Québec-based Prime Drink Group has signed a binding letter of intent to acquire Prime Capital Investments, owner of the Beach Day Every Day ready-to-drink beverage brand, in a transaction valued at CAD $10 million, approx. $7,203,500. The deal remains subject to due diligence, financing, shareholder and regulatory approvals, as well as the negotiation of a definitive purchase agreement. Founded in 2020, PCI produces, bottles and sells both alcoholic and non-alcoholic beverages. The company has expanded its presence through Québec's SAQ retail network and has also begun growing Beach Day Every Day's distribution footprint across the rest of Canada and the United States. For the year ended November 30, 2025, PCI reported unaudited, non-IFRS annual royalty revenue of CAD $2.1 million (approx. $1,512,724) and adjusted EBITDA of CAD $1.2 million (approx. $864,354). Prime Drink Group said the acquisition would add a premium, fast-growing brand to its beverage portfolio while giving the company exposure to BDED's expansion beyond its home market. Jean Gosselin, chief financial officer of Prime Drink Group, said: “The acquisition of Beach Day Every Day, a leading brand in the Québec ready-to-drink beverage market, was very attractive for Prime. Notably, this acquisition will enable Prime to add a premium, fast-growing brand to its portfolio.” He added that Prime expects to benefit from the brand's recent expansion activities in the wider Canadian and US markets. The transaction reflects continued interest in the RTD category, where established beverage companies and emerging brands are seeking opportunities to build scale through portfolio expansion and geographic growth. Under the proposed terms, Prime will pay C$10m for all issued and outstanding shares of PCI. The proposed acquisition will also require Prime to complete a minimum CAD $4 million concurrent non-brokered private placement. The financing will comprise units priced at CAD $0.05 each, with every unit consisting of one common share and one warrant exercisable at CAD $ 0.10 for two years. Prime said the proceeds will be used partly to finalise an agreed settlement with creditors, fund a portion of the cash consideration for the acquisition and support general working capital. Prime expects to complete due diligence on PCI by October 15, 2026. Other conditions include the delivery of audited financial statements for PCI's two most recently completed fiscal years, an independent valuation report and approval from the Canadian Securities Exchange. The transaction is classified as a major acquisition under CSE policies and will require exchange approval. However, the company said it does not expect the deal to result in a change of control. Because certain directors hold positions across Prime, PCI and Prime Affichage, the transaction is also expected to be treated as a related-party transaction under Canadian securities rules. Prime said it expects the transaction to qualify for exemptions from formal valuation and minority shareholder approval requirements. There is no assurance that the proposed acquisition will close.

General Mills has completed the removal of certified colours from its entire US cereal portfolio, marking the latest step in the food company's wider effort to reformulate products in response to changing consumer preferences. The Minneapolis-based manufacturer said all of its cereals sold in the U.S. are now made without certified colours, including brands such as Lucky Charms and Trix. The milestone fulfils a commitment the company had set for summer 2026. It follows General Mills' announcement in March that it had removed certified colours from all of its K-12 school food products. Bethany Quam, president of Big G Cereal at General Mills, said: “This achievement reflects how we are evolving with consumer needs while continuing to offer food that tastes great, delivers quality and provides value.” The cereal milestone means approximately 90% of General Mills' US retail portfolio has now completed the transition away from certified colours, according to the company. The remaining work will include categories such as fruit snacks and baking products, with General Mills targeting the removal of certified colours across its full U.S. retail portfolio by the end of 2027. The initiative forms part of a broader product innovation strategy centred on shifting nutrition preferences. General Mills said it expects to launch more than twice as many new products aligned with evolving consumer nutrition preferences during the current fiscal year compared with two years ago. That pipeline includes products with higher levels of protein and fibre, as well as foods featuring ingredients that consumers may view as more familiar and recognisable. The reformulation of major cereal brands also illustrates the technical and commercial challenge facing large food manufacturers as they seek to respond to changing expectations around ingredients without compromising the taste, appearance and brand recognition of long-established products. General Mills generated $18bn in net sales in fiscal 2026 and markets brands including Cheerios, Nature Valley, Blue Buffalo, Häagen-Dazs, Old El Paso, Pillsbury, Betty Crocker and Annie's. The transition to certified colours across the whole portfolio is set to be completed in 2027.

