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...