Sources say Nestle is putting its PowerBar energy brand on the market. Nestle acquired the brand in 2000 for an undisclosed sum, and could sell it for several hundred million dollars, according to sources.
Representatives of Sysco met with individual members of the Federal Trade Commission this week, in an effort to avoid an antitrust lawsuit and win approval for its proposed $3.5 billion acquisition of rival US Foods, sources said. The meetings came after the commission turned down Sysco's offer to sell off 11 of its facilities to Performance Food Group.
Mexican supermarket operator Controladora Comercial Mexicana is close to a deal to sell 160 of its 200 stores to Organizacion Soriana for about $3 billion, undisclosed sources said. The Mexico City-based chain put itself up for sale about a year ago, and had been in talks with another prospective buyer as recently as October.
Privately held Hostess Brands is expected to file for Chapter 11 bankruptcy protection, according to sources. The maker of Twinkies, Wonder Bread and other baked goods has been pinched by higher costs for labor and commodities such as sugar, and owes vendors more than $50 million.
China has barred entry of 55,000 to 66,000 tons of U.S. corn shipped by a Japanese trading company, saying the cargo contained unapproved genetically modified organisms, sources said. "China only allows 11 varieties of GM corn to be imported to the country, and the cargo was found with GM material outside the 11 varieties," said one of the sources.