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September 30, 2011Industry News
Coca-Cola reached a deal with Five Guys Burgers and Fries to install Freestyle fountain machines in all company-owned locations. Five Guys has been testing Freestyle machines in the Atlanta market since 2010 and expanded testing in multiple markets in 2011, reported The Atlanta Journal-Constitution. Full Story (Free Registration Required) Gabelli Funds, LLC reported a 9.96% stake worth $18.35 million in 203-unit Ingles Markets Inc., according to an SEC filing. It also runs 70 neighborhood shopping centers, of which 58 contain an Ingles supermarket. SEC Filing Latest sales & earnings for food related companies (Updated Daily - FI Membership Required)
Food Institute NewsPurchase Today! The
Food Institute's Demographics of Consumer Food Spending, 2011 Edition
examines consumer spending patterns on food, based on the Bureau
of Labor Statistics' 2009 Consumer Expenditures survey (the latest
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* Members only International NewsIncreased chocolate consumption in Asia is reshaping the cocoa industry. Until recently, suppliers had so much extra cocoa powder it was sometimes burned in boilers as a fuel. But over the last two years, powder prices more than doubled, and grinders can barely keep up. Global chocolate sales rose 2% to $83.2 billion in 2010, according to Mintel. This was helped by growth in places such as China, where sales rose 21% to $976 million, and Indonesia, where sales climbed 26% to $888 million, reported Reuters. Full Story
Health News
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 NewsFriendly's may reportedly file for bankruptcy as early as next week and try to sell itself at auction. The company is in talks with Wells Fargo & Co to take a $70 million loan to continue operating during the process, and under the bankruptcy Friendly's would roll some of its existing debt into a new loan from Wells Fargo that would include $25 million in new funds, reported Reuters. Full Story Papa John's franchisee PJCOMN Acquisition Corp. filed for Chapter 11 bankruptcy protection in Baltimore. The company operates 72 restaurants in Colorado and Minnesota, reported Denver Business Journal. Full Story (Free Registration Required)
Market NewsHass avocado volume in the U.S. from all sources totaled a record 1.28 billion lbs. in 2010. But due to light crops, the first three quarters of 2011 saw the first significant decline in volume in over a decade coupled with record-high prices. The new-crop harvest is now underway in Mexico and Chile, both of which have larger crops for 2011-12, reported The Produce News. Full Story |
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FI's Mission: The Food Institute strives to be the best "single source" for current, timely and relevant information about the food industry from "farm to fork." The association serves as a trusted source of information, providing balanced coverage of the issues. It delivers information through multiple media so that industry professionals worldwide can tap in when and how they choose. For more information, visit, http://www.foodinstitute.com. |
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