Industry News

The 500 largest U.S. restaurant chains posted a 1.8% annual sales increase in 2010, according to the Technomic Top 500 Chain Restaurant Report released by Technomic Inc. U.S. systemwide sales for the Top 500 increased to an estimated $234 billion in 2010, up more than $4 billion over 2009. Growth came from the limited-service pizza, donut and coffee and other beverage categories with Starbucks, Dunkin' Donuts and Pizza Hut posting 2010 estimated sales growth of 8.7%, 6.1% and 7.8%, respectively. Full Story

PepsiCo developed a PET plastic bottle made entirely from plant-based, fully renewable resources. PepsiCo's "green" bottle is 100% recyclable and made from bio-based raw materials, including switch grass, pine bark and corn husks. In the future, the company expects to broaden the renewable sources used to create the "green" bottle to include orange peels, potato peels, oat hulls and other agricultural byproducts from its foods business. PepsiCo will pilot production of the new bottle in 2012. Full Story

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.

Sara Lee Corp. will raise prices up to 9% this fiscal year and is preparing its fourth price increase. The company instituted the biggest price increases on its frozen desserts due to higher costs for aluminum, dairy and wheat, according to the company's CEO, who spoke at the Reuters Global Food and Agriculture Summit, reported Reuters. Full Story

Specialty cupcake company Just Baked plans to become a supplier to about 10,000 grocery stores in the next two years, using investment funds from Garden Fresh Gourmet management, and open retail outlets nationwide. The chain plans to have about 50 franchises by the end of 2012 and 200 by 2014, reported MLive.com. Full Story (Free Registration Required)

Hershey consolidated manufacturing plants from 17 to 11 since 2007, saving $185 million annually. The company is also targeting another $100 million in cost cuts by 2012, reported The Wall Street Journal. Full Story (WSJ Subscription Required)

New! Ben Bernanke and the price and power of food are discussed in the Mar. 15 edition of the Lempert Report, featuring Phil Lempert. Click here to view.

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

Food Institute News

NEW! The Food Institute will present two webinars in April. Shopper Insights: Actionable or Academic?, scheduled for 12 p.m. (EST) Apr. 6, will feature Nadine Hernandez, Director, Shopper Insights Worldwide Industry Marketing, DemandTec and Roy White, Business Development Executive, RetailWire. The webinar will provide detailed results of an in-depth survey addressing Shopper Insights, including, but not limited to the role of Shopper Insights in collaboration and the relative value of Shopper Insights to trade participants. The Food Institute is also presenting Mergers and Acquisitions in the Food Industry: "The Art of the Deal". The webinar, to be held 12 p.m. (EST) Apr. 12, will feature Karen G. Bokat, Consulting Council, Wiley Rein LLP and Mary L. Burke, Principal, Lakeshore Food Advisors, LLC. This webinar will evaluate Merger and Acquisition activity in the recent past and concentrate on offering strategies for the future. Those who sign up for the webinar will have the opportunity to purchase an electronic copy of the just-published Food Business Mergers and Acquisitions book from the Food Institute for only $199 (regularly $295). Both webinars will be moderated by Food Institute President Brian Todd.

J. M. Degen & Company J. M. Degen & Company is a market research and consulting firm focused on all channels of the food industry. In addition to providing proprietary market research and consulting to food manufacturers, the Degen Company also publishes research reports for general subscription under the name Supermerchants®. Supermerchants overview reports cover various retailing channels such as membership warehouse clubs, supercenters, specialty wholesale-retailers including dollar stores and convenience retailers such as drug stores, convenience stores To learn more about this Food Institute member, please visit: www.degenconsulting.com. Interested in seeing your company featured here? Email us for more details.

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International News

Analysts expect more land in Latin America, Africa and the Black Sea region to be planted with crops such as corn, wheat and soybeans. Brazil and Argentina are already on track for a second straight year of bumper production to feed growing demand led by China and India, reported Reuters. Full Story

French farm investor AgroGeneration aims to double its business in Ukraine and begin business in Argentina. The company is looking to make two or three acquisitions, reported Reuters. Full Story

Health News

Women may be less likely to develop premenstrual syndrome if they eat a diet rich in two types of B vitamins, thiamine (B1) and riboflavin (B2), according to a study published in American Journal of Clinical Nutrition, reported HealthDay. Full Story

Washington News

Niagara Foods Inc., Riley Produce Inc. and Somerset Industries Inc. are restricted from operating in the produce industry. USDA imposed sanctions on the produce businesses for failing to pay reparation awards issued under the Perishable Agricultural Commodities Act. Full Story

Market News

The U.S. poultry industry could see "substantial reductions in production" this year if crop problems drive feed prices higher, stated the CEO of Sanderson Farms. Despite some poultry price increases, struggling U.S. chicken producers are still losing money due to historically high feed costs, noted the executive, who spoke at the Reuters Food and Agriculture Summit, reported Reuters. Full Story

U. S. Bankruptcy Court, E.D.CA In re SK Foods, L.P., Case No. 09-29162-D-11, and In re RHM Industrial/Specialty Foods, Inc., Case No. 09-29161-D-11. TO: ALL PERSONS AND ENTITIES WHO, DURING THE PERIOD OF 2005 THROUGH 2008 INCLUSIVE, PURCHASED TOMATO AND TOMATO BASED PRODUCTS IN THE UNITED STATES DIRECTLY FROM SK FOODS, L.P., AND RHM INDUSTRIAL/SPECIALTY FOODS, INC. (THE "DEBTORS"), INGOMAR PACKING CO., LLP, LOS GATOS TOMATO PRODUCTS, INTRAMARK USA, INC., AND RANDALL LEE RAHAL: YOU ARE HEREBY NOTIFIED that you may be a member of a class ("Class") of claimants entitled to share in a financial settlement ("Settlement") made against the Debtors in their consolidated bankruptcy cases. However, remaining in the Class will result in you being bound by the Settlement, which means you will not be able to make any separate claim against the Debtors, on the same basis as the Class' claims. YOU HAVE UNTIL MAY 16, 2011, TO EXCLUDE YOURSELF FROM THE CLASS. The Class' claims, which are being settled, allege that the Debtors and others, have engaged in a conspiracy to fix prices and allocate market share among themselves, resulting in purchasers overpaying for tomatoes. The Settlement allows members of the Class to share in general unsecured claims against the Debtor's estate, in the aggregate amount of $10.6 million. The Class will also share in unsecured claims in the aggregate amount of $59.4 million, which are subordinated to (paid after) all other general unsecured claims. IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, and you have not received a copy of the full printed Notice of these proceedings or you have questions, you should contact Class Representatives' counsel: Stephen Neuwirth, Quinn Emanuel, et al., 51 Madison Avenue, 22nd Floor, New York, New York 10010, T: 212-849-7000, F: 212-849-7100; or Michael P. Lehmann, Hausfeld LLP, 44 Montgomery Street, Suite 3400, San Francisco, CA 94104, T: 415-633-1908, F: 415-358-4980. If you are a member of the Class and wish to exclude yourself from the Class and the Settlement, you must send a written request to be excluded, by certified mail, postmarked by May 16, 2011 to Class Representatives' counsel and to Kevin W. Coleman, Schnader Harrison Segal & Lewis LLP, 1 Montgomery Street, Suite 2200, San Francisco, CA 94014.