Land O’Lakes is expanding its cheese portfolio with the launch of Land O'Lakes Snack Cheese Cubes as consumers head into the back-to-school season, with the company positioning the new offerings around convenience for lunchboxes, after-school snacking and everyday meals. The new Land O Lakes Snack Cheese Cubes are available in three varieties: Colby Jack, Pepper Jack and Extra Sharp White Cheddar. Designed as single-serve snacks, each package contains eight 1-ounce packs of bite-sized cheese cubes. The products have an MSRP of $5.99 and are now available at key retailers across the Northeast, including Stop & Shop, Price Chopper and Giant stores. Heather Anfang, EVP and president of dairy foods at Land O’Lakes, said: "As consumers increasingly seek convenient, high-quality foods that fit today's busy lifestyles, we're focused on delivering products that make every eating occasion more enjoyable." The company says the Snack Cheese Cubes are currently rolling out across the Northeast, while Deli American is expanding into select Kroger locations nationwide.

Ben & Jerry’s has appointed three new independent directors to its board, bringing expertise in civil rights, racial and economic equity, environmental justice and free speech to the ice cream maker’s distinctive governance model. Nora Benavidez, Michael McAfee and Eva Schulte have joined the company as I Class Directors, effective this month. The appointments are intended to help safeguard and advance Ben & Jerry’s three-part mission, which combines product quality, economic sustainability and social impact. The move comes as the Vermont-based brand continues to position its governance structure as a central component of its values-led business model. The new appointments follow the removal of three board members in December 2025, who became ineligible to serve, after the brand's parent company announced changes to the structure of the board. The Magnum Ice Cream Company (TMICC) established a nine-year term limit for board members, with any director who has served longer than this period becoming ineligible for annual re-election in 2026. Ben & Jerry’s says its independent directors play a specific role in protecting the social mission and integrity of the brand, while providing external expertise, constructive challenge and connections to the communities and movements in which the company is active. Jochanan Senf, CEO of Ben & Jerry's, said: “Our growth and strength connect directly to social impact, all whilst making delicious ice cream. These directors understand that and will help us make it even more future-proof.” Benavidez joins the board from Free Press, where she serves as senior counsel and director of digital justice and civil rights. A civil rights and free speech attorney, litigator and legal strategist, she has worked at the intersection of law, technology and democracy for more than a decade. Her previous work includes leading PEN America’s national free speech agenda and developing programmes focused on disinformation and attacks on free expression. Her current work spans digital civil rights, privacy and free speech. “Freedom only means something if we are willing to defend it when speaking out is difficult or comes with consequences,” Benavidez said. “Ben & Jerry's has such an exciting role to play, leading with intention and integrity to stand with communities and movements when the easier choice might be to stay silent.” Michael McAfee, CEO of PolicyLink, brings experience in racial and economic equity, community development and public policy. During his career, he has worked on initiatives spanning neighbourhood investment, affordable housing, job creation and corporate racial equity. McAfee said businesses have significant influence over how opportunity and investment are distributed. “Businesses have real power to shape opportunity, investment and outcomes for communities,” he said. “On the board, I want to ask hard questions about who benefits from the company’s decisions and where its business can create greater opportunity.” The third appointment, Eva Schulte, is executive director of Friends of the San Juans. Her career has focused on the intersection of environmental protection, community health, economic opportunity and social justice. Schulte has worked on initiatives involving endangered species protection, shoreline restoration and industrial development, while her broader experience includes impact investing, partnerships with Tribal Nations and Indigenous communities, and board governance. She currently serves on the executive committee of the Sierra Club Foundation. “The company’s long-term commitment to environmental and social justice and standing with communities affected by environmental harm aligns closely with the work I’ve spent my life advancing,” Schulte said. Unlike many food and beverage companies, Ben & Jerry’s operates with a governance structure specifically designed to protect its social mission over the long term. The company’s I Class Directors are intended to provide independent oversight and ensure that the principles on which the brand was founded remain embedded as the business evolves. The appointments followed what the company described as a thorough selection process conducted with the support of a B Corp-certified executive search firm. Candidates were assessed on leadership and governance experience, alignment with Ben & Jerry’s mission and values, and the perspectives they could bring to issues central to the company’s business model. The three new directors will work alongside Senf and the company’s leadership team as Ben & Jerry’s continues to pursue that model. “Welcoming Nora, Michael and Eva to the board is a big moment for Ben & Jerry’s,” Senf said. “We need to keep showing up, keep listening and keep using the strength of our business and our voice to stand with communities that too often go unheard.” The company also said it remains committed to funding grassroots movements and progressive change through a future grantmaking structure. Ben & Jerry’s plans to announce a new organisation that will maintain the financial commitment of its previous foundation model, with a governance framework focused on independence, transparency and long-term resilience. With operations spanning more than 40 countries, Ben & Jerry’s remains one of the food industry’s most prominent examples of a brand seeking to formalise social and environmental objectives within its corporate governance structure, and the appointment of Benavidez, McAfee and Schulte signals a renewed effort to strengthen that approach for the future. The appointments come after a federal judge dismissed major portions of a lawsuit concerning governance, brought by Ben & Jerry’s against its former parent company, Unilever. The legal dispute continues.

