Nestlé and Platinum Equity have announced the launch of Peranel, a 50/50 joint venture for Nestlé’s waters and premium beverages business. The transaction, announced today (23 July 2026), assigns an enterprise value of $5.6 billion to the new joint venture. It will create a new major, dedicated player in the water and premium beverages category and will be led by Nestlé Waters & Premium Beverages’ CEO, Muriel Lineau. Peranel’s portfolio will span more than 30 brands with products sold in 120 countries, including mineral water brands S.Pellegrino, Source Perrier and Acqua Panna, premium and functional hydration beverages, the global Nestlé Pure Life brand and other local water brands. Platinum Equity is an international investment firm with approximately $48 billion of assets under management. It will bring three decades of corporate divestiture experience to Peranel, combined with Nestlé’s experience in managing joint ventures. Headquartered in Paris, France, the newly established business includes an in-house R&D team that has contributed to approximately 120 launches since 2022. Philipp Navratil, CEO of Nestlé, said: “By partnering with Platinum Equity, Peranel will be better positioned to execute its strategy with enhanced agility”. “Through additional focus, it will be well equipped to drive its long-term growth ambitions by strengthening this unique portfolio of international and local brands, with continued investments in innovation, premiumisation, operational excellence and sustainability.” Platinum Equity’s co-president, Louis Samson, said that the firm will bring “unique energy and focus as well as business and operational expertise” to the joint venture. “Combined with Nestlé’s and Peranel’s world-class product development, execution and marketing capabilities, our joint venture creates a powerful partnership and a very strong team,” he commented. “We have great respect for Peranel’s brands, the people that bring them to life and the customers and communities they serve. We will leverage our extensive experience in establishing and supporting stand-alone companies to create long-term value.” The transaction is subject to employee consultation processes and regulatory approvals and is expected to close in the first half of 2027.

Meiji Holdings has agreed to sell its drinking milk, yogurt and B2B operations in China to Shanghai AustAsia Food for RMB 320 million (approx. $47.2 million). The transaction will involve the transfer of the relevant operations within Meiji (China) Investment, Meiji Dairies Tianjin and Meiji Dairies Suzhou. Meiji will transfer its entire interest in the business, leaving it with no ownership following completion. Before the deal closes, Meiji (China) Investment will move the operations covered by the agreement into a newly established subsidiary, which will then be transferred to Shanghai AustAsia Food. Meiji said China’s dairy market has changed considerably in recent years due to diversifying consumer preferences, shifts in sales channels, increased competition and higher raw material and logistics costs. The company said the divestment would allow it to reshape its Chinese portfolio and direct more resources towards priority areas, including its chocolate business. The operations recorded net sales of RMB 422 million (approx. $62.4 million) and an operating loss of RMB 155 million (approx. $22.9 million) in the year ended December 2025. This compared with sales of RMB 403 million (approx. $59.5 million) and an operating loss of RMB 144 million (approx. $21.3 million) in 2024. Certain intellectual property rights and brands associated with yogurt products, including those related to lactobacilli, are excluded from the transaction. Meiji Food Guangzhou, which also manufactures products covered by the sale, will remain part of the Meiji group. Production of the affected dairy and B2B products at the Guangzhou site will end before completion, after which the facility will continue operating as a chocolate production base. Shanghai AustAsia Food is a subsidiary of Hong Kong-listed AustAsia Group, which operates dairy farming, raw milk, beef cattle, animal feed and milk distribution businesses in China. Meiji currently holds a 15.85% stake in AustAsia Group and has an existing relationship with the company covering areas including raw material procurement. Meiji said combining the operations with AustAsia’s existing infrastructure could support improvements in raw material sourcing, manufacturing efficiency, distribution and plant utilisation. Following the transfer, AustAsia and the newly formed target company will take responsibility for operating the business and managing product quality. Meiji plans to license some of its trademarks for a limited range of products and for a defined period. The licensing agreement will include quality standards, auditing rights and provisions allowing Meiji to withdraw the licence in the event of a serious quality issue. The transaction is expected to close on 31 December 2026, subject to regulatory approval and other closing conditions.

