Mondelēz International  and JAB majority-owned subsidiary Maple Holdings are selling a total of 60 million shares held in Keurig Dr Pepper . Conducted through a secondary public offering, the shares will be priced at $28.45, representing a total price of approximately $1.71 billion. According to Keurig Dr Pepper, the transactions represent a major milestone in it becoming a widely held modern beverage company.  Mondelēz will sell 40 million shares, reducing its ownership stake to approximately 8.4%. This follows the sale of 12.5 million shares earlier this year for a total consideration of approximately $362.7 million. The company will continue to maintain two seats on the board. Meanwhile, Maple will sell 20 million shares for the benefit of its minority partners. Maple has also indicated that it expects to convert the final portion of its minority partners’ shares in itself into shares held directly in KDP. It will distribute approximately 119 million shares of KDP common stock – representing approximately 8.5% of KDP's outstanding common stock – to such minority holders.  Following this transaction, Maple will be renamed JAB Bevco and, through JAB Bevco, JAB and its affiliates will hold approximately 34% of KDP's outstanding common stock. Upon the completion of the sales, KDP's public float will increase to approximately 58%, as compared to approximately 13% at the time of the completion of the merger of Keurig Green Mountain and Dr Pepper Snapple Group in 2018.

Mondelēz International  has announced that it has removed 1.1 million plastic trays across its entire adult selection boxes range in UK and Ireland this Christmas. By swapping plastic trays for carboard, the confectionery giant has removed the equivalent of 33 tonnes of plastic. The move will affect boxes of Cadbury’s Classic Collection, Cadbury Darkmilk, Cadbury & Oreo, Bournville and Toblerone. The announcement marks the company’s latest move towards its vision of creating zero net waste packaging through its ‘Pack Light and Pack Right’ strategy. It follows a 15% packaging reduction of its Cadbury large share bags such as its Cadbury Giant Buttons and Bitsa Wispa. According to Mondelēz, it has already eliminated over 64,000 tonnes of packaging globally since 2013, made 100% of its paper-based packaging sustainably sourced and is on track to make all of its packaging recyclable by 2025. Louise Stigant, UK managing director at Mondelēz International, said: “Reducing the amount of packaging we put into the world, and making it easier for consumers to recycle our products, is vitally important to us. “The steps we are taking on our adult selection boxes, which follow the recent packaging reduction on our Cadbury large share bags, is an example of the varied approaches we are taking to tackle the shared problem of packaging waste.”

Cargill has announced that it is expanding its supply of segregated certified palm oil in North America to help customers meet sustainability commitments. With the move, Cargill aims to become one of North America’s first large-scale suppliers of segregated palm oil certified by the Roundtable for Sustainable Palm Oil (RSPO). The company’s new offering meets certification standards for RSPO, which verifies that forests are protected, and that social and environmental safeguards are met during the oil’s production and harvest. To carry the “segregated” certification, all products must be kept separate from commodity palm oil supplies and be traceable throughout the supply chain. The plantations and refinery facilities are RSPO certified and the RSPO ensures the palm oil is used by certified manufacturers. From December 2020, all palm oil production from the company’s Charlotte, North Carolina refinery will be solely dedicated to providing the sustainably-sourced product. By supplying North American food manufacturers with product, Cargill says the expanded supply means consumers may soon see the sustainable palm oil used in foods such as bakery, snacks, confectionery and dairy, as well as non-dairy creamers. Cargill has been supplying RSPO-certified palm oil since 2005, currently reaching customers in Europe, Mexico, Australia and Malaysia. However, the company previously offered its North American customers mass-balanced sustainable palm oil. “More than ever, brands and consumers care about the standards behind the products they buy,” said Reid Kinde, North American commercial leader for Cargill’s global edible oils business. He added: “People want assurance that the raw materials used are sourced in a sustainable, environmentally conscious way. By significantly increasing the supply of segregated certified-sustainable palm oil, we’re giving our customers and consumers’ confidence in our sourcing practices and reaffirming our commitment to supporting sustainable practices throughout our operations.”

