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Gas Prices Lead to 'Positive Near-Term Economic Outlook'

February 27, 2015 3:45 pm | by Andy Szal, Digital Reporter | News | Comments

A new report from the Manufacturers Alliance for Productivity and Innovation anticipates modest economic growth in 2015, in large part due to the impact of lower gas prices on consumer spending.

Oil Decline Likely to Benefit Food Prices

February 27, 2015 1:45 pm | by Andy Szal, Digital Reporter | News | Comments

Falling oil prices in recent months dramatically reduced prices at the gas pump, which in turn...

PepsiCo to Utilize E-Commerce For India Sales

February 27, 2015 8:40 am | by Andy Szal, Digital Reporter | News | Comments

Food and beverage giant PepsiCo is preparing a big push into India's burgeoning e-commerce...

EU Investigating Chocolate Merger Between Cargill, ADM

February 25, 2015 1:40 pm | by Andy Szal, Real Time Digital Reporter | News | Comments

European Union authorities recently announced an investigation of a proposed deal between...

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Daily news and top headlines for food manufacturing professionals

Campbell Soup's 2Q Profit Falls on Weak Soup Sales

February 25, 2015 11:10 am | by Associated Press | News | Comments

The company, whose brands also include V8 juice, Pepperidge Farm cookies and Prego pasta sauce, has been struggling as American's change tastes and shift away from processed foods and preservatives. 

Surging Dollar Takes Bite From US Corporate Profits

February 23, 2015 11:45 am | by Matthew Craft, AP Business Writer | News | Comments

The biggest obstacle for Coca-Cola and Pepsi these days isn't tied to taste tests, the declining popularity of sugary drinks or even their century-long rivalry. It's the surging U.S. dollar.

NAMI Applauds Agreement in Nine-Month West Coast Port Labor Dispute

February 23, 2015 7:15 am | by NAMI | News | Comments

The dispute and resulting slowdowns have cost the meat, poultry, hide, skin and leather industries an estimated $85 million a week. While the deal between the two sides is a crucial step to ending this slowdown, the impact will continue to be felt.

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McCormick to Buy Italian Season Maker

February 20, 2015 12:10 pm | by The Associated Press | News | Comments

Spice seller McCormick & Co. is adding some Italian flavor to its lineup by paying up to $97 million for the more than century-old Drogheria & Alimentari.

FTC Moves to Block Sysco's $3.5B Purchase of US Foods

February 20, 2015 8:00 am | by Associated Press | News | Comments

Antitrust regulators are challenging the $3.5 billion sale of US Foods to Sysco, saying the deal would hurt customers by reducing competition between food supply companies. Sysco Corp. agreed to buy US Foods in December 2013, saying they would create a company with $65 billion in annual revenue.

Butterball Acquires Second North Carolina Processing Facility

February 20, 2015 7:15 am | by Butterball, LLC | News | Comments

The purchase of the facility, closed by its previous owners in December 2014, will help Butterball continue to meet growing consumer demand for a variety of Butterball turkey products.

Nestle Profits Rise, But Held Back By Weak Pricing in Europe

February 19, 2015 2:45 pm | by DAVID McHUGH, AP Business Writer | News | Comments

Nestle S.A. says net profit rose 44 percent last year. But annual sales fell in Swiss franc terms due to hesitant consumers in Europe and shifting exchange rates. 

Colorado Considers Paying Nearly $1M to Get More Local Food in Schools

February 19, 2015 8:15 am | by KRISTEN WYATT, Associated Press | News | Comments

A Colorado bill to spend about $5 million to put more local produce in school cafeterias passed its first test Wednesday at the Legislature. But the measure passed by a single vote after complaints that it takes money from classroom instruction.

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Barefoot Contessa Files Lawsuit Against California Company Over Frozen Dinners

February 18, 2015 8:55 am | by Associated Press | News | Comments

The Barefoot Contessa says in a lawsuit that a California company sold unauthorized look-alikes of her frozen dinners. The host of the Food Network's "Barefoot Contessa" cooking show filed the suit after she says the company declined to stop the sales.

Golden State Foods Corp. Planning New Alabama Plant, 173 New Jobs

February 18, 2015 7:45 am | by Associated Press | News | Comments

Golden State Foods Corp., headquartered in Irvine, California, is planning to build a meat processing facility at a cost of between $40 million and $45 million.

Gildan Activewear CFO Resigns to Take Same Post at Kraft

February 17, 2015 1:00 pm | by Associated Press | News | Comments

Gildan Activewear Inc.'s chief financial officer, James Kehoe, has resigned after about a month with the clothing company in order to take the same position at his former employer, Kraft Foods Group Inc. Kehoe, who also served as executive vice president and chief administrative officer at Gildan, had joined the company in January.

Burger King, Tim Hortons Parent Reports Loss on Deal Costs

February 17, 2015 12:30 pm | by Associated Press | News | Comments

Burger King and Tim Hortons parent company Restaurant Brands International reported a loss for its fourth quarter, dragged down by costs related to the deal to combine the two chains.

