Drifter Brewing raises funding to drive expansion into US, Europe and Asia

SOUTH AFRICA - Drifter Brewing Company, one of SA’s upcoming brewers has raised almost quarter a million US dollars (R3million) in funding to explore beer markets outside its home continent that is US, Europe and Asia. Business Day reported that the company’s plans to expand its reach outside Cape Town where it is based and…

Walmart’s expands online same-day grocery into more US households

INDIA - Walmart is expanding its same-day online grocery delivery service to more than 40 percent of U.S. households, or 100 metro areas, by year-end as it tries to keep pace with online leader Amazon.com The service is currently available in six markets. Tom Ward, vice president of Walmart's digital operations, says the retail giant is powering the expansion…

Consumers take to consuming more natural fat, butter makers hit jackpot

WORLD - Consumers aren’t just eating more butter, they are willing to pay more for it, a boon that’s giving outsize gains to makers of premium brands. Global retail butter sales will expand 2.9 percent to $19.4 billion in 2018, outpacing the 1.9 percent growth in sales volumes, according to Euromonitor International. The trend is fanning…

Bakkavor begins construction of new bakery in Charlotte, North Carolina

US - Global food manufacturing firm Bakkavor has begun construction on a new bakery facility in Charlotte, North Carolina. According to a press release by commercial and industrial builders AM King, which provided site selection, process engineering, construction services, and worked on other aspects of the project. The 80,000-sq-ft facility will include 42,000 sq ft…

Tyson Foods makes investment in Chicago-based food startup Tovala

US - Tyson Foods, Inc., through its corporate venture subsidiary Tyson Ventures, has completed an investment in Tovala, a Chicago-based food startup that makes smart countertop steam ovens with fresh ready-to-cook meals. The terms of the investment are not being disclosed. Tyson Ventures joins a strong group of investors including Origin Ventures, the Pritzker Group,…

Tyson Foods delivers record quarter results with 11% total company sales growth

US - Tyson Foods, Inc., one of the world’s largest food companies and a recognized leader in protein with leading brands, has reported its record quarter results with 11% total company sales growth. The Adjusted operating income and adjusted net income per share attributable to Tyson, or Adjusted EPS, are non-GAAP financial measures and are…

Kraft Heinz reports fourth quarter and full year 2017 results, with 0.3% net sales increase

US - The Kraft Heinz Company has reported fourth quarter and full year 2017 financial results, citing Q4 net sales increase of 0.3% and 0.6% decrease in its organic net sales. The company also recorded a Q4 net income attributable to common shareholders increasing to US$8.0 billion, while Adjusted EBITDA increased 3.2% on a constant…

TreeHouse Foods announces plans to close facility in Visalia, California

US - TreeHouse Foods, Inc., a manufacturer of packaged foods and beverages, has announced the intention to close its facility in Visalia, California by the end of the first quarter of 2019. The plant, which primarily produces pretzels and cereal snack mixes for the Baked Goods segment, will have its pretzel facility moved to other…

TreeHouse Foods reports fourth quarter 2017 results; with GAAP loss of US$5.40

US – TreeHouse Foods, a manufacturer of packaged foods and beverages, has reported its fourth quarter 2017 results, with a GAAP loss per fully diluted share of US$5.40, compared to GAAP loss of US$4.96 in 2016. According to the company, it reported adjusted earnings per fully diluted share for the fourth quarter of US$1.02 compared…