Rahul Goyal Molson Coors Beverage Company has announced the appointment of Rahul Goyal as its new president and chief executive officer, effective 1 October 2025. Goyal, who currently serves as the company’s chief strategy officer, will succeed Gavin Hattersley, who will remain in an advisory role until the end of the year to facilitate a smooth transition. Goyal’s promotion comes after a 24-year tenure at Molson Coors, where he has played a pivotal role in shaping the company’s strategic direction. His extensive experience spans various executive positions, including chief information officer in the UK and chief financial officer in India. Most recently, as chief strategy officer, Goyal has been instrumental in expanding the company’s portfolio and driving its 'beyond beer' strategy, which includes successful partnerships with brands like The Coca-Cola Company and Fever-Tree. David Coors, chair of the board, commented: “After an extensive CEO succession process, it was clear that Rahul brought the right experience and vision needed to drive the next phase of growth for Molson Coors”. Coors also highlighted Goyal’s strong institutional knowledge and his eagerness to introduce innovative thinking that aligns with the company’s strategic priorities. Goyal’s track record of fostering partnerships and managing acquisitions, including those of Zoa and Naked Life, positions him well to lead Molson Coors through an evolving beverage landscape. His appointment comes at a time when the company is looking to capitalise on emerging consumer trends and expand its reach beyond traditional beer offerings. In his statement, Goyal acknowledged the challenges and opportunities ahead. “I am honoured to take on the CEO role and lead this company towards its next chapter of growth,” he said. Goyal emphasised the importance of leveraging Molson Coors’ legacy of strong brands and a dedicated workforce to meet the demands of today’s market. Outgoing CEO Gavin Hattersley praised Goyal’s dedication and results-driven approach, noting that he has consistently demonstrated the ability to apply purpose and clarity to his work. “I have no doubt that he will inspire this team and lead Molson Coors to its full potential,” Hattersley remarked. With Goyal at the helm, Molson Coors is expected to continue its expansion into non-alcoholic beverages and flavoured options, reflecting a broader industry trend towards diversification. The company’s portfolio includes well-known brands such as Coors Light, Miller Lite and Blue Moon, alongside newer entries in the seltzer and spirits categories.

Yoplait has made an entry into the kids’ yogurt market with the launch of Petits Filous Natural, the first-ever natural unsweetened yogurt specifically designed for children. This product, available in a 450g sharing pot, is fortified with calcium and vitamin D and contains no added sugar, honouring the brand's commitment to enhancing children's nutrition across the UK. The introduction of Petits Filous Natural comes in response to statistics indicating that over 1 million children in the UK are at risk of poor growth and development due to deficiencies in essential nutrients such as calcium and vitamin D. Recent data highlights a troubling decline in calcium intake among children, with nearly 20% of 4- to 10-year-olds clinically deficient in vitamin D, leading to a resurgence of bone health issues like rickets for the first time since the 1950s. Ewa Moxham, head of marketing at Yoplait, said: “With 61% of children aged 0-9 consuming yogurts outside the kids’ category, primarily plain and Greek yogurts, we recognise a gap in fortified options critical for healthy development”. The new Petits Filous offering aims to bridge this gap by providing a nutritious alternative that meets both taste and health needs. The 450g format is designed for practicality, allowing for multiple servings, making it suitable for various occasions, including breakfast. Parents can customise their servings with fruits, nuts and seeds, promoting a fun and engaging way to incorporate healthy eating habits into children's diets. The product is priced at an RRP of £1.95 and is expected to resonate with both existing and new consumers in the kids’ yogurt category, reinforcing Yoplait’s long-standing commitment to fortification and nutritional excellence. The brand has been a leader in this space for over 15 years, with its established products like Petits Filous and Frubes already recognised for their calcium and vitamin D content.