The Clif brand is entering the high-protein snack bar category with the launch of its first-ever Clif High Protein Bar, combining 20g of protein with carbohydrates from ingredients including rolled oats to provide both protein and everyday energy. Developed in response to growing consumer demand for protein-rich snacks, the new range is made with ingredients including rolled oats, nut butters, almonds, soy and whey protein. Each bar also contains 5g of fibre and contains no artificial sweeteners. Joe Pellingra, senior director of the Clif and Luna brands at Mondelēz International, said: “Consumers are looking for protein-rich snacks to help fuel their busy lifestyles, and the Clif brand saw the opportunity to build on our energy bar portfolio with an innovation that offers a unique duality: 20 grams of protein with everyday energy." The new Clif High Protein Bars will debut in two flavours: Peanut Butter Chocolate Chip and Cinnamon French Toast. Peanut Butter Chocolate Chip combines sweet and savoury flavour notes, while Cinnamon French Toast takes inspiration from the classic breakfast dish and incorporates almonds and almond butter. According to the company, the products were developed using consumer research and tested with consumers to refine their flavour profiles. “Not only is this new bar innovation created from consumer research insights, but it was tested with consumers to ensure we achieved delicious flavour profiles,” Pellingra added. The bars will be available at retailers across the US from August 2026, with a suggested retail price of $7.49 for a four-count box.

Mountain Dew and Trolli are teaming up once again with the launch of Mountain Dew x Trolli Mango Pineapple Punch, a limited-edition soda designed to pair tropical fruit flavours with the heat and chew of Trolli Spicy Crawlers. Available in the US from 24 August through October, the new carbonated beverage combines mango and pineapple flavours with a hint of strawberry. It will be sold in Regular and Zero Sugar varieties in bottles and cans at US retailers, while participating Pizza Hut locations nationwide will offer the Regular version in 20oz bottles. The launch builds on last year's Mountain Dew x Trolli Cherry Lemon collaboration, which the brands said became one of the fastest-selling products in the Mountain Dew portfolio. Michael Smith, VP of marketing, Mountain Dew, PepsiCo Beverages US, said: “Last year's Mountain Dew and Trolli collaboration showed just how much excitement there is when two iconic brands come together in an unexpected way." Smith added: “This year, we're taking that idea even further with a sweet-and-spicy flavour twist that taps into a growing consumer trend while delivering the bold, one-of-a-kind experience fans expect from both brands.” The latest collaboration has been developed specifically to complement Trolli Spicy Crawlers, with flavour notes intended to evoke the gummy candy. The pairing brings together the soda's sweet and tropical profile with the spicy and sour characteristics of the candy. Chad Womack, marketing director at Trolli, said, “Trolli is all about pushing the boundaries of what a sour gummy candy can be, so what better way to show consumers more ways to enjoy Trolli Spicy Crawlers than by pairing it with the bold, new fruit-forward Mountain Dew soda." The collaboration reflects continued experimentation with contrasting flavour profiles in the beverage and confectionery categories, as brands look to combine sweet, sour, spicy and tropical notes in new cross-category product experiences.

