The private-equity owners of Bolthouse Farms have restructured the US business into two distinct companies. Butterfly Equity, which purchased California-based Bolthouse Farms from Campbell Soup Co. in 2019, announced that the division will “enable accelerated growth via increased flexibility for investment in capabilities as well as acquisitions”. One side of the business, Bolthouse Fresh Foods, will focus on supplying fresh carrots to retailers throughout North America, with leadership under CEO Timothy Escamilla, previously president of Dole Fresh Vegetables. The second entity, Generous Brands, will encompass fruit and vegetable juices, smoothies, and fortified energy and immunity drinks, including Evolution Fresh, which…
Author: Sam Allcock
A Senate inquiry in Australia has proposed that supermarket price gouging should be declared illegal, and has advocated for divestiture laws to dismantle the country’s supermarket duopoly. The inquiry, led by the environmentalist Greens party, published its final report on 7 May, featuring 14 recommendations. These include the introduction of measures to dismantle large supermarket chains and an enhancement of the food and grocery code of conduct. Senator Nick McKim, Greens Economic Justice spokesperson and chair of the committee, described the report as “landmark”, aimed at addressing “so much harm” done to the Australian populace. He stated, “The committee has…
In the realm of corporate alliances, the partnership between Uber Eats and Instacart may not be as epic as Iron Man joining forces with Spider-Man, but it’s still a significant power play. Their target? The dominant market leader, DoorDash. Instacart is set to add a new ‘restaurants’ tab to its app, enabling users to order directly from Uber Eats, as announced this morning. This strategic move allows Instacart to broaden its service offerings, while Uber takes a direct jab at DoorDash’s stronghold in the suburban demographic, a segment where Instacart also excels. “In a way, you could say that we’re…
Once hailed as the potential Amazon of rapid grocery delivery with a valuation peaking at $12 billion, Getir has now confirmed the closure of its operations in the U.S., Germany, the U.K., and the Netherlands, choosing to focus solely on its original market in Turkey where it began in 2015. During its peak, Getir’s allure was undeniable: the promise of delivering groceries within 15 minutes at almost any hour, which had investors clamouring for a piece of the action. From its first investment in 2017, the company attracted more than $2.3 billion by 2023, with a staggering $768 million secured…
Aldi, the discount supermarket chain, has revealed that its partnership with the food redistribution platform Too Good To Go has resulted in over £7 million in savings for its customers. Through this partnership, customers have the opportunity to buy “Surprise bags” containing surplus food. Since the initiative’s start in February 2023, more than half a million of these bags have been sold. Aldi reports that this initiative has prevented approximately 1,500 tonnes of CO2 emissions by distributing food at discounted prices that would otherwise have been discarded. These Surprise bags, filled with a variety of grocery items nearing their sell-by…
The US-based Hain Celestial has unveiled plans to streamline its array of food and beverage products to bolster future growth. This initiative will impact its offerings in meal preparation, snacks, as well as food and drinks for babies and children. In the meal preparation segment, the company aims to optimise its Linda McCartney plant-based meats selection, focusing particularly on the frozen products sold across Europe and the UK. Additionally, the producer of Terra vegetable crisps is set to revise its baby and children’s food and drinks lineup, “as part of ongoing brand maintenance.” The streamlining effort included the recent divestiture…
Nespresso has partnered with the social enterprise Change Please, pledging a substantial £1 million to aid homelessness relief efforts. Change Please reported in its latest analysis a concerning 50 percent surge in homelessness from March 2022 to March 2023 and noted 1,313 deaths linked to homelessness in 2021. The £1 million from Nespresso will contribute towards providing those affected by homelessness with barista training, employment at a living wage, assistance with essential life administration such as housing and banking, mental health support, and further job opportunities. Out of the total donation, £500,000 is allocated to establish a sustainable program and…
Nestlé India has announced a joint venture with pharmaceutical giant Dr Reddy’s Laboratories to manufacture and distribute medical-nutrition products and supplements. Initially, the publicly-traded Nestlé India will hold a 49% stake in the venture, while the Hyderabad-based Dr Reddy’s will own the majority share. According to a statement filed with the stock exchange, under the terms of the agreement, Nestlé India will possess a call option to increase its stake to 60% after six years “at a fair market value.” “We have been on a journey where we strive to add value to the lives of our consumers through powerful…
In a stride towards sustainability, the discount supermarket chain Aldi has announced its transition to using 100 percent recycled plastic (rPet) for its own-brand soft drinks and bottled water offerings in England and Wales. This initiative reportedly establishes Aldi as the first UK supermarket to convert its entire own-label soft drinks category to fully recycled materials, with the sole exceptions being the cap and label. The revamped packaging will gradually appear across all relevant products in the soft drinks aisle of its stores. The retailer estimates that the switch to entirely recycled content will prevent the use of “around 10,000…
General Mills is reportedly examining the possibility of divesting its yoghurt business in North America. Reuters has reported that the American company has enlisted the services of investment banking firm JPMorgan Chase to assist in identifying prospective purchasers for this division. The producer of Nature Valley snack bars is aiming to have the portfolio valued at nearly ten times the asset’s annual EBITDA, which is approximately $250m, according to unnamed sources familiar with the matter. The yoghurt product line of General Mills includes well-known brands such as Yoplait, Liberté, and Ratio Food. At the time this article was prepared, the…