Heineken has announced a landmark acquisition of Florida Ice and Farm Company (FIFCO), acquiring the remaining 75% stake in Distribuidora La Florida and other beverage and retail assets for approximately $3.2 billion. This move is set to significantly enhance Heineken's presence in Central America, particularly in Costa Rica and Panama, where the company aims to tap into expanding profit pools in the beverage market. The acquisition includes a diverse portfolio featuring Costa Rica's iconic Imperial beer, a substantial soft drink business and ownership of over 300 retail outlets under the Musmanni brand. Additionally, Heineken will gain full ownership of Heineken Panama and strengthen its partnership in Nicaragua’s leading beverage company, Compañía Cervecera de Nicaragua. Dolf van den Brink,Heineken’s CEO, described the acquisition as a transformative milestone that will unlock new growth opportunities. “By integrating FIFCO’s iconic brands and market expertise, we are accelerating our EverGreen strategy and entering new profit pools across Central America,” he said. This transaction is expected to be immediately accretive to Heineken's operating margin and earnings per share. The total cash consideration for the equity stakes implies an acquisition multiple of 11.6x EV/EBITDA based on 2024 results, reflecting the robust financial health of the acquired businesses. The deal has received unanimous approval from FIFCO's board and is subject to shareholder and regulatory approvals, with completion anticipated in the first half of 2026. This acquisition continues Heineken's long-standing relationship with FIFCO, dating back to 1986, and builds on a previous investment in FIFCO’s beverage business. The strategic rationale behind the acquisition includes consolidating market leadership in Costa Rica, where Heineken will benefit from a well-established route-to-consumer model and a leading position in both beer and non-alcoholic beverage categories. Heineken's expansion into Central America aligns with its EverGreen strategy, which emphasises premiumisation, innovation and sustainable growth across high-potential markets. The acquisition is expected to generate significant revenue and cost synergies as Heineken applies its global best practices in commercial execution and operational efficiency. Following the transaction, Heineken will hold a 100% stake in Distribuidora La Florida and the beyond beer business in Mexico, alongside a 49.85% stake in Compañía Cervecera de Nicaragua. The integration of these assets is projected to deliver run-rate cost savings of approximately $50 million. With this acquisition, Heineken is poised to strengthen its market position in Central America, leveraging FIFCO’s established brands and distribution networks to drive future growth. The company remains committed to its long-term target of maintaining a net debt-to-EBITDA ratio below 2.5x, continuing its previously announced €1.5 billion share buyback programme unaffected by the transaction. Featured image credit: ©Florida Ice and Farm Company

Richard Hall With the Vertical Farming World Congress attracting leading companies from all over the world to Amsterdam from 7-9 October, organiser Richard Hall, who is also chair of FoodBev Media, reflects on past lessons and future prospects. A lot went right. A lot went wrong. A lot is good. A lot needs fixing. What went right The first signs for vertical farming were spectacular. What could be of greater benefit than a positive response to climate change? No seasons, no floods, no droughts, no pesticides. Less water, less waste. Better nutrition, better shelf life. Better taste, better presentation. Quicker crops. Less space. Genuine control over growing conditions. Billions were raised. Several companies were valued at over $1 billion each. New science was developed. Old nature was revisited for its heritage values. Self-sufficiency in space became a possibility. What went wrong To me, the biggest problem was a disconnect. You can only be successful in fresh food if you have a customer base and a reliable supply chain to serve it at an affordable price. This was the most astonishing and basic oversight for many of the failures. The other key mistake was that so many companies seemed to want to invent their own proprietary growing and technology systems, which involved huge expense and produced varied results. More well known were the 2022 increase in energy costs, the difficulty of achieving mainstream price parity, the limitations of reliance on leafy greens and microgreens, the uncertainties of most other crops and the lack of public policy awareness or support. A lot is good Fortunately, lessons have been learned. Painfully. There are few companies that were in leadership positions five years ago and retain leadership positions today. A good number of them will be speaking at our Congress next month. Possibly the most important two lessons have been about location and scale. Location is vital, to secure the cheapest possible energy. Proximity to heat from waste appears to be the most potent strategy. Solar or other renewable sources and grid connections may also help maintain year round consistency of availability and flexibility of cost. And the right location can save on rent and gain from infrastructure support. Scale started off as a question and may become a question again. Will every home have one? Will there be vertical farms in all large supermarkets? Will multiples of shipping containers be more viable? Will regional distribution hubs be most efficient? Will everything depend on AI and remote control? Or will people hold the solution in their hands? The answer currently favours substantial regional operations rather than hyper-local production. This is mainly a function of capital cost, supply chain dynamics and operating cost management. There is a lot more good Vertical farming can genuinely help feed the world. More appetisingly and more nourishingly. It can complement the rest of farming. It can become a key part of combating climate change and improving the planet’s resilience. Vertical farming is not one dimensional. There is totally controlled environment agriculture in a confined space without natural light. But there can also be hybrid systems, incorporating natural sunlight or using totally controlled space to propagate seeds before planting them in greenhouses or open fields. It’s conceivable that many farms will in time have vertical farms within them to make them more sustainable. Vertical farming can help ageing agriculture renew itself. It can also bring people closer to understanding where food comes from. It can reintroduce tastier varieties that we’ve lost because supermarkets placed greater priority on shape and endurance on long road transport journeys. But a lot needs fixing Vertical farming is still a tiny industry. Its technology suppliers are much bigger than the growers. Actual vertically farmed produce sales worldwide in 2024 were probably less than $2 billion. Yet there are dozens of companies, with many different systems. Competing technology is being developed in isolation. It’s hard to plug and play. How many suppliers can be experts at everything? When will we see more specialisation? There isn’t a common language, common messaging or common data. Sustainability standards remain to be set, adopted and communicated. There are hardly any dedicated associations and none with a global profile. No wonder governments and regulators don’t appreciate the opportunity. Almost every company, no matter how small, is researching and chasing multiple products and markets. Trees, pharma, cosmetics, wheat, rice, coffee, mushrooms, strawberries – these all have potential for major success. But I think most businesses would be well advised to focus on a few, simple, proven and provable propositions. In the 1990s, I started working closely with a brand that few had ever heard of, in a product category that did not exist. For years, it kept an absolute focus on a single product in a single pack. Today its valuation is $300 billion. The category, energy drinks. The company, Red Bull. The vertical farming industry needs to position itself to consumers, retailers, farmers and policy makers as an amazing collaborative contributor to solving substantial problems facing society. Healthier, more sustainable food. Now, that’s a green future. It’s not too late to book... To pick up on the latest in the market and science, explore strategies and crops, and hear about forecasts and innovations, be sure to book your place at our Vertical Farming World Congress next month. Over just two days, it provides the highest-level forum for growers, suppliers and advisers, offering a global perspective and unparalleled networking opportunities. Full programme and booking details are at foodbevevents.com . We hope to see you there!

