IFF profits slump 56% on ‘unprecedented’ raw material costs

10-Feb-2012 - International Flavors and Fragrances (IFF) saw net profits slump 56% in the fourth quarter due to one-off costs and ongoing high raw material prices, but adjusted results were largely in line with analysts’ expectations.

Q4 net profit soars 83% at Corn Products International

10-Feb-2012 - Net profit soared 83% at Corn Products International in the fourth quarter of 2011 on the back of higher sales, increased prices, and a one-off accounting gain, the company said Thursday.

PepsiCo to cut 8,700 jobs as part of growth strategy

09-Feb-2012 - PepsiCo plans to cut 8,700 jobs, with a particular focus on North America, as part of a wider strategy to drive growth, the company said on Thursday.

Ralcorp completes Post cereals spin-off

06-Feb-2012 - Ralcorp Holdings has completed the separation of its Post Holdings cereals business, through a tax-free spin-off to Ralcorp shareholders, the company has said.

Florida bill to prohibit “junk” SNAP food purchases passes committee

01-Feb-2012 - A Florida State Senate Committee has passed a bill intended to restrict purchases of certain foods under nutrition assistance programs, such as Food Stamps, or SNAP (Supplementary Nutrition Assistance Program).

ADM profits shrink 89% on higher corn costs

31-Jan-2012 - Grain processing giant Archer Daniels Midland (ADM) has seen its second quarter profit shrink 89% on higher corn costs and lower oilseed earnings, although sales have grown, the company said on Tuesday.

Naturex introduces fruit- and vegetable-derived colors in the US

27-Jan-2012 - Natural extracts manufacturer Naturex has introduced a new range of fruit and vegetable-derived colors in the United States, as part of its NAT color range.

Danisco acquisition provides bright spot for DuPont in 2011

25-Jan-2012 - DuPont benefited from last year’s acquisition of Danish specialty food ingredient company Danisco in the fourth quarter of 2011, as revenue more than doubled in its nutrition and health business – although the chemical group’s overall profit fell slightly.

Kraft to cut 1,600 jobs in preparation for company split

18-Jan-2012 - Kraft Foods has said it will cut about 1,600 jobs from its US and Canadian workforce over the next 12 months, as it prepares to split into two separate companies.

Ralcorp board approves Post cereals spin-off

18-Jan-2012 - Ralcorp has outlined the shape of the company after it spins off its Post cereals business, four years after it bought the maker of Grape-Nuts, Raisin Bran and Honey Bunches of Oats from Kraft Foods for $1.65bn.

Hostess financial woes due to 'ineffective executives', says union leader

13-Jan-2012 - A major bakery workers union has hit out against Hostess Brands for its assertion that pensions obligations were a principal reason for its Chapter 11 bankruptcy filing, blaming 'ineffective executives' instead.

ADM to slash 1,000 jobs

12-Jan-2012 - Archer Daniels Midland (ADM) intends to cut 1,000 jobs, or about 3% of its global workforce, as part of an effort to save about $100m a year, the company said on Wednesday.

Imperial Sugar loss widens, shares fall to year-low

11-Jan-2012 - Imperial Sugar’s share price slumped to a 52-week low on Wednesday, after it reported a wider net loss in the fourth quarter and missed analyst expectations by $1.84.

Twinkies maker Hostess Brands files for bankruptcy

11-Jan-2012 - Wonder bread and Twinkies maker Hostess Brands has filed for Chapter 11 bankruptcy to allow it to restructure, but does not expect to stop producing or delivering any of its products during the process, the company said on Wednesday.

Cargill reports third consecutive quarter of squeezed margins, profits plunge 88%

10-Jan-2012 - Cargill has reported an 88% drop in profits in the second quarter, as volatile financial markets hit its commodity-based trading and asset management businesses.

Distributor Batory Foods acquires Mac & Massey

06-Jan-2012 - Food and ingredients distributor Batory Foods has acquired Atlanta, Georgia based ingredient broker and distributor Mac & Massey for an undisclosed sum, although the company is calling it the largest acquisition in its 33-year history.

US dairy sector beat fiscal doldrums in 2010, IDFA

03-Jan-2012 - 2010 world dairy market prices recovered from lows caused by the world financial crisis the year before, according to a new report from the US-based International Dairy Foods Association (IDFA).

ConAgra squeezed by higher food costs, but beats expectations

20-Dec-2011 - Food manufacturer ConAgra Foods has reported a 14% drop in its second-quarter profits, under pressure from higher food commodity costs, despite increased sales.

Diamond shares fall to two-year low on news of SEC probe

16-Dec-2011 - Diamond Foods shares fell to their lowest level in two years on Thursday, after the company said it had received a formal order of investigation from the US Securities and Exchange Commission (SEC) regarding the accounting of its payments to walnut growers.

'Not about tree-hugging': Sustainability is simply good for business

15-Dec-2011 - Companies should be concerned about their environmental sustainability - but it has more to do with ensuring profitability than it does with saving the planet, according to president of Bluehorse Associates Sara Pax.

Hershey to acquire Canadian confectionery firm Brookside Foods

09-Dec-2011 - The Hershey Company has said it will acquire Canadian confectionery firm Brookside Foods for an undisclosed sum.

Cargill to cut 2,000 jobs from global workforce

05-Dec-2011 - Cargill has said it will cut 2,000 employees from its global workforce over the next six months, citing a continued weak economy.

P&G reaffirms commitment to Pringles sale after Diamond shares slump

28-Nov-2011 - Procter & Gamble has reaffirmed its commitment to complete the sale of global snack brand Pringles to Diamond Foods by June 2012, despite a sharp fall in Diamond’s share price last week.

Special edition: Dealing with higher commodity costs

‘Inflationary pressures have reached their worst’: USDA economist

28-Nov-2011 - “I think it’s safe to say that inflationary pressures have reached their worst,” claims research economist Ricky Volpi of the USDA’s Economic Research Service, in an interview with FoodNavigator-USA.