Post Holdings, Tyson Foods post strong Q3 results buoyed by elevated demand in the food service channel

US – American consumer packaged goods demand Post Holdings and Arkansas-based multinational meat processing company Tyson Foods have reported double digit growth in net sales for quarter three buoyed by elevated demand in the food service channel.  Q3 net sales for Post Holdings were US$1.6bn, an increase of 19% (or US$253.4 million including US$78.5m in net sales from acquisitions made in the past two years) compared to US$1.3bn in the prior-year period.  During the quarter, Post saw its foodservice business rebound, growing by 80% year on year, primarily driven by out-of-home demand for its…

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Mountain Dew to enter alcoholic beverage category as Danone sets “plant-based 2.0” strategy in motion

US – Mountain Dew, a beverage brand owned by American beverage and snack giant PepsiCo, is set to enter the alcoholic beverage category with the launch of a new flavored malt beverage with alcohol by volume of 5%.  The new beverage produced in collaboration with Boston Beer Co. will be marketed to adults of legal age and merchandised consistently with other alcoholic beverages, the companies said.  “For 80 years Mtn Dew has challenged the status quo, bringing bold flavors and unmatched beverage innovation to millions of fans,” said Kirk Tanner, chief executive…

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European soft drinks industry commits to reduce sugar content in beverages by 10% before end of 2025

EUROPE – Soft drink beverages are a favorite for many. Their sweet taste is irresistible, making many consumers to crave for more once their first bottle is complete.  These sweet beverages however come with the added risk of exposing consumers to lifestyle diseases such as obesity and diabetes.   Numerous studies have shown that regular consumption of soft drinks is associated with type 2 diabetes in both adults and children.   In the UK where per capita consumption of soft drink beverages is estimated to be 107 liters, a majority of adults and a significant…

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V2 food raises US$53m to fuel expansion into Europe as Freshly launches first line of plant-based meals

AUSTRALIA – V2 food, a leading Australian meat alternative company, has secured €45 million (US$53million) in a Series B extension round to fund its ambitious expansion plans into Europe and China.  Based in Sydney, V2food produces a range of alternative protein products that mimic the taste and high protein, iron, and vitamin B content of meat.  The company’s offerings which include plant-based burgers and sausages made from legumes are said to be free from GMOs, as well as artificial colors and flavorings.  The company has also developed a production process that allows its products to…

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