JBS reports $53.2M net loss as chicken glut eases and beef supply tightens

Despite unfavorable protein conditions, the meat giant expects commodity and input prices to improve in the coming months for pork and poultry.

By Nathan Owens • Aug. 17, 2023

Smithfield owner expects tough market conditions to persist

Meat processing giant WH Group has seen pork profits plummet this year as high costs and demand challenges take their toll on its U.S. and Mexico operations.

By Nathan Owens • Aug. 16, 2023

Explore the Trendline➔

Mergers and acquisitions

Declining sales and slowing consumption have more companies divesting brands, opening the door for smaller players and private equity firms to expand their portfolios.  

By Food Dive staff

Welch’s OKs parents stealing Fruit Snacks in first-ever storybook

“Sometimes It’s Not Stealing,” narrated by actor Kristin Chenoweth, playfully makes a case for parents who indulge in their children’s fruit snacks.

By Jessica Hammers • Aug. 15, 2023

Kraft Heinz appoints head of North American operations as CEO

Carlos Abrams-Rivera will take leadership control of the CPG giant starting in January 2024. Current CEO Miguel Patricio will move to a non-executive role on the company’s board.

By Chris Casey • Aug. 14, 2023

Pink pineapples boost Fresh Del Monte earnings

Demand is outpacing supply for the produce giant's innovative Pinkglow fruit, which took 16 years of bioengineering to create.

By Sarah Zimmerman • Aug. 10, 2023

Flavor and ingredients provider IFF struggles as consumers cut back on spending

The company slashed its outlook and said volumes are not expected to recover in the second half of the year.

By Christopher Doering • Aug. 10, 2023

Kellogg pins growth in snacking unit on Pringles, Cheez-It ahead of split

The two brands, along with Eggo, Pop-Tarts and Rice Krispies, will be responsible for about half of the more than $13 billion in sales from the new company called Kellanova.

By Chris Casey • Aug. 9, 2023

Meatable raises $35M as it aims to boost production and lower costs

The Netherlands-based cultivated meat company plans to enter retailers and restaurants in Singapore starting in 2024, while looking into other markets such as the U.S. in the future.

By Elizabeth Flood • Aug. 9, 2023

Troubled Beyond Meat reduces 2023 outlook as revenues plummet by almost a third

The plant-based meat company reported disappointing second quarter results as the brand struggles to educate consumers on the benefits of its products.

By Elizabeth Flood • Aug. 8, 2023

8 questions with Daily Harvest founder and CEO Rachel Drori

The head of the plant-based meal company discusses potential impacts of a major retail deal with Kroger.

By Judy McGuire • Aug. 8, 2023

Anheuser-Busch to sell 8 beer and beverage brands to pot company Tilray

The purchase for an undisclosed amount will elevate the Canadian firm to the fifth largest craft beer player in the U.S with brews such as Shock Top and Redhook.

By Christopher Doering • Aug. 8, 2023

Molson Coors expands further into bourbon with Blue Run Spirits acquisition

The deal, the beverage company’s first in the spirits space, is part of an aggressive multi-year effort to expand into other categories beyond beer.

By Chris Casey • Aug. 8, 2023

Tyson Foods to shutter 4 poultry plants

The closures are the latest announced by the company in 2023 as it faces headwinds caused by slowing sales of its products and higher operating costs.

By Chris Casey • Aug. 7, 2023

Campbell Soup to buy Rao’s maker Sovos Brands for $2.7B

The purchase, the largest in five years for the CPG giant, also will allow the soup and snacks maker to expand its portfolio with brands such as Michael Angelo’s frozen meals and Noosa yogurt.

By Christopher Doering • Aug. 7, 2023

Kellogg boosts outlook after raising prices

The Corn Flakes and Cheez-It maker said cash-strapped consumers are curtailing purchases, which led to a drop in volumes during the quarter.

By Chris Casey • Aug. 3, 2023

Livekindly Collective expands with acquisition of Alpha Foods

This is the company’s sixth food brand purchase, and its first in the U.S., as it attempts to build a dominant presence in the plant-based sector.

By Elizabeth Flood • Aug. 2, 2023

Beer controversy exacerbates 16% drag in Ardagh’s North American glass shipments

The company is progressing on a planned 15% net reduction in North American glass capacity amid market factors such as lower beer demand, including at customer AB InBev’s brand Bud Light.

By Maria Rachal • Aug. 2, 2023

Plant-based meat alternatives continue decline in sales

Alternative meat sales in U.S. retail locations have fallen by 19.8% year-over-year, according to data from Circana.

By Elizabeth Flood • July 31, 2023

Nestlé taps startup to advance regenerative agriculture in beef production

The CPG will work with Grassroots Carbon to pay ranchers for practices that restore soil health and reduce emissions.

By Sarah Zimmerman • July 31, 2023

Anheuser-Busch lays off hundreds of corporate employees

The job cuts follow months of declining sales for Bud Light, which was dethroned as the best-selling beer in the country after the controversy involving Dylan Mulvaney.

By Chris Casey • July 27, 2023

Eat Meati expands footprint with Whole Foods launch

The mushroom root-based meat alternative continues to scale its fully vertically integrated manufacturing capabilities to support its rapid growth in both retail and food service locations.

By Elizabeth Flood • July 27, 2023

Kellogg files separation form with SEC

The snacking giant took the next step toward splitting into two businesses, one focusing on cereal and the other on snacking.

By Chris Casey • July 26, 2023

Former Mondelēz exec launches $80M agtech startup fund

Gil Horsky, who led the CPG's venture capital arm, is helping start Flora Ventures, a new fund to invest in food sustainability.

By Nathan Owens • July 25, 2023

How craft beer saturation led to Anchor Brewing’s demise

The oldest brewery in the U.S. fell victim to a crowded market and high costs as it tried to remain relevant to younger consumers, a Marcum executive told Food Dive.

By Chris Casey • July 25, 2023

Keurig Dr Pepper pays $300M for 33% stake in La Colombe, strikes licensing deal

The beverage giant has been deepening its ties to fast-growing companies with a presence in premium and trendy offerings, having previously invested in Athletic Brewing and C4 Energy drink maker Nutrabolt.

By Christopher Doering • July 20, 2023