Industry News

The food and agriculture sector could see fewer mergers and acquisitions in 2011 as volatile commodity prices limit the appetite for deals, stated the head of the food and consumer group at BMO Capital Markets, who spoke at the Reuters Global Food and Agriculture Summit, reported Reuters. Full Story Just Released! Place your order for The Food Institute's new Food Business Mergers & Acquisitions 2010 book to receive a comprehensive look at the most significant deals of the previous year and view into what 2011 may bring. To order and for more information, click here. And, on Apr. 12, The Food Institute will sponsor an hour-long webinar on mergers and acquisitions, consolidation and government involvement. Click here for more details.

Walmart detailed plans for six stores in Chicago. The company plans two Walmart Express outlets (scheduled for summer 2011 and winter 2012), two Walmart Market locations (opening fall 2011 and spring 2012) and two Supercenters (to open in spring 2012 and spring 2013). Full Story

Visits to the leading fast casual restaurant chains grew 17% over the last three years while the rest of the industry experienced its steepest traffic declines in decades, and consumer demand for fast casual offerings exceeded the unit growth of leading fast casual chains, according to The NPD Group. Meanwhile, for the year ending December 2010, visits to the leading fast casual restaurant chain including Chipotle, Five Guys Burgers and Fries, Noodles & Company and Panera, were up 6% for year the ending December 2010 versus the year prior. Full Story

Companies across the food industry are raising prices, cutting expenses and in some cases altering portion sizes and ingredients as they deal with increased costs, executives stated at the Reuters Global Food and Agriculture Summit. Hormel Foods Corp., which already raised prices on more than half of its portfolio in the past several months, is studying whether to increase prices again, reported Reuters. Full Story

Ben E. Keith Co. will break ground next week on a 450,000-sq. ft. distribution complex and office in Fort Bend County, TX. The facility, which includes a 400,000-sq. ft. warehouse, will serve southeast Texas and Louisiana, reported Houston Chronicle. Full Story (Free Registration Required)

New! Pork's new ad campaign has a big job ahead, according to the Mar. 17 edition of the Lempert Report, hosted by Phil Lempert. Also, what to expect for St. Patty's Day. 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.

Razorback Farms, Inc. Springdale, AR -based Razorback Farms Inc. has been supplying raw products and custom harvesting throughout the Midwest, South & East since 1966. Razorback Farms provides regular snap beans, European beans, wax beans, Italian beans; spinach & other cole crops; sweet corn on the cob & cut kernels from mobile-processing method. Off-season English Pea production; harvesting; preliminary cleaning/cooling, refrigerated transport. To learn more about this 50-year Food Institute member, please call: 479-756-6141. Interested in seeing your company featured here? Email us for more details.

About Us | Publications | Merger & Acquisition Search* | Report Article Search* | Ask an Expert

* Members only

International News

The disaster in Japan will likely disrupt the country's grain imports temporarily before a rebound, but it is too soon to forecast a timetable, according to Mosaic's CEO. The hardest-hit ports were smaller ports in northern Japan that do not receive large commodity imports, but warehouses in the region were damaged, reported Reuters. 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.

Washington News

U.S. baked goods and candy manufacturers are pressuring the government to increase imports of sugar from the current 1.1 million metric tons. The current quota was set on July 30, 2010, and since then USDA cut its domestic production forecast almost 3.5% while the price of U.S. raw sugar futures traded on the IntercontinentalExchange rose 8%. Domino Foods Inc., which claims it supplies more than one-third of the U.S. sugar market, raised its bulk price by four cents to $0.61/lb. last week, its second price increase this year, reported The Wall Street Journal. Full Story (WSJ Subscription Required)

Michigan Gov. Rick Snyder is looking at shifting the responsibility of inspecting dairies from the Michigan Department of Agriculture to state certified industry inspectors to save about $600,000 annually, reported MLive.com. Full Story (Free Registration Required)

Market News

U.S. beef exports for 2011 are forecast at 2.43 billion-lbs. and beef imports are forecast at 2.3 billion-lbs., making the U.S. a net exporter of beef again in 2011, and by a larger margin, noted ERS. Broiler meat production rose notably in January, but broiler hatchery numbers point to less growth in production in the coming months. Broiler production for 2011 is estimated to be higher than the previous year through the first half of the year. Livestock, Dairy, and Poultry Outlook Report

Florida blueberry volumes should be up this year and shippers expect strong demand to meet it. The Florida blueberry industry is expected to produce up to 18 million-lbs. this season, about three million more than in 2010, according to the president and CEO of SunnyRidge Farm Inc. The season is projected to start slightly earlier than normal due to excellent growing weather, reported The Packer Online. Full Story (Subscription Required)