Dietary fibre plays an essential role in digestive health, yet most people do not consume enough of it. The World Health Organization recommends at least 25g of fibre per day, but studies show only a small percentage of adults meet this target. This gap between recommendation and reality – often called the 'fibre gap' – highlights a clear need for practical solutions that help consumers increase their intake without sacrificing taste or convenience. Fibre's reputation has evolved. Once associated mainly with digestive regularity, it is now recognised by consumers as a foundation for broader health goals, including gut health, blood glucose management, the gut-brain axis, immunity and mental well-being. In fact, fibre has become the ingredient consumers most associate with gut health and is increasingly described within the food industry as a major nutrition trend. Bringing soluble fibre into everyday products Roquette addresses this opportunity through Nutriose, a range of soluble fibres derived from non-GMO wheat or corn. Nutriose is designed for easy integration into food and beverage formulations. It offers a bland taste, high solubility, low viscosity and excellent stability across a range of processing conditions, including heat, UHT treatment, extrusion and varying pH levels. Clinical studies support several health benefits associated with Nutriose. It acts as a prebiotic, selectively feeding beneficial gut bacteria by the production of short-chain fatty acids. It has an approved health claim in Europe confirming its contribution to lower postprandial glycemic responses. It also supports feelings of fullness, which can assist calorie intake management, and its slow fermentation in the colon allows for a gradual release of energy. Beyond its health properties, Nutriose is valued for its formulation practicality. Its off-white colour, bland taste and stability under diverse processing conditions allow manufacturers to enrich a wide variety of products – including beverages, baking, snacks, specialised nutrition, dairy and dairy alternatives, and sports nutrition – without compromising flavour, texture or appearance. For brands, the opportunity extends beyond formulation alone. Clearly communicating how much fibre a product delivers, how it contributes to daily intake, and why prebiotic fibres differ from generic fibre sources can help consumers better understand the value of what they are choosing. Nutriose soluble fibre supports this approach by combining clinically substantiated benefits with the digestive tolerance and formulation performance needed for everyday food and beverage applications.

Gummy manufacturer TopGum has unveiled a new collection of plant-based gummies that address key needs within the growing longevity category. The line includes five functional gummy composition designed to support cognition and eye health. Research from Innova Market Insights highlights how healthy ageing has transformed into a preventative, cross-generational movement, with 73% of consumers worldwide now rating healthy ageing as ‘extremely important’ or ‘very important’. Additionally, half of consumers reported strong concerns about mental health, stress and sleep, driving demand for ingredients that can support the ‘gut-brain axis’. TopGum’s new Focus Gummy is formulated to support concentration and long-term cognitive resilience. Each 3g cherry-flavoured gummy combines a blend of natural nootropics and adaptogens, including 100mg lion’s mane mushroom extract – one of the functional mushroom category’s most popular and trending ingredients due to its associated cognitive health benefits. The blend also includes 75mg Brahmi, celebrated as a ‘brain tonic’ in Ayuverdic medicine, alongside gotu kola extract to support anxiety reduction, vitamin B12 and folic acid. The gummy is sweetened with TopGum’s Gummiceuticals plant-based prebiotic fibre matrix, which enables formulation without added sugar while retaining sweet fruity flavours. Also launching is a mango-flavoured gummy, targeting eye care. Each dome-shaped gummy contains 10mg trans-lutein and 2mg zeaxanthin isomers sourced from marigold flowers. According to TopGum, its carotenoid formula is clinically backed to help protect eyes from age-related decline and modern blue light exposure. Its antioxidant ingredients were chosen to support macular health, aiming to help reduce oxidative stress in retinal cells and support long-term visual acuity. Meanwhile, a peach-flavoured saffron gummy, containing 40mg of saffron extract plus prebiotic fructo-oligosaccharide fibre from chicory root, is formulated to help support emotional wellbeing and stress management. Another offering taps into the rising demand for creatine, a segment of the active nutrition market that has seen a huge boom over the past couple of years, with growing innovations targeting the longevity market as awareness of age-related muscle decline grows. The Creatine Pro gummy is available in a raspberry flavour, containing 1.5g of creatine monohydrate, targeting improved mental clarity as well as physical vitality – new research is increasingly linking creatine supplementation to brain health benefits. Other compositions in the collection include a functional mushroom complex gummy featuring a blend of cordyceps, reishi, lion’s mane, turkey tail and six other varieties, and a B12 gummy with 1000mcg of methylcobalamin – a highly bioavailable, active form of the vitamin vital for nerve health and function. Eyal Shohat, CEO of TopGum, said: “Longevity is changing the way we think about cognitive and visual wellness, as these are often the first systems that tend to decline with age. Longevity for many is not just about extending life span but maintaining wellness and independence. Consumers are actively seeking natural ways to maintain mental fitness and stay active.” Jennifer Toomey, head of new product development at TopGum, noted the traditional challenges associated with formulating complex botanical blends into gummy formats. “This is precisely TopGum’s speciality,” she said. “We excel in turning complex supplementation protocols into simple, enjoyable and flavourful daily habits that entail no stress or preparation and drive long-term engagement.”

