“Intense competitive activity in a sluggish shelf stable juice category” hit second quarter sales in Campbell Soup’s US beverage business, with revenues dipping 3% owing to the lackluster performance of V8 original vegetable juice, said bosses Friday.
Kraft Foods Group expects to post weaker-than-expected fourth-quarter revenues, in part because it lost market share to rivals as competitors engaged in aggressive discounting on cold cuts and mac & cheese, said CEO Tony Vernon.
The move to private ownership could make it easier for Heinz to do some spring cleaning, notably selling off its 'troubled' US frozen food business, said analysts as Heinz announced plans to sell up to Berkshire Hathaway and 3G.
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 the largest deal ever struck in the food industry.
CEO LARRY YOUNG WARNS ATTACKS ON CARBONATES WILL CONTINUE
Dr Pepper Snapple CEO Larry Young warns that US health lobby attacks on carbonates will persist, as his firm gears up to spend millions marketing new 2013 launches on its ‘critical’ low-calorie TEN platform.
US dairy giant Dean Foods has reported better-than-expected profit for the last three months of 2012 – a result it has attributed to better “cost control and effective pricing” from its Fresh Dairy Direct business.
CONSTELLATION BRANDS APPEARS CLEAR WINNER UNDER REVISED DEAL TERMS
Anheuser-Busch InBev (AB InBev) has agreed to sell a massive Grupo Modelo brewery to Constellation Brands as part of a $2.9bn transaction, to defuse a US legal fight over its takeover of the Mexican brewer.
Coca-Cola chief executive Muhtar Kent says he has resolved to find “meaningful solutions to the complex issue of obesity” and is “personally committed” to leveraging the company’s resources to tackle the problem.
GMO Inside, a national coalition of companies and organizations, has marshaled a public Valentine’s Day campaign to pressure Hershey and Mars to drop GMO ingredients or to label them in their chocolate candies.
Big Interview: Michael Shoretz, founder and CEO, Enlightened Ice Cream (Beyond Better Foods LLC)
Can ice cream actually be good for you - as opposed to just a little less bad for you? And if it can, will it sell? One man on a mission to find out is Michael Shoretz, founder and CEO of Beyond Better Foods, the start-up behind new market entrant Enlightened...
US cereal firm Post Holdings has reported a “self-inflicted” market share loss in the first quarter (Q1) of 2013 and plans new product launches backed by large ad campaigns to become a long-term share gainer.
Big Interview: Brad Kloss, founder and CEO, FitPro
Launching a new product into the ultra-competitive ready-to-drink (RTD) protein shake market is not for the faint-hearted. But being a minnow in a pool of sharks doesn’t faze the founder of FitPro, who reckons he can give Muscle Milk a run for its money.
Herbal Papaya, a company founded on the health benefits of the fruit, will launch a complete line of food, beverage and supplement products at the Expo West trade show in March. A key part of the company’s message is that all of its products are non...
Kellogg is significantly outpacing the competition in the frozen food aisles, posting a 12.8% surge in sales the fourth quarter of 2012 and a 10.8% rise in the full year, revealed bosses on an earnings call this morning.
Increased spending on marketing, advertising and promotions (MAP) is paying off for Jimmy Dean sausage maker Hillshire Brands, which has raised its outlook for the full year on the back of strong second quarter results.
For Ben & Jerry’s, the Vermont-based ice cream company, taking the step to remove GMO ingredients from its supply chain was simply a matter of paying attention. Not necessarily to the news, to political pressure, or even to consumer attitudes. It...
Hostess Brands has chosen a joint $410m offer from two investment firms — C. Dean Metropoulos & Co. and Apollo Global Management LLC — as the lead bid for Twinkies and other snack cake brands as it completes the process of filing ‘stalking horse’...
The potential upsides in Diageo’s potential acquisition of a majority stake in India's United Spirits (USL) are clear but achieving acceptable profitability from the business may be tricky, according to one analyst.
Big interview: Drew Harrington and Amanda Klane, co-founders, Yasso
It’s a runaway success story that will either inspire budding entrepreneurs across the nation or have them seething with jealousy... But it’s hard to think of a better example of a product that hit the market just at the right time.
Hostess Brands Inc. has won permission from the bankruptcy court to sell most of its bread brands at auction on February 28, and says it will submit plans to sell the Drake’s snack cakes business this week.
With rumors emerging that Danone is selling its 51% stake in its fruit juice JV with Chuiquita Brands International, one industry source told BeverageDaily.com that the French firm was likely ‘glad to be rid’ of a business blighted by mismanagement.
Sales of upmarket ice cream brand Magnum have almost doubled to more than €1billion in the four years since Paul Polman took the helm at Unilever, making it “one of the greatest success stories… in the history of consumer goods”, he said yesterday.
While cynics might not be persuaded by Coke’s new ads promoting the role it is playing in tackling obesity, the soft drinks industry is increasing efforts to help consumers make ‘informed choices’ through calorie labeling and more no or low sugar options.
Dairy Farmers of Ontario (DFO) has been offered no “further details” of Chobani’s Canadian manufacturing plant construction plans - despite being lined-up to supply the Greek yogurt giant’s proposed new facility.
If you’ve trudged around any industry trade shows recently, you’ve probably seen your fair share of prototype product concepts targeting the key ‘need states’ created by ‘modern life’: Wake up! (in energizing oranges and reds), Focus! (in royal purple),...
Ingredient wholesaler Multiple Organics has announced an expansion into its first company-owned warehouse and headquarters facility in Hercules, CA, not far from its previous home base in San Rafael. But the expansion was made possible by paying attention...
It’s not enough to have a great-tasting product – manufacturers of meat alternatives must tell a positive production story, according to the maker of an award-winning product taking the Dutch meat-free market by storm.
Want to get a slice of the action in the shots category? Build a brand with a compelling story or ‘mission’, and formulate a product that delivers a discernible effect on consumers in 20-30 minutes, or you’re wasting your time, beverages and shots guru...