Advertisement
Financial News
Subscribe to Financial News

The Lead

Mondelez to Build $90M Biscuit Plant in Bahrain

October 1, 2014 1:25 pm | by Mondelez International, Inc. | News | Comments

In the initial two- to three-year phase, the new plant will operate four biscuit-manufacturing lines with a total capacity of nearly 90,000 tons per year. That's the equivalent of about nine-times the weight of the Eiffel Tower in Paris. Like other, state-of-the-art Mondelez International plants, the facility is scalable.

Coca-Cola to Revise Executive Pay Plan After Criticism

October 1, 2014 1:04 pm | by CANDICE CHOI, AP Food Industry Writer | News | Comments

The world's largest beverage maker, Coca-Cola,...

General Mills to Cut 700 to 800 Jobs

October 1, 2014 8:59 am | by Associated Press | News | Comments

The Minneapolis company that owns Betty Crocker and Green Giant brands said in a regulatory...

Dole Food Owner Giving $15 Million a Year to Research Institute

September 30, 2014 3:15 pm | by Associated Press | News | Comments

The 91-year-old billionaire owner of Dole Food Co. said Tuesday he is committing $15 million a...

View Sample

FREE Email Newsletter

Daily news and top headlines for food manufacturing professionals

Nestle to Sell 2 German Baby Food Brands

September 29, 2014 12:30 pm | by Associated Press | News | Comments

The Swiss-based food and drink company Nestle SA is selling two baby food brands in Germany to an investor consortium for an undisclosed sum. The company says it plans to concentrate its baby food business in Germany and Austria.     

Hummus-Maker to Expand Va. Plant, Double Production Capacity

September 29, 2014 9:24 am | by MICHAEL FELBERBAUM, AP Business Writer | News | Comments

Sabra Dipping Co. is doubling its production capacity and creating 70 jobs in 2015 by expanding its Virginia operations. Sabra first opened its factory in 2010, making 4,000 tons of hummus monthly.              

The Inversion Crackdown is in Full Swing

September 29, 2014 8:38 am | by Maura Falk, Associate Editor, IMPO Magazine | Blogs | Comments

It looks like the Obama administration has finally thrown down the gauntlet with companies moving their headquarters overseas.                                      

Advertisement

North Dakota's Flour Mill to Become Largest Wheat-Grinding Factory in US

September 29, 2014 8:35 am | by JAMES MacPHERSON, Associated Press | News | Comments

North Dakota's state-owned flour mill is currently undergoing a $27 million expansion that will make it the largest wheat-grinding factory in the U.S. The mill's manager said the expansion is necessary to meet growing flour demand.     

Brown-Forman Announces Whiskey Row Project

September 25, 2014 3:45 pm | by BRUCE SCHREINER, Associated Press | News | Comments

The company revealed its plans to invest about $30 million to transform two historic buildings into the production facility and tourist attraction along a stretch of downtown Louisville that was known as "Whiskey Row" from the city's liquor-making heyday.

NutraSweet to Cease Aspartame Production

September 25, 2014 12:00 pm | by Associated Press | News | Comments

NutraSweet says it will no longer make the artificial sweetener aspartame as a result of foreign competition. The privately held company expects to shut down a major portion of the plant by year-end as a result.           

35K Pounds of Frozen Chicken Found Abandoned After Ransom Attempt

September 25, 2014 10:05 am | by Associated Press | News | Comments

The 53-foot trailer, dripping with rancid juices of rotting chicken, was discovered near the Flying J Truck Stop west of Missoula, Montana. The 35,000 pounds of chicken were worth $80,000.                 

Man Who Raised $55K to Make Potato Salad is Throwing Party

September 25, 2014 9:04 am | by Associated Press | News | Comments

An Ohio man, Zack Brown, who jokingly asked for $10 on Kickstarter for his first attempt to make potato salad, ended up raising $55,000. Now, he is making good on his promise and throwing a huge party: PotatoStock 2014.        

Advertisement

Colbert: The Russians Buy PBR

September 24, 2014 3:39 pm | by The Colbert Report | Videos | Comments

Stephen Colbert of "The Colbert Report" speaks of the devastating blow to grandfathers and hipsters alike as the all-American Pabst Brewing Company is acquired by a Russian company.                          

US Cracks Down on Companies Moving Overseas

September 24, 2014 3:14 pm | by The Associated Press | News | Comments

The Treasury Department announced new regulations aimed at making these so-called inversion deals less lucrative. In a typical deal, an American company buys a foreign firm based in a country with a lower tax rate, then moves its headquarters overseas. 

MSU Awarded $3M Grant for Food Processing

September 24, 2014 2:46 pm | by Associated Press | News | Comments

Michigan State University is receiving a $3 million federal grant for a facility designed to help food companies better process and market their products.                            