Kellogg’s is expanding its partnership with children’s entertainment brand Bluey with the launch of a new range of non-HFSS multigrain snack bars in the UK. Rolling out across major retailers including Tesco, Asda and Morrisons from the end of July, the new bars are designed to offer a high-fibre snacking option for families while combining wholegrain oats and crispies for a mix of crispy and chewy textures. The range will launch in two flavours: Chocolate and Strawberry & White Chocolate. The Chocolate variant includes milk chocolate chips, while the Strawberry & White Chocolate bar contains fruit pieces and white chocolate chips. Each pack contains four bars and has a recommended retail price of £1.75. The launch follows the success of Kellogg’s Bluey Multigrain cereal, which the company said became its best-performing new product development in 2025 before winning Product of the Year 2026. The new bars extend the partnership into the snacking category and aim to provide retailers with an option for additional family snacking occasions. Holly Wright, senior brand activation manager at Kellogg’s, said: “We know parents are often looking for snacks that strike the right balance between taste and nutrition, especially as children grow beyond the toddler stage and choices become less clear. Bluey Snack Bars are designed to meet that need, offering a non-HFSS option that doesn’t compromise on taste or fun.”

A group of industry organisations – including Ripple Foods, Royal FrieslandCampina, Tetra Pak, SPX Flow and HP Hood – has issued guidance for manufacturers and ingredients suppliers, based on new research into managing bacterial spore growth in dairy alternative beverages. The collaboration involves food research organisation Nizo, which has endorsed the new guidance, as well as HAS Green Academy, Wageningen University & Research and 11 industry partners. Named the Plant Protein Contaminants Consortium Project, its aim was to address critical knowledge gaps related to microbial safety and spoilage risks associated with plant-based ingredients used in the production of alt-dairy beverages. Formulating low-acid plant-based beverages that are distributed in a shelf-stable format presents various critical food safety challenges that must be addressed as the market for these products grows, the consortium said in a statement. The new research focused on understanding the occurrence, heat resistance and growth behaviour of microbial contaminants, particularly spore-forming bacteria, in plant-based ingredients such as pea, oat, almond, faba bean and coconut. It highlighted considerable variation in microbial contamination levels between ingredient types and even between samples from the same ingredient source, underscoring the importance of thorough risk assessment and ingredient specifications. The results showed no evidence of previously unknown or unusually resistant microorganisms. However, the consortium warns that some identified species could cause product spoilage or food safety concerns if not adequately controlled through ingredient selection, processing and storage management. Soon to be published in peer-reviewed scientific journals, the research aims to support the development of improved methods for detecting and enumerating spore-forming bacteria in plant-based ingredients, as well as improved understanding of conditions that enable or prevent spore germination and growth in dairy alternatives. The research provides insights into the heat resistance of spores and their ability to survive food processing. Based on the findings, the alliance recommends that plant-based ingredients suppliers take special care to monitor bacterial spores, including highly heat-resistant spores of thermophilic bacteria (HRTS) and Bacillus cereus. This guidance aims to help achieve more streamlined verification of incoming ingredients at the customer level and support companies in making more informed food safety decisions while accelerating product development. Fred van de Velde, chief scientific officer at NIZO, said: “Food safety is a shared responsibility. This project demonstrates the power of collaboration between industry and knowledge institutions. By sharing insights and establishing a common scientific foundation, we can help the sector develop safe, high-quality and sustainable plant-based products while reducing food waste.”

