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May 7, 2021

food business

River Roasters Coffee making move into wholesale

FoodBusinessNews
POMEROY, OHIO — River Roasters Coffee Co. has announced plans to invest approximately $171,000 to construct a new building, invest in a commercial roaster, and build a commercial kitchen for food production. The new facility will enable the company to supply business customers such as restaurants, groceries and other coffee......

Sports nutrition formulators focus on flavor choices

FoodBusinessNews
KANSAS CITY — With the sports nutrition category pushing further into the mainstream, formulators are putting a greater focus on flavor choices to deliver a competitive edge. Sports nutrition products traditionally have been sold largely on efficacy, with taste often a secondary consideration. While health aspects and cost remain the......

Lancaster locks up winning formula with Chick-fil-A

FoodBusinessNews
WESTERVILLE, OHIO — Sauce and dressing licensing programs have been a winning formula for Lancaster Colony Corp. over the past couple years. Now, the company’s partnership with Chick-fil-A stands to take Lancaster to the next level. Chick-fil-A sauces alone accounted for about 8 percentage points of growth in Lancaster’s Retail......

Bunge buoyed by improved crush output

FoodBusinessNews
ST. LOUIS — Building on momentum over the past several quarters, Bunge Ltd. delivered strong financial results in the first quarter of fiscal 2021, reaching a new high watermark for crush capacity utilization, and executing well in the marketplace through strong customer service, innovation and agility. Bunge net income in......

Kerry sees seven trends impacting flavor development

FoodBusinessNews
BELOIT, WIS. — Sriracha macaroni and cheese burgers, ghost pepper donuts and brown butter cheese dip may give a clue to where flavor trends are headed in 2021, according to Kerry’s new Global Taste Trends report. The taste and nutrition company found nostalgic flavors are gaining momentum as consumers continue......

Tattooed Chef to acquire Mexican foods maker

FoodBusinessNews
PARAMOUNT, CALIF. — Plant-based foods maker Tattooed Chef, Inc. has entered into agreements to acquire New Mexico Food Distributors, Inc. and Karsten Tortilla Factory, LLC (collectively referred to as Foods of New Mexico) for approximately $35 million in cash. Founded in 1987 and headquartered in Albuquerque, NM, Foods of New......

Lavazza to open its first US roasting, packing plant

FoodBusinessNews
NEW YORK — Lavazza North America, part of global Italian coffee company Lavazza Group, has begun construction on its first US roasting and packing plant. The new plant, which is an expansion of Lavazza’s facility in West Chester, Pa., is slated to open in October and will serve the US......

7-Eleven seeks to carve out niche in QSR space

FoodBusinessNews
IRVING, TEXAS — 7-Eleven Inc. continues to make inroads in the quick-service restaurant space with new concept stores in Manassas, Va., that feature two restaurant options in one location— the company’s Raise the Roost Chicken and Biscuits restaurant and Parlor Pizza, an on-site pizzeria with hand-tossed made-to-order pizzas. The two......

Chr. Hansen acquires natural colors provider

FoodBusinessNews
COPENHAGEN, DENMARK — Chr. Hansen Natural Colors has acquired SECNA Natural Ingredients Group SL, marking its first add-on investment since being acquired by private equity firm EQT IX for $934 million in late March. Headquartered in Valencia, Spain, SECNA is a provider of natural colors and pigments, including anthocyanins from......

McCormick flavor forecast focuses on four trends

FoodBusinessNews
HUNT VALLEY, MD. — Edible flower buds, crisped chilies and seaweed could factor into upcoming flavor innovation, according to McCormick & Co.’s 21st annual Flavor Forecast. This year’s four flavor trends invite comforting global flavors to the table, move plants further into the spotlight, dive into fresh coastal ingredients and......

Plant-based, low-sugar shaping breakfast trends

FoodBusinessNews
CHICAGO — Consumers are interested in healthy, plant-based alternatives as well as unique flavors to start the day, according to data from Label Insight. The company looked at consumer online searches to see what breakfast foods increased in popularity during the pandemic. Within the breakfast sandwiches and meals category, product......

Frito-Lay veteran joins snack brand Peatos

FoodBusinessNews
LOS ANGELES — Dave Johnson, a former Frito-Lay executive, has joined snack brand Peatos in the newly created role of chief growth officer. “Dave will join the executive team to help drive top-line growth at Peatos, focusing on retail sales and foodservice,” said Nick Desai, chief executive officer of Peatos......

CVS to expand frozen food, snack offerings

FoodBusinessNews
WOONSOCKET, RI. — CVS Pharmacy, the retail division of CVS Health operating nearly 10,000 locations, is ramping up its food and beverage offerings in an effort to become more of a meal solutions provider post-pandemic. CVS said select stores now have a refreshed assortment of more than 100 frozen foods......

Frozen food industry seeks ways to extend sales surge

FoodBusinessNews
JACKSONVILLE, FLA. — Frozen food sales rocketed up by double-digit percentages once COVID-19 hit last year and forced consumers to eat at home more often. Whether such growth in the category continues after the pandemic fades could depend on pricing, variety and companies knowing when consumers eat frozen food during......

Post cuts size of SPAC IPO

FoodBusinessNews
ST. LOUIS — Post Holdings Partnering Corp. (PHPC), a business unit of Post Holdings, Inc. that earlier this year formed a special purpose acquisition company (SPAC) with the intention of raising funds to partner with a business in the consumer products space, disclosed in a revised S-1 filing with the......

Nomad Foods acquires Croatian food business

FoodBusinessNews
FELTHAM, ENGLAND` — Nomad Foods on March 29 announced it has reached an agreement with Fortenova grupa d.d. to acquire Fortenova’s Frozen Food Business Group (FFBG) for €615 million ($724 million) in a cash transaction. Based in Zagreb, Croatia, FFBG offers a variety for frozen foods products in the fish,......

Small food companies seen thriving post-pandemic

FoodBusinessNews
CHICAGO – The total consumer packaged goods industry grew about 10.4% in 2020, outpacing the prior three-year annual growth rate of 1.8%, according to Boston Consulting Group (BCG) and Information Resources Inc.’s (IRI) annual CPG Growth Leaders List. The report found mid ($1 billion to $6 billion in annual sales),......

General Mills strives to scale back contract manufacturing

FoodBusinessNews
MINNEAPOLIS — General Mills, Inc. plans to cut back on contract manufacturing once pandemic-fueled demand for its food and beverage products levels off, said Kofi Bruce, chief financial officer. In an interview with The Wall Street Journal, Mr. Bruce said the Minneapolis-based maker of Cheerios and Betty Crocker enlisted approximately......

Shifting demographics poise functional products for growth

FoodBusinessNews
CERRITOS, CALIF. — Functional food ingredients that support better sleep, reduced stress and improved focus are in demand and driving product innovation, according to a new report from T. Hasegawa. The flavors producer cited research from Lightspeed/Mintel that found nearly 70% of consumers currently use products that feature a functional......

Financial, health concerns highest among US consumers

FoodBusinessNews
NEW YORK — Half of consumers worldwide said their consumption habits have permanently changed due to the COVID-19 pandemic, according to a new report from AlixPartners. The consulting firm surveyed more than 7,000 consumers in nine countries and found 48% said the pandemic permanently altered their buying behaviors. The biggest......

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