It’s easy to get caught up in the news and activities of the industry’s global giants, but what about the smaller firms pushing boundaries with bold ideas? In this instalment of Start-up of the Month – which celebrates small businesses and earlier-stage companies' innovations – we speak to Naomi Partridge, co-founder of Holos Kombucha, a handcrafted kombucha brand centred around campaigning for social change. Can you tell us a bit about Holos Kombucha, its journey and the mission behind the company? Holos is Brewed For Good – we brew authentic, award-winning and gut-friendly drinks whilst supporting survivors of exploitation and trauma through paid work placements and grants via our charity, The Holos Foundation. Our journey started with a life-changing moment in Cambodia, where co-founder Megan and I met whilst volunteering with women being exploited on the streets of Phnom Penh, and we saw the power of employment in helping them find freedom, for good. We decided to start Holos to create these kinds of safe, supportive work opportunities for the 120,000 people in exploitation in the UK. Kombucha became our social impact vehicle, and alongside our co-founders and husbands Tom and Joseph, our journey officially began in 2018. We brew our organic drinks in West Sussex, and are now stocked in Waitrose, Whole Foods, Selfridges, Ocado, Amazon, healthy wholesalers, independents and beyond. How did you navigate building a brand within the competitive functional beverages space? We are still learning how best to navigate this highly competitive and quickly evolving space. There is a real nuance to the balance of staying true to what makes you unique as a brand, including your founder story, your product and positioning, whilst responding to emerging consumer trends and the competitor landscape. Our big wrestle has always been about how we manage our messaging hierarchy – between our social impact and our product. We believe we’ve landed on the right direction with something far more focused on the theme of GOOD – both feeling good and doing good. A shout-out to Brand Growth Heroes Mini MBA, Fi Fitzpatrick and all sponsors for the transformative coaching support that helped us get to this point. How do you balance health benefits with flavour and taste when building a kombucha brand? From the start, we’ve been absolutely obsessed with taste – especially driven by our MD Tom, who, when he first tasted another kombucha back in 2016, thought it tasted like cheese water and wanted to create a drink people would choose on its own merit, not just as a gut health option. Our belief is that when you brew kombucha the authentic, traditional way, you don’t have to make the choice between taste and gut health. Fermentation, when done right, creates an incredible complexity of taste – and we’ve found a fantastic combination of flavour pairings that unlocks it. Our repeat purchase rate reflects this, alongside our wide range of taste awards, including the UK Soft Drinks 2026 award for Best New Concept Drink for our Mulled Spice chilled kombucha. What role has sustainability and social responsibility played within Holos Kombucha's story? We simply wouldn’t exist without our social mission – that came first, and kombucha was our vehicle of choice to make the impact we wanted. We are purpose architects. Equally, every choice we make – from being organic to our supply chain, our packaging and even to the quality of our product, has impact and sustainability in mind. We believe it’s just the way business should be done, and find the new wave of brands and businesses with purpose and sustainability embedded as a really exciting development – and a return to the original call of business to serve the people and planet, not the other way around. What has been the company's biggest achievement to date? Gaining a Waitrose listing that then grew seven times its size in just ten weeks was a huge achievement. They backed not only the quality of our product, understanding the nuances of the functional drinks space and where premium, authentic kombucha plays – but also our social mission, and through them we have now funded (at the time of writing) four grants for survivors of exploitation to help rebuild their lives through therapeutic interventions… and we’re just getting started. Can you tell us about any notable challenges on your journey so far and how you navigated them? So many challenges! At a personal level, two co-founding couples – and we’ve had six kids between us in the last eight years. That’s a lot to navigate whilst building a challenger brand that also manufactures in-house, requiring a relentless focus on quality production. Navigating Covid – we lost our brewer to return to New Zealand overnight, and the subsequent shutdown of the hospitality and on-trade. Winning and losing listings. Cash flow during challenging economic times. And all throughout whilst maintaining a commitment to our social mission and ensuring we continue to provide jobs for survivors. What do you think is the functional beverage category's next big trend? From a kombucha point of view, if the US and Australia markets show us anything, they tell us that a maturing of the market will come – mindful consumers are becoming more discerning in terms of 'health-washing,' ultra-processed foods and what is genuine kombucha, and are seeking simpler, cleaner solutions. In a more mature market, authentic brewing matters. The 'no and low' alcohol growth will continue and there is more space for craft functional drinks to play in that occasion, too. What's next for Holos Kombucha? Any exciting plans you can share with us? We remain committed to driving forward our chilled range – but we also know that our consumers drink us not only for gut health, but also as an alcohol alternative. This is an area that we are exploring further as we look forward. We’re also going to be moving towards a more playful approach as a brand, because consumers need those moments of feeling good when they drink Holos, not just doing good to their bodies. What advice would you give to other start-ups in the food and beverage industry? Firstly, don’t skimp on quality. A winning product has to be something that people will buy more than once, and taste is your passport to that. Immerse yourself quickly in the industry to get expert opinions – and find people who will give you brutal, honest feedback. Test and learn fast; don’t wait for perfection before you launch into the world – test quickly, direct to consumer. Check the market to find something that will actually expand the category rather than just compete with what’s already out there; this will make life a lot easier to get those initial conversations. Make sure you have the emotional bandwidth and ‘village’ in your lives to sustain the ups and downs of challenger brand life… especially if you are building other things at once, such as families and caregiving. Overestimate what it will take to do this – not just funding, but time, energy, etc. It’s rewarding, AND it’s a huge, risky commitment. Collaborate and find your people – not just consumers and stockists, but other brands – together we go further. And finally, don’t wait until you are ‘big enough’ to map impact into your business. Find that purpose up front, see what you can uniquely bring to the world with the platform you have; it’s a privilege – why not use it for real good?

