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Food Industry News
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Mission Produce targets 300 basis points of margin expansion as 2035 growth plan takes shape
Mission Produce targets 300 basis points of margin growth and plans to triple adjusted EBITDA by 2035. Find out what investors should watch next.
Uber to buy ezCater for $2.3bn as workplace meals become next delivery battleground
Uber Technologies is buying workplace catering platform ezCater for $2.3 billion in cash, adding more than $2.5 billion of trailing gross bookings and over 140,000 restaurant relationships to Uber Eats and Uber for Business.
Hormel to buy Brakebush for $1.06bn as foodservice chicken bet deepens
Hormel Foods has agreed to acquire family-owned Brakebush Brothers for approximately $1.055 billion, adding about $1.2 billion of annual sales and substantially increasing its exposure to value-added chicken and foodservice customers.
Cal-Maine Foods sales tumble 42% as egg price collapse wipes out quarterly profit
Cal-Maine Foods swung to a $58.6 million loss as egg prices plunged nearly 60%. Find out how specialty eggs and prepared foods may reshape growth.
Nestlé, Unilever and PepsiCo face tougher India red food-label rules
India's food regulator now proposes red front-of-pack warnings when even one of sugar, salt or fat exceeds prescribed limits, broadening potential exposure across packaged-food categories.
Juanita’s Foods shifts manufacturing to Santa Fe Springs after 80 years in Wilmington
Juanita’s Foods has acquired a 120,000-square-foot manufacturing facility in Santa Fe Springs, California, and will consolidate production from its long-time Wilmington site as the 80-year-old Mexican food manufacturer prepares for further growth across retail and foodservice channels.
Kikkoman opens $560m Wisconsin soy sauce plant as U.S. growth enters new phase
Kikkoman Corporation has opened its third U.S. production facility in Jefferson, Wisconsin, creating additional capacity for soy sauce, teriyaki sauce and seasonings after more than a decade of sustained North American growth.
Nestlé’s Russian assets move under external administration as geopolitical risk reaches factories
Nestlé is assessing its options after Russian authorities placed its local operations under external administration, turning years of geopolitical and sanctions-related uncertainty into direct control risk for a business estimated by local analysts to be worth roughly $2 billion.
McCormick’s $65.8bn Unilever Foods deal faces UK competition review
McCormick’s $65.8 billion Unilever Foods deal enters UK review, putting synergies, leverage and regulatory remedies under closer scrutiny.
UK regulator opens inquiry into Unilever and McCormick’s $65bn food deal
Britain’s Competition and Markets Authority has formally opened its Phase 1 investigation into McCormick & Company’s combination with most of Unilever’s foods business, creating a November 11 regulatory milestone for a transaction valued at about $65 billion.