The Food Institute Report back issues from May 2008:
Entrepreneurial thinking pays off for Kraft.
May 05, 2008 ... Although high commodity costs and increased spending on R & D domestically negatively affected Kraft Foods' first quarter earnings, the company's profits overseas were much brighter, with European profits rising 48% and developing markets up 57%. The Wall Street Journal (May 1) attributes ...
Stimulus checks may benefit grocers.
May 05, 2008 ... Federal tax rebates will give the overall retail industry, excluding autos and gasoline, a boost in the next two quarters, according to TNS RETAIL FORWARD. Households will spend an estimated $42 billion, of the $105.7 billion tax rebate, through the end of year. Year-to-year growth for the ...
Supermarkets stay successful despite market challenges.
May 05, 2008 ... Supermarkets remained successful in the second half of 2007 despite a lagging economy and rising food prices, reported Supermarket News (Apr. 21). In fact, "the last two years have been very good for supermarkets, and that should continue going forward," according to Bryant Hunt, a ...
Rice prices affecting restaurants and businesses.(Brief article)
May 05, 2008 ... Rice costs are negatively affecting restaurants and businesses, and some warehouse stores are limiting large purchases, reported Omaha World-Herald (Apr. 25). Due to demand and a poor crop yield, prices of the worldwide staple, consumed by nearly half of the world's population, are up ...
Merger activity within confectionery category.(Acquisitions)(Brief article)
May 05, 2008 ... MARS, INC. reached a merger agreement with WM. WRIGLEY JR. COMPANY in a transaction valued at approximately $23 billion. Under the terms of the agreement, Chicago-based Wrigley, with global sales of $5.4 billion, will become a separate, stand-alone subsidiary of Mars. Headquartered in ...
America's sweet tooth develops a taste for breakfast.(Brief article)
May 05, 2008 ... Savory breakfast items are experiencing increased competition with the sweeter side of things, mainly doughnuts, pastries, and muffins. Easy-to-eat, as well as a good balance to the acidity of coffee, sweet snacks are rising in popularity in the early morning hours. "More than 25% of ...
Campbell shedding Australian snack business, streamlining initiatives.(Brief article)
May 05, 2008 ... The Campbell Soup Company is exiting the snack food business in Australia and closing a plant in Canada as part of a series of initiatives designed to improve the Camden, NJ-based company's operational efficiency and enhance its long-term profitability. Campbell Soup entered into an ...
JDH capital will begin building a 35,000-sq. ft. Food Lion prototype grocery store in Palencia, FL.(NEW STORE NEWS)
May 05, 2008 ... JDH CAPITAL will begin building a 35,000-sq. ft. FOOD LION prototype grocery store in ...
Lee Lee Oriental Supermarket.(NEW STORE NEWS)
May 05, 2008 ... LEE LEE ORIENTAL SUPERMARKET will open in late ...
Stater Bros. Markets.(NEW STORE NEWS)
May 05, 2008 ... STATER BROS. MARKETS opened its newest and most modern full-service supermarket in Cathedral City, CA. In ...
Krispy Kreme.(NEW STORE NEWS)
May 05, 2008 ... A KRISPY KREME closed since August 2006 will ...
Zero's Mr. Submarine, Inc.(NEW STORE NEWS)
May 05, 2008 ... ZERO'S MR. SUBMARINE, INC. and its ...
Acme Markets.(NEW STORE NEWS)
May 05, 2008 ... ACME MARKETS will open an environmentally friendly ...
Goodburger opened in Philadelphia on May 3.(NEW STORE NEWS)
May 05, 2008 ... GOODBURGER opened in Philadelphia on May 3, and 10 ARTS will open in the ...
Paul's Philadelphia Eatery.(NEW STORE NEWS)
May 05, 2008 ... PAUL'S PHILADELPHIA EATERY opened in ...
Quick Chek.(NEW STORE NEWS)
May 05, 2008 ... QUICK CHEK opened a newly renovated store in Middletown, NJ. The store has an expanded ...
