Industry News

General Mills signed definitive agreements with PAI partners and Sodiaal to acquire a 51% controlling interest in Yoplait S.A.S. and a 50% interest in a related entity that holds the worldwide Yoplait brands for approximately $1.15 billion. Sodiaal will hold the remaining ownership stakes in both entities. General Mills and Yoplait agreed that the parties will formally withdraw from current arbitration pertaining to the U.S. Yoplait license upon closing of the transaction, and General Mills will continue to market Yoplait yogurt in the U.S. under the license agreement. Full Story

Corporate Accountability International plans to ask McDonald's Corp. to retire the Ronald McDonald mascot at the company's annual meeting on May 19. The group alleges that the mascot encourages kids to eat unhealthy food, contributing to a rise in childhood obesity and related diseases such as diabetes. Corporate Accountability International also took out full-page ads, signed by more than 550 health groups and professionals, in the May 18 editions of about a half-dozen newspapers to call for the character's removal, reported The Associated Press. Full Story

View Today! The May 18 edition of New Products Hits and Misses with Phil Lempert evaluates: Athenos Greek Strained Yogurt Nonfat Blueberry Flavor, Barney Butter Almond Butter 90 Calorie Snack Pack, Prometheus Springs Citrus Cayenne Capsicum Spiced Elixir, California Olive Ranch Miller's Blend Extra Virgin Oil and NatureCrops Quinoa and Strawberry Bar. Click here to view.

Fresh & Easy Neighborhood Market is expanding its range of gluten-free products. Some notable additions include a range of Schar products, including multigrain bread, and Bob's Red Mill Whole Grain Rolled Oats and Enjoy Life Cinnamon Crunch Granola. Full Story

About 30 Walgreens stores in the Bay Area are rolling out stock meats, wraps, soups and other on-the-go meal options, along with fresh fruits and vegetables, salads and sandwiches, reported The San Francisco Chronicle. Full Story (Free Registration Required)

Quiznos is offering a punch card for eight sandwiches or salads, worth about $50, for half price on Groupon May 18. The deal, which will be offered to Groupon's 38 million e-mail subscribers, is reportedly the largest deal in the site's history. The offer includes more than 2,100 Quiznos locations nationwide, reported St. Louis Business Journal. Full Story (Free Registration Required)

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

Food Institute News

Begins One Week from Today! The Food Institute and Olsson Frank Weeda Terman Bode Matz PC will offer a year-long webinar series on FDA implementation of the new Food Safety Modernization Act (FSMA). Twelve one-hour webinars will be offered throughout the course of the next year. Each webinar will offer attendees a broad overview of step-by-step FDA implementation of the Food Safety Modernization Act and how all of the pieces will fit together. Webinar attendees will also be provided with useful tools, including a calendar detailing all relevant statuatory and regulatory deadlines. All sessions will be recorded in the event that you miss a presentation, or want to revisit it at a later date. The webinar series begins Wednesday, May 25. To learn more and sign up, click here.

Dr. Schär USA, Inc. Dr. Schär is the leading gluten-free manufacturer in Europe known for quality, safety, innovation and education. With 30 years of gluten-free expertise, it is our mission to improve the lives of those with celiac disease and related intolerances. We offer a comprehensive line of great tasting, nutritionally balanced products including breads, rolls, pasta, cookies, crackers and frozen foods. All our 100% GMO and preservative-free foods are produced in dedicated gluten-free facilities. To learn more about this Food Institute member, for store locations and recipes, please visit: www.schar.com. 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

Parmalat rejected a takeover offer worth €3.4 billion from Lactalis. Parmalat's board "unanimously decided ... that the offer did not fully reflect" the value of the company, reported AFP. Full Story, Full Release

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 is reportedly in talks to buy Marata, a Brazilian producer of coffee and beverages, according to Valor Economico, which also reported that Sara Lee was open to a possible merger. Sara Lee controls 22% of Brazil's retail coffee market, reported Reuters. Full Story

Health News

Men who drink at least six or more cups of coffee a day may be cutting their risk for advanced prostate cancer by 60%, according to a study published in Journal of the National Cancer Institute, reported HealthDay. Full Story

Washington News

A North Carolina state House committee recommended legislation that would lead to rules for school vending machines, snack bars and some student fundraisers. The bill tells the state Board of Education to adopt statewide nutritional rules that limit the calories, fat, sugar, and sodium content of the soft drinks and snacks sold on school campuses. The rules are scheduled to take effect in the fall of 2012 if the legislation passes the General Assembly and is signed into law, reported News & Observer. Full Story

Market News

Hog prices increased sharply since 2009 and are expected to achieve a record high in 2011. Hog prices are expected to increase more than 15% this year compared with 2010, after having increased almost 34% in 2010. Meanwhile, the decline in feeder cattle prices contributed to the recent declines in fed cattle prices. Fed cattle prices declined sharply during late April and early May. U.S. beef exports for 2011 are forecast at 2.48 billion-lbs., 8% growth above 2010, noted ERS. U.S. broiler meat production is expected to total 38.1 billion-lbs. in 2012, up 2% from 2011, with the expansion concentrated mostly in the second half of the year. Full Story