Mondelēz International has reported a 4.9% increase in net revenue for Q3, as the company bounced back to growth in a number of markets. The owner of Cadbury and Oreo posted Q3 net revenue of $6.67 billion, beating analysts’ estimates of $6.49 billion, according to IBES data from Refinitiv, cited by Reuters. The company, which withdrew its full-year guidance in its Q1 results , forecast organic net revenue growth of 3.5% for 2020. Organic net revenue, which excludes the impact of acquisitions, divestitures and currency, rose 4.4% for Mondelēz’s third quarter ended 30 September. In Q3, Mondelēz witnessed 12.9% growth in net revenue in North America. Following a 4.9% decline in Q2 , Europe recorded a 6.3% year-over-year rise in net revenue for Q3. The region also generated the largest amount of revenue for the company overall, with nearly $2.53 billion worth of sales. Across Mondelēz's emerging markets, net revenue was down 15.6% in Q2. This moderated in the company’s third quarter to a 3.1% decline, while on an organic basis, the region bounced back to growth delivering a 5.3% increase on the previous year. Mondelēz’s Asia, Middle East and Africa unit delivered 3.6% growth in net revenue for Q3; meanwhile, Latin America witnessed a 17.1% decline (but returned to low-single-digit growth on an organic basis). “Our third quarter performance was strong across all key metrics, with broad-based revenue growth as demand remained elevated in developed markets and sequentially improved in emerging markets,” said Dirk Van de Put, Mondelēz chairman and CEO. “Our teams are executing well and we continue to deliver share gains by meeting the needs of customers and consumers, despite the uncertainties caused by Covid-19. “Our strategy remains unchanged and we are accelerating certain initiatives and increasing the investment behind our brands to further support long-term sustainable growth.”

BrewDog has reached its initial crowdfunding target of £7.5 million six weeks since the round was launched, and now aims to raise up to £50 million. The Scottish craft brewer intends to use the capital to fund the next steps in its sustainability plans. In its latest crowdfunding investment programme, Equity for Punks Tomorrow, BrewDog raised its first £1 million in less than 48 hours after it launched on 10 September. Scheduled to close on 28 January 2021, the company has announced its maximum potential raise of up to £50 million. The brewer intends to use the capital to fund projects including direct wind and solar power for its breweries, CO2 recovery, electric vehicle fleets for local collections and deliveries, as well as converting waste into energy. “As investors continue to join our thriving community of Equity Punks, it proves people believe in our ambition for the business, and want to be a part of our story,” said James Watt, co-founder of BrewDog. He added: “Announcing our carbon negative status earlier this month was the first step in ensuring that, as a business, we’re holding ourselves accountable for how our actions impact the environment. Our aim is for our business to grow while simultaneously reducing our emissions - our success won’t be to the detriment of the planet.” The company has secured over £73 million in previous crowdfunding rounds. Over 16,000 people so far have invested in what BrewDog has confirmed will be the final crowdfunding offer for the brewer.

Haribo Group has announced that it will begin construction of its first-ever manufacturing plant in the US, with the company stating that it will invest over $300 million in the project. The new manufacturing site will be located in Pleasant Prairie, Wisconsin, and Haribo has chosen Gilbane Building Company as the general contractor for the construction project. Construction of the 136.8-acre facility is to begin "as soon as possible" in 2020, and Haribo claims that the construction of the new site represents the 'largest project in its history'. A statement from the company claims that the new production plant will amplify Haribo's ability to produce confectionery products for US customers and consumers, enhancing speed and production efficiency. Hans Guido Riegel, managing partner of the Haribo Group, added: "The strategic decision to build a manufacturing facility in North America is of great importance to the Haribo Group, and we are thrilled to take this next important step in the process. "Haribo is the fastest growing confectionery brand in the US, and our production facility will support continued long-term growth while also allowing us to be part of the Pleasant Prairie community. "Our customers and consumers in the US expect us to deliver the Haribo products they love quickly and reliably. With the new plant, we are living up to this responsibility." Wes Saber, chief financial officer, Haribo of America, said: "Haribo will invest well above $300 million in our state-of-the-art facility, the largest project in our 100-year history. "In addition to that investment, we're going to create up to 385 direct Haribo jobs in phase one of our build and up to 4,200 indirect jobs upon completion of our full build as per an independent economic study."

