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October 24, 2020

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ADM investing in probiotics production capacity

FoodBusinessNews
by FoodBusinessNews018
CHICAGO — Archer Daniels Midland Co. has unveiled plans to build a new probiotics production plant in Valencia, Spain. The new facility is expected to help ADM meet a growing demand for microbiome solutions, the company said. “Our new Valencia facility will feature leading-edge technology and dramatically enhance our ability......
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Food Business News

COVID-19 risks seen rising by Bimbo executive

FoodBusinessNews
by FoodBusinessNews010
MEXICO CITY — While Bimbo Bakeries USA has managed to keep up with unprecedented demand in 2020, surging rates of the coronavirus infection and predictions of a worsening of the pandemic has executives worried about the months ahead. In an Oct. 21 call with investment analysts, Fred Penny, president of......
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Food Business News

Pandemic drives US cereal sales higher, GlobalData says

FoodBusinessNews
by FoodBusinessNews020
LONDON — The ready-to-eat breakfast cereals category is expected to approach $12.1 billion in 2020, boosted by a surge in demand related to the coronavirus (COVID-19) pandemic, according to GlobalData, a London-based data and analytics company. If realized, sales would be up 12% from $10.8 billion in RTE cereal sales......
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Food Business News

CORE closes deal for ingredient manufacturer

FoodBusinessNews
by FoodBusinessNews022
CHICAGO — CORE Industrial Partners LLC, a Chicago-based private equity firm, has acquired J&K Ingredients Corp., a Paterson, NJ-based manufacturer of baked foods ingredients. The company’s product line is focused on natural, organic and clean label products. Financial terms of the transaction were not disclosed. Founded in 1899, J&K Ingredients......
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Food Business News

Eliot’s Nut Butters eyes accelerated expansion

FoodBusinessNews
by FoodBusinessNews013
GAITHERSBURG, MD. — Eliot’s Nut Butters, a Portland, Ore.-based flavored nut butter company acquired in September by consumer packaged goods company Verus International, Inc., has begun several programs designed to create significant growth through the end of 2020, with accelerated expansion expected during 2021. Growth initiatives underway at Eliot’s include......
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Food Business News

Impossible Foods to ramp up R&D team

FoodBusinessNews
by FoodBusinessNews020
REDWOOD CITY, CALIF. — Impossible Foods plans to dedicate a significant portion of the $700 million it has raised this year to ramp up its R&D team. Adding more scientists to its team is part of a broader initiative at the company to expand its multifaceted technology platform and accelerate......
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Food Business News

Understanding the new Immunity Seeker

FoodBusinessNews
by FoodBusinessNews020
LONDON — The immunity trend is here to stay, according to industry experts surveyed by Euromonitor. Interest in food and beverages carrying an immunity claim surged at the beginning of the year and has remained elevated throughout the coronavirus (COVID-19) pandemic. The marketing intelligence firm surveyed food and beverage experts......
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Food Business News

SFA cancels Winter Fancy Food Show, announces virtual event

FoodBusinessNews
by FoodBusinessNews029
NEW YORK – The Specialty Food Association (SFA) has canceled the 2021 Winter Fancy Food Show, which was scheduled to take place at the Moscone Center in San Francisco Jan. 17-19.  The cancellation of the 46th annual winter show was driven by the closure of the Moscone Center due to the COVID-19 pandemic, ongoing......
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Food Business News

Whole Foods identifies 10 trends that will matter in 2021

FoodBusinessNews
by FoodBusinessNews028
AUSTIN, TEXAS – As 2020 winds down, food and beverage industry observers are forecasting what trends will drive change in 2021. Last week McCormick & Co. published its annual Flavor Forecast. This week Whole Foods Market has released its predictions of the 10 trends that will matter in 2021. “There......
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Food Business News

BBU expands availability of The Rustik Oven

FoodBusinessNews
by FoodBusinessNews023
HORSHAM, PA. — After more than a year in test marketing in California, Bimbo Bakeries USA is rolling out The Rustik Oven signature artisan bread line nationwide. The Rustik Oven is available in three varieties — sourdough, artisan white, and hearty grains and seeds. The bread is Non-GMO Project verified......
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Food Business News

