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.
This week’s podcast features three major CEO changes, several production investments, acquisitions and some quirky new product releases.
Molson Coors, Dean Foods and Multivac all announced CEO changes in recent days. Hans-Joachim Boekstegers is stepping down as Multivac chief executive following 18 years in the role. Molson Coors CEO, Mark Hunter, is retiring to spend more time with his family after 30 years in the beer business.
Meanwhile, Campbell Soup Company revealed plans to offload Australian snacks unit Arnott’s and some of its international operations to investment firm KKR for $2.2 billion.
Hostess Brands entered into an agreement to sell its Superior Cake Products in-store bakery business to Sara Lee Frozen Bakery for $65 million.
There were a series of Asia Pacific-focused investments last week. SIG will spend €180 million to build a new packaging production plant in Suzhou, China, and PepsiCo lined up a $74.4 million snacks facility in India.
In the dairy industry, Danone announced $26.5 million investment in its Nutricia spray drying plant in New Zealand to help the site achieve carbon neutrality by 2021.
In the UK, Diageo said it will move its global headquarters from its current building in Park Royal, London, to a new home in the centre of the capital in 2021.
Finally, we saw Carlton & United Breweries launch a new Victoria Bitter tea in Australia to coincide with year’s Ashes cricket series. And UK brand Nooro released two new CBD snack bars to tap into consumer demand for functional snacking options.
Presented and edited by: Jules Scully and Bryony Andrews
© FoodBev Media Ltd 2019