PepsiCo and Unilever, alongside other key players in the retail and food and beverage sectors, have unveiled the 'STEP Up for Agriculture' initiative. This collaboration aims to enhance regenerative farming practices through tailored support systems for farmers, reinforcing the commitment of these corporations to sustainable sourcing and resilient supply chains. The initiative, formally known as Supporting Trusted Engagement and Partnership (STEP), seeks to empower farmer-facing organisations by providing essential tools, training and funding. This strategic approach is designed to facilitate the adoption of sustainable agricultural practices, which are critical for addressing pressing environmental challenges such as soil degradation, biodiversity loss and climate change. PepsiCo, which sources a diverse range of agricultural ingredients globally, has set an ambitious goal to transition 10 million acres to regenerative practices by 2030. Jim Andrews, Chief Sustainability Officer at PepsiCo, said: "When farmers thrive, we all thrive." The initiative recognises that successful transitions to regenerative agriculture require more than just technical solutions; they depend on strong relationships and local knowledge. The STEP Up for Agriculture initiative is not merely a corporate initiative but a multi-tiered partnership model that includes corporations, nonprofits, and farmer-led groups. This collective action aims to create a robust ecosystem that empowers farmers and drives scalable change. Kristina Friedman, head of sustainability for Unilever North America, highlighted the initiative's potential: "STEP up for Ag' can help us move faster and smarter, empowering farmer-led groups with the tools they need". Key components of the initiative include: Funding and strategic support: Corporate and philanthropic partners will provide resources to enhance the capacity of farmer support organisations. Training and development: The initiative aims to expand staffing and training to equip farmers with modern practices and tools. Measurement and reporting: Establishing systems to track progress in sustainability efforts will be crucial for accountability and transparency. The initiative has already begun its European expansion with a pilot programme in Spain, in collaboration with the farmer-led cooperative Garlan. This pilot will allow Garlan to design its own regenerative agriculture programme, improving access to high-quality guidance for local farmers.

