A northern South Dakota beef processing plant is laying off 108 of its 420 employees until it can raise enough money to buy more cattle, the company's top executive said Thursday. David Palmer, president and chief executive of Northern Beef Packers, said the plant has raised more than $150 million, but it's putting a planned ramp up on hold until it can raise about $20 million more in working capital, which is used to fund operation.
A salsa company that started in a West Virginia basement is being acquired by a family owned food products company in Virginia, the salsa maker's founder said Thursday. Blue Smoke Salsa's Robin Hildebrand said the tentative deal with Winchester, Va.-based White House Foods is expected to be completed by early June. Financial terms weren't disclosed.
Americans may not feel optimistic about the economy but they're still spending more at Starbucks. The world's biggest coffee chain said Thursday that its profit rose in its fiscal second quarter as a key sales figure climbed in the U.S., its biggest market. New drinks and food, such as its sandwiches and pre-packaged lunch boxes, helped lift sales.
Over the last few years, there has been an increasing amount of buzz around the concept of “re-shoring,” in which an American company decides it’s more financially viable to bring manufacturing operations back to the U.S. from a foreign land.
The world's largest brewer is trying to stop Ohio from enacting a measure that would prohibit brewers from buying wholesale beer distributors. That provision was part of a bill that moved quickly through the Legislature last week and is now before Gov. John Kasich.
Mead Johnson's first-quarter earnings climbed 5 percent, as higher prices for the infant formula maker's products in Latin America and part of Asia countered a drop in volume from North America and Europe. The Glenview, Ill., company also said Thursday that it was reaffirming its forecast for 2013 earnings to range between $3.22 and $3.30 per share.
“This year’s winners include dairy farms and businesses from across the country who took steps to reduce their environmental impact, improve their profitability and increase their contribution to a sustainable 21st century food system,” said Molly Jahn, professor of genetics and agronomy at University of Wisconsin-Madison and a member of the awards’ judges panel.
Hershey says its net income rose in the first quarter as it sold more of its namesake chocolates and benefited from lower costs for ingredients. The company, which makes Kit Kat, Reese's Peanut Butter Cups and Twizzlers, said that cost-cutting initiatives also improved its profit margins for the period and raised its outlook for the year.
Hostess Brands LLC says it will reopen its eastern Kansas bakery this summer, with the hiring of an initial 250 people already underway. The announcement was made Thursday by the investment partnership that bought Hostess Brands' snack cake product lines.
The Innovation Center for U.S. Dairy® announced the winners of the second annual U.S. Dairy Sustainability Awards on April 23 at a special ceremony in Washington, D.C. The program recognizes dairy farms and businesses of all sizes for practices that advance the industry’s commitment to healthy products, healthy communities and a healthy planet.
After a one-two punch, Yum says it expects sales to recover by year end. A new strain of avian flu has hurt sales as Chinese consumers shy away from poultry products. This comes on the heels of a discovery that the company's poultry suppliers in the country were using unapproved levels of antibiotics.
The second-largest shareholder for Smithfield Foods Inc. is reiterating that the world's largest pork producer should consider splitting up the company. Continental Grain Co. on Thursday filed a presentation with the Securities and Exchange Commission furthering its recommendation outlined in a letter to the company's board last month.
A bill that would allow malt beverages, including beer, to be sold in Connecticut in pliable pouches is moving through the General Assembly. The House of Representatives voted 120-25 on Wednesday in favor of the legislation. The bill now awaits action in the Senate.
In southern New Mexico, the mighty Rio Grande has gone dry — reduced to a sandy wash winding from this chile farming community to the nation's leading pecan-producing county. Across the state's eastern plains, wells stand empty and ranchers are selling their cattle. In the north, urbanites face watering restrictions while rural residents see the levels of their springs dropping more every day.
The Hershey Co. said Wednesday that it has made a number of management changes to help position the candy company for better global growth. The company, based in Hershey, Pa., is the largest chocolate maker in North America, but it faces tough competition globally from companies such as Mondelez International Inc., which now owns Cadbury and is focused on growth in international markets.
A Kansas Senate committee introduced a bill on Thursday authorizing an additional $202 million in bonds to help finance construction of a federal biosecurity lab in Manhattan. The Senate Ways and Means Committee scheduled a hearing later Thursday to hear from officials with Gov. Sam Brownback's administration about the funding request.
This grilling report identifies the top tastes, trends and techniques that will be inspiring backyard cooks all season long. Smoke & spice pairings, grilled fruit drinks and DIY condiments are among the list of trends that will be sizzling on barbeques across the country.
In Vermont, a hotbed of craft beer brewing, lawmakers are considering a bill that would allow brewers to ship their beer directly to consumers to expand their markets and reach their niche customers nationwide. The state already allows wineries to ship wine directly to consumers after changing the law, but beer shipments are illegal.
The parent company of KFC is hoping to shake fallout from the avian flu by the end of the year. Yum Brands Inc., which also owns Pizza Hut and Taco Bell, said Wednesday that it expects sales at established restaurants for its China division to turn positive by the fourth quarter.
Seven people have been charged with smuggling bladders from an endangered fish in what authorities said Wednesday may be a growing international practice in which the bladders are sold for up to $20,000 each to be used in a highly desired soup.