Walmart has agreed to sell UK grocery chain Asda to the Issa brothers and private equity firm, TDR Capital, for an enterprise value of £6.8 billion. The consortium was rumoured as the preferred bidder for Asda by Sky News earlier this week. Walmart has been weighing what to do with Asda since a proposed merger with Sainsbury was blocked by the UK competition authority two years ago. The long-awaited sale of a controlling stake in Asda sees it return to majority British ownership for the first time since 1999, when Walmart paid £6.7 billion for the business. The UK retailer will be offloaded to Mohsin and Zuber Issa, founders and co-CEOs of EG Group – a global convenience and forecourts retailer – and investment funds managed by TDR Capital. They will join together to acquire an equal majority ownership stake in Asda, while Walmart will retain an ongoing equity investment in the business, a seat on the board and will remain a strategic partner. In the filing, Walmart said the deal will include a £1 billion cash injection in the next three years to help ensure Asda's prices remain low and to further strengthen the business and its supply chain. With their experience at EG Group, Issa Brothers are also described as being well placed to support Asda in expanding its presence into convenience retail stores. New co-owners of Asda, Mohsin and Zuber Issa, said: “We believe that our experience with EG Group, including our expertise around convenience and brand partnerships and our successful partnership with TDR Capital, can help to accelerate and execute that growth strategy. "After a successful period as part of Walmart we are looking forward to helping Asda build a differentiated business that will continue to serve customers brilliantly in communities across the UK.” Following completion of the deal, the existing Asda management team will continue to drive the business' growth strategy with ongoing access to Walmart’s global sourcing scale and innovation. The retailer will remain headquartered in Leeds and will continue to be led by CEO Roger Burnley who will form part of Asda’s board alongside representatives appointed by the Issa brothers, TDR Capital and Walmart. Judith McKenna, president and CEO of Walmart International, added: “We are delighted to be able to announce this deal today, which we believe creates the right ownership structure for Asda, building on its 71 year-heritage, whilst bringing a new entrepreneurial flair, not only to Asda, but also to UK retailing.” The transaction, which is subject to regulatory approval, is anticipated to close in the first half of 2021.

Arla Foods Ingredients has released its first organic ingredient: an organic micellar casein isolate ingredient which is suitable for functional food products and active nutrition applications. Called MicelPure Organic, the ingredient is extracted from organic milk using gentle processing methods without the addition of acids. According to Arla, this process maintains the chemical structure of the ingredient, allowing the creation of products that are "as close to nature as possible". The company claims that the ingredient contains a minimum of 87% native protein, while it is low in lactose and fat, is heat-stable and is taste-neutral. The ingredient can be utilised in food applications such as cheeses, yogurts, ice creams, and also for beverages such as ready-to-drink high-protein beverages and powder shakes. According to research conducted by Lindberg International in 2019, one in three European consumers stated that they would buy more organic, high-protein snacks if they were available. Meanwhile, the research claims that “healthy” and “natural” are two of the most important characteristics for consumers of food products, and Arla Foods Ingredients claims that the MicelPure ingredient has been released to help manufacturers cater to these growing consumer trends. Barbara Jensen, business development manager at Arla Foods Ingredients, said: “When consumers hear ‘organic’, they think healthy, sustainable and wholesome. "However, a shortage of natural, organic protein ingredients has prevented many manufacturers from entering this market. MicelPure Organic fills the gap, allowing companies to extend their portfolios with products that are both organic and packed with high-quality protein.” Joe Katterfield, business development manager for sports nutrition and health foods at Arla Foods Ingredients, added: “Protein’s benefits for muscle growth, recovery and weight management have driven consumer demand in a range of categories. "But while the high-protein trend is definitely here to stay, manufacturers also have to meet many other needs. MicelPure combines high protein levels and functionality with an offer of healthy wholesomeness that increases appeal.”

Celsius Holdings, maker of Celsius fitness drinks, has entered into an agreement providing for an investment of $22 million. The deal, with an Asian private equity firm and a global institutional investor, is expected to close on or around 25 August 2020. In the placement transaction, Celsius Holdings will sell a stake in the company and various affiliates will do likewise. Celsius Holdings says that the affiliate sales will represent a minority divestiture from its long-term strategic partners to facilitate this investment. The transaction will be effected pursuant to an exemption from registration afforded by Regulation S under the Securities Act of 1933. “The injection of funds will allow us to eliminate our outstanding bonds incurred in connection with our October 2019 acquisition of Func Food Group Oyj, which bonds are due in October 2020, and provide working capital enabling Celsius to maximise the significant growth opportunities in both domestic and global markets,” said John Fieldly, Celsius Holdings president and CEO. Tony Lau of Horizons Ventures, co-chairman of Celsius Holdings, added: “Horizons Ventures and affiliated partners seek to invest in companies with exceptional management teams which are positioned to disrupt categories and Celsius has already established the company as a leader in the rapidly emerging functional energy beverage category. “Consumers are striving for healthier drink options which is a common trend on a global scale, and we are confident that Celsius is well positioned as an energy drink that not only tastes good but is a true differentiator in the category, a unique and attractive offering which any consumer around the world can relate and benefit from.” Celsius also announced its expansion into gasoline and convenience store chain, Speedway. The initial rollout, starting at the beginning of the fourth quarter of 2020, will reportedly introduce two SKUs to 2,700 stores. Earlier this year, Celsius expanded its portfolio of functional beverages with a new jackfruit flavour, alongside updated packaging, for its Heat range.