Pinkberry Frozen Yogurt.(NEW STORE NEWS)
May 05, 2008 ... PINKBERRY FROZEN YOGURT opened ...
Thai Ginger.(NEW STORE NEWS)
May 05, 2008 ... THAI GINGER opened in St. Paul, MN. It is the fourth Thai restaurant to ...
Tim Hortons.(NEW STORE NEWS)
May 05, 2008 ... TIM HORTONS opened a third location in ...
Food 4 Less.(NEW STORE NEWS)
May 05, 2008 ... FOOD 4 LESS opened a 58,020-sq. ft ....
Cracker Barrel Old Country Store and Restaurant opened its fourth Columbia, SC-area location, and Asian chain Miyo's Gourmet Group.(NEW STORE NEWS)
May 05, 2008 ... CRACKER BARREL OLD COUNTRY STORE AND RESTAURANT opened its fourth Columbia, SC-area location, and Asian chain ...
Sheetz, Inc. opened its 17th North Carolina outlet in Davidson County.(NEW STORE NEWS)
May 05, 2008 ... SHEETZ, INC. opened its 17th North Carolina outlet in Davidson County. KWIK TRIP INC. is ...
Cold Stone Creamery, Nate's Seafood, and Olive Garden will open in Allen, TX.(NEW STORE NEWS)
May 05, 2008 ... COLD STONE CREAMERY, NATE'S SEAFOOD, and OLIVE GARDEN ...
Harmons.(NEW STORE NEWS)
May 05, 2008 ... HARMONS opened a 70,000-sq. ft. grocery store that features an expanded fresh foods ...
$1.25 Mart.(NEW STORE NEWS)
May 05, 2008 ... A 15,000-sq. ft. $1.25 MART opened in ...
California Pizza Kitchen.(NEW STORE NEWS)
May 05, 2008 ... CALIFORNIA PIZZA KITCHEN opened its second ...
A new 26,368-sq. ft. Borders store in Tukwila, WA will feature a Seattle's Best Coffee cafe.(NEW STORE NEWS)
May 05, 2008 ... A new 26,368-sq. ft. BORDERS store in Tukwila, WA will feature a SEATTLE'S BEST COFFEE cafe that ...
Toscana 52 opened in Bensalem, PA, and MAIA, a bi-level Euro-style restaurant, cafe, coffee bar, and market.(NEW STORE NEWS)
May 05, 2008 ... TOSCANA 52 opened in Bensalem, PA, and MAIA, a bi-level Euro-style restaurant, cafe, ...
Red Robin Gourmet Burgers, Inc.(NEW STORE NEWS)
May 05, 2008 ... RED ROBIN GOURMET BURGERS, INC. will open ...
Biotechnology to the rescue.
May 05, 2008 ... The grim, stark reality of skyrocketing food prices and global grain shortages is evidently making genetically engineered crops more socially acceptable. Up until now, grain growers, marketers and processors all thought twice--or more than twice--about using biotech grains due ...
Latest financial reports (000 omitted).(Statistical table)(Financial report)
May 05, 2008 ... <Pre> LATEST FINANCIAL REPORTS (000 OMITTED) Current% Change YearYear Ago ALTRIA GROUP, INC. (NEW YORK, NY) Qtr. To Mar. 31: Sales ...
Alimentation Couche-Tarde Inc., Laval, Quebec, Canada signed, through its Mac's Convenience Stores LLC, subsidiary, an agreement to acquire 83 stores in the St. Louis, MO area and central Illinois area from Spirit Energy, L.L.C. which does business as Convenient Food Mart.(MERGERS & ACQUISITIONS)(Brief article)
May 05, 2008 ... ALIMENTATION COUCHE-TARDE INC., Laval, Quebec, Canada signed, through its MAC'S CONVENIENCE STORES LLC, subsidiary, an agreement to acquire 83 stores in the St. Louis, MO area and central Illinois area from SPIRIT ENERGY, L.L.C. which does business as Convenient Food Mart. ...
