Swiss consumer goods company The Hero Group has sold its U.S. decoration business Signature Brands to investors Traub Capital, Hero said on Monday without giving financial terms.
Signature Brands products include Betty Crocker and Cake Mate desert decorations and Paas Easter egg dyes, its website shows.
The divestment comes as Hero focuses on core categories of baby and toddler food, healthy snacks, natural spreads, and gluten-free products. It keeps a U.S. presence with its Beech-Nut Nutrition unit, which makes baby and toddler food.
Rothschild & Co, PJ SOLOMON, and law firm Ropes & Gray LLP advised Hero. Law firm Lowenstein Sandler LLP and financial adviser B. Riley FBR worked for Taub, Hero said in a statement.
By Michael Shields
Source: Reuters
A new technology that speeds up bacterial testing in food is showing promise to “revolutionize” the process of testing bacterial viability in food, according to Japan-based scientists who discovered the breakthrough in food safety. The technique can reportedly verify food safety before shipment from factories and prevent food poisoning.
Heineken Mexico plans to invest €430 million in the establishment of a new brewery in Yucatán, aiming to expand sustainable brewing practices and foster community growth. Construction will take place in the Kanasín municipality, marking the company’s inaugural brewery in southeastern Mexico.
Keurig Dr Pepper (KDP) has appointed former Mondelēz International executive Tim Cofer as its new chief operating officer, with plans for Cofer to succeed current CEO Bob Gamgort in the second quarter of 2024. Cofer, who will join KDP on 6 November, will work closely with Gamgort while in the capacity of COO.