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Please see below for a listing of what the North Point Food & Beverage Team has been tracking this week. We hope that you find the content insightful and a nice way to summarize the most noteworthy Food & Beverage events of the week.
Have a nice weekend!
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Glen Clarke
Head of Food & Beverage
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Glanbia to acquire Flavor Producers for up to 355m USD. | - Glanbia, an Irish food company, has agreed to acquire Flavor Producers, a Valencia, California-based flavor platform focused on organic and natural ingredients.
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Fresha expands carrot supply with Georgia acquisition. | - Fresha, a leading provider of high-quality, locally grown carrots, is thrilled to announce the expansion of its operational footprint with the acquisition of a facility in Sparks, Georgia.
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SpartanNash acquires Wisconsin grocery chain. | - Food solutions company SpartanNash announced its acquisition of Metcalfe’s Market, a three-store grocery chain in Wisconsin.
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Waterloo Sparkling Water considers potential sale. | - Waterloo Sparkling Water CEO Jason Shiver said the Texas-based beverage company is evaluation options including a sale.
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Catalina Finer Food acquires Saugatuck Kitchens. | - Catalina Finer Food, a Tampa, Florida-based manufacturer of Cuban and Caribbean cuisine, has acquired Saugatuck Kitchens, a Stratford, Connecticut-based producer of premium, handcrafted frozen foods.
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Verde Campo to be sold by Coca-Cola. | - Coca -Cola has agreed to sell Brazilian dairy company Laticinios Verde Campo to local peer Laticinios Porto Alegre.
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FOOD AND BEVERAGE MUSINGS | |
Decaf is the hottest thing in coffee right now. |
- Weihong Zhang, owner of BlendIn Coffee Club, won the US Brewers’ Cup with a decaf coffee, a rare feat in the competition’s history, showcasing the evolving perception of decaf in the coffee industry.
- Despite historical stigma, decaf coffee is gaining traction in both quality and popularity, with projections indicating substantial market growth, particularly in the specialty segment.
- Advances in caffeine removal techniques, such as the Swiss Water Process and the sugarcane method, offer alternatives to traditional solvent-based decaffeination, preserving flavor and complexity in decaf coffee.
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Three additional Michigan dairy herds affected by HPAI. |
- The Michigan Department of Agriculture and Rural Development confirmed three new cases of HPAI in dairy herds, bringing the state’s total affected herds to four. The situation reflects a nationwide trend.
- MDARD is collaborating with various stakeholders at federal, state, and local levels to combat the disease, leveraging recent budget investments for an effective response.
- HPAI has also affected dairy cattle in several other states, with Michigan becoming the third state, after Texas and Kansas, to report such cases. Eight states have reported HPAI in dairy cattle since March, but beef cattle remain unaffected.
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Bird flu found in South Dakota dairy herd. |
- A South Dakota dairy herd tested positive for HPAI, marking the eighth state affected by the virus in livestock.
- South Dakota dairy producers are advised to monitor their herds closely and contact a veterinarian if symptoms appear. Despite concerns, USDA emphasizes that pasteurization ensures safety in dairy products.
- Initial cases show non-lethal and treatable effects, with affected cattle experiencing decreased milk production and mild symptoms. Isolation and treatment have led to recovery in affected animals.
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Dole’s national banana survey reveals unexpected purchase preference. |
- A national survey commissioned by Dole Food Co. reveals bananas as the top must-buy fruit and vegetable, with nearly 3 in 10 preferring them partially green.
- Dole aims to leverage survey insights to collaborate with retailers, emphasizing sustainable growing practices and merchandising to enhance produce department results.
- The survey also highlights consumer shopping habits, such as trip frequency and spending, and priorities like food variety, convenience, and sustainability. Dole plans a year-long celebration, including contests, charity engagements, and promotional activities, to mark its 125th “Banana-versary.”
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JBS prepares to double capacity at Brazil cattle plant. |
- JBS SA announced plans to double the processing capacity and workforce at its Campo Grande II facility in Brazil’s Mato Grosso do Sul state, making it the country's largest beef plant.
- The company will invest $150 million reals ($28.45 million) to increase daily cattle slaughter to 4,400 and raise employment from 2,300 to 4,600.
- Following its first beef shipment to China, JBS aims to capitalize on Brazil’s attractiveness for agribusiness investments. The expansion aligns with Brazil's increased beef export capacity, with now 144 qualified facilities for export to China, including nine in Mato Grosso do Sul state.
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An evolution explained: Mondelēz report reveals changing consumption habits. |
- As pre-digital generations age into the middle class, younger digital-native generations are driving market trends. Factors like global mobility, multiculturalism, and changing household compositions influence food preferences and consumption habits.