First Data Corp., an electronic commerce and payment processing provider based in Denver, reached an agreement to acquire Atlanta-based INCOMM.(MERGERS & ACQUISITIONS)
May 05, 2008 ... FIRST DATA CORP., an electronic commerce and payment processing provider based in Denver, reached an agreement to acquire ...
Greencore Group Plc, Ireland, acquired Home Made Brand Foods Inc., a Newburyport, MA-based manufacturer in the chilled food market.(MERGERS & ACQUISITIONS)(Brief article)
May 05, 2008 ... GREENCORE GROUP PLC, Ireland, acquired HOME MADE BRAND FOODS INC., a Newburyport, MA-based manufacturer in the chilled food market. This acquisition marks the entry by Greencore, a ...
Houchens Industries, Bowling Green, KY, signed a letter of intent to buy Jasper, IN-based Buehler Foods Inc., operator of 22 grocery stores in Illinois, Indiana and Kentucky.(MERGERS & ACQUISITIONS)(Brief article)
May 05, 2008 ... HOUCHENS INDUSTRIES, Bowling Green, KY, signed a letter of intent to buy Jasper, IN-based BUEHLER FOODS INC., operator of 22 grocery stores in Illinois, Indiana and Kentucky ....
Icicle Seafoods, Inc., Seattle, WA, entered into a definitive agreement to acquire Smoki Foods.(MERGERS & ACQUISITIONS)
May 05, 2008 ... ICICLE SEAFOODS, INC., Seattle, WA, entered into a definitive agreement to acquire SMOKI FOODS, a Seattle-based processor of fresh and frozen seafood, and ...
Kraft Foods Inc., Northfield, IL, signed agreements to sell the Artiach biscuits business in Spain to Panrico and the Balaton chocolate trademark in Hungary to Nestle.(MERGERS & ACQUISITIONS)(Brief article)
May 05, 2008 ... KRAFT FOODS INC., Northfield, IL, signed agreements to sell the ARTIACH biscuits business in Spain to PANRICO and the BALATON chocolate trademark in Hungary to NESTLE. These actions follow last year's decision by the European Commission to clear Kraft's acquisition of GROUP DANONE'S global ...
Lantmannen Unibake, a European frozen bakery products supplier based in Denmark, acquired Florida-based Eurobake, a maker of European-inspired bread products for customers such as Disney, Arby's and Denny's.(MERGERS & ACQUISITIONS)(Brief article)
May 05, 2008 ... LANTMANNEN UNIBAKE, a European frozen bakery products supplier based in Denmark, acquired Florida-based EUROBAKE, a maker of European-inspired bread products for customers such as ...
Magic Hat Brewing Company & Performing Arts Center, Inc., South Burlington, VT, agreed to acquire Pyramid Breweries Inc.(MERGERS & ACQUISITIONS)
May 05, 2008 ... MAGIC HAT BREWING COMPANY & PERFORMING ARTS CENTER, INC., South Burlington, VT, agreed to ...
Max & Erma's Restaurants, Inc., Columbus, OH, signed a definitive agreement with G&R Acquisition, Inc., an entity formed by Gary Reinert, St. of Pittsburgh, PA.(MERGERS & ACQUISITIONS)
May 05, 2008 ... MAX & ERMA'S RESTAURANTS, INC., Columbus, OH, signed a definitive agreement with G&R ACQUISITION, INC., an entity formed by ...
Monterey Gourmet Foods, Salinas, CA, purchased the remaining 20% of Sonoma Foods, for $50,000 and earn-out clause, effective Mar. 31.(MERGERS & ACQUISITIONS)
May 05, 2008 ... MONTEREY GOURMET FOODS, Salinas, CA, purchased the remaining 20% of SONOMA FOODS, for $50,000 and earn-out clause, effective Mar. 31. Monterey Gourmet Foods ...
