Reuters — A U.S. judge has barred Kraft, Kellogg and other major food producers from showing what the court called “shocking” and “heart-wrenching” videos of conditions inside certain hen houses at an upcoming antitrust trial against egg producers and marketers. In a ruling on Tuesday, U.S. District Judge Steven Seeger in Chicago said the risk […] Read more
Tag Archives kraft
‘Shocking’ farm videos barred at egg-price antitrust trial in Chicago
Food firms sought to show animal care claims not genuine
U.S. CFTC says Kraft, Mondelez to pay $16M in wheat price manipulation case
Reuters — The U.S. Commodity Futures Trading Commission (CFTC) said on Thursday Kraft Heinz and Mondelez International will have to pay US$16 million in penalty regarding a wheat manipulation case that dates back to 2015. Kraft Heinz, which was Kraft Foods until 2015, and snack food firm Mondelez bought $90 million of December 2011 wheat […] Read more
Parmalat’s play for Kraft cheeses clears regulators
Dairy giant Parmalat’s proposed $1.62 billion deal for Kraft Heinz’s “natural” cheese business in Canada has cleared federal antitrust regulators. The federal Competition Bureau on Thursday said it issued a “no action letter” to the two companies and would put up a position statement detailing its reasons in the “coming days.” The deal is expected […] Read more
Kraft walks away from ‘friendly’ bid for Unilever
New York | Reuters –– U.S. food company Kraft Heinz withdrew its proposal for a US$143 billion merger with larger rival Unilever, the companies said Sunday, raising questions about whether Kraft will turn its focus to another target. Kraft had made a surprise offer for Unilever to build a global consumer goods behemoth — an […] Read more
Austere empire-building weighs on Kraft’s Unilever bid
Reuters — Buyout firm 3G Capital managed to build a consumer empire with a market value of over US$140 billion in just seven years. Yet its ruthless approach to costs may end up hampering 3G-backed Kraft Heinz’s US$143 billion bid for Unilever Plc. 3G made its name in corporate America by orchestrating large debt-laden acquisitions […] Read more
Ardent to buy major Ontario soft wheat mill
The owner of Canada’s Robin Hood flour mills is poised to buy the biggest soft wheat milling operation in the country. Ardent Mills, the joint North American flour venture of agrifood giants Cargill, CHS Inc. and ConAgra, announced Thursday it will buy the former Kraft Milling operation in Mississauga, Ont. from Mondelez Canada for an […] Read more
Kraft Heinz to cut 2,500 jobs in Canada, U.S.
Reuters — Kraft Heinz Co. said it will eliminate 2,500 jobs in the U.S. and Canada, including about 700 at its Chicago-area headquarters. Heinz, backed by Warren Buffett’s Berkshire Hathaway and Brazilian private equity firm 3G Capital — known as an aggressive cost-cutter — combined with Kraft in March in a $46 billion deal that […] Read more
Canadian, U.S. regulators clear Heinz and Kraft merger
Antitrust regulators in both Canada and the U.S. have fixed their seals of official inaction on ketchup giant H.J. Heinz’s play for control of Kraft Foods Group. Canada’s Competition Bureau has confirmed that it wrapped its review of the proposed deal and issued its “no action” letter to the companies on Wednesday. A “no action” […] Read more
Nestle says taking action to keep top slot in food industry
London | Reuters — Nestle told shareholders Thursday it is taking steps to maintain its position at the head of the global food industry, where consolidation will create two big new rivals. Nestle chairman Peter Brabeck-Lemathe told the company’s annual shareholder meeting the creation of Kraft Heinz Co. and Jacobs Douwe Egberts, as well as […] 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
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