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Dr Pepper Snapple Group 2Q Profits Climb 35 Percent

July 24, 2014 10:03 am | by Associated Press | News | Comments

The maker of beverages such as Dr Pepper, 7Up and Mott's reported its second quarter earnings with a 35 percent increase, topping expectations. Dr Pepper Snapple Group, based in Plano, Texas, said its net income increased to $210 million from $155 million.

OSI Meat Scandal in China Causes Yum Brands to Terminate Deal

July 24, 2014 8:00 am | by Associated Press | News | Comments

OSI Group, a privately-held company based in Aurora,...

Cheaper Prices, New Lay's Flavors Boost PepsiCo Sales

July 23, 2014 12:10 pm | by Associated Press | News | Comments

PepsiCo said global volume for both its snacks and drinks rose 1 percent in the second quarter....

Quebec-Based Agropur to Become 5th-Largest Cheese Processor in US

July 23, 2014 9:15 am | by Ross Marowits, The Canadian Press | News | Comments

Canada's largest dairy co-operative, Agropur, is doubling its U.S. processing operations with a...

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Coca-Cola Sales Up, Thirst for Diet Coke Fizzles

July 22, 2014 12:32 pm | by Associated Press | News | Comments

Coca-Cola, the world's largest beverage maker, said its quarterly sales fell short of estimates as the demand for Diet Coke has fizzled out. The sales volume, however, rose 3 percent, boosted by the gains in China, India and the Middle East.

Changing Eating Habits Causes McDonald's Sales to Slip

July 22, 2014 12:09 pm | by Associated Press | News | Comments

The world's largest hamburger chain, McDonald's, is struggling to boost its sales due to changing eating habits and the persistent financial struggles of lower-income customers. Sales fell approximately 1.5 percent for the second quarter.

KeHE Buys Nature's Best to Broaden Organic Food Channel

July 18, 2014 10:45 am | by KeHE Distributors, LLC | News | Comments

KeHe Distributors has agreed to purchase Nature's Best — a California-based distributor of natural food products like nutrition bars. KeHE's acquisition of the company is in part to expand its national distribution of natural and organic products.

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Oregon Sues 5-Hour Energy Over False Ad Claims

July 18, 2014 8:10 am | by STEVEN DUBOIS, Associated Press | News | Comments

Oregon is sueing 5-Hour Energy for falsely claiming customers get extra energy and focus from a unique blend of ingredients, when in truth the boost comes from a concentrated dose of caffeine. The suit also targets claims that the product is OK for adolescents.

Yum Brands Hurt by KFC, Pizza Hut Sluggish Sales

July 17, 2014 9:09 am | by Associated Press | News | Comments

While Yum Brands Inc, a Kentucky-based company who operates KFC, Taco Bell and Pizza Hut, reported a 19 percent increase in its second-quarter profits from its rebounding business in China, sales in the U.S. continue to drop as much as 4 percent.

Infographic: Grocery Prices Skyrocket as Beef, Fruit Costs are Up

July 17, 2014 8:08 am | by Labor Department USDA | News | Comments

The rise in prices of certain foods, like beef and fresh fruits, is outpacing overall inflation. With the pricey costs of eating, there has also been a hike in consumer-price indexes for food at home, more commonly known as groceries. 

Reduced Food Prices Bring Grocery Bill Relief

July 16, 2014 9:22 am | by Associated Press | News | Comments

After four months of increases, wholesale food prices fell 0.2 percent in May. That should bring some grocery bill relief. Food costs had been rising because crops were damaged by a drought in California and brutal winter storms in the Midwest.

Will Colombians Jump Ship to Starbucks Coffee?

July 16, 2014 9:14 am | by JOSHUA GOODMAN, Associated Press | News | Comments

Starbucks is making its much-anticipated debut in the country synonymous with coffee after years of roasting Colombia's Arabica beans for billions of java lovers the world over. But will Colombians answer Starbucks' siren call and ditch a popular local chain favorite?

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Hershey's Not so Sweet Deal: Raising Candy Prices by 8 Percent

July 16, 2014 8:04 am | by Associated Press | News | Comments

Hershey Company, known for its Kit Kat, Reese's and Hershey candy bars, is raising its prices as the costs for ingredients such as cocoa, dairy and nuts have risen since the beginning of the year. The company said it expects most prices to rise about 8 percent.

Maplehurst Bakeries Plans $78M Expansion

July 15, 2014 8:30 am | by Associated Press | News | Comments

Maplehurst Bakeries, located in central Indiana and known for their distribution and manufacturing operations for cakes and cupcakes, is planning a $78 million expansion. The renovation will include a 180,000 square-foot plant in Lebanon to house its operations.

Dippin' Dots Owner Agrees to Buy Crumbs Bake Shop

July 15, 2014 8:00 am | by Associated Press | News | Comments

Lemonis and Fischer Enterprises, the company behind Dippin' Dots ice cream, has agreed to buy Crumbs Bake Shop out of Chapter 11 bankruptcy. The investor group hopes to close a sale in about 60 days pending approval from the bankruptcy court.