Mondelez International Acquires Enjoy Life Foods

February 17, 2015 8:05 am | by Mondelez International | News | Comments

Mondelez International on Monday announced the acquisition of Enjoy Life Foods, a private U.S. snacking company and the market-leading brand in the fast-growing "free from" segment. Enjoy Life offers more than 40 great-tasting products, including cookies, chocolate, snack bars, and savory snacks that are allergy-friendly and gluten-free

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Ex-Smucker Employee Sentenced to Prison For Stealing $4.1M

February 13, 2015 1:23 pm | News | Comments

A former employee of the J.M. Smucker Co. in northeast Ohio has been sentenced to nearly five years in federal prison for stealing $4 million from the company over a 16-year-period. The employee was accused of creating a fraudulent billing scheme that led him to submit false invoices for parts and services for which he would receive payment.

Smucker Posts Mixed Results in 3Q as Coffee Demand Weakens

February 13, 2015 10:05 am | by Associated Press | News | Comments

J.M. Smucker Co. posted mixed results for its third-quarter as it dealt with softening coffee demand. The food maker posted a profit of $160.9 million, or $1.58 per share, for the period ended Jan. 31.

Global Frozen Food Market Value Will Reach $156.4B By 2020

February 13, 2015 8:25 am | by Persistence Market Research | News | Comments

Busy life schedule is influencing consumers to shift their dietary preferences towards ready-to-eat food products. Hence, frozen foods have become an important part of the modern diet. Freezing or refrigeration allows consumers to have access to foods which were either unavailable or available only during a particular season.

UK's Nutritional Research Funding Comes From Sugar

February 12, 2015 10:23 am | by British Medical Journal | News | Comments

Public health scientists and a government committee working on nutritional advice receive funding from the very companies whose products are widely held to be responsible for the obesity crisis, BMJ reports. The findings raise important questions about the potential for bias and conflict of interest among public health experts as the UK faces a growing obesity epidemic.

Nestle Takes on Hershey's in Licorice Wars

February 12, 2015 9:45 am | by NBC News | Videos | Comments

The Hershey Co. currently dominates the licorice market with a more than two-thirds share, mainly from Twizzlers. But according to NBC News, Nestle wants to take a bite out of the $300 million licorice market with its new SweeTARTS Soft & Chewy Ropes.

Greater R&D Tax Credit Opportunities For Manufacturers

February 12, 2015 8:45 am | by Chris Bard and Chai Hoang, BDO USA | Articles | Comments

Manufacturing companies attempting to develop new or improved products, processes, or software are eligible for federal and state R&D tax credits. These credits can equal up to 15 percent or more of qualified spending costs, i.e., taxable wages, supply expenses, and a percentage of contract research expenses related to research. 

Kellogg Reports Loss of $293M in 4Q

February 12, 2015 8:20 am | by Associated Press | News | Comments

Kellogg Co. reported a fourth-quarter loss of $293 million, after reporting a profit in the same period a year earlier. The Michigan-based company said it had a loss of 82 cents on a per-share basis.

Frito-Lay Snacks Help PepsiCo Deliver Quarterly Profit

February 11, 2015 8:55 am | by Associated Press | News | Comments

Stronger sales of Frito-Lay snacks helped PepsiCo deliver a quarterly profit that came in above Wall Street expectations on Wednesday. During the period, PepsiCo said revenue for its Frito-Lay North America division rose 3.5 percent, boosted by a mix of stronger volume and higher prices.

Molson Coors 4Q Profit Disappoints on Falling Beer Sales

February 10, 2015 2:55 pm | by Associated Press | News | Comments

Molson Coors Brewing Co. reported fourth-quarter earnings that fell short of Wall Street's forecasts. Its worldwide beer volume fell 0.3 percent. Molson Coors said a spate of issues including stronger U.S. currency will leave it with less free cash in 2015.

Sysco, US Foods Merger Faces Skepticism, Doubts About Remedies

February 10, 2015 12:30 pm | by International Brotherhood of Teamsters | News | Comments

Consumer advocates warn that the deal merging the top two broadline foodservice distributors — the only two with national industry footprints and national customers — would eliminate a significant competitor from the broadline industry and also reduce competition.

Coke Profit Pops on Higher Prices in North America

February 10, 2015 9:35 am | by CANDICE CHOI, AP Food Industry Writer | News | Comments

The world's biggest beverage maker is struggling to boost global sales volume amid economic volatility overseas and a shift away from soda back at home. To make up for weak volume gains, it's using a variety of tactics, including a focus on smaller bottles.

Dean Foods Profits in 4Q, Misses Street Forecasts

February 10, 2015 9:15 am | by Associated Press | News | Comments

For the three months ending on Dec. 31, Dean Foods Co. earned $5.3 million, or 6 cents per share. That compares with a loss of $37.7 million, or 40 cents per share, a year earlier. The results fell short of Wall Street expectations.    

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