Nathan's Famous, Inc., Westbury, NY, sold NF Roasters Corp. to Roasters Asia Pacific (Cayman) Limited.(MERGERS & ACQUISITIONS)
May 05, 2008 ... NATHAN'S FAMOUS, INC., Westbury, NY, sold NF ROASTERS CORP. to ROASTERS ASIA PACIFIC (CAYMAN) LIMITED, its Master Developer of ...
Pepsico, Purchase, NY, acquired V Water.(MERGERS & ACQUISITIONS)
May 05, 2008 ... PEPSICO, Purchase, NY, acquired V WATER, ...
Symrise finalized the acquisition of Christian Hansen's flavor division.(MERGERS & ACQUISITIONS)
May 05, 2008 ... SYMRISE finalized the acquisition of CHRISTIAN HANSEN'S flavor ...
Alfesca completed the acquisition of D&F SRL from its founder managers.(MERGER RELATED NEWS)
May 05, 2008 ... ALFESCA completed the acquisition of D&F SRL from its founder managers. D&F is a supplier and distributor to Italy's retail ...
Barry Callebaut, acquired a 60% stake in KLK Cocoa in Malaysia from Kuala Lumpur Kepong Berhad.(MERGER RELATED NEWS)
May 05, 2008 ... BARRY CALLEBAUT, acquired a 60% stake in KLK COCOA in Malaysia from KUALA LUMPUR ...
Cosan, Brazil's largest sugar and ethanol producer, signed a contract to buy Exxonmobil Corp.'s distribution and service stations in Brazil.(MERGER RELATED NEWS)
May 05, 2008 ... COSAN, Brazil's largest sugar and ethanol producer, signed a contract to buy EXXONMOBIL CORP.'S ...
China Yingxia International, Inc. acquired Guangzhou Chichi Network Supermarket Chain Co., Ltd. and Guangzhou Chichi Network Technology Development Co., Ltd.(MERGER RELATED NEWS)
May 05, 2008 ... CHINA YINGXIA INTERNATIONAL, INC. acquired GUANGZHOU CHICHI NETWORK SUPERMARKET CHAIN CO., LTD. and ...
Ihop Corp.'s.(MERGER RELATED NEWS)
May 05, 2008 ... IHOP CORP.'S plan to sell and leaseback 191 company-owned restaurants was "challenged" by weak credit-market conditions. IHOP is continuing to ...
Jeronimo Martins.(MERGER RELATED NEWS)
May 05, 2008 ... JERONIMO MARTINS received clearance from the Portuguese antitrust authority to ...
Congress to take steps toward reducing duty collection shortfalls.(WASHINGTON)
May 05, 2008 ... Since 2001, the U.S. CUSTOMS AND BOARDER PROTECTION (CBP) has not been able to collect over $600 million in antidumping (AD) and countervailing (CV) duties. The DEPARTMENT OF COMMERCE has enforced these duties in order to remedy unfair foreign trade practices. The non-collection ...
FDA globalization act hearing held.(WASHINGTON)
May 05, 2008 ... On Apr. 25, the HOUSE ENERGY AND COMMERCE SUBCOMMITTEE ON HEALTH held the first of two hearings on the Discussion Draft of the FOOD AND DRUG ADMINISTRATION Globalization Act of 2008, according to FOOD INSTITUTE counsel OLSSON FRANK WEEDA TERMAN BODE MATZ PC. Members in attendance included ...
Rep. Dingell circulates food safety legislation.(WASHINGTON)(Brief article)
May 05, 2008 ... Rep. John Dingell (D-MI), chair of the House Energy and Commerce Committee, circulated a discussion draft of major food safety legislation, the Food and Drug Administration Globalization Act of 2008. In a memorandum accompanying the draft bill, Rep. Dingell declared his intention to hold ...
USDA finds weakness in STARS II.(WASHINGTON)
May 05, 2008 ... The FOOD AND NUTRITION SERVICE (FNS) uses the STORE TRACKING AND REDEMPTION SYSTEM II (STARS II) to store information on retailers that redeem benefits as part of the FOOD STAMP PROGRAM (FSP). STARS II also supports the benefit redemption activity by storing redemption data used for ...
