Mondelēz International announces agreement to acquire Tate’s Bake Shop

USA - Mondelēz International has announced an agreement with The Riverside Company, a global private equity firm, and other shareholders, including Founder Kathleen King, to acquire Tate’s Bake Shop for approximately US$500 million. Founded in 2000 on Long Island, N.Y., Tate’s has cultivated a devoted consumer following across the country. According to the company, Tate’s…

Tyson Foods develops ‘bill of rights’ for its poultry farmers

USA - Tyson Foods has developed a contract for poultry farmers’ ‘bill of rights’, launching several new initiatives aimed at enhancing communications and transparency with the thousands of independent farmers who farm the company’s chickens. The company also formed an advisory council made up of poultry farmers, investing in technology for additional communications. The company…

Anheuser-Busch fuels green goals with new hydrogen trucks

USA - Anheuser-Busch, a US-based brewing company, has taken a step towards achieving its 2025 sustainability targets by ordering 800 hydrogen-powered semi-trucks from Nikola Motor Company, which will drastically reduce emissions produced by its dedicated distribution fleet. The company said the trucks will be integrated into its distribution fleet from 2020, and will reduce the emissions…

Coca-Cola records US$7.6bn in revenue while sales beat estimates on healthy portfolio

USA - Coca-Cola’s revenue was US$7.6 billion while sales were higher beating analysts’ estimates as the company focused their operations on ‘healthy’ products such as Coca-Cola Zero Sugar brand that saw double-digit growth in the first quarter. Bloomberg reports results were boosted by expansion of its sparkling water line-up, numerous launches of refreshed versions of…

Kellogg’s to invest US$420m for a stake in the Nigerian Tolaram Africa Foods

NIGERIA - Kellogg’s announced it was investing US$420 million for an unknown stake in the Tolaram Africa Foods (TAF), a packaged foods manufacturer for the Nigerian and Ghana market as the US food and cereals company seeks to strengthen itself in the continent. The acquisition, announced in its first-quarter financial report will strengthen its position…

McDonald records 5% revenue increase from higher global sales

USA - McDonald’s Corp has posted a 5% increase in revenue and high profits, surpassing estimates by analysts attributed to higher sales in the overseas markets plus an average consumer spending in the US restaurants. According to a report by Reuters, its shares by revenue rose by almost 5% helped by higher global same-restaurant sales…

Kroger completes sale of convenience store unit to EG Group for US$2.15bn

USA - Kroger, the American retailing company has announced that it has completed the sale of its convenience store unit to the UK based fuel stop and convenience store retailer, EG Group. The transaction includes 762 convenience stores operating under the Turkey Hill, Loaf ‘N Jug, KwikShop, Tom Thumb and QuikStop brands, including 66 franchise…

Dr. Oetker plans to invest up to US$7m in London doubling production

LONDON – Dr. Oetker, a German company that produces baking powder, cake mixes and various other products will be investing up to US$7 million in London’s plant, allowing for the workforce to increase to 300 from roughly 200, and nearly doubling production. According to an announcement, this will result in a new production line that…

Nestlé inaugurates Chile state-of-the-art pet food factory to expand market

USA - Nestlé has inaugurated a state-of-the-art pet food factory in Teno, Chile to produce high-quality pet food for dogs and cats, meeting growing demand from pet owners in Chile. With an investment of US$120 million, the factory is amongst the most modern in the world, ensuring the highest standards of quality and food safety.…

US farm recalls 207 million eggs in the US amidst Salmonella scare

USA - A US farm, Rose Acre Farms has recalled 207 million eggs supplied in the US after it was reported that more than 20 consumers became ill from suspected salmonella poisoning, reports Fin24. According to the US Food and Drug Administration, the eggs from the facility in North Carolina could have been contaminated with…