Coca-Cola retiring Tab, Zico brands

FoodBusinessNews
by FoodBusinessNews079
ATLANTA — The Coca-Cola Co. plans to discontinue Tab diet soda and Zico coconut water, among other brands in the United States, as part of its ongoing portfolio refresh. Other retired products include Odwalla, Coca-Cola Life and Diet Coke Feisty Cherry, plus regional offerings such as Northern Neck Ginger Ale......
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Food Business News

Kitchens of Sara Lee on the block

FoodBusinessNews
by FoodBusinessNews033
SYDNEY, AUSTRALIA — McCain Foods (Aust) Pty. Ltd. has hired Rothschild Australia’s investment bankers to auction the Kitchens of Sara Lee frozen bakery business, according to The Australian Financial Review. McCain acquired the Sara Lee business from Hillshire Brands Co. in 2013 for approximately $85 million. At the time, the......
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Food Business News

Pilgrim’s Pride expanding Minnesota poultry plant

FoodBusinessNews
by FoodBusinessNews033
COLD SPRING, MINN. — Pilgrim’s Pride Corp. announced on Oct. 13 that it will expand its Cold Spring, Minn., poultry facility as part of a $75 million investment. According to the Greater St. Cloud Development Corp. (GSDC), when construction is completed in early 2021, about 130 new jobs will be......
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Food Business News

Four flavor themes stand out in McCormick forecast

FoodBusinessNews
by FoodBusinessNews025
HUNT VALLEY, MD. — Smoked cinnamon, chilies and chia seeds all could factor into upcoming flavor innovation, according to the McCormick Flavor Solutions’ Flavor Forecast released Oct. 14. The forecast focused on four themes: sweet and seasonal satisfaction, spicy revolution, global finds, and empowered eating and drinking. McCormick Flavor Solutions,......
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Food Business News

Yelp searches reveal season’s trending foods and flavors

FoodBusinessNews
by FoodBusinessNews023
SAN FRANCISCO — The season’s top food and drink trends, according to restaurant review hub Yelp, include, unsurprisingly, pumpkin spice lattes and apple cider donuts. A breakout star on the platform, with searches up 6,218% over last year, is suadero tacos. An authentic Mexican street food, tacos de suadero feature......
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Food Business News

Six megatrends shaping the food industry

FoodBusinessNews
by FoodBusinessNews024
BOSTON — Major food companies are seeing increased competition from smaller brands and rising costs of production, even in the face of industry wide growth, according to a new report from Lux Research. “While it was once beneficial to be big, to have an integrated supply chain and costly capital......
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Food Business News

PepsiCo puts Green Bond funds toward packaging, decarbonization

FoodBusinessNews
by FoodBusinessNews046
PURCHASE, NY. — PepsiCo, Inc. has put nearly $450 million of its $1 billion Green Bond to use in support of packaging, decarbonization and water, the company announced on Oct. 13. Funds also have been allocated toward advancing several of the UN’s Sustainable Development Goals, PepsiCo said. The company’s first-ever......
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Food Business News

Premium meats in high demand

FoodBusinessNews
by FoodBusinessNews020
KANSAS CITY, MO. – Despite tough economic times for many Americans, consumer demand remains high for premium cuts of meat sold at grocery retail, and the nation’s top suppliers are rolling out new products to meet it. This summer, Tyson Fresh Meats, a division of Tyson Foods, Inc., celebrated the......
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Food Business News

Conagra benefiting from modernized portfolio

FoodBusinessNews
by FoodBusinessNews020
CHICAGO — While consumers increasingly have turned toward specialty brands and fresher products over big-name processed foods in recent years, classic brands and comfort foods are enjoying a resurgence as shoppers seek familiarity and easy-to-make meals during the coronavirus (COVID-19) pandemic. Prior to the pandemic, issues like healthier ingredients, cleaner......
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Food Business News

Recalculating at retail: Shoppers to seek more deals

FoodBusinessNews
by FoodBusinessNews031
NEW YORK — Experiencing or anticipating financial restraint, Americans will recalibrate their shopping habits, according to Nielsen’s COVID-19 Shopper Survey that contacted people in early July. They will seek discounts, promotions and lower prices. When asked what would happen if economic conditions worsen, 52% of respondents said they will cook......
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