Canadian ice cream maker Chapman’s has invested more than CAD 200 million (approx. $145 million) into its manufacturing operations in Ontario, Canada. The investment will support the introduction of new products to the Canadian market, while also positioning Chapman’s to develop its export business and meet growing demand in international markets. As part of this expansion, a new 175,000-square-foot facility will be added to the company’s operations in the region. Three new production lines will come online initially, with three more planned in the years ahead. The project will also create 200 new jobs. The investment will also be supported by a loan of up to CAD 27 million (approx. $19.5 million) through the Invest Ontario Fund. Invest Ontario said the expansion will create new opportunities for Canadian suppliers, contributing to the growth of the province’s agri-food economy as more Ontario-made food products are being manufactured and widely supplied. All of Chapman’s products are made in Markdale, Ontario, using milk and cream exclusively sourced in Canada. The company, founded in 1973, currently employs over 800 full-time workers in Markdale, making it the community’s largest employer. The expansion will feature state-of-the-art equipment and automation technology, helping to boost production capacity, improve efficiency and support staff upskilling. Ashley Chapman, COO of Chapman’s, said: “This expansion comes at a critical time for Chapman’s. The competition from multinationals has only increased in recent years, and this project will help us to establish a stronger competitive ground.” Khawar Nasim, CEO of Invest Ontario, added: “Chapman’s is a household name in Canada and an Ontario success story. Through this expansion, they are reinforcing their roots at home while opening doors to the world market.” Top image: © Chapman's

Lindt & Sprüngli has released two new varieties of its highly sought-after Dubai Style Chocolate: Lindt Dubai Style Chocolate White and Lindt Dubai Style Chocolate Dark. This expansion comes on the heels of a successful initial release that saw the original Milk chocolate variety sell out within just five days, demonstrating the growing consumer appetite for unique and indulgent chocolate products. The Dubai Style Chocolate, inspired by the popular creations of Sarah Hamouda from FIX Dessert Chocolatier in Dubai, features Lindt's signature Swiss chocolate blended with a rich pistachio filling and topped with crispy Kadayif pastry. The new offerings aim to cater to a broader audience by providing options for white and dark chocolate lovers, thereby enhancing the brand's appeal in a competitive market. The new White variety boasts an ultra-creamy texture with a delicate sweetness that complements the nutty notes of pistachio, while the Dark option features a robust 70% cocoa content, delivering an intense flavour that pairs harmoniously with the sweet filling. Each bar is designed to provide a luxurious snacking experience, appealing to consumers looking for high-quality chocolate treats. Stefan Bruderer, master chocolatier at Lindt, said: "We were overwhelmed with joy to see the reaction of fans when we restocked our Lindt Dubai Style Chocolate earlier this year. We’re excited to expand the range further for chocolate lovers to try the popular flavour in new ways." The complete Lindt Dubai Style Chocolate range now includes: New Lindt Dubai Style Chocolate White Bar (150g) New Lindt Dubai Style Chocolate Dark Bar (145g) Relaunched Lindt Dubai Style Chocolate Milk Bar (150g) Relaunched Lindt Dubai Style Chocolate Praline (90g) Relaunched Lindt Dubai Style Chocolate Bar (40g) These products are available for £10 each, exclusively online and in select Lindt stores, including the flagship location in Piccadilly Circus, London. Retailers have already noted the popularity of these items, with some limiting purchases to two bars per customer during previous sales due to high demand.

