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)

Big Y Foods' proposed 45,000-sq. ft. World Class Market and pharmacy in Berkshire County MA, will represent a new prototype for the grocery chain. Among the format's highlights are prepared meals; a broad selection of specialty foods; a full-service butcher shop; and seafood direct from New England piers. Slated to open in summer 2011, the $15 million market will be Big Y's 57th store, reported Progressive Grocer. Full Story

Walmart plans to eliminate 20 million metric tons of greenhouse gas emissions from its global supply chain by the end of 2015. Full Story

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

Food Institute News

New! The Food Institute and Olsson Frank Weeda Terman Bode Matz PC will host the Implementing An E.coli Control Policy webinar on Tuesday, Mar. 9 at 12 p.m. (EST). The Food Institute gathered a panel of experts to discuss how to prevent and control E. coli outbreaks; how to keep your records in order to avoid shouldering the blame for mishandling foodstuff; and how to deal with a positive finding should it occur. To sign up and learn more, click here.

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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

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.

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

Regulating The New Social Media ... What You Need To Know Before You "Tweet" A Food Institute Webinar Recording Now Available! Many food companies have found a new avenue to promote their products and services via the new "social media" such as Twitter and Facebook. But what regulatory and legal repercussions might companies face in using social media outlets? The Food Institute assembled a panel of experts from government and the private sector to discuss this up and coming means of advertising. To purchase the recording, 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