Finances & Deals
Sargento Acquires Dip and Spread Maker La Terra Fina, Entering the Deli Aisle for the First Time
Sargento Foods will acquire La Terra Fina, known for its premium dips, spreads, and quiches. The deal is expected to close in September, with the amount undisclosed. Through this acquisition, Sargento enters the deli aisle for the first time and strengthens its "real food" positioning to address consumer demand for snackification and high-protein, minimally processed foods.
"Beans Are Elegant Too": How Jelly Belly Positions Itself as a Premium Candy
Jelly Belly's owner Ferrara is repositioning the brand as a premium candy by launching curated collections and optimizing packaging and advertising campaigns to attract consumers to purchase in more occasions beyond Easter. Early data shows a significant increase in brand loyalty.
Brown-Forman Rejects Sazerac Acquisition Offer, Calling It Not Actionable
Brown-Forman rejected Sazerac's acquisition offer on Sunday, calling it not actionable. The offer was considered 'unsolicited,' following reports that the company had declined an initial $15 billion offer in May. Negotiations between Brown-Forman and Pernod Ricard have also ended. Controlling shareholder Wolf Pen Branch stated that the offer does not align with its vision for the company.
Nestlé sells half of its water business for $3.4 billion, forming joint venture Peranel
Nestlé announced the sale of half of its water business to Platinum Equity for $3.4 billion, forming joint venture Peranel. Peranel will encompass more than 30 brands including S.Pellegrino, Perrier, and Essentia, with headquarters in Paris, and the transaction is expected to be completed in the first half of 2027. This move is the latest step by Nestlé CEO Philipp Navratil to streamline its portfolio.
McCormick Announces Operating Structure and London Secondary Listing Plan Following Unilever Merger
McCormick announced on Thursday that, upon completion of the merger with Unilever's food business, it will reorganize into four commercial divisions, revealed its executive team composition, and plans a secondary listing in London.
IFF sells natural ingredients business, transaction amount undisclosed
International Flavors & Fragrances (IFF) has reached an agreement to sell its functional ingredients and natural color business portfolio to nutrition company SuanNutra, with the transaction amount undisclosed and expected to close by year-end. The business generated approximately $170 million in revenue last year, encompassing plant extracts, vitamins and minerals, food enhancement assets, and natural colors and antioxidants. This marks IFF's second major ingredients divestiture deal within about two months.
Germany's Intersnack Group to acquire US snack maker Utz Brands for $2.9 billion
Germany's salty snack manufacturer Intersnack Group announced the acquisition of US snack maker Utz Brands at an enterprise value of approximately $2.9 billion, at $14.25 per share in cash. Upon completion of the transaction, Utz will become a private company, with Intersnack and the founding Rice and Lissette families each holding a 50% stake. The transaction is expected to close in the fourth quarter, and former CEO Dylan Lissette will serve as Executive Chairman.
Kraft Heinz and Disney Reach Long-Term Strategic Marketing Partnership
Kraft Heinz and The Walt Disney Company announced a long-term strategic partnership on Tuesday, spanning foodservice, media, and events. The collaboration will integrate marketing campaigns, digital content, and brand opportunities across Disney's North American parks, resorts, cruises, film, and streaming platforms. Initial activations include new Heinz condiment stations in parks, a 'Heinz Flavor Ferry' experience at D23 fan events, and a 360-degree integrated marketing campaign titled 'Together at Last.'
Nostalgic Candy Empire: How Spangler Builds a Sweet Moat with a Century-Old Brand
Spangler Candy Company, owner of century-old brands such as Sweethearts and Dum Dums, achieves steady growth in the chocolate-dominated candy market through nostalgia strategies and precise acquisitions, with annual sales increasing by 3% to 5%.
ADM partners with Every to scale up egg white protein production through precision fermentation
ADM announced a partnership with Every to begin commercial production of Every's animal-free egg white protein OvoPro at its facility in Clinton, Iowa. The product is produced through precision fermentation and offers functionalities such as binding, gelling, foaming, and whipping, with a Protein Digestibility-Corrected Amino Acid Score (PDCAAS) of 1.0. This initiative aims to provide innovative options for food companies, alleviating egg price volatility and supply pressure caused by avian influenza.