Philadelphia has introduced a lactose-free version of its cream cheese, aimed at consumers who experience difficulty digesting lactose. According to the Kraft Heinz-owned brand, it is the first major US cream cheese label to launch a lactose-free product. Made with fresh milk and cream, the product uses the lactase enzyme to break down lactose and make it easier to digest. It contains no added preservatives, flavours or colours. The launch follows more than two years of product development and is designed to offer the same taste and texture as Philadelphia’s original cream cheese. It can also be used as a direct one-to-one substitute in recipes, including cheesecakes, pasta dishes, dips and spreads. The new variety will be priced in line with the brand’s original block cream cheese. Philadelphia said the launch forms part of Kraft Heinz’s wider strategy to update its established brands in response to changing dietary needs. Maddy Zingle, VP of marketing at Philadelphia Cream Cheese, said: “For too long, many lactose-intolerant consumers have had to miss out on cream cheese and some of the foods they love most". "Philadelphia Lactose Free changes that. From a perfectly schmear-ed bagel to a homemade cheesecake, fans can once again enjoy their favorite recipes without sacrificing the rich, creamy taste they expect from Philadelphia. It also opens the door to new creamy possibilities in the kitchen, transforming any dish from good to Really Philly Good.” The lactose-free dairy market is projected to be worth almost $28 billion by 2033, driven by growing demand from consumers seeking dairy products that are easier to digest. Philadelphia Lactose Free will be available from major retailers across the US from August.

Canadian superfood brand Organic Traditions has closed a $10.5m Series A funding round to support its expansion across the US and accelerate product innovation. The round, valued at $15m CAD, was backed by strategic angel investors with experience across consumer packaged goods, retail, technology and operations. Investors include executives and operators from FreshPet, Shopify, City National Bank, Frito-Lay and Colgate-Palmolive. The funding marks the next stage of growth for the family-founded business, which second-generation CEO Ally Mamalider leads. The company plans to use the capital to expand its US retail presence, grow its eCommerce business, advance innovation across its Fiber Flow platform and invest in its team and infrastructure. Founded more than 25 years ago by Jerry Zeifman, Organic Traditions has developed a portfolio spanning functional lattes, mushroom coffees, daily greens, fibre smoothies and other superfood products. The brand draws on traditional wellness practices, including Ayurveda and cacao rituals, while developing products designed to support areas such as energy, immunity, gut health and sleep. CEO Ally Mamalider said: “More than two decades, the brand has been rooted in the belief that real food can be transformative. This investment allows us to reach more consumers, scale the areas where we see the greatest opportunity, and continue making superfoods simple and accessible.” Under Mamalider’s leadership, the company has achieved 70% revenue growth over the past three years, driven by product innovation, digital expansion and brand development. Organic Traditions is projecting 36% revenue growth across Canada and the US over the next 12 months. This includes projected growth of 82% across US retail and 64% across eCommerce. The company also plans to expand into more than 1,500 additional US retail locations this year. A key focus of the company’s innovation strategy is Fiber Flow, a daily stick-format product designed to address low fibre intake. Each serving contains 8g of fibre alongside prebiotics and probiotics, with zero sugar. The range launched at Costco Canada earlier this year and sold out three times during its first two weeks online. Organic Traditions expects the Fiber Flow platform to grow by more than 200% over the next 12 months, with further product extensions and clinical trials planned. Walter N. George, president of OT Investors LLC, said: “Organic Traditions is meeting a clear consumer need at the intersection of functional nutrition and convenience. The brand has built meaningful trust with consumers over decades while also proving it can innovate quickly and scale across modern retail and digital channels.” Organic Traditions’ portfolio also includes its Probiotic Matcha Latte and Focus Fuel Mushroom Coffee. The brand is currently available across more than 6,000 retail stores in Canada, as well as retailers in the US including Erewhon, Fresh Thyme, Earth Fare, MOM’s Organic Market, Jewel-Osco and Better Health. Its products are also sold online through Amazon and its own website.

