Kellogg’s Rxbar brand unveils its new limited edition of pecan variant

USA – Kellogg, a multinational food manufacturing company, has announced that its Rxbar has unveiled its latest seasonal offering, a new limited-edition pecan variant. The Pecan Rxbar features ‘buttery’ pecans and a dash of cinnamon, as well as the brand’s signature base of egg whites, dates and a few other simple ingredients. According to Rxbar, the bars feature 12g of ‘high-quality’ protein and contain no added sugar. “This year’s new Pecan Rxbar is the perfect combination of real ingredients to give you that warm, delicious pecan pie flavour,” Jim Murray…

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Campbell Soup reports double digit growth in Q3 net to US$2.24bn

USA – Campbell Soup’s net sales during the third quarter of fiscal year 2020 increased by 15% to US$2.24 billion, from US$1.953 billion posted in a comparative period last year, as the company witnessed favourable growth in volume in both meals & beverages and snacks with the stay-at-home mandate. The company’s organic net sales, excluding the impact from the October 2019 divested European chips business, further increased by 17% – which food and beverage company said was a reflection of increased demand of its products. “In the quarter, we experienced…

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Profound nutritional understanding to propel the global fruit snacks market over US$9bn

WORLD – The global landscape of the food industry is rapidly transforming across all fronts and health foods are no longer a niche group – as they are starting to incorporate more mainstream food trends. While breakfast foods and energy drinks have gained precedence among the masses, fruit snacks are becoming popular and their consumption are expected to continue to grow at a steady clip. According to a recent report by Fact.MR, these conditions are expected to give the fruit snacks market a lucrative base for growth. Fact.MR projects that the…

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PepsiCo reports highest growth rate in four years, lifts revenue to US$67.16bn

USA – The New York headquartered food and beverage giant, PepsiCo reported another solid year after managing to grow its full year revenues by 3.87% to US$67.16 billion. PepsiCo further posted a 4.8% organic growth revenue during its financial year ending 28th December, 2019 – the company’s fastest growth rate since 2015. During the year, the company’s operating profit increased 1.8% to 10.291 billion, benefiting from growth from all markets expect from a decline in PepsiCo Beverages North America, Quaker Foods North America and APAC region. Operating profit in the…

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PepsiCo acquires majority stake in Ethiopian Crisps processing company Senselet

ETHIOPIA – PepsiCo, one of the world’s leading food and beverage companies has acquired majority stake in Senselet Food Processing Plc in Ethiopia from Veris Investments, a growing and influential investment company, who will maintain a minority interest in the company. Senselet is a Crisps processing company in Ethiopia, cementing its lead in the market with the SUN Chips brand available in the flavours Habesha Spice, Paprika and Natural and in various pack sizes. PepsiCo has joined Veris Investments to further grow the business and develop potato sourcing programmes in…

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Campbell sells Arnott’s and some international assets to KRR for US$2.2bn

AUSTRALIA – Campbell Soup Company has signed an agreement to sell its Australian snacks unit Arnott’s and some of its international operations to investment firm KKR for US$2.2 billion. Under the terms of the agreement, Campbell and KKR will enter into a long-term licensing arrangement for the exclusive rights to use certain Campbell brands. This will include Campbell’s, Swanson, V8, Prego,Chunky  and  Campbell’s  Real Stock, in Australia, New Zealand, Malaysia and other select markets in Asia, Europe, the Middle East and Africa. Combined with the previously disclosed sale of Kelsen Group…

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Chandaria Group invests in Kenya’s food startup Savannah Brands

KENYA – Chandaria Group’s investment arm, Chandaria Capital, has invested in Kenyan food and beverage start-up, Savannah brands, as the first investor in the company’s seed funding round. Chandaria Capital backing marks and important milestone in the Nairobi based food and beverage company, which launched its products in the Kenyan market last year. The seed funding will accelerate Savannah’s ambitions of aggressively taking on the African food and beverage market through the innovative launch of a variety of product ranges in the juice, cider and snack categories. Savannah, led by…

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Kellogg’s considers sale of cookies and fruit snack units to focus on core business

USA – The Kellogg Company has announced that it is looking to reorganize its business in North America and is considering sale of cookies and fruit snacks businesses to refocus and align to core parts of the company. The cookies business portfolio includes Keebler, Famous Amos, Mother’s and Murray brands while the fruit snacks category has Stretch Island brand in that portfolio. The company said it was consolidating U.S. Morning Foods, Snacks and Frozen Foods business units into a single, categories-focused organization. Sales team from these categories will also be combined…

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Cadbury Nigeria returns to profit with 10.6% rise in revenue

NIGERIA – Cadbury Nigeria, a snack and confectionery arm of Mondelez International has ended the nine months to September 30 with a profit of US$474,100.80 from a loss of US$176,409.60 it reported last year in the comparable period. According to Business Day Online, revenue for the period increased 10.6% to US$74.3 million, an increase from US$67.1 million posted in the corresponding period of 2017. Despite adopting some cost saving strategies to reduce sales and distribution expenses, cost of sales went up to US$59.6 million attributed to rising cost of doing…

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PepsiCo India launches new Kurkure snack variants to tap local market

ASIA – PepsiCo India’s salty snacks division has launched new variants of Twistkeen under its popular brand Kurkure to build its presence in the local space, an ET Retail report notes. Developed in line with tastes and flavours similar to popular regional snacks such as Bikaneri bhujia, Andhra’s murukku and Shahi flavoured namkeens, Twistkeen is a baked namkeen which comes in three flavours. The range creates a new category in the baked savoury snacks segment in the finger-food format, imbibing local ingredients and traditional flavours. Alongside the launch, the beverage…

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