New York | Reuters –– Nestle said Tuesday it will stop using eggs laid by caged hens in its U.S. products by 2020, making it the largest packaged food company to go cage-free amid pressure from consumers and animal-rights groups. The world’s largest food maker said it uses about 20 million pounds of eggs annually […] Read more
Nestle to switch to cage-free eggs in U.S. by 2020
ConAgra to spin off Lamb Weston potato unit, rebrand
Reuters — ConAgra Foods said it will spin off its Lamb Weston frozen potato products business into a separate public company, the latest in a series of changes announced by the maker of Chef Boyardee pasta and Slim Jim jerky at a time when consumers are shifting to less-processed foods. Lamb Weston will hold ConAgra’s […] Read more
General Mills recalls 1.8M boxes of gluten-free Cheerios
Reuters — General Mills is recalling 1.8 million boxes of gluten-free Cheerios cereal because they may contain wheat, which can cause adverse reactions in people with gluten allergies. The company said Monday it was recalling the original and honey nut-flavoured varieties of Cheerios produced on certain days at its Lodi, California facility, saying wheat flour […] Read more
ConAgra to cut 1,500 jobs, shift base to Chicago from Omaha
Reuters — ConAgra Foods said it would cut about 1,500 jobs and move its headquarters to Chicago from Omaha as part of a plan to save at least US$300 million in three years. The maker of Chef Boyardee pasta and Healthy Choice dinners is under pressure to cut costs and accelerate growth as consumers shift […] Read more
ConAgra Foods to exit struggling private label business
Reuters — ConAgra Foods, the maker of Slim Jim beef jerky and Chef Boyardee pasta, said it planned to exit its struggling private label foods business as it seeks to boost profit margins and focus on its faster growing consumer foods segment. ConAgra CEO Sean Connolly, who joined in April, said on the company’s earnings […] Read more
Sysco sees U.S. bird flu hurting egg supply up to 18 months
New York | Reuters — Food distributor Sysco Corp. said on Friday that a record U.S. outbreak of avian flu would limit its chicken and egg supply for nine to 18 months, based on information provided to the company by its suppliers. Sysco is the biggest U.S. food distributor, whose clients include restaurants, hotels and […] Read more
U.S. CFTC sues Kraft, Mondelez over alleged wheat price manipulation
Reuters — The U.S. Commodity Futures Trading Commission on Wednesday charged Kraft Foods Group and Mondelez International with manipulation of prices of wheat used in products such as Oreo and Chips Ahoy cookies. The regulator alleged that Kraft and Mondelez bought $90 million of wheat futures, or a six-month supply, but never intended to take […] Read more
Kraft to combine with Heinz in deal led by 3G, Buffett
Reuters — Ketchup maker H.J. Heinz, owned by 3G Capital and Warren Buffett’s Berkshire Hathaway, is acquiring a majority stake in Kraft Foods Group to create the third-largest North American food company, executives said on Wednesday. Shares of Kraft — which operates 35 plants in Canada, the U.S. and Puerto Rico — were up more […] Read more
Shake Shack IPO comes amid hunger for premium burgers
New York | Reuters — Shake Shack Inc.’s filing this week for an initial public offering underscores a question for investors and foodies alike: How hungry are U.S. consumers for another burger chain? A key part of Shake Shack’s growth strategy involves expanding its locations beyond its New York base, and investors and analysts are […] Read more
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