|
Industry News
Diamond Foods, Inc. entered into
a definitive agreement to acquire Kettle Foods from
Lion Capital LLP for $615 million in cash. Diamond will
acquire Kettle operations in both the U.S. and the UK,
and the deal is expected to close by the end of Diamond's
fiscal year 2010. Full
Story
Thomas
H. Lee Partners entered into a definitive merger agreement
to acquire CKE Restaurants, Inc. for approximately
$928 million. The transaction is expected to close in
the second quarter of 2010. However, under the merger
agreement, CKE Restaurants will actively solicit superior
proposals from third parties until Apr. 6. Full
Story Sign Up Today!
The Food Institute will host a webinar,
A Look at Merger & Acquisition Activity, Past, Present
and Future, on Thursday, Mar. 11 at 12 p.m.
(EST). Following tepid activity last year due to economic
conditions, many analysts see an increase in activity
this year and beyond. To sign up and learn more, click
here.
"Moderate
inflation" in 2010 is expected by Safeway  chairman
and CEO Steve Burd, reported The Wall Street
Journal. "There is a dramatic change in deflation
that has already occurred between the fourth quarter
and the first quarter," the executive noted. Full
Story (WSJ
Subscription Required) For
more on the return of food price inflation, see The
Food Institute Report, Feb. 22. (FI Membership Required)
Walmart
plans to eliminate 20 million metric tons of  greenhouse
gas emissions from its global supply chain by the
end of 2015. Full
Story
Landes Group bought
more than 300 CVS Pharmacy stores located in 33
states. The properties were acquired in several transactions
last year and are valued at almost $1.4 billion, reported
The Dallas Morning News. Full
Story (Free Registration Required)
In response to a recent Daily
Brief survey, "Does inclement weather help or hurt
your business," 18% voted Help, 58% voted Hurt,
8% voted Not Sure and 16% voted N/A.
International News
U.S. suppliers doubled
their exports of consumer-oriented agricultural products
to Bermuda over the past five
years, reaching $99 million in 2009, noted FAS. Despite
its small size, the island enjoys one of the highest
per capita incomes in the world and demand for high-quality
food products is strong. U.S. suppliers will find Bermuda
to be a very receptive market for their products, but
they must be willing to carve their own niche in a competitive
and  sophisticated
retail market, valued at an estimated $327 million in
2009. FAS
Report
Venezuelan president Hugo
Chavez warned Empresas Polar that the government would
take over its operations if its production does
not match quantities and prices specified by the state,
reported Reuters. Full
Story
Health News
Coffee
drinkers have a 27% lower chance of stroke regardless
of the amount or type consumed, according to a University
of Cambridge study presented at the American Stroke
Association's annual stroke conference, reported HealthDay.
Full
Story
Washington News
Dannon must change its health claims
for Activia and DanActive and
pay consumers up to $45 million in damages under the
terms of a class action settlement reached in federal
court, reported ABC News. Full
Story
|
A
Look at Merger & Acquisition Activity, Past,
Present and Future
A
Food Institute Webinar
There
have been over 2,500 divestitures involving
the food industry over the past decade.
Following tepid activity last year due to
economic conditions, many analysts see an
increase in activity this year and beyond.
This webinar, scheduled for Thursday, Mar.
11 at 12 p.m. (EST), will review recent
activity in M & As, which The Food Institute
has been tracking since 1928. You will also
hear from The Food Partners about how companies
are evaluated in this process and what makes
them appealing to sell and to buy. To sign
up for the webinar or learn more, click
here.
|
|
FTC granted early termination of
the waiting period under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976, as amended,
for the agreement and plan of merger with PepsiCo, Inc.
PepsiAmericas and PepsiCo plan to close the merger on
Feb. 26. Full
Story
Market News
The 2010 California avocado crop
is estimated at 470 million-lbs.,
up from 170 million-lbs. in 2009, which promises to
provide some excellent promotional opportunities for
retailers, according to Jan DeLyser, VP of marketing
for the California Avocado Commission, reported The
Produce News. Full
Story
USDA will release its Agricultural
Prices report on Feb. 26 at 3:00 p.m. EST. View
Report
|