US dairy brand Nurri has expanded its portfolio with the nationwide launch of its new Ultra-Filtered Protein Milk, now available at Walmart stores and online. The new multi-serve dairy beverage delivers 20g of complete protein per serving and is lactose-free. Made with Grade A ultra-filtered milk, the product is designed to retain the creamy taste and texture associated with traditional milk while offering higher protein and less sugar. Nurri said its proprietary ultra-filtration process enables the product to provide one of the highest protein levels currently available in the ultra-filtered milk category. The milk is positioned for use across a range of everyday occasions, including breakfast, post-workout nutrition, smoothies, coffee, baking and cereal. Adam Tollefson, director of the Nurri Business Unit, said: “Milk is already trusted and nutrient-rich, and Nurri Ultra-Filtered Protein Milk builds that foundation by providing even more protein and less sugar. It's innovation to deliver on what today's families are looking for: great-tasting nutrition that better aligns with their needs.” The new line is available in four varieties: 2%, Whole, Chocolate and Vanilla, available at Walmart stores nationwide and through Walmart.com. Nurri's portfolio also includes its 30g Protein Ultra-Filtered Milk Shakes and Nurri Kids 10g Ultra-Filtered Protein Beverages.

US President Donald Trump has announced plans to impose 50% tariffs on most Canadian goods, including wine, cheese and other food and beverage products, escalating trade tensions between the two neighbouring countries. The White House said the tariffs were being introduced in response to what it described as Canada’s unfair discrimination against US products, including American cars, alcohol and dairy. The new tariffs are set to come into effect in 30 days, leaving a window for further negotiations between the US and Canada. A wide range of Canadian goods will be affected, with the measures also applying to some products previously protected from import duties under the United States-Mexico-Canada Agreement (USMCA). However, energy products, fish, critical minerals and potash will be excluded from the new tariffs. Goods already subject to tariffs introduced on national security grounds, including steel and aluminium, will also be exempt. The proclamation signed by the Trump administration states that Canada discriminates against US automobiles, alcohol and cheese compared with other countries. However, much of the argument is based on retaliatory measures introduced by Canada after the US imposed its own tariffs, initially citing concerns over fentanyl smuggling. It also cited restrictions on the sale of US alcoholic beverages, with all but two Canadian provinces and territories having stopped selling American alcohol while not imposing similar restrictions on products from other countries. Trump also criticised Canada’s treatment of US cheese, claiming that the country discriminates against American dairy products compared with European imports. Canadian Prime Minister Mark Carney said the country had already made comprehensive proposals to resolve trade disputes with Washington, arguing that previous US tariffs had violated the countries’ trade agreement. The latest measures are expected to increase concerns over inflation and economic disruption, while further straining relations between two economies that have historically been closely integrated. The new tariffs could also carry political risks for Trump ahead of the November midterm elections, which will determine control of Congress. His so-called ‘Liberation Day’ tariffs introduced last April triggered significant financial market turmoil amid concerns over inflation and recession, before the administration temporarily reduced some rates to allow for negotiations. The administration has also been forced to seek alternative legal routes for imposing tariffs after the Supreme Court ruled in February, in a 6-3 decision, that Trump had unlawfully used emergency executive powers to introduce global tariffs. The US has so far been ordered to repay $81 billion in tariffs during the current fiscal year, adding further pressure to the administration’s trade policy.

