Keurig Dr Pepper completes Merger between Keurig Green Mountain and Dr Pepper Snapple Group

BURLINGTON, Mass. & PLANO, Texas — Keurig Dr Pepper (NYSE: KDP) today announced the successful completion of the merger between Keurig Green Mountain and Dr Pepper Snapple Group. The transaction creates the seventh-largest company in the U.S. food and beverage sector and third-largest beverage company in North America, with annual revenues of approximately $11 billion.

Read full post here.

 

Conagra acquires Pinnacle for $10.9 B

Conagra Brands announced today that it will acquire Pinnacle Foods for $10.9 billion in cash and stock. The deal is expected to close before the end of 2018. The merger of Conagra and Pinnacle makes the duo the second-largest U.S. frozen food company behind Nestle. Pinnacle’s portfolio — which includes brands such as EVOL, Udi’s, Glutino and Birds Eye — also helps Conagra with the company’s multi-year transformation plan. Combined, the new conglomerate’s net sales are approximately $11 billion based on both Pinnacle and Conagra’s latest fiscal year results.

Read full post here.

PepsiCo To Buy Bare Snacks

PepsiCo Inc. on May 25 announced an agreement to acquire Bare Foods Co. (doing business as Bare Snacks), a U.S.-based maker of baked fruit and vegetable snacks. Neither the price of the purchase nor the sales level of the acquired company was disclosed. Nor whom the seller was.

Bare Snacks was founded in 2001 by a family-owned organic apple farm in Washington that began selling packaged baked apple chips in local farmers’ markets. Under its current leadership team, it has expanded steadily to become the leader in apple, banana and coconut snacks.

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.