America Loses Another Iconic Brand, Sort Of

September 23, 2014 1:20 pm | by Jon Minnick, Associate Editor, Manufacturing Business Technology | Blogs | Comments

It looks like foreign investors are taking one more slice of Americana pie. News broke this week that Pabst is being sold to a Russian company, which begs the question, “Can we still claim it as our own?”           

Pabst Brewing Explains Intentions of Selling Business

September 23, 2014 9:19 am | by Pabst Brewing Company | News | Comments

Pabst has been an American company since 1844 and will continue to be an American iconic brand with its headquarters in the U.S. The future owners of Pabst are "deeply committed to Pabst's future as an American company."        

Advertisement

Pabst Brewing to be Sold to Russian Company

September 19, 2014 2:00 pm | by Associated Press | News | Comments

The maker of Pabst Blue Ribbon beer is being sold to Russian company Oasis Beverages for an undisclosed sum. Oasis is buying Pabst with TSG, an investment firm known for its work with consumer products companies.      

ConAgra First-Quarter Earnings Nearly Triple

September 19, 2014 10:15 am | by Associated Press | News | Comments

ConAgra's first-quarter earnings nearly tripled as the food producer cut costs and volumes increased. The maker of Chef Boyardee, Hebrew National hot dogs and other packaged foods posted revenue of $3.7 billion, just edging out expectations.

Colbert: The Battle Over Olive Garden's Breadsticks

September 18, 2014 10:00 am | by The Colbert Report | Videos | Comments

Host Stephen Colbert of "The Colbert Report" talks about a major investor's attempts to take over a restaurant chain, but their corporate tactics may incite a populist uprising.                     

North Carolina's Cumberland County Puts Poultry Plant on Hold

September 17, 2014 12:30 pm | by Associated Press | News | Comments

Cumberland County has delayed a decision on a proposed $113 million poultry plant in Cedar Creek near Fayetteville, N.C., after the county commissioners were unable to agree on an incentives package.             

Report: Russian Ban Won't Derail Outlook for Poultry Meat Prices

September 16, 2014 12:55 pm | by Rabobank | News | Comments

Rabobank has issued a new report on the global poultry industry for Q3 2014, saying that the Russian ban on poultry meat imports from the U.S., EU, Canada, Australia and Norway will not derail the bullish outlook for poultry meat prices.   

FreshPet Files For IPO Valued at up to $100M

September 15, 2014 2:47 pm | by Associated Press | News | Comments

FreshPet Inc. didn't say when it plans to go public or how many shares it plans to sell. FreshPet says it makes its foods out of fresh meats and vegetables in a refrigerated facility and does not use contract manufacturers.        

Heineken Rejects SABMiller Takeover Bid

September 15, 2014 9:50 am | by Associated Press | News | Comments

Dutch brewer Heineken says it has rejected a takeover bid by its rival SABMiller. The Heineken family informed SABMiller it intends to preserve the heritage and identity of Heineken as an independent company.                    

Penn. Liquor Board Returns $2.4M in Licensing Fees to Communities

September 15, 2014 8:00 am | by Pennsylvania Liquor Control Board | News | Comments

The Pennsylvania Liquor Control Board oversees the regulation of more than 18,000 liquor licenses and permits statewide, including clubs and beer distributors. As part of the annual license renewal or validation process, licensees pay a fee ranging from $125 to $700.

VIDEO: Expect a Smorgasbord of Deals in Natural, Organic Industry

September 12, 2014 2:30 pm | by The Deal | Videos | Comments

Not only will food giants be looking to buy growth by picking up companies in the fast-growing segment, but private equity firms are also seeking to invest.                                      

Ajinomoto to Acquire US Frozen Foods Maker Windsor

September 10, 2014 12:30 pm | by Kyodo News International, Tokyo | News | Comments

A U.S. subsidiary of Ajinomoto, known widely as the producer of the MSG seasoning, will acquire all shares in Windsor in early November. Ajinomoto hopes to increase frozen food sales in North America from $130 million forecast for the current fiscal year to around 100 billion yen by fiscal 2020.

Halloween Candy Sales Up 12 Percent in the US

September 10, 2014 12:00 pm | by Packaged Facts | News | Comments

Hershey and Mars alone account for roughly 87 percent of Halloween chocolate sales. Mars attributes the success of its Variety Bags as a major area of growth for the company during the holiday.                    

Wild Turkey Bourbon Maker Reaches 60th Year in Business

September 10, 2014 9:11 am | by BRUCE SCHREINER, Associated Press | News | Comments

Celebrating his 60th year in the business, Jimmy Russell has overseen production of about 3 million barrels of bourbon as Wild Turkey's master distiller — enough to fill about 20 million cases, according to the brand's parent company, Italian-based Gruppo Campari.

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
Loading