Cuba--U.S. trade relations remain strong.(WASHINGTON)(Brief article)
May 05, 2008 ... Currently the U.S. supplies Cuba with 30% of its food and agricultural import requirements. The countries have mutually benefited from trade relations, according to a USDA Food & Agriculture report. Beginning in 2000, as a result of the Trade Sanctions Reform and Export Enhancement Act, ...
FDA issues warning letters.(WASHINGTON)(Brief article)
May 05, 2008 ... Durham, NC-based SIMPLY FRESH INCORPORATED was issued a warning letter on Apr. 9, 2008 by FDA after investigations of the company's seafood processing facility on Mar. 11-12, 2008. The investigation found serious violations of the seafood Hazard Analysis and Critical Control Point ...
Food product recalls reported.(WASHINGTON)(Brief article)
May 05, 2008 ... Silk Soymilk Chocolate Flavor is being recalled by WHITE WAVE FOODS, Mount Crawford, VA. The product was distributed nationwide. The firm initiated recall began on Apr. 23, 2008, and is ongoing. Reason For Recall: "The product may contain undeclared milk protein." THE DEPARTMENT ...
Produce.(MARKETS)
May 05, 2008; ... Wild blueberries and sweet cherries top the list of increased imports, with 300% and 196% gains, respectively. Majority of imports are down from 2007 levels, of which Mandarins and plums dropped the most. Watermelons and cantaloupes are close to last years import levels, abeit slightly ...
Canned vegetables.(MARKETS)
May 05, 2008; ... ASPARAGUS--Foodservice prices of 6/10 canned asparagus are between $37.25-$37.35, f.o.b. Midwest. Processor prices of private label 6/10 canned asparagus are between $38.15$38.45, and private label prices of 24/300 cases are between $18.00-$18.50, both f.o.b. Midwest. ...
Tomato products.(MARKETS)
May 05, 2008; ... SAUCE--Foodservice 6/10 canned tomato sauce is selling between $11.05-$11.35, f.o.b. Mid-Atlantic. PASTE--Foodservice 6/10 canned tomato paste is selling between $21.80-$22.50, f.o.b. Mid-Atlantic. Hot break 31% NTSS (Brix) paste in 55 Gal. Drum is between 45-47 cents per pound, ...
Frozen vegetables.(MARKETS)
May 05, 2008; ... BROCCOLI--Foodservice packs of broccoli spears are priced between 75 to 90 cents per pound, while retail packs of broccoli spears are between $14.80 and $15.00, both f.o.b. West Coast. BRUSSELS SPROUTS--Frozen brussel sprouts in 12/16-oz. poly packs are priced between $10.50 and ...
Canned fruits.(MARKETS)
May 05, 2008; ... PEACHES--Imports of canned peaches to the U.S. as of Mar. 1 totaled 24.4 million pounds, a decrease of 33% from 2007. Imports from countries such as Greece, Thailand, and Spain all decreased from last year. Imports from China increased significantly from the previous year and accounted for ...
Processed fish.(MARKETS)
May 05, 2008; ... FLOUNDER--NMFS decreased the Georges Bank yellowtail flounder trip limit to 5,000-lbs. for northeast multispecies days-at-sea vessels fishing in the U.S./Canada Management Area. This action is authorized by the regulations implementing Amendment 13 to the northeast Multispecies Fishery ...
Dried vegetables.(MARKETS)
May 05, 2008; ... DRIED BEANS--Trading in the Dry Edible Bean market was very slow. Demand light to moderate. Supplies are limited with very light grower selling. With limited supplies remaining, few spot bids are being offered. All prices are reported on very limited trading. PEAS & ...
Dried fruits & nuts.(MARKETS)
May 05, 2008; ... PEANUTS--Peanut stocks reported in commercial storage on Mar. 31, 2008 totaled 2.32 billion pounds of equivalent farmer stock, compared with 2.93 billion pounds a year ago. This total includes 1.51 billion pounds of actual farmer stock. Shelled peanuts on hand totaled 741 ...