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May 2, 2021

Wheat

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......

Egypt projects 7.1% increase in debt financing needs in 2021/22

Reuters
FILE PHOTO: A view of the city skyline and River Nile from Cairo tower building in the capital of Cairo, Egypt December 5, 2019. REUTERS/Amr Abdallah Dalsh/File Photo CAIRO (Reuters) – Egypt expects its debt financing needs to rise by 7.1% to 1.068 trillion Egyptian pounds ($68.1 billion) in the......

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......

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......

ADM to resume ethanol production at two plants

FoodBusinessNews
CHICAGO — ADM has announced plans to resume ethanol production at two of its US dry mills. In April 2020, ADM idled ethanol production at the company’s corn dry mill facilities in Cedar Rapids, Iowa, and Columbus, Neb., due to the challenging operating environment caused by the coronavirus (COVID-19) pandemic.......

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......

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