Food & Drink

PepsiCo names a President but CEO staying put for “foreseeable future”

July 21, 2017

PepsiCo on Tuesday said it had named a president, filling a long vacant second-in-command job, as the food and beverage giant added an executive to the ranks of CEO Indra Nooyi’s potential successors. The maker of Pepsi, Gatorade and Quaker Oats said in a press..

AB Inbev to buy soft drinks firm Hiball

July 21, 2017

The world’s largest brewer Anheuser Busch InBev said on Thursday it was acquiring Hiball, a San Francisco-based producer of energy drinks and owner of the Alta Palla brand of organic sparkling juices and sparkling waters. The acquisition marks another step into the non-alcoholic drinks sector..

France opens in-depth field-to-fork food review

July 21, 2017

Prime Minister Edouard Philippe launched a wide review of France’s food sector on Thursday, calling participants to help the state find solutions to improve farmers’ ailing incomes, food quality and the environment. The consultation, part of a campaign pledge of President Emmanuel Macron, is due..

Grupo Bimbo agrees to buy US baker East Balt for $650m

July 21, 2017

Grupo Bimbo has acquired US foodservice company East Balt Bakeries for $650 million in a bid to expand its global reach. Founded in 1955 and headquartered in Chicago, East Balt was bought by One Equity Partners in 2012. It employs around 2,200 people and operates..

Campbell Soup to withdraw from food industry group by year-end

July 20, 2017

Campbell Soup Co. Chief Executive Denise Morrison said Wednesday during the company’s investor event that the company will withdraw from the Grocery Manufacturer’s Association (GMA), a major food association, by the end of the calendar year. The decision, according to Morrison, is “not financial,” but..

Hampton Creek’s board quits en masse

July 20, 2017

Josh Tetrick, the co-founder and CEO of controversial food startup Hampton Creek, is now the sole member of its board. At least four directors have left the board in June over apparent “deep discord” with Tetrick, Bloomberg reported. The publication noted “at least five directors”..

How the US-Mexico sugar deal could impact food prices

July 20, 2017

The United States announced Wednesday that the first round of NAFTA renegotiation talks between the U.S., Canada and Mexico will take place August 16 – August 20. Last month, the United States and Mexico cleared an important trade obstacle between the two countries when they..

Barry Callebaut to acquire D’Orsogna Dolciaria

July 20, 2017

Barry Callebaut is set to acquire D’Orsogna Dolciaria, which will further strengthen its capabilities in the company’s specialties and decorations business, in particular in Europe. D’Orsogna Dolciaria, a family-owned Italian business-to-business company, is known as a leading supplier of high-quality decoration and inclusion solutions mainly..

ADM finalizes Industries Centers acquisition

July 19, 2017

Archer Daniels Midland Company has completed its acquisition of a controlling interest in Industries Centers, which will now be known as ADM Israel. “By combining ADM’s unparalleled global network with the experience and capabilities of Industries Centers, ADM Israel offers customers in Israel unequalled service,..

Reckitt cuts the mustard with $4.2 billion food business sale

July 19, 2017

U.S. spices maker McCormick & Co Inc has agreed to buy Reckitt Benckiser Group’s food business for a higher-than-expected $4.2 billion to give it a wider variety of seasonings and sauces. London-listed Reckitt said in April it was reviewing options for the unit, which includes French’s..