Lindt & Spruengli Plans a $200 million U.S. Expansion

Tasting success in the U.S. market, Switzerland chocolatier Lindt & Spruengli plans a $200 million expansion of its Stratham, N.H., plant over the next four years, the Bloomberg news service reports.

The plant reportedly will add lines and especially automation “for premium chocolate” – which covers most of the company’s products. The site will eventually have more than 1 million square feet of space for production, storage and distribution, Bloomberg reports.

Read full post here.

Nestlé acquires rights to Starbucks CPG business for $7.2B

Nestlé S.A. has acquired the global rights to sell packaged retail products from coffee giant Starbucks Corporation for $7.15 billion plus additional royalties. The agreement will “accelerate and grow the global reach of Starbucks brands in Consumer Packaged Goods (CPG) and Foodservice,” according to a press release from Starbucks. This segment, which generated annual sales of $2 billion, includes whole bean and ground coffee products under the Starbucks brand, as well as coffee and tea products marketed by Seattle’s Best Coffee, Starbucks Reserve, Teavana, Starbucks VIA and Torrefazione Italia in at-home and away-from-home channels.

Read full post here.

NECCO May Close, Lay off Workers, if Buyer Isn’t Found

New England Confectionery Co. (NECCO), maker of the iconic Valentine’s Day conversation hearts candy Sweethearts, celebrated its 170th anniversary last year. But unless a buyer is found by May 6, the company has notified the city of Revere, Mass., it may have to lay off 395 employees and potentially close its manufacturing plant, reports The Boston Globe.

According to The Globe, NECCO is the Boston suburb’s largest employer. Along with conversation Sweethearts, the company also produces Mary Janes, NECCO Wafers, Clark Bars and Candy Buttons.

Read full post here.

Processor of the Year 2017: Pinnacle Foods

Pinnacle Foods’ story reads like the shows on home improvement channels. Metaphorically, the company began as HGTV’s “Fixer-Upper” and “House Hunters,” then segued into “Income Property.” With recent independence and a new strategy going forward, it’s switching channels to DIY’s “This New House,” maybe even “Dream House.”

Read full post here.

Tyson Foods to Cut 450 Jobs, Discusses Future Plans

Tyson Foods, Inc., Springdale, Ark, has announced on Sept. 28 plans to eliminate 450 jobs across several areas and levels of the company, citing potential redundancies from Hillshire Brands, AdvancePierre Foods and Tyson Foods employees. The layoffs were not unexpected as Tyson made similar cuts after its purchase of Hillshire Brands. News reports in late September also mentioned the company boosting its earnings guidance on strong beef segment performance.

Read full post here.

Conagra Buys Angie’s Boomchickapop Popcorn’s Parent Company

Orville Redenbacher’s popcorn owner, Conagra Brands, Chicago, is acquiring Angie’s Artisan Treats, LLC, Mankato, Minn., maker of Angie’s Boomchickapop ready-to-eat popcorn. Angie’s Artisan Treats is owned by TPG Growth, a middle market and growth equity platform of alternative asset firm TPG. Financial terms were not disclosed. Conagra said the deal should close by the end of the calendar year, subject to customary closing conditions, including the receipt of regulatory approvals.

Read full post here.