PepsiCo Beverages North America has inaugurated a new $14.5 million sales and distribution centre in Indianapolis, which it claims unlocks new distribution routes and capabilities. Located on the southeast side of Indianapolis, the facility spans 200,000 square feet and features new technology and delivery systems that allow for new chilled, direct-to-store delivery. According to PepsiCo, the new technology will help unlock 150 new routes for delivery which will enhance its service to customers in the region and reduce transport miles, and in turn, its overall carbon footprint. The announcement comes after PepsiCo launched two online direct-to-consumer stores in the US, allowing consumers to order a range of PepsiCo snack and drink products directly from the company, during the Covid-19 pandemic. The custom-built facility, which is said to have created 30 new jobs, joins 15 other PepsiCo manufacturing and distribution locations in Indiana. The $14.5 million investment by Scannell Properties, will be leased by P-America LLC, a subsidiary of PepsiCo Beverages North America, for a period of 10 years. “The innovative new facility will be instrumental in our path to continued growth for our business and our customers’ business in Indiana,” said Richard Tompkins, president of PepsiCo Beverages North America’s north division. Indianapolis Mayor Joe Hogsett added: “We applaud PepsiCo’s announcement today, including the impact it will have on Indianapolis through the creation of new jobs and expansion of their local footprint." PepsiCo has also announced a $30,000 grant to the Gleaners Food Bank – Feeding America Program in Indiana, as part of its continued efforts to support those impacted by Covid-19.

Symrise has partnered with Kellogg Company in a three-year project in Madagascar that aims to responsibly source 100% of Kellogg’s vanilla by 2020. The partnership builds on the announcement in 2019 that Kellogg joined the “Symrise and Friends” family of private sector partners, which work together to deliver benefits for the vanilla faming communities and the biodiverse environment in which they live. The joint venture will provide ongoing engagement and training for over 1,000 smallholder vanilla farmers in Ankavanana, Madagascar, as the companies aim to improve their livelihoods and protect their environment. Through working closely with the farmers, the companies aim to teach good agricultural practices and budget/cash flow management. According to Symrise, this will empower farmers to run their farms in a sustainable way and be more financially resilient in a volatile market. “The programme drives impact directly at the source of vanilla farming via our integrated supply chain,” said Yannick Leen, global competence director vanilla at Symrise. He added: “The partnership highlights the value of our active and collaborative year-round presence in this unique region. In turn, it ensures the highest quality vanilla, brings certainty and creates shared value for farmers, as well as ensuring sustainability of supply.” Symrise’s approach also includes training and education within the communities and the introduction of alternative crops such as patchouli, vetiver and ginger. This is said to add diversity and mitigate risk. As part of the joint project, Kellogg is said to bring extensive experience of Climate Smart Agriculture. Kellogg Company chief sustainability officer, Amy Senter, said: “Responsibly sourcing our ingredients means making a difference from the very start. That’s why we’re working closely with the farmers who grow them. “Farmers like those in Madagascar aren’t just growing vanilla for people around the world, they’re cultivating healthy soils, diverse ecosystems and strong communities. And across Kellogg, we want to help them do even more.”

Scottish craft brewer BrewDog has launched a new limited-edition Punk IPA in partnership with two UK dog charities, as it aims to secure more homes for canines. The brewer’s latest commitment to support charities will see its Punk IPA transformed and renamed for a short period to Street Dog. Each 330ml can will showcase profiles of dogs currently in the care of Dogs on the Streets and All Dogs Matter, with the intention of finding them new homes. The collaboration was inspired by comedian and advocate for homeless canines, Ricky Gervais, following his ‘shout out to BrewDog’ on Twitter earlier this month as he urged businesses to donate to charity. James Watt, co-founder of BrewDog, said: “At BrewDog we are always looking for ways to use our business to do good. When Ricky tweeted us with a genuine endorsement for Punk IPA, we wanted to use our platform to donate to causes he’s passionate about. “We then decided to take it one step further and not only donate the profits from our Street Dog cans, but give our pawsome four legged friends over at Dogs on the Streets and All Dogs Matter, space on our cans to help them find forever homes.” 100% of all the profits generated from the sales of Street Dog will be split evenly between the two charities. Ira Moss, founder of All Dogs Matter added: “We have seen a big loss in income due to the ongoing pandemic, so we are thrilled that BrewDog is helping raise awareness of our work through this collaboration. "Sadly, there are many unwanted and abandoned dogs needing homes across the UK and this campaign is a creative way of highlighting the importance of adoption instead of buying a dog.” Street Dog is available to pre-order in packs of 12.