The Iowa Economic Development Authority (IEDA) Board has approved incentives for a $55.5 million expansion by Archer Daniels Midland Company (ADM) that will strengthen the company’s precision fermentation capabilities in Clinton, Iowa. The project is part of a wider package of assistance approved by the IEDA Board for manufacturing, community and strategic infrastructure projects across the state. Collectively, the two manufacturing projects supported by the board are expected to create 98 jobs and generate $57.2 million in new capital investment. For ADM, the investment will see an underutilised 463,503-square-foot fermentation facility at its Clinton complex converted into a precision fermentation operation designed to support the production of additional high-value biobased products. The project includes the installation of new processing equipment for separation, purification, drying and packaging, alongside upgrades to existing fermentation equipment, piping and supporting systems. The improvements are intended to enable large-scale production of proteins and enzymes, highlighting the growing role of precision fermentation in the development of new ingredients for food, feed and industrial applications. ADM, a major global processor of agricultural commodities and producer of food, feed and industrial products, expects the project to create 53 jobs. To support the expansion, the IEDA Board awarded ADM $2.23 million in tax credits through the state's Business Incentives for Growth (BIG) programme. The investment comes as precision fermentation continues to attract attention across the food and beverage industry, with companies exploring its potential to produce proteins, enzymes and other functional ingredients more efficiently and at greater scale. Beyond ADM's project, the IEDA Board also approved assistance for another manufacturing company, as well as Community Attraction and Tourism grants for projects in Forest City and Larchwood. In addition, three university-led Strategic Infrastructure Program projects received funding aimed at strengthening Iowa's advanced manufacturing, aerospace and defence innovation ecosystem.

Andrii Sybiha, Ukraine’s Minister of Foreign Affairs, said that two Russian drone strikes have hit a Mondelēz International facility in the country’s Sumy Oblast region. In a statement shared on X, Sybiha said the drone strikes damaged the plant’s premises and injured several employees. “Fortunately, there were no casualties,” he added. “These systematic and deliberate Russian attacks on American business interests in Ukraine demonstrate that Russian aggression is not only a threat to Ukraine, but a direct blow to American economic interests in Europe.” Mondelēz – headquartered in the US and operating worldwide, with a portfolio of brands that includes Oreo, Milka, Philadelphia and Toblerone – has operations in both Ukraine and Russia. Two of the company’s facilities in Ukraine were reportedly damaged amid the conflict in 2022 – the Suby Oblast plant, which produces biscuits, and a potato chip plant located on the outskirts of Kyiv. The company has defended its decision to continue doing business in Russia following criticism and consumer boycotts, with CEO Dirk Van de Put telling BBC News that withdrawing from the country would impact thousands of jobs and leave the business vulnerable to the Kremlin taking control of its local operations. Despite this, Mondelēz said it has scaled down operations in Russia, including discontinuing new capital investments and suspending advertising spending in the country. Its operations and activity in Russia accounted for 3.7% of 2025 consolidated net revenues, according to its 2025 Annual Report, while Ukraine accounted for 0.4%. In 2023, Mondelēz announced it would reorganise its Russian operations to be stand-alone with a self-sufficient supply chain. It emphasised that suspending its Russian operations entirely would mean “cutting off part of the food supply for many families who have no say in the war.” Several other F&B giants, including Danone, Unilever, Coca-Cola and McDonald’s, have exited Russia since its full-scale invasion of Ukraine was launched in February 2022. Top image: © Robson90/Shutterstock.com

