| Industry
News JBS SA plans to make a takeover offer
of around $21 a share for Sara Lee Corp., according
to two people with knowledge of the matter. Blackstone Group LP is working with
JBS on a bid and would be interested in taking over Sara Lee's coffee business.
JBS plans to submit a formal offer late Jan. 26, reported Bloomberg.com.
Full
Story Meanwhile, Sara Lee Corp. rejected a buyout offer by private equity
firms Apollo Management, Bain Capital and TPG Capital, claiming it was too
low, The New York Post reported, citing two sources close to the process,
reported Reuters. Full
Story 
New!
The Jan. 26 edition of New Products Hits and Misses with Phil Lempert profiles
Sweet Leaf Green Tea Organic Citrus Flavor, Popcorners Popped Corn Chips Kettle
Flavor  and
Porta Mangiare Calabrese Meatball Mix. Five new products are evaluated weekly.
Click
here to view. Cumberland Farms began testing
a drive-thru store in Kingston, MA and plans to add a few more by summer.
Customers may purchase any of the store's 3,000 items from their automobiles,
reported Boston Herald. Full
Story Smart Balance, Inc. acquired the Bestlife
brand and  website,
converting from a licensing arrangement to outright ownership
and control. The company is planning to increase prices for its spreads brands
in mid-February due to commodity pressure. In addition, the company is also planning
pricing actions on cooking oil and mayonnaise beginning in March. Full
Story Smithfield Foods is expecting to sell
approximately five million-lbs. of Paula Deen-labeled
spiral hams in 2011, up from two million-lbs. in fiscal 2008. Margins for Deen's
hams are double those of Smithfield's other spirals, reported The Virginian-Pilot.
Full
Story International
News Walmart Canada plans to open 40 supercenters in
the company's next fiscal year. The company is bringing the supercenter program
to two new provinces in 2011, Manitoba  and
Quebec. Full
Story Canada's Minister of Veterans Affairs
and Minister of State launched the Industry-Government Food Processing Action
Plan. The actions in the plan target four key areas of economics, market access,
innovation and the regulatory environment, and most of the actions recommended
are expected to be completed over the next 12 months. Full
Story Health News Children
that consume salty snacks more than three times per week have a 4.8 times higher
risk of having asthma symptoms, according to a Greek study published in Journal
of the American Dietetic Association. Children eating a Mediterranean diet
were less likely to have asthma symptoms, reported UPI. Full
Story Washington
News Javo
Beverage Company, Inc. will file a voluntary petition for reorganization under
Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District
of Delaware. In conjunction with the filing, the company entered into a binding
Plan Commitment Letter Agreement with investor Coffee Holdings, LLC to co-sponsor
a prearranged plan of reorganization that they intend to file by Feb. 7. The company
expects confirmation of the plan of reorganization by May 1. Full
Story 
A
federal court judge rejected a lawsuit against Snapple Beverage Corp. that
alleged the company misled consumers by labeling drinks containing high fructose
corn syrup as 'all-natural,' reported Law360.com. Full
Story (Subscription Required), Full
Docket Market News A
month-long ban on cocoa exports from the Ivory Coast will not
affect Mars Inc.'s production in the near term. Cargill Inc. is temporarily
suspending purchases in Ivory Coast, while Barry Callebaut stated that it has
sufficient cocoa stocks to cover its processing needs, reported The Wall Street
Journal. Full
Story (WSJ Subscription Required) Meanwhile, European trade group Caobisco
stated that the political impasse may not last long enough to cause significant
chocolate shortages, reported Bloomberg.com. Full
Story 
California
asparagus growers expect steady demand for the crop, which is expected to
be slightly over 40 million-lbs., similar to the 2010 harvest, reported The
Produce News. Full
Story | 
