolio for growth.
By Christopher Doering • Jan. 31, 2024 -
Retrieved from J.M. Smucker.
J.M. Smucker discontinues Knott’s Berry Farm jam and cookie brand
A spokesperson said the decision was part of the company’s strategy to “evaluate our portfolio and ensure we are dedicating resources to the areas with the greatest growth potential.”
By Christopher Doering • Jan. 25, 2024 -
Permission granted by Pureture
Plant-based casein maker lands first commercial partner
Pureture’s partnership with South Korean dairy manufacturer Namyang “validates the functionality” of its product.
By Elizabeth Flood • Jan. 25, 2024 -
Retrieved from Mars.
Mars to build $237M facility for its Nature’s Bakery brand in Utah
The plant will meaningfully increase capacity for the granola and snack bar brand, which has become the eighth best-selling and fastest-growing product in the category.
By Christopher Doering • Jan. 24, 2024 -
Permission granted by Oatly
Oatly and Carvel partner to bring dairy-free flavors to stores nationwide
The self-described “cult classic ice cream shoppe,” will offer oat-based soft serve, scoops, and ice cream sandwiches in 18 states.
By Elizabeth Flood • Jan. 23, 2024 -
Christopher Doering/Food Dive
Celsius broadens international reach with distribution deals in Canada, UK
The energy drink maker also has identified Germany, Japan and Australia as “big opportunities” for new markets as it increases its reach outside the U.S.
By Christopher Doering • Jan. 22, 2024 -
Permission granted by Caribou Coffee
JDE Peet’s reaches $260M licensing deal with Caribou Coffee
The transaction will allow JDE Peet’s to expand its premium portfolio in North America, while giving Caribou the ability to focus on its growing coffeehouse business.
By Christopher Doering • Jan. 19, 2024 -
Courtesy of Molson Coors
ColumnLeftovers: Miller Lite freshens up mint aisle | Organic Valley’s latest milk is a no-brainer
The Molson Coors brand makes an appeal to Dry January participants while rapper Snoop Dogg's Broadus Foods ventures into frozen treats.
By Food Dive staff • Jan. 19, 2024 -
Courtesy of Imagindairy
Imagindairy promises to offer animal-free dairy at cost parity
The Israel-based food tech startup acquired its own industrial-scale, precision fermentation production lines focused on alternative dairy ingredients.
By Elizabeth Flood • Jan. 17, 2024 -
Courtesy of Diageo
Diageo settles legal dispute with Diddy over spirits brands
The alcohol giant, which is cutting ties with the rapper, will remain the sole owner of DeLeón tequila and Ciroc vodka.
By Chris Casey • Jan. 17, 2024 -
Retrieved from Ferrara.
Ferrara discontinues Fruit Stripe and Super Bubble gums
The company quietly ended production of both brands in 2022 amid a multi-year decline in consumption of the confection.
By Christopher Doering • Jan. 16, 2024 -
Courtesy of Farther Farms
Major french fry producer hit with potato surplus as restaurant demand falters
Lamb Weston reported a $71 million charge to write off the excess supply, with the processor noting inflation-wary consumers are dining out less.
By Sarah Zimmerman • Jan. 15, 2024
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