Graeter’s Ice Cream is getting a head start on the autumn season with the launch of two seasonal flavours, including the return of its Harvest Pumpkin ice cream and a new limited-edition Apple Strudel variety. The Cincinnati-based ice cream company will launch Harvest Pumpkin on 28 August, followed by the debut of Apple Strudel on 4 September. Both flavours will be available in Graeter’s scoop shops and online for nationwide shipping. Harvest Pumpkin marks the return of a fan-favourite seasonal offering. The flavour combines pumpkin ice cream made with real pumpkin with a blend of warm spices, including cinnamon, nutmeg, clove and ginger, delivering a profile inspired by pumpkin pie filling. The new Apple Strudel flavour draws inspiration from the traditional southern Bavarian dessert and is timed to coincide with Oktoberfest celebrations. The ice cream features a cinnamon-flavoured base loaded with baked apples, cinnamon pastry pieces and an icing drizzle. Both varieties are produced using Graeter’s signature French Pot process, with ice cream crafted in small 2.5-gallon batches. The launches reflect the continued appeal of limited-edition and seasonal flavours in the ice cream category, with pumpkin remaining a staple of autumn product innovation and apple-based desserts offering another route into the season. With the August and early September releases, Graeter’s is aiming to bring classic fall flavour cues to consumers ahead of the peak autumn season, combining a returning favourite with a new dessert-inspired addition to its portfolio.

Royal A-ware has announced the proposed acquisition of LaBan Foods, a move that would expand the dairy company’s product portfolio into butter specialities and support its broader strategy of diversification. The proposed transaction would bring LaBan Foods’ specialist knowledge and distinctive butter range into Royal A-ware’s business, allowing the international family-owned company to offer a broader range of products to its customers. Jan Anker, Chairman of the Board at Royal A-ware, said: “With LaBan Foods, we are bringing specialist knowledge and a distinctive range of butter products in-house, enabling us to serve our customers even better and more comprehensively." For LaBan Foods, the proposed acquisition is expected to provide the scale and resources needed to support its next phase of growth. René Laban, CEO of LaBan Foods, said: “Through the proposed acquisition, we will become part of a major international player in the dairy market, enabling us to focus more on product innovation and to grow both in terms of product range and volume." Karel van Driel, managing director of LaBan Foods, added: “To take the next step as a company, scale is essential. Under the umbrella of Royal A-ware, we can certainly take this step.” The acquisition remains subject to approval by the Netherlands Authority for Consumers and Markets (ACM). The proposed transaction has already been notified to the competition authority.

Hormel Foods Corporation has appointed Ash Bhumbla as executive vice president and chief financial officer, effective 8 September, as the global branded food company continues its efforts to modernise its business and position itself for long-term growth. Bhumbla succeeds Paul Kuehneman, who has served as interim chief financial officer since October 2025. Kuehneman will work with Bhumbla to support a smooth transition and remain a senior leader within Hormel Foods' finance organisation. In his new role, Bhumbla will lead Hormel Foods' finance function and join the company's senior leadership team. His responsibilities will include guiding financial strategy, capital allocation and the company's long-term growth objectives. John Ghingo, president of Hormel Foods, said: "Ash is a highly accomplished finance executive with a proven record of driving performance, leading transformation and creating long-term shareholder value. His broad experience across finance, operations and strategy, coupled with his expertise across consumer-focused, value-added protein businesses, gives him a unique perspective on our business and the opportunities ahead." Bhumbla joins Hormel Foods from Tyson Foods, where he served as senior vice president and chief financial officer for the company's Chicken segment. In 2025, he also concurrently served as CFO of Tyson's International segment. During his time at Tyson, Bhumbla played a leadership role in initiatives focused on operational transformation, finance modernisation, strategic planning and business performance improvement. His previous experience includes senior finance and corporate development positions at Perdue Farms and International Flavors & Fragrances (IFF), following an early career in strategy consulting with Marakon Associates. Bhumbla holds a bachelor's degree from the University of Pennsylvania and an MBA from The Wharton School of the University of Pennsylvania, where he graduated as a Palmer Scholar. The appointment brings an executive with experience across value-added protein and broader food and ingredients businesses into Hormel Foods' senior leadership team. The company, whose portfolio includes brands such as SPAM, Planters, Skippy, Applegate, Columbus and Jennie-O, generates more than $12 billion in annual revenue. Hormel Foods also highlighted the continued role of Kuehneman, a long-serving company executive who joined the business in 1993. Over more than three decades with Hormel Foods, Kuehneman has held accounting and controller roles across the company's manufacturing facilities and headquarters. He became director of internal audit in 2009 and was appointed vice president and CFO of Jennie-O Turkey Store in 2016. He was subsequently named assistant controller in November 2020 and controller in January 2022 before taking on the interim CFO position in October 2025. "Paul has been an exceptional steward of our business and a trusted advisor to our leadership team," Ghingo said. "His deep knowledge of Hormel Foods, financial expertise and commitment to our people have been invaluable." Kuehneman will continue to contribute to Hormel Foods' finance organisation following the transition.