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Food finance
The food industry is in constant financial motion; there’s always some company snapping up the assets of another, or reporting on a radical new strategy aimed at protecting its profits. The latest money moves can have a big impact on ingredient supply, so it pays to keep up to date.
B Corp concept harnesses profit for social good, co-founder says
One of the inventors of the B Corporation concept, Andrew Kassoy, said his goal was to find a way to harness the entrepreneurial spirit to solve social problems. Along the...
FBI probes suspicious trading in Heinz shares prior to Buffett mega-deal
The FBI is joining an investigation into suspicious trading in Heinz shares the day before it announced that it had agreed to be taken over by Berkshire Hathaway and 3G...
Buffett investment group Berkshire Hathaway teams up with 3G to buy Heinz in $23bn mega-deal
UPDATED - H.J. Heinz Co. has agreed to be acquired by Warren Buffett’s Berkshire Hathaway investment firm and Brazilian private-equity giant 3G Capital for $23.3bn, in what it claims is...
Analyst: Ditching Skippy continues to skew Unilever towards faster-growing emerging markets
Offloading Skippy peanut butter - which still generates the majority of its $370m annual sales in the mature US market - will continue to skew Unilever’s portfolio towards faster-growing emerging...
Hormel Foods to acquire Skippy peanut butter from Unilever
Unilever has struck a deal to sell its Skippy peanut butter business to Hormel Foods for approximately $700m.
Q3 wrap: Nutrition stars for DSM and Naturex
Royal DSM saw Q3 sales slip 7% to €2.3bn across all divisions with polymer intermediates performing worst, but as has been the case in recent quarters, the Dutch firm’s nutrition...
Emerging markets continue to drive Nestlé sales
Food and nutrition giant Nestlé has reported improved sales in its 9-month results driven by growth in emerging markets, but Q3 was a little slower than last year.
Hostess seeks to impose bankruptcy-exit deal in court after union rejects ‘outrageously unfair’ final offer
Hostess Brands is seeking a legal means to force members of the union representing a big chunk of its staff to accept a deal they have rejected by an overwhelming...
News in brief
2012: The year of fewer, bigger, deals in health & wellness, and a sharp rise in financing
The number of mergers and acquisitions in the US nutrition, health and wellness market was down by almost 40% in the first half of 2012*, according to Nutrition Capital Network (NCN).
Wind Point partners with ex-Sara Lee CEO in Shearer Foods acquisition
Private equity firm Wind Point Partners has agreed to acquire Ohio-based Shearer’s Foods for an undisclosed sum – and has partnered with former Sara Lee CEO C.J. Fraleigh, who will...
What do the most successful CPG companies have in common?
Investment in emerging channels, the Hispanic market, and employee development are among the strategies that set the most profitable consumer packaged goods firms apart from their peers, finds a new...
MOM Brands completes expansion at North Carolina facility
MOM Brands intends to add more than 50 jobs at its Asheboro, North Carolina facility by the end of November, as it completes an expansion project that doubles its size,...
Kraft Foods agrees to divest controlling stake in Back to Nature brand
Kraft Foods has agreed to divest a controlling stake in its Back to Nature brand food business for an undisclosed sum ahead of the company’s split in October.
Teamsters says it cannot endorse Hostess ‘final offer’ – but puts it to union vote
The Teamsters union has said it cannot endorse a “final offer” put forward by Hostess Brands, which includes an 8% pay cut in the first year of a five-year contract,...
IFF posts 16% boost in Q2 net profit
Pressure from raw material costs has started to ease for International Flavors and Fragrances (IFF), which reported a 16% increase in net profit and a 1% increase in net revenue...
SunOpta net profit rockets 85% on packaged foods sales
Canadian natural and organics group SunOpta has reported an 85% profit surge in the second quarter of 2012 driven by strong growth in packaged foods sales.
MGPI narrows loss, aims to ease corn cost impact
Corn costs continued to hit MGP Ingredients’ results in the second quarter, although it narrowed its loss from $10.3m a year ago to $850,000.
White House responds to ‘historic’ drought with $30m disaster aid
The worst drought to hit the United States in half a century is having dramatic effects on crop and livestock production, President Obama said in a White House briefing Tuesday,...
Cargill full year earnings ‘not up to expectations’: CEO
Cargill has reported an 82% slump in profit for the fourth quarter and a 56% drop for the fiscal year, citing cyclical trends in soybean processing and American beef, as...
Nestlé first half results: Pros and cons
Europe and North America were the worst performing regions for Nestlé according to its first half (H1) results, while Asia, Oceania, Africa and emerging markets delivered double digit growth.
Senomyx announces dual-purpose sweetness enhancer for HFCS and sucrose
San Diego-based flavor firm Senomyx has discovered a new taste modifier ingredient that can enhance the sweet flavor of both high fructose corn syrup (HFCS) and sucrose, allowing food manufacturers...
Kraft boosts profits 5% in Q2, reaffirms outlook
Kraft Foods reported a 5.4% rise in second quarter net profit, more than offsetting higher raw material costs and adverse effects of currency exchange rates, the company said on Thursday.
The fight against obesity: A new investment megatrend?
Obesity is a ‘global sustainability megatrend’ likely to take decades to address – but it could also provide opportunities for investors looking to support those industries aiming to be part...
ConAgra to acquire Unilever’s North American frozen foods business in $265m deal
ConAgra Foods has agreed to acquire Bertolli and P.F. Chang’s Home Menu frozen meals businesses from Unilever for $265m, as part of a strategy to continue its growth in the...
Cargill acquires beef processing facility from firm crushed by ‘pink slime’ coverage
Cargill has acquired a beef processing facility for $14.1m from AFA Foods, which filed for Chapter 11 bankruptcy in the wake of a wave of media coverage over lean finely...
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