The food industry landscape is changing faster than ever, and we at the Food Institute know how important, but difficult, it can be to stay on top of the most recent industry news. If you didn't have a chance to catch the biggest developments from the past week, here are the most viewed stories featured in our Today in Food daily newsletter:
Dole Food Co. is reportedly exploring a sale, with private equity firms among the potentially interested parties. Dole is reportedly $1.3 billion in debt and operates with low margins and decreasing revenue. The company is expected to garner a valuation in the $2 billion range, reported Fortune. Full Story
Walmart is restructuring its U.S. operations and will consolidate its business divisions to four from six. The change is expected to improve communication, streamline decision-making and accelerate the company's ability to change, reported Reuters. Full Story
Oregon Potato Co. will acquire Inventure Foods' frozen business for $50 million. The deal includes the Rader Farms and Willamette Valley Fruit Co. brands, and the divestiture will help Inventure focus on its snacks business. Full Story
Nearly half of all shopping trips include the purchase of a clean label product, according to Nielsen. Ninety-three percent of U.S. households have purchased a clean label product at a grocery store, while 70% have done so at a supercenter and 31% at a club store. Clean label products accounted for 33% of the sales in the food and beverages category for the 52 weeks ending July 8. Full Story
Plant-based food sales grew 8.1% since 2016, according to the Plant Based Foods Association. Plant-based dairy alternatives are a fast-growing category, with 20% growth, while plant-based meats grew 6% compared to a year ago. Full Story
Whole Foods Market's customer traffic increased 25% since its merger with Amazon, according to Foursquare Labs. At Whole Foods locations in Chicago, IL, traffic was up 35%. E-commerce sales of Whole Foods branded items through Amazon totaled $500,000 in the first week, according to data from One Click Retail, reported Bloomberg. Full Story
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In The Food Institute's recent webinar "Achieving a self-sustaining business model: Top 3 trends companies need to think about post-COVID-19," Greg Wank, CPA, CGMA, partner and leader of Anchin's food and beverage group, as well as David Eben founder and CEO of Carrington Farms, discussed how to have a more successful business while burning less capital and attaining self-sustainability. The following summarizes the salient points highlighted during the webinar.read more
Jennette has been with The Food Institute since 2013. As Marketing Director, she is responsible for promoting all Food Institute books, seminars and webinars, as well as writing and editing the Food Institute’s annual publications. Additionally, she writes for and edits the daily news update, Today in Food, and contributes to the biweekly Food Institute Report. She has a background in non-profit and environmental marketing, programming and writing, and graduated from Rowan University in 2012 with a degree in Communication Studies.
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