- The expanding global middle class favors premium, sustainable products, with urban migration leading to demand for convenience and diverse snacking options.
- The food industry must adapt to cater to diverse consumer groups’ preferences, from health-conscious seniors to culturally aware youths.
- Mondelēz International’s report underscores the need for the food sector to embrace these changes to remain relevant in tomorrow's market.
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Ozempic, but without the side effects. |
- Spanish scientists use AI to identify two plant extracts as potential GLP-1 agonists for weight loss, similar to Ozempic and Wegovy.
- These compounds, named Compound A and Compound B, are undergoing lab testing and could offer alternatives with fewer side effects.
- The discovery could disrupt the food industry as consumer preferences shift towards healthier options, impacting both startups and established companies.
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JM Smucker’s CMO on what she’s learned about refreshing ‘dusty’ brands. |
- The J.M. Smucker Company revamped its marketing model in 2018 under the “Power of One” initiative, consolidating agencies under Publicis Groupe unit PSOne to streamline creative, data, and media functions.
- Through a focus on brand truth, consumer needs, and cultural relevance, Smucker reinvigorated legacy brands like Jif, Folgers, and Meow Mix, leading to significant market share growth.
- Smucker’s CMO, Gail Hollander, emphasizes the importance of long-term brand building, data-driven insights, and creativity, working closely with other executives to integrate marketing efforts and drive business outcomes.
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Farm bill proposal won’t cut SNAP benefits. |
- House Agriculture Chairman Glenn “GT” Thompson’s farm bill proposal avoids cutting food assistance benefits under SNAP, potentially easing negotiation hurdles.
- Political disagreements over SNAP funding cuts have stalled farm bill negotiations for over a year, with Republicans seeking reductions and Democrats opposing them.
- Thompson’s proposal aims to maintain SNAP benefits and eligibility while ensuring a cost-neutral approach to benefit determinations, considering current food prices and consumption patterns.
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- Nestlé transitions Nesquik ready-to-drink bottles to recyclable shrink sleeve labels, enhancing recyclability and estimated to facilitate the recycling of 4,500 metric tons of PET plastic annually.
- Jim Beam introduces Kentucky Coolers, malt-based hard cocktail drinks in four fruity flavors, as part of a partnership with Boston Beer and Beam Suntory, aiming to tap into the RTD beverages market.
- Fable launches THC and CBD-infused botanical cocktails nationwide, offering three varieties with 5 milligrams of Delta-9 THC and 3 milligrams of CBD per 12-ounce can, targeting consumers seeking alcohol alternatives.
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Red Baron pizza owner looks to Korean food for its next $1B offering. |
- Schwan’s Korean food brand, Bibigo, acquired by CJ Foods in 2019, has seen explosive growth, surpassing $500 million in retail sales with over 1,100% increase since acquisition.
- Global surge in Korean cuisine popularity drives Bibigo’s success, with 72% of U.S. consumers aware of it. Opportunities for growth include expanding household penetration and leveraging consumer interest in Korean and Asian cuisines.
- Bibigo’s Seoul innovation center enhances authenticity and trend-watching, facilitating the development of popular Korean-inspired products for the U.S. market.
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Environmental, Labor and Safety+ conference honors meat, poultry companies. |
- The Meat Institute honored over 200 meat and poultry plants at the 2024 Environmental, Labor, and Safety+ Conference for their sustainability efforts, presenting Environmental Achievement Awards to facilities operated by JBS USA, Smithfield Foods, and Tyson Foods.
- Smithfield Foods received top recognition across all categories, including Emissions Reduction, Energy Conservation, Packaging/Food Waste Reduction, Technological Innovation, and Water Conservation.
- Additionally, nearly 200 plants were commended for exceptional worker safety performance, and awards were given for Health & Wellness initiatives and Diversity, Equity, and Inclusion efforts. All recognized companies participated in The Protein PACT in 2023.
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Food companies aren’t ready to comply with traceability rule. |
- Despite a federal mandate for enhanced food traceability by 2026, compliance among food companies remains low, according to former FDA official Frank Yiannas.
- The mandate, part of the Food Safety Modernization Act (FSMA), aims to prevent contamination and improve safety by tracing food inputs throughout the supply chain.
- Challenges persist, particularly in the last mile of distribution, with advanced shipping notices used as shortcuts but requiring accurate receiving records for effectiveness.
- Advancements in technology, such as IoT labels and RFID, offer promise for improving traceability, providing detailed information about food products beyond their origin.
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- Pepsi debuts limited-edition peach and lime flavors for summer — Food Dive
- McDonald’s adds chicken sandwich with a kick to menus — Meat + Poultry
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