Boston Beer to launch cannabis beverages in Canada as AB InBev and Constellation Brands feud in US courts

US – Boston Beer is doubling down on its strategy to expand into the highly lucrative cannabis market with the planned launch of a nonalcoholic cannabis-infused beverages in Canada.  Bost Beer’s subsidiary BBCCC Inc. is partnering with Ontario-based manufacturer Peak Processing Solutions and grower Entourage Health to debut the nonalcoholic dink.  According to a statement from Boston Beer, production of the beverage containing cannabis biomass from Entourage Health will start in the fourth quarter.   Under the terms of the five-year agreement, Entourage will be the exclusive distributor of the beverages in Canada.  Boston Beer’s…

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Lactalis sells leading US feta cheese brand Athenos to Emmi Roth

USA – Lactalis Group, the world’s largest dairy company, is selling its US feta cheese manufacturer Athenos to Emmi Roth USA, a business unit of the Emmi Roth Group.  Athenos has an extensive presence in the US retail and foodservice sectors and generated approximately US$90 million in sales in 2020.  Lactalis Group acquired the Athenos business as well as several other cheese brands this past September from the Kraft Heinz Co. in a US$3.2 billion transaction.   Antitrust regulators in the United States raised concerns about some aspects of the…

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Mondelēz debuts US$2.4B Green Bond Offering as Kraft Heinz pays SEC US$62m for accounting irregularities

USA – American multinational snack and food company Mondelēz International, Inc., has debuted the group’s first green bond, whose proceeds will be used to support the company’s key sustainability initiatives.   According to Mondelēz, the €2.0 billion (US$2.4 billion) bond will be the largest ever green bond in the Packaged Foods and Consumer Goods Industry.   The green bond issued by Mondelez International Holdings Netherlands B.V., a wholly-owned subsidiary of Mondelēz International, Inc., consists of €650m of 0.250% notes due September 2029, €650m of 0.625% notes due September 2032, and €700m of…

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Ferrero promotes Todd Siwak to president and chief business officer of North American business

USA — Italian confectionery company Ferrero Group, has promoted chief executive officer of Ferrara Candy Co. Todd Siwak to president and chief business officer of Ferrero North America.   Siwak is succeeding Paul Chibe, who had been in the position since 2015, and is now taking on a new international assignment from this month within Ferrero Group as Global President, Sugar Confectionery and Gums.  In his new role, Mr. Siwak will be responsible for driving the strategic objective of expanding Ferrero business in the US, Canada, and the Caribbean.  This includes growing…

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