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Pandemic drives US cereal sales higher, GlobalData says

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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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CORE closes deal for ingredient manufacturer

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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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Eliot’s Nut Butters eyes accelerated expansion

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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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Impossible Foods to ramp up R&D team

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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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Understanding the new Immunity Seeker

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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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SFA cancels Winter Fancy Food Show, announces virtual event

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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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Whole Foods identifies 10 trends that will matter in 2021

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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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BBU expands availability of The Rustik Oven

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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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Coca-Cola retiring Tab, Zico brands

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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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Kitchens of Sara Lee on the block

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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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Pilgrim’s Pride expanding Minnesota poultry plant

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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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Four flavor themes stand out in McCormick forecast

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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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Yelp searches reveal season’s trending foods and flavors

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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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Six megatrends shaping the food industry

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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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PepsiCo puts Green Bond funds toward packaging, decarbonization

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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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Premium meats in high demand

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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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Conagra benefiting from modernized portfolio

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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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Recalculating at retail: Shoppers to seek more deals

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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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Southeastern Mills now Summit Hill Foods

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ROME, GA. — Southeastern Mills has rebranded to Summit Hill Foods. The rebranding initiative is the result of a year-long effort that includes a new company name, brand manifesto, company logo and corporate and foodservice websites. The effort was inspired by a need for a name that better aligns with......
Food Business News

Ferrero affiliate agrees to buy UK biscuit business

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LUXEMBOURG — CTH, a Belgian holding company affiliated with the Ferrero Group, has reached an agreement to acquire part of the Fox’s Biscuits business from 2 Sisters Food Group, which is part of Boparan Holdings Ltd., for £246 million ($317.18 million). As part of the transaction, CTH would acquire Fox’s......

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