Terra Oleo, a Singapore-based biotechnology firm, has officially emerged from stealth mode, announcing a $3.1 million funding round backed by Breakthrough Energy Discovery. The company aims to revolutionise the production of fats and oils by offering sustainable alternatives to palm oil derivatives and cocoa butter, targeting applications in personal care, cosmetics, pharmaceuticals and food sectors. As global supply chains for palm oil and cocoa face mounting pressures from climate change, regulatory scrutiny, and land scarcity, prices and volatility have surged. In 2024, cocoa stocks plummeted by 26%, and palm oil exports fell 5.83% year-over-year, highlighting the urgent need for viable alternatives. Terra Oleo's innovative approach utilises precision fermentation to convert agro-industrial waste into high-performance lipid ingredients, addressing these challenges head-on. The company’s tunable platform is designed to produce tailored lipid profiles that meet the specific requirements of various industries while eliminating the energy-intensive refining processes and toxic byproducts associated with traditional methods. This unique capability positions Terra Oleo to deliver superior unit economics and accelerate market adoption compared to other solutions on the market. Terra Oleo's technology has the potential to significantly impact the environment, with estimates suggesting it could eliminate up to 900 million tons of CO₂ emissions annually from palm oil and cocoa supply chains. Co-founders of Terra Oleo (from left): Min Hao Wong, Shen Ming Lee and Boon Uranukul This aligns with the growing demand for sustainable practices in the personal care and food sectors, where companies are increasingly prioritising eco-friendly ingredients. The firm has already secured product testing agreements with several leading players in the oleochemicals, food, personal care and cosmetics industries, indicating strong interest and validation of its technology. With demand on the rise, Terra Oleo is poised to transition from laboratory-scale operations to commercial production, ensuring its products can match or exceed the performance of conventional offerings. Founded by Shen Ming Lee, Boon Uranukul and Min Hao Wong, Terra Oleo leverages their combined expertise in science, industry and strategy to drive its mission of decarbonising palm oil and cocoa production. "We founded Terra Oleo to reinvent how we produce the fats and oils that power our everyday lives," stated Lee. "With support from the Breakthrough Energy Fellows programme and our investors, we are excited to bring sustainable, scalable alternatives to market." The Breakthrough Energy Fellows Program, which supports early-stage innovators in developing technologies capable of reducing greenhouse gas emissions at scale, has selected Terra Oleo as a participant for 2025. This prestigious backing will facilitate the company's transition from lab to pilot while advancing customer formulation testing and validation.

UK-based food brand Higgidy has launched its latest innovation: Protein-Powered Potato Frittata Bites. This new product is part of the company’s expanding Snacking & Sharing range, which has seen year-on-year growth of 16%, driven by increasing consumer demand for convenient and nutritious snack options. The new Frittata Bites are designed to meet the rising consumer interest in high-protein snacks, featuring savoury fillings that are not only delicious but also nutritious. Each bite is crafted with free-range British eggs and is naturally rich in protein, making them an appealing option for health-conscious consumers. The bites are available in two flavours: Pulled Ham Hock & Extra Mature Cheddar with Smoky Ketchup and Emmental & Extra Mature Cheddar with Buffalo Sauce, each offering a unique taste experience. Priced at £3.50 for a pack of six, the Frittata Bites are marketed as a wholesome, pastry-free snack option, with each serving containing only 40 calories. This aligns with Higgidy's strategy to diversify its product offerings beyond traditional pastry items. The Pulled Ham Hock variety combines outdoor-bred Beechwood smoked ham hock with mature cheddar and a smoky ketchup centre, while the Emmental variant features a blend of Emmental, cheddar, and protein-rich cottage cheese, enhanced with a spicy Buffalo sauce centre. Both flavours cater to the growing trend of bold, savoury snacks that appeal to a wide range of palates. "We are really excited to further expand our Snacking & Sharing range and launch another exciting product," said a Higgidy spokesperson. "We know shoppers are looking for new ways to introduce more protein into their diets, and we think our new Protein Boosting Potato Frittata Bites will provide a tasty way to do just that." Available at retailers including Sainsbury’s, Waitrose and Ocado, the Frittata Bites are positioned to attract both existing fans of the brand and new customers seeking innovative snack options. Higgidy's focus on sustainability is also noteworthy; the company has made significant strides in reducing food waste by donating surplus stock to FareShare Sussex, contributing to over 24,000 meals in 2024 alone.

Regal Foods, a global food and beverage group headquartered in the UK, has announced its acquisition of soft drinks brand Suncrest. The acquisition, which was completed for an undisclosed sum, marks a key milestone in Regal Foods’ growth journey. It will expand the group’s portfolio of F&B products – which already includes bakery, confectionery, snacks and drinks – while creating new opportunities for growth in both UK and international markets. Headquartered in Bradford, Regal Foods operates across both the retail and foodservice sectors. Suncrest, founded in 1985, is well-known for its range of tropical fruit-flavoured beverages. Its soft drink offerings span across still and carbonated varieties, available in bottled and carton formats. Popular flavours within its portfolio include mango, tropical, lyche, guava, coconut water, aloe vera and the South Asian favourite, lassi. To coincide with the deal, Suncrest will feature a new bottled variant across Asda stores nationwide in the run-up to Diwali. It will be available in mango, tropical, lychee and guava flavours. Younis Chaudhry, CEO of Regal Foods, commented: “We are delighted to welcome Suncrest into the Regal Foods family. As a well-loved and recognisable soft drinks brand, Suncrest is a natural fit for our expanding beverage portfolio and supports our long-term growth strategy.” Chaudhry added that Regal aims to reintroduce Suncrest to consumers with a focus on NPD and innovation to drive the brand’s growth.

