Expected to be completed by March 31, ConAgra Foods’ acquisition of Ralcorp Holdings will create one of the largest packaged food companies in North America, with annual sales of approximately $18 billion.
The ‘Hispanization’ of the American palate has been a strong trend for the past five years according to Stephen Palacios, executive vice president at consulting and marketing research company Added Value Cheskin. Palacios cites research by the Food Marketing Institute, discussing the trend that is becoming more mainstream, but hasn't yet reached its peak.
Hostess Brands and the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union will meet today to discuss the future of the Irving, Texas-based company.
Members of the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union (BCTGM) employed at Irving, Texas-based Hostess Brands Inc. locations across the country began striking on Nov. 9. The company then said it is permanently closing three bakeries nationally in response, and says it has requested bankruptcy-court authorization to close the business and sell its assets.
A recent consumer satisfaction survey indicates that consumers feel better about products from Sara Lee, now a Hillshire Brands company, and Quaker Oats than they did a year ago, but aren’t as crazy about Kraft Foods.
Fast food giant Yum Brands sells its Pizza Hut restaurant chain (with 330 outlets) in the U.K. to London-based venture capitalist firm Rutland Partners.