Dairy Farmers of America Reaches $50M in Dean Foods Antitrust Settlement

July 15, 2014 8:00 am | by LISA RATHKE, Associated Press | News | Comments

The cooperative Dairy Farmers of America will pay $50 million to settle antitrust allegations filed against them in 2009. Thousands of Northeast dairy farmers filed suit against Dallas-based Dean Foods and DFA for working together to monopolize the market for raw milk.

ConAgra Buys Chinese Potato Processor for $93M

July 14, 2014 12:00 pm | by Associated Press | News | Comments

ConAgra Foods, famous for its Hunts and Healthy Choice brands, bought TaiMei Potato Industry, a Chinese processor, for $93 million. ConAgra said the purchase will help the company sell more frozen potato products, like french fries and mashed potatoes, throughout Asia. 

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Indiana Plans 60- Acre Aquaculture Park

July 14, 2014 11:30 am | by The Star Press, Muncie, Indiana | News | Comments

Indiana is working on developing the state's first aquaculture park, a 60-acre facility, in hopes of attracting more business to build up the fish production in the area. The proposed park would be near the Delaware County town of Albany.

Lindt & Spruengli Buys Russell Stover

July 14, 2014 8:36 am | by Associated Press | News | Comments

Lindt & Spruengli, a Swiss chocolate maker, is purchasing Russell Stover Candies, Inc for an unknown amount. The CEO of the Swiss company says the purchase will provide the company with a unique opportunity for them to expand in North America. 

Report: Drought, Livestock Disease Likely to Increase US Food Prices

July 11, 2014 12:19 pm | by Euler Hermes | News | Comments

U.S. consumers should expect higher grocery store prices as drought and livestock disease have negatively impacted food supply, says a new report. Several products, such as lettuce and grapes are expected to have lower yields than in years past due to water shortage.

Unilever Drops Weight by Selling Slim-Fast

July 11, 2014 8:20 am | by Kainos Capital | News | Comments

Unilever sold its Slim-Fast brand to Kainos Capital. Comprised of weight loss and meal replacement shakes, powders, bars and snacks, Slim-Fast will be added to the firm's portfolio of health and wellness companies. Unilever will retain a minority stake in the business. 

John Wayne Heirs Sue Over 'Duke' Bourbon

July 10, 2014 12:00 pm | by MICHAEL BIESECKER, Associated Press | News | Comments

The heirs of John Wayne filed a federal lawsuit against Duke University for marketing bottles of bourbon branded with the late movie star's nickname, Duke. The bourbon is labeled with an image of Wayne holding a rifle with "Duke" emblazoned over it in bold letters.

China's Food Costs Rise Almost 4 Percent in June

July 9, 2014 9:40 am | by Associated Press | News | Comments

China's food costs rose 3.7 percent in June after surging 4.1 percent the month before on a rebound in prices for pork, a staple meat in China. However, the country's inflation rate remains below the 3.5 percent annual target set by the ruling Communist Party.

Equipment, Software Investments Expected to Grow in Q3

July 8, 2014 2:15 pm | by Equipment Leasing & Finance Foundation | News | Comments

The Q3 Equipment Leasing & Finance U.S. Economic Outlook report shows equipment and software investment to grow during the rest of the year after a weak start.  Materials handling equipment will show stronger growth over the next half year.

Egypt's President Doubles Beer Tax to 200 Percent

July 8, 2014 8:30 am | by SARAH EL DEEB, Associated Press | News | Comments

In a move to ease the country's staggering budget deficit, Egyptian President Abdel-Fattah el-Sissi doubled an already existing tax on beer, from 100 percent to 200 percent, and increased the tax on local and imported wines to 150 percent.

Moving on: Selling Your Business at a Premium

July 8, 2014 8:27 am | by Peter Arendt, Managing Director, Food and Agribusiness, Huntington Bank | Articles | Comments

Whether you’re Hormel Foods buying Muscle Milk or simply have made the decision to sell the business you spent a lifetime building, there are plenty of buyers. However, finding the right buyer and structuring the transaction can be daunting. 

Archer Daniels Midland Adds Natural Flavors to Portfolio for $3B

July 8, 2014 8:20 am | by Associated Press | News | Comments

Archer Daniels Midland is adding natural flavors to its portfolio by acquiring the privately held Swiss company Wild Flavors in an all-cash deal that will total $3.13 billion. ADM makes sweeteners and emulsifiers for an array of packaged foods and drinks.

Former Anheuser-Busch Exec. Seeks New Trial

July 8, 2014 8:05 am | by Associated Press | News | Comments

Francine Katz, a former Anheuser-Busch executive, is seeking a new trial for gender discrimination after unsuccessfully suing the company in May. Katz worked for the brewing company for two decades and claims she was paid significantly less than her male predecessors.

Rabobank Expects Continued Record-High US Cattle Prices

July 7, 2014 12:39 pm | by Rabobank | News | Comments

In a new report on the global beef industry, Rabobank says that the global beef market will regain its positive momentum in Q3, once the current, temporarily high supply has worked through the system. Beef imports to China are historically very high.

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