UK-based dairy-free dessert brand The Coconut Collab has unveiled its latest innovation: Pistachio Pots. This latest addition joins the existing Choc Pots and White Choc Pots, catering to the growing consumer demand for unique, plant-based indulgences. Available now at Morrisons and Ocado, with additional retail launches scheduled for October, the Pistachio Pots reflect current market trends, particularly the rising popularity of pistachio flavours and influences from Dubai’s dessert scene. Each pot contains only 118 calories, aligning with health-conscious consumer preferences while still delivering a rich and satisfying taste experience. James Averdieck, founder of The Coconut Collab, said: “Over the past decade, our little ganache pots have gained cult status with UK shoppers. The new pistachio launch is a perfect example of trend-led innovation – the right product at the right time.” This sentiment is supported by recent market data, which indicates that The Coconut Collab is the among the only dairy-free dessert brands currently experiencing growth. Pistachio Pots, like all products from The Coconut Collab, are plant-based, gluten-free and crafted without palm oil, artificial colours or sweeteners, appealing to a broad audience of health-conscious and environmentally aware consumers. The brand's commitment to quality and sustainability has helped it carve out a significant niche in the competitive dessert market. Founded in 2014 by Averdieck, who also established the renowned Gü brand, The Coconut Collab has quickly become a favourite among both consumers and chefs alike, with its products featured in popular dining establishments such as Megan’s and Coco di Mama. With a retail price of £2.95 for a pack of four 45g pots, the Pistachio Pots are positioned to attract both existing fans and new customers looking for delicious, guilt-free dessert options.

Amy Humphreys Darigold, a US-based dairy producer and the processing and marketing arm of the Northwest Dairy Association, has appointed Amy Humphreys as CEO, effective October 1. Humphreys, who previously served as the company's CFO from 2015 to 2018, returns to Darigold at a pivotal time as the company seeks to enhance its operational efficiency and expand its market presence. Humphreys succeeds Allan Huttema, who has played a crucial role in steering the company through a transformative period since 2023. Huttema will return to his dairy farm in Idaho as a member-owner of NDA, marking the end of a significant chapter in Darigold's history. Tim Kuenzi, chairman of Darigold's board, said: “Amy brings a proven track record in leadership with vertically integrated food businesses like Darigold, and a keen focus on business performance, responsible and sustainable resource management, value expansion and business transformation”. Kuenzi deemed these skills essential as Darigold embarks on its modernisation efforts, particularly with the recent opening of a new production facility in Pasco, Washington. With a robust background in the food manufacturing and energy sectors, Humphreys is well-positioned to lead Darigold into its next phase of growth. Her experience includes holding executive roles in various industries, and she currently serves on the boards of both private and publicly held companies. Additionally, she is a member of the Economic Advisory Council for the Federal Reserve Board 12th District and the Nominating Committee for CoBank, which provides financial services to agricultural businesses. Humphreys holds an MBA from the University of Washington Foster School of Business and a Bachelor of Arts in Accounting and Finance from Puget Sound University. She is also a Certified Public Accountant in Washington State. As Darigold continues to capitalise on its new Pasco facility, which is the largest dairy processing plant in the Northwest, Humphreys’ leadership will be instrumental in driving efficiencies and exploring new growth opportunities. Kuenzi remarked: “Allan stepped in at a critical time, and we made significant progress under his leadership – standing up Pasco, improving operations, and strengthening our already capable leadership team. I know I speak for our full board in wishing him well as he returns to his life as a dairyman and in welcoming Amy back to the Darigold team.” Headquartered in Seattle, Darigold processes around 10 billion pounds of milk annually and offers a comprehensive range of dairy products for retail, foodservice, commodity and speciality markets. With 12 production facilities across the Northwest and additional offices in Boise, Idaho, and global locations in Mexico and Asia, Darigold remains a key player in the US dairy industry.