Food & Drink

Coca-Cola won’t rule out further acquisitions or move into alcohol

November 17, 2017

Coca-Cola won’t rule out future bolt-on acquisitions or expansion into alcohol, though the latter “doesn’t make sense” at this moment in time, according to CEO James Quincey. Quincey was talking to broadcaster CNBC at Coca-Cola’s first investor day for eight years, in which the soft..

Bunge restructures operations into regions from business units

November 17, 2017

U.S. agricultural giant Bunge Ltd said on Wednesday it would reshuffle its business structure from five operating units to three regions – North America, South America, and Europe and Asia. Todd Bastean will be president of North America, Pierre Mauger for Europe and Asia, and..

Orkla offloads its K-Salat range to focus on other brands

November 16, 2017

Orkla Foods Danmark has entered into an agreement with Stryhns A/S to sell its K-Salat line as it aims to concentrate on fewer categories. The agreement concerns the 100% divestment of K-Salat, which has a product portfolio of salad spreads, mayonnaise, remoulade, dressings and potato..

French food sector signs charter for “fairer” future

November 16, 2017

Farm co-operatives, industrial groups, retailers and trade bodies in France have signed a state-brokered charter pledging their commitment to a food sector that is more sustainable, equitable and safer. The agreement embodies the main principles of an ambitious ‘farm-to-fork’ reform programme launched by France’s President,..

Naturex buys Swedish Oat Fiber

November 16, 2017

Naturex is firming up its presence in the natural nutrition market with the acquisition of Swedish Oat Fiber, a specialized manufacturer of oat dietary fibers, oils and proteins. A Naturex spokesperson confirmed to FoodIngredientsFirst that the acquisition price is not being disclosed, however, CEO of..

Campbell Soup names chief diversity and inclusion officer

November 15, 2017

Monica Diaz has been appointed to the newly created position of chief diversity and inclusion officer at the Campbell Soup Co., effective Nov. 20. In this role, Ms. Diaz will lead the company’s diversity and inclusion strategy, creating new programs and enhancing existing initiatives to..

Nestlé considers fate of past deals before striking again

November 15, 2017

Nestlé, the world’s largest food and drinks company, is a giant awakening. Since the start of the year, new chief executive Mark Schneider has reacted to forces reshaping the global consumer goods industry — and pressure from activist investors. Profit margin targets have been set,..

AB InBev replaces North America chief to stem sales slide

November 15, 2017

The world’s biggest brewer, Anheuser-Busch InBev, is replacing its North American chief to stem a years-long sales decline in its largest market. The maker of Budweiser and Bud Light said on Monday that Joao Castro Neves would be succeeded on Jan. 1 by another Brazilian..

Tyson Foods acquires Original Philly Holdings

November 14, 2017

Tyson Foods, Inc. has completed the acquisition of Philadelphia-based Original Philly Holdings, Inc., one of the nation’s leading producers of raw and fully-cooked Philly-style sandwich steak and cheesesteak appetizer products. “Original Philly Holdings is a natural, strategic fit with our Prepared Foods Business,” said Tyson..

Sweet deal will see Lily O’Brien’s sell for nearly €50m

November 14, 2017

Carlyle Cardinal Ireland (CCI), a fund jointly owned and run by US player Carlyle and the Irish-owned Cardinal Capital group, has entered into exclusive talks with an unnamed bidder to sell the Lily O’Brien’s chocolate company. CCI paid about €15 million three years ago for..