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PepsiCo Inc. entered into an agreement to acquire SodaStream International Ltd. for $3.2 billion. The acquisition is expected to position SodaStream for further expansion and innovation. Full Story
Tyson Foods Inc. agreed to acquire the Keystone Foods business from Brazil-based Marfrig Global Foods for about $2.2 billion. The acquisition includes six U.S. processing plants and an innovation center in Alabama, Georgia, Kentucky, North Carolina, Pennsylvania and Wisconsin, as well as eight plants and three innovation centers in China, South Korea, Malaysia, Thailand and Australia. Full Story
Meanwhile, the sale of Keystone Foods concludes a major strategic change for Marfrig Global Foods, which will focus exclusively on beef, according to its CFO. Keystone's beef patty plant in Ohio, which is not included in the deal, will be added to the portfolio of National Beef Packing Co. LLC, reported Reuters. Full Story
Campbell Soup reportedly hired Goldman Sachs to look at the possibility of selling some of its businesses to help pay down debt, according to people familiar with the matter. The company is said to be considering the sale of Australian cookie brand Arnotts Biscuits and its fresh food unit, which includes Bolthouse Farms, reported CNBC. Full Story
Main Street Capital Holdings acquired W&W Dairy from the company's founding partners. W&W is a private label producer of queso fresco, cotija and other varieties within the Hispanic cheese market. Through the acquisition, W&W could double its current output of 100,000-lbs. of cheese per week. Main Street aims to grow W&W by strengthening its partnerships with customers and developing new products and packaging options, reported Pittsburgh Business Times. Full Story (Subscription Required)
Sales of organic chicken via chain stores are likely to grow at a CAGR of 14.7% through 2028, with sales expected to exceed $7.5 billion by the end of the forecast period, according to Fact.MR. Market growth is likely to be driven by increasing demand for organic food products as opposed to traditional products. Sales of organic chicken are expected to remain concentrated in Europe, closely followed by emerging economies of Asia Pacific, excluding Japan. Full Story
Parmalat Canada will update its plants with new machinery and production methods as a means of expanding its presence in the milk category. The company has more than a dozen new milk products in the pipeline, including different milk flavors and micro-filtered and lactose-free milk. Parmalat plans to introduce micro-filtered milk to the western Canadian market and a new plastic bottle design for its Lactania PurFiltre brand, which together will allow for longer shelf life and wider distribution, reported The Globe and Mail. Full Storyread more
The Food Institute and asset solutions partner Harry Davis & Company are teaming up to deliver a free webinar on June 19 entitled “Understanding Your Assets: Expert Strategies for Food & Beverage Processors.” They will explore what value food manufacturers may be leaving on the facility floor, the basics of asset management, the various scenarios for valuing your assets, and a suite of strategies to maximize your assets’ value.
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