Pinnacle Foods Inc., which went public in March, said Wednesday that its first-quarter net income more than doubled. The company paid less interest as its debt decreased and curbed some costs, offsetting a dip in sales. The maker of Birds Eye frozen foods, Duncan Hines frosting and cake mixes and Vlasic pickles earned $24.8 million, or 29 cents per share, up from $9.5 million, or 11 cents per share, in the same quarter of 2012.
Frozen foods supplier Overhill Farms has agreed to be purchased for approximately $80 million by Bellisio Foods, allowing the company to expand its position in the frozen entree and snack markets. Overhill announced in August that it was considering strategic options. Often this includes a potential sale of a company.
The House Agriculture Committee is considering a five-year farm bill that would make small cuts to the $80 billion-a-year food stamp program. The cuts are part of massive legislation that costs almost $100 billion annually and would set policy for farm subsidies, rural programs and the food aid. The House panel started work on the legislation Wednesday, one day after the Senate Agriculture Committee approved its version.
Move over cupcakes and cake-pops, this season's tastiest wedding trend has officially arrived, wedding cheese cakes. Elegant wheels of cheese stack up to create a savory spin on the classic wedding cake and offer couples a tasty way to personalize their special day.
Monster Beverage shares are gaining some traction less than a week after the energy drink maker reported disappointing first-quarter results and a slowdown in sales. Last Wednesday, Monster Beverage Corp. said that its quarterly profit fell as it was hurt by distributor termination obligations, foreign currency exchange rates and legal costs tied to regulatory matters and litigation regarding its namesake drink.
There's no smoke and mirrors about it — Americans are eating a lot more smoked seafood than they used to. And that demand — part of a larger trend of infusing everything from salts and cocktails to fruit and teas with a kiss of smoky flavor — has smoked seafood producers like Maine's Ducktrap River moving fast to expand production.
The Senate Agriculture Committee on Tuesday approved a massive five-year farm bill that would cut spending while also creating new subsidies for farmers. The legislation approved 15-5 includes concessions to Southern rice and peanut farmers, thanks to a new top Republican on the committee, Mississippi Sen. Thad Cochran.
Chickens likely raised with arsenic-based drugs result in chicken meat that has higher levels of inorganic arsenic, a known carcinogen, according to a new study led by researchers at the Johns Hopkins Center for a Livable Future at the Bloomberg School of Public Health.
A lot changes in 100 years, but the key to Hellmann's success may be that not much has changed for the mayonnaise. To celebrate Hellman's centennial birthday, owner Unilever is launching a marketing campaign to drum up attention for the country's top-selling mayonnaise, whose formula remains almost the same as it was a century ago. Media spending is undisclosed, but it's the largest ever campaign for the brand.
Move over cupcakes and cake-pops, this season's tastiest wedding trend has officially arrived, wedding cheese cakes. Elegant wheels of California cheese stack up to create a savory spin on the classic wedding cake and offer couples a tasty way to personalize their special day.
The FDA has released the Food Defense Plan Builder, a comprehensive, easy-to-use software program designed to help owners and operators of food facilities develop customized plans to minimize the risk of intentional contamination at their plants.
The U.S. Food and Drug Administration has released a new tool to help bolster the food industry’s defense measures against an act of intentional food contamination. The Food Defense Plan Builder is a comprehensive, easy-to-use software program designed to help owners and operators of food facilities develop customized plans to minimize the risk of intentional contamination at their individual food facilities.
As the House and Senate Agriculture Committees prepare to write a new Farm Bill this week, the list of organizations opposed to a proposed dairy program continues to grow. Nearly 150 organizations and businesses across the food chain, from farmers and food manufacturers to food retailers and consumers, have signed letters to members of Congress urging them to oppose the "Dairy Market Stabilization Program" (DMSP).
The legislation the Senate Agriculture Committee is considering Tuesday makes concessions to Southern rice and peanut farmers, thanks to a new top Republican on the committee, Mississippi Sen. Thad Cochran. The bill eliminates $5 billion in annual subsidies called direct payments that are important to those Southern farmers but makes it easier for them to receive alternate subsidies if prices dip.
The Institute of Medicine said Tuesday there's no evidence that cutting well below established guidelines offers any benefit — even though that's recommended for certain people at high risk of heart disease. There are some suggestions that going way too low might harm certain patients.
Trial is set to begin the case of a Canadian food company that says it's owed more than $600,000 from a North Dakota hog farming operation. Maple Leaf Foods, Inc. has filed a civil lawsuit in federal court against North Dakota Sow Center, which operates facilities near Bottineau and Edmore. Maple Leaf claims the hog farming company failed to pay for the sale of young pigs.
The sugar substitute market was estimated at $10.5 billion in 2012. This value is expected to increase to $13.7 billion by 2018, with 4.5% CAGR for the forecasted period. North America was expected to lead the global sugar substitute market with share of 49.0% followed by Asia-Pacific (21.4%), and Europe (20.9%) in terms of revenue in the year 2012.
French yogurt maker Danone says it has agreed to take a more than 90-percent stake in organic baby food maker Happy Family. Although Danone is known for its yogurt, baby food is one of its fastest-growing divisions. Revenue there rose more than 15 percent last year. But with Europe's economic crisis hitting sales hard in markets close to home, the Paris-based company has been looking for opportunities to expand abroad.
McDonald's is adding three new Quarter Pounders to its menu as the fast-food chain looks to offer cheaper premium burgers while capitalizing on one of its most popular brands. The company, based in Oak Brook, Ill., says the new burgers will replace its meatier Angus Third Pounders, which were among the most expensive items on its menu at around $4 to $5.
This month, tuber processing giant J.R. Simplot Co. asked the U.S. government to approve five varieties of biotech potatoes. They're engineered not to develop ugly black bruises — McDonald's, which gets many of its fries from Simplot, rejects those. They're also designed to have less of a natural but potentially cancer-causing neurotoxin, acrylamide.