Industry News

Chobani controls about 20% of the $6.5 billion U.S. yogurt market less than six years after launch. It is the best-selling yogurt brand in the U.S. and sold more than $1 billion worth of Greek-style yogurt last year. The company operates the two biggest yogurt plants in the world and churns through 6 million-lbs. of milk a day. The company bought a factory in Australia in 2011 and now occupies the No. 3 spot in the market. It also plans to expand dramatically in the UK this year, reported Financial Times. Full Story

Meanwhile, New York State surpassed California in 2012 as the top producer of yogurt in the U.S., according to New York's governor. New York State yogurt processors produced 692 million-lbs. of yogurt in 2012 compared to 587 million-lbs. of yogurt in California. By comparison, in 2011, California produced 627 million-lbs. of yogurt, compared to 554 million-lbs. in New York State. Full Story

WhiteWave Foods will invest $69.8 million to expand its operation in Mount Crawford, VA. The plant currently manufactures Silk, Horizon Organic, International Delight and Land O' Lakes products, reported Augusta Free Press. Full Story

Nelson Peltz's Trian Fund Management amassed large stakes in both PepsiCo and Mondelez International totaling a combined $2.7 billion. Trian stated it began building stakes in both companies in late 2012, buying about $270 million worth of stock in PepsiCo and a $500 million stake in Mondelez, but in the last several months that stake increased to about $1.4 billion in Pepsi and $1.3 billion in Mondelez. Analysts speculate Mr. Peltz's interest in the two companies stems from trying to effect a merger between Pepsi and Mondelez, or a spin off of the Frito-Lay division and merger with Mondelez, reported CNBC.com. Full Story

National Frozen Foods (NFF) was purchased from Endeavor Capital. Involved in the purchase is J.R. Simplot, according to the CEO and president of NFF. Terms of the deal were not disclosed, reported Albany Democrat-Herald. 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.

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

Food Institute News

New buzzwords synonymous with frozen foods include INNOVATION - VALUE - CONVENIENCE - VARIETY. An on-demand webinar from the Food Institute's library, Frozen Foods Heat Up Your Business. addresses each of these variables and offers suggestions on driving the market and unique ways to identify growth strategies. Find out about the newest trending flavors, ingredients and benefits. Packed full of knowledge, this webinar is sure to make you understand the REAL wants and needs of the Frozen Food shopper. Click here to learn more.

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

* Members only

International News

Lunar Capital Management acquired a majority interest in Guizhou Yonghong Food, a snack food company. Lunar Capital's operations will also take over the management of the company and work with the co-founders of Yonghong, who retain a substantial minority stake, reported China Daily. Full Story

Health News

Certain types of food poisoning are increasing in rate, indicating stricter regulation of meat, produce and processed food is needed, according to the Centers for Disease Control and Prevention (CDC), reported NBCNews. The report found incidences of laboratory-confirmed Listeria, Salmonella, Shiga toxin-producing Escherichia coli (STEC) O157, and Yersinia infection did not change significantly in 2012 compared with 2006 through 2008. However, comparison with the first three years of FoodNet surveillance (1996 through 1998) shows the overall incidence of infection with six key foodborne pathogens (Campylobacter, Listeria, Salmonella, STEC O157, Vibrio, and Yersinia) was 22% lower in 2012. Full Story, CDC Report

Health research over the years has found good things in a cup of coffee, most recently in Greek-style coffee. The coffee consumption of elderly people on the Greek island of Ikaria was linked to a reduction in one risk factor for heart disease according to a study in the Vascular Medicine journal, reported BBC News. Full Story

Washington News

A bill that would phase out the 4% Alabama state sales tax on food was approved April 18 by the Senate Finance and Taxation Education Committee. The bill, by Sen. Gerald Dial, (R-Lineville), would replace the lost sales tax revenue by increasing the state sales tax on non-food items to 5%. The changes would come incrementally, with 1 percentage point dropping off the food tax each year for four years, while the tax on nonfood items would increase by one-quarter percentage point each year for four years, reported AL.com. Full Story

Market News

Corn commodity markets are looking at a more bearish outlook for 2013, according to the vice-president of operations for AGrowStar. While corn acreage remained the same in most states, the amount of corn harvested increased and growers could be looking at a much smaller return, reported Southeast Farm Press. Full Story