Tune into the latest edition of FoodBev’s weekly podcast, where we take an in-depth look at some of the biggest stories from the food and beverage industry over the last week – click here to access on Spotify.
This week’s podcast features financial results from major companies, some significant acquisitions in the dairy and beverage sectors and a new study that highlights a lack of consumer knowledge around the topic of CBD.
Major companies including Kellogg’s, Carlsberg and Kraft Heinz released their quarterly results last week. Molson Coors has announced a revitalisation plan to get back on track, after recording a continuous decline in its third quarter results.
Kellogg’s operating profit fell 33.4%, largely impacted by the absence of its divested businesses’, while Mondelēz International reported that is has reached “the next level of distribution in China”, where its biscuits and gum products are now sold by 1.5 million and 1 million stores respectively.
Meanwhile, Kraft Heinz CEO Miguel Patricio believes that while its results remained below its potential, the company has shown sequential improvement versus the first half.
There were a number of major acquisitions in the week, as Synlait announced a deal to acquire Dairyworks for NZD 112 million, in a move to expand its presence in Australia.
Lassonde Industries acquired Canadian fruit-based beverage manufacturer Sun-Rype from the Jim Pattison Group for $80 million as it aims to strengthen its presence in the branded juice and drinks sectors in Western Canada and North-Western US.
On the sustainability front, The Coca-Cola Company, PepsiCo and Keurig Dr Pepper have joined forces under a new US initiative spearheaded by the American Beverage Association (ABA) to reduce plastic waste from bottles.
An interesting study by the Grocery Manufacturers Association (GMA) claims that large numbers of consumers lack knowledge about CBD, and the association is now demanding federal regulation and oversight of the ‘exploding’ CBD market.
You’ll find all this and more in this week’s podcast – click here to subscribe.
© FoodBev Media Ltd 2020
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