South Africa’s Pioneer Food Group this week announced a move to add a branded business to its private-label operations in the UK, with a deal for Fruit Bowl maker Stream Foods. In the US, baked goods group Give and Go finalised its sale to private-equity firm Thomas H. Lee Partners. And, amid this week’s run of financial results, Kellogg’s stood out for its new targets on some profitability metrics. Click on the headlines for more.
South Africa’s Pioneer Food Group has struck a deal to buy Stream Foods, the UK producer of the children’s snacking brand Fruit Bowl, from local business Wellness Foods.
Canadian thaw-and-serve baked goods company Give and Go Prepared Foods Corp said today (4 August) that it had completed its sale to affiliates of private-equity group Thomas H. Lee Partners.
Kellogg has lifted its forecast for underlying earnings per share for 2016 – and raised its target for underlying operating margin for 2017/18.
US soup maker Kettle Cuisine has acquired California-based Del Monaco Foods in a move the company claimed creates the “first coast-to-coast” fresh soup supplier in the US.
The US government has reached an agreement under which Brazil will open up its market to US beef and beef products for the first time since 2003.
The Hershey Trust, which owns over 80% of the US confectioner’s voting rights, has reached an agreement with the Pennsylvania Attorney General’s office to settle concerns over its governance – and there could be consequences for Mondelez International’s interest in the Reese’s maker.
Consumer demand for natural and organic foods is ballooning in developed markets and the sector is expanding its appeal to mainstream consumers. As a result, the category has disrupted the increasingly fragmented food industry, challenging legacy brands that have seen sales eroded.
Post Holdings has added a new range of Clean Whey protein bars and drinks to its PowerBar range as part of a move to relaunch the brand.