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April 15, 2021

food production

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......

How a return to mobility will impact snacks

FoodBusinessNews
CHICAGO — A shift in the snacking category this year should bring changes in packaging sizes. Bar makers could benefit as well. E-commerce sales should continue to sail, increasingly taking up a larger share of the category. “What we do know is that mobility is going to be the trigger......

Dairy, meat alternative sales surged to $7 billion in 2020

FoodBusinessNews
WASHINGTON – Retail sales of dairy and meat alternatives approached $7 billion in 2020, according to data from the Plant Based Foods Association and the Good Food Institute. The two groups commissioned data from the market researcher SPINS and refined it to reflect only plant-based products that directly replace animal-based......

Utz broadening distribution reach in Florida

FoodBusinessNews
HANOVER, PA. — Utz Brands, Inc. has acquired certain distribution rights in the Central Florida region from National Food Corp., an existing third-party direct-store delivery distributor. The acquisition of the 21 DSD routes is expected to accelerate Utz’s share of the salty snack category across Central Florida, including Orlando, Tampa......

Private equity firm buys De Wafelbakkers

FoodBusinessNews
GREENWICH, CONN. — Brynwood Partners VIII LP has acquired De Wafelbakkers from The Oklahoma Publishing Co., a subsidiary of the Anschutz Corp. Financial terms were not disclosed. Based in North Little Rock, Ark., De Wafelbakkers is a manufacturer of branded, co-manufactured and private label frozen pancakes, waffles and French toast.......

Tortilla maker to invest $2.7 million in expansion

FoodBusinessNews
SANTA FE, NM. — La Primera Tortilla Factory has announced plans to invest $2.7 million in equipment and add 14 employees over the next three years at its facility in Sunland Park, NM. To help facilitate the expansion, La Primera will receive a $500,000 job creation grant from the New......

Natural sweeteners offer sweet nostalgia

FoodBusinessNews
KANSAS CITY — Natural sweeteners are set for success amid the rising popularity of comfort food. Think sugar in an apple pie that reminds the consumer of grandmother, chocolate malt drinks reminiscent of those found in malt shops or honey in a sweet and gooey cinnamon roll. A surge in......

Bringing the (subtle) heat

FoodBusinessNews
CHICAGO — A kick of heat from the addition of organic natural flavors sneaks up on the palate after a few sips of Michelob’s Ultra spicy pineapple organic seltzer. Fire-roasted red peppers, spicy chorizo and jalapeño queso provide a flavor burst when one consumes Devour’s spicy chorizo queso hash, a......

Ideas for growth projected to last post-pandemic

FoodBusinessNews
KANSAS CITY – Analysts that track the food manufacturing industry are trying to figure out which consumer behaviors will persist as states begin to ease pandemic-related restrictions. Larry Levin and Chris DuBois of market research firm IRI explained the major themes emerging from their research that will drive growth in......

Ideation inspiration: 10 ingredients to watch

FoodBusinessNews
KANSAS CITY – Ideation is at the heart of product development. Successful food and beverage innovators need to know what emerging ingredients are capturing the consumer’s attention. Mike Kostyo, senior managing editor and trendologist for the market researcher Datassential, Chicago, identified 10 ingredients product developers should consider during a recent......

Utz to pay out $6 million in profit sharing

FoodBusinessNews
HANOVER, PA. — Full-time and part-time employees at Utz Brands, Inc. are set to share in an approximately $6 million profit-sharing contribution following “the realization of continued retail success.” The Hanover-based maker of savory snacks started its Utz 401(k) Profit Sharing Plan over 40 years ago. Since 2000, the company’s......

Food and agriculture industries play pivotal role in the greater economy

FoodBusinessNews
WASHINGTON — The pivotal roles played by the nation’s agriculture and food industries as employers, taxpayers and providers of the food and sustenance required to power the entire economy were the subjects of an illuminating new study commissioned by 33 food and agriculture organizations, including the American Bakers Association and......

Racial equity effort launched in US by Bimbo

FoodBusinessNews
HORSHAM, PA. — An initiative to combat racial inequity and injustice and to create positive lasting change has been launched by Bimbo Bakeries USA. In addition to supporting organizations dedicated to serving the needs of Black and other minority communities, BBU has formed a racial equity action council. In a......

U.S. Sugar to buy Imperial Sugar

FoodBusinessNews
WILTON, CONN. — U.S. Sugar, a privately held agribusiness based in Clewiston, Fla., will acquire the business and assets of Imperial Sugar Co. from Louis Dreyfus Co. as the two companies entered into a definitive agreement announced on March 24. Louis Dreyfus acquired Imperial Sugar in 2012 and currently operates......

New pavilions among introductions set for IBIE

FoodBusinessNews
WASHINGTON — “It will be here before we know it.” So said Jorge Zarate of the 2022 International Baking Industry Exposition scheduled for Sept. 17-22 at the Las Vegas Convention Center. Speaking during the all membership meeting of the American Bakers Association March 22, Mr. Zarate revealed new details about......

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