Finances & Deals
Campbell’s slashes 13% of salaried workforce as part of $500M cost-cutting plan
Campbell Soup Company announced a 13% workforce reduction and the closure of two snack factories as part of a $500 million cost-cutting plan, while also reducing its quarterly dividend by 36%. The company posted a loss in the fourth quarter, with sales declining 8%.
Food Dive Trendline on Mergers and acquisitions
Food and beverage giants are not expected to pursue transformative multi-billion-dollar M&A this year, instead focusing on small acquisitions to control financial risk while positioning in growth categories such as healthy snacks and functional beverages. Executives from companies like Molson Coors, Kraft Heinz, and Hershey outlined their M&A strategies at the annual CAGNY conference.
Nestlé reaches $1B deal to sell 7 vitamin, mineral and supplement brands
Nestlé has reached an agreement to sell its mainstream vitamin, mineral and supplement business to Yellow Wood Partners for $1 billion. The transaction covers 7 brands and the U.S. private-label supplement business, and is expected to be completed in the first half of 2027. This move is part of Nestlé's strategy to focus on high-growth businesses.
Keurig Dr Pepper sells equity stake back to Chobani for $800M
Keurig Dr Pepper will sell its minority stake in Chobani for $800 million and a manufacturing plant for $125 million, totaling $925 million. The company plans to use the proceeds to reduce debt, supporting a business split early next year. The two parties will expand their distribution partnership, with the transaction expected to close in the third quarter.
B&G Foods’ Green Giant sale runs into antitrust concerns in Canada
加拿大竞争局已向竞争法庭提出申请，要求阻止B&G Foods将其在加拿大的Green Giant和Le Sueur业务出售给Nortera Foods，理由是交易可能损害竞争。B&G Foods表示正在评估包括法律和监管在内的多种选项。
Sazerac buys UK-based canned cocktail brand Au Vodka
Sazerac, the owner of Buffalo Trace, has agreed to acquire Au Vodka, a UK-based canned vodka cocktail brand, for an undisclosed sum. The deal, expected to close in the coming weeks, strengthens Sazerac's ready-to-drink portfolio and its foothold in the UK market. Au Vodka, founded in 2015, has gained attention for its gold packaging and celebrity endorsements.
Ardagh considers sale of metal beverage can business
Ardagh Holdings disclosed in regulatory filings that its board has authorized advisers to prepare for a potential sale of Ardagh Metal Packaging (AMP), which operates in the beverage can sector. The process may involve selling some or all of AMP's equity to a third party, or acquiring outside stakes to facilitate a full divestiture. Analysts suggest the move is driven by leverage reduction rather than performance concerns, noting AMP's recent quarterly results and positive long-term outlook for beverage cans. The company, which marked its 10th anniversary, has seen leadership changes and a recapitalization in recent months. Metal packaging represents over half of Ardagh Group's business, with AMP operating 23 facilities across nine countries and generating $5.5 billion in 2025 sales.
Ferrero to buy better-for-you breakfast brand Purely Elizabeth
Ferrero Group announced Friday its acquisition of Purely Elizabeth, a better-for-you oatmeal and granola brand, for an undisclosed sum. The move follows Ferrero's $3.1 billion purchase of WK Kellogg and aligns with its strategy to invest in high-growth categories. Founder Elizabeth Stein will remain CEO, and the brand will operate independently within Ferrero's portfolio.
B&G Foods replaces CEO after 5 years
B&G Foods announced the appointment of Robert Mills as its new President and CEO, succeeding Casey Keller, who has served since June 2021. Keller will continue to assist in the transition as an advisor. Mills previously served as Chief Technology Officer for Digital and Pet Services at Tractor Supply Company, and his appointment comes at a challenging time for the company amid weak consumer spending and inflationary pressures.
The Largest Food M&A Deals So Far in 2026
So far in 2026, M&A activity in the food industry has been robust, but mega-deals have been scarce. Companies are focusing on clean labels, high protein, functional ingredients, and snacks. Among them, McCormick's $44.8 billion merger with Unilever's food business, IFF's $4.3 billion sale of its food ingredients division, Ingredion's $3.6 billion acquisition of Tate & Lyle, and Utz's $2.9 billion privatization by a German snack company stand out as landmark deals of the year.