German snack manufacturer Intersnack Group has agreed to acquire US salty snacks producer Utz Brands in a transaction valuing the business at approximately $2.9 billion. Under the definitive agreement, Intersnack will purchase all outstanding shares of Utz’s Class A common stock for $14.25 per share in cash. The offer represents a premium of approximately 91% to Utz’s closing share price on 20 July 2026. Following completion, Utz will become a privately held company jointly owned by Intersnack and the Rice and Lissette family entities, with each holding a 50% stake. Utz’s shares will subsequently be delisted from the New York Stock Exchange. Founded as a German potato chip producer in 1968, Intersnack has developed into a multinational savoury snacks manufacturer with operations across Europe and Oceania. The deal will provide the company with its first presence in the US snack market. Johan van Winkel, executive chairman of Intersnack Group, said the transaction represented an opportunity for the company to expand into the “large and attractive” US market. “We have long admired Utz’s brands, its heritage and the strength of its team,” he added. “Together with the Rice and Lissette family and Utz’s management and associates, we see a tremendous opportunity to build on Utz’s strong foundation and help shape the future of snacking in North America.” Utz, which has operated for more than a century, owns a portfolio of salty snack brands sold across the US. Chief executive Howard Friedman said Intersnack’s experience in brand development, innovation, manufacturing and technology would support Utz’s continued growth strategy. Dylan Lissette, chairperson of the Utz board, described Intersnack as a “like-minded partner” with a similar family-owned heritage and a long-term approach to investment. The agreement follows a review led by a special committee of independent Utz directors after Intersnack expressed interest in taking the company private. The committee evaluated the proposal alongside other possible alternatives before unanimously recommending the deal to the board, which also approved it unanimously. The acquisition will be financed through approximately $920 million in cash from Intersnack, a new $1.1 billion term loan facility and borrowings under a $250 million asset-based lending facility. The financing package will also include equity rolled over by the Rice and Lissette family and the reinvestment of part of the proceeds from a $44 million tax receivable agreement settlement. The Rice and Lissette family, Dylan Lissette and certain affiliates have agreed to vote shares representing approximately 42% of Utz’s common stock in favour of the transaction. The deal is expected to close in the fourth quarter of 2026, subject to regulatory clearance and shareholder approval. Once completed, Dylan Lissette will become executive chair of Utz. Top image: © 2026 Utz Quality Foods

US-based rice producer Riviana Foods has expanded its pulse and whole-grain portfolio with two new gluten-free, clean-label ingredient innovations. Showcased at the IFT FIRST trade event in Chicago from 12-15 July, the ingredient lines comprise a range of instant, pre-cooked flour gels that provide cold-binding functionality and a collection of expandable extruded micro-pellets. They aim to help manufacturers achieve key formulation goals while responding to demand for high-protein, whole-grain products that support gluten-free, non-GMO, clean-label and dairy-free claims. The micro-pellets or ‘pearls’ enable formulation with consistent expansion and texture, providing a uniform surface for consistent puffing and coating while adding nutrition and supporting protein claims. They provide up to 30g of protein and 18g of fibre per 100g, making them well-suited for puffed snacks and nutritional products, including protein bars, cereals, snack mixes and more. The pearls are available in a range of pulse and whole-grain options including OryzaPearl (rice), LensPearl (lentil), CicerPearl (chickpea), MaysPearl (corn), PisumPearl (pea) and AvenaPearl (oat). Meanwhile, Riviana’s new line of ready-to-eat gels provide manufacturers with an additive-free, pregelatinised-flour texturization solution that improves texture and formulation flexibility. They deliver up to 34g of protein and up to 17g of fibre per 100g, helping brands to create nutrient-rich products while simplifying production - because they are ready to use, they can reduce cooking costs and enhance food safety by eliminating the need for an additional cooking step, Riviana said. The gels are available in rice, pea, lentil, fava bean, chickpea and corn varieties. They are suitable for a wide range of food and beverage applications including drinks, sauces, soups, snacks, ready meals, dairy alternatives, pasta, baked goods and more. Riviana is also introducing QuinoaNat quinoa flour, offering up to 14g of protein and 8g of fibre per 100g. The flour can be used to add protein and fibre to baked goods. Terry Stover, Riviana Foods’ vice president of special markets, said: “Today’s consumers are seeking foods that deliver more protein and better align with evolving wellness goals, including the needs of GLP-1 users”. “Riviana’s portfolio of pulse- and whole-grain-based ingredients helps manufacturers create products that combine protein, fibre and functionality, enabling them to meet demand for nutritious, satisfying products without compromising taste, texture or formulation performance.”