PepsiCo's focus on pricing adjustments and better-for-you products fueled first-quarter sales and earnings growth, CEO Indra Nooyi said. The company is formulating lower-sugar products and building its overall portfolio to stem the impact of beverage taxes, which have passed in several US cities, Nooyi said.
Almost four years after CEO David Murdock forged a $1.2 billion deal that took Dole Food Company private, the firm has filed an initial public offering. The company's filing documents report an IPO of up to $100 million, but the final size could ultimately diverge from that figure.
As advertising options proliferate from traditional to social and beyond, more CPG brands are seeking reliable strategies to ensure that their products will find space in consumers' shopping carts. Tetley Tea, for instance, is working closely with influencers, while Fage Yogurt is leaning more heavily into digital, social and television.
Newly-formed company DanoneWave is now the largest public benefit corporation in the US. "It's a clear statement to the world -- and the people in our company -- about what we're up to and trying to do, which is to bring healthy food to as many people as possible," said CEO Lorna Davis.
Kraft Heinz's new "Feed Your Family, Feed the World" initiative officially launched this week with the goal of donating thousands of meals to Rise Against Hunger. "Thanks to Kraft Heinz, we can all be involved in providing life-changing nutrition by taking a few simple actions," said Rise Against Hunger CEO Rod Brooks.
As marijuana becomes legal in an increasing number of states, it is starting to cut into beer sales. Some 34% of millennial consumers said they would swap out beer for marijuana, while 18% report that they'd substitute marijuana for wine, according to a study by OutCo and Monocle Research.
Diageo will shrink its workforce by over 100 jobs when it shifts some of its bottling operations out of Scotland in the wake of the company's decision to dispose of its wine bottling contracts.
William Grant & Sons has acquired N.Y.-based craft spirits distiller Tuthilltown Spirits in a new venture into American whiskey. Grant, which is entering the market for the first time, will take over the multi-variety Hudson Whiskey line as part of the acquisition, including Hudson Baby Bourbon, Hudson Manhattan Rye and Hudson Four Grain Bourbon, among others.
Roanoke's Deschutes brewery is planning for growth in Virginia as it opens a tasting room and lays the groundwork for a $90 million brewery. Deschutes will begin construction on the new 55-acre facility in 2019, and plans to offer 15 of its craft brews in the new taproom this summer to prime the pump until the new brewery begins shipping product in 2021.
Templeton Rye is expanding its production capacity with a new $26 million distillery in its Templeton, Iowa, home. The spirits company, which started with 68 barrels of whiskey in 2006, expects that its new plant will have the capacity to turn out 500,000 proof gallons of whiskey each year.
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