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The strategy outline has the support of Elliott Investment Management, which in September called for PepsiCo to become a more “streamlined” business.
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Manufacturers have until 1 January 2027 to remove the ingredients or, from that date, use the warning labels.
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The deal will see Campbell’s initially buy 49% of La Regina, the co-manufacturer for the soup giant’s Rao’s sauces.
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The watchdog said it assessed a wide range of “evidence” including internal documents and data gathered from third parties.
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The latest funding includes participation from Unigrains Italia, BNP Paribas BNL Equity Investments, Hydra and Alexa Invest.
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The deal with Arnott’s follows the fund’s A$36m debt funding deal with Patties Foods Group to help the pie major “modernise” production.
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The long-awaited demerger from Unilever sets course toward achieving 3-5% medium term organic sales growth target.
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The new order said anti-competitive conduct, “especially when carried out by foreign-controlled corporations, threatens the stability and affordability of America’s food supply”.
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