Industry News

Pinnacle Foods Group LLC signed a definitive agreement to acquire Birds Eye Foods, Inc. from a holding company controlled by Vestar Capital Partners, Pro-Fac Cooperative, and Birds Eye management in a transaction valued at $1.3 billion. Full Story

Almost 90% of shoppers currently purchase store brands with measurable frequency, according to International Dairy-Deli-Bakery Association's The New Value Shopper report. Nearly half of all consumers currently purchase store brands "all the time" as part of their regular shopping behavior. Another 43% do so occasionally, with 12% doing so rarely or never at all. Full Story

U.S. Foodservice plans to close its Virginia Beach facility by the end of January, reported Roanoke Times. Full Story

Nestle Professional agreed to acquire Vitality Foodservice Inc., which manufactures and markets various beverage products. The transaction excludes the Vitality European manufacturing and distribution business. Full Story Organized into over 25 categories, the Food Institute's Food Business Mergers & Acquisitions 2008 guide provides a detailed analysis of the close to 400 mergers and acquisitions recorded in 2008. With consolidation a powerful force in the food industry, a lack of awareness of market trends and contemporary acquisitions may result in lost opportunities or a mismanaged deal. The Food Business Mergers & Acquisitions 2008 book allows one to gain a better understanding of the current climate for mergers in each industry. To purchase the book, click here.

View Today! Click here to watch The Lempert Report, featuring data from The Food Institute. New videos are posted each Thursday. The Nov. 19 report focuses on the supermarket industry. Mergers and sales figures from the Census Bureau are discussed.

Bruegger's Bagels, Fazoli's Restaurants, Friendly's Ice Cream, Smokey Bones Bar & Fire Grill and Timothy's Coffees of the World Inc. joined forces to target non-traditional concession opportunities around the country, including food courts at airports, universities and hospitals. Full Story

Latest sales & earnings for food related companies (Updated Daily - FI Membership Required)

Food Institute News

Willard Bishop and the Food Institute presented The Future of Food Retailing Webinar, which highlighted future trends in the industry. Certain retailers are leveraging the economic downturn to their advantage, which will change the landscape for suppliers and retailers as a whole. To purchase a recording of the webinar for $149, click here. FI Members, pay $99 with your Member Rewards Card!

Champaca Company, Ltd. One of the Food Institute first members from Thailand, Champaca Company, Ltd. has 30 years experience in Thailand's exports of Canned Seafood and Fruits. Champaca specializes in developing and managing Private Label programs for customers all over the world by offering their expertise in procurement, after sales service and quality control. To learn more about this 28-year Food Institute member, visit: www.champaca.com. Interested in seeing your company featured here? Email us for more details.

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International News

Kellogg plans to cut sodium levels to 200 mg in nine breakfast cereals in its Canadian portfolio by early 2011, according to Christine Lowry, Kellogg Canada's vice president of nutrition and corporate affairs, reported Food Navigator USA. Full Story

Health News

Seniors who consumed three or more servings of vegetables daily had a 30% lower risk for dying from heart disease and a 15% lower risk for dying from any cause during the follow-up period than those who ate fewer than three servings of vegetables a day, according to a study by researchers at the Drexel University School of Public Health, reported HealthDay. Full Story

NEED HELP COMPLYING WITH THE BIOTERRORISM ACT? A convenient reference source and guide to the Bioterrorism Act, as well as federal regulations and policies implementing the Bioterrorism Act, is available from The Food Institute. Authored by Olsson, Frank & Weeda, P.C., this guide can assist U.S. and foreign food industry users in understanding not only the strict legal requirements, but also FDA’s findings, conclusions, and views as set forth in rulemaking preambles and other documents. For more information or to order the book, click here.

Washington News

The Senate Health, Education, Labor and Pensions Committee approved a plan to overhaul U.S. food-safety laws. The measure would give FDA new power to pull tainted foods off store shelves, require more frequent inspections of processing facilities, impose tougher standards on imported foods and require companies to develop plans to prevent outbreaks. The measure omits a House-backed proposal to charge companies a $500 annual fee to help pay for the additional inspections, reported Bloomberg.com. Full Story

The Penn Traffic Company filed for Chapter 11 bankruptcy and plans to sell its stores and other assets. The company operates supermarkets in Upstate New York, Pennsylvania, Vermont and New Hampshire under the P&C Foods, Bi-Lo Foods and Quality Markets names. Penn Traffic listed assets of $150.4 million and debt of $136.9 million. Full Story

Market News

Prices for Florida tomatoes remained high in mid-November, and will likely stay high at least through the end of the month, particularly with strong Thanksgiving demand, reported The Packer Online. Full Story (Subscription Required)

The Daily Update is a substantially abbreviated version of Today In Food. You can get a subscription to Today In Food, which usually has over 30 news items each day, as well as access to the archives for just $49.95 per year. Click here to sign up.