(Reuters) – Starbucks Corp (SBUX.O: Quote, Profile, Research, Stock Buzz) and Danone SA (DANO.PA: Quote, Profile, Research, Stock Buzz) said on Tuesday they agreed to sell a co-branded yogurt through Starbucks cafes and in grocery stores as yogurt makers battle for dominance in the $7 billion U.S. market.
The partnership comes as Starbucks pushes into the “health and wellness” category and as Danone, owner of the Dannon brand, and other yogurt makers seek to conquer the U.S. market, where yogurt consumption lags Europe.
NEW YORK (Reuters) – BlackRock Inc (BLK.N: Quote, Profile, Research, Stock Buzz) said on Thursday it opposes Nelson Peltz’s proposal that PepsiCo Inc (PEP.N: Quote, Profile, Research, Stock Buzz) buy Mondelez International (MDLZ.O: Quote, Profile, Research, Stock Buzz) and shed its beverage business, signaling that the activist investor’s proposal could fall flat with fellow investors.
“At the moment, I would disagree with him,” Larry Fink, chief executive of BlackRock, the world’s largest money manager, said in an interview on CNBC. “I question how it would add long-term value.”
NEW YORK (Reuters) – Activist shareholder Nelson Peltz dialed up pressure on PepsiCo Inc (PEP.N: Quote, Profile, Research, Stock Buzz), saying it should buy Mondelez International Inc (MDLZ.O: Quote, Profile, Research, Stock Buzz) for more than $62 billion and spin off its soft drink business.
Peltz, a force behind some of the global food industry’s biggest deals, finally laid out his vision for what would be a snack food powerhouse on Wednesday, three months after reporting ownership stakes in each company that sparked rampant Wall Street speculation.
NEW YORK (Reuters) – Activist shareholder Trian Fund Management said on Wednesday it wants PepsiCo Inc to buy Oreo cookie maker Mondelez International Inc for $35 to $38 a share, or separate its snacks and beverage business.
Officials from both companies were not immediately available for comment, but Trian said in a statement that PepsiCo had indicated it was not inclined to pursue the acquisition.
NEW YORK (Reuters) – A timeframe agreed upon between PepsiCo Inc (PEP.N: Quote, Profile, Research, Stock Buzz) and Trian Fund Management’s Nelson Peltz to privately address the activist investor’s suggestions for improving shareholder returns may be closing, according to three sources familiar with the matter.
Peltz, who has played a role in some of the global food industry’s biggest deals, revealed a stake in PepsiCo in April. The soft drink and snack maker said at the time that it had held meetings with Trian “to discuss and consider their ideas”. It did not say what those ideas were, though a concurrent purchase of Oreo cookie maker Mondelez International Inc (MDLZ.O: Quote, Profile, Research, Stock Buzz) shares fueled speculation Peltz would push for a merger.
(Reuters) – Coca-Cola Co (KO.N: Quote, Profile, Research, Stock Buzz) reported weaker-than-expected sales volumes on Tuesday due to ongoing economic malaise and unusually poor weather, sending its shares down nearly 3 percent.
Coca-Cola said overall volume rose 1 percent, which was below its expectations, and cited slow economies in Europe, Asia and Latin America. It also said historically wet and cold weather across various regions curbed sales of soft drinks and overall consumer spending.
NEW YORK, July 9 (Reuters) – As General Mills Inc
rolls out a new Yoplait Greek yogurt in the United States, it is
also thinking about expanding abroad, its chief executive
officer said on Tuesday.
Yogurt is a roughly $65 billion market worldwide, and the
controller of the Yoplait brand is studying how it might enter
other markets, including China and India, General Mills CEO Ken
Powell told Reuters.
July 3 (Reuters) – Pepsi-Cola is still using caramel
coloring containing a chemical linked to cancer in rodents, a
report released on Wednesday showed, more than a year after the
beverage maker promised to phase it out.
The Center for Environmental Health said that PepsiCo Inc.
lagged its rival Coca-Cola in removing the
chemical, called 4-methylimidazole, or 4-MI.
(Reuters) – Constellation Brands Inc (STZ.N: Quote, Profile, Research, Stock Buzz), the world’s largest wine company, posted lower-than-expected quarterly earnings on Tuesday after higher grape costs hurt margins.
Yet the maker of Robert Mondavi and Ravenswood wines raised its forecast for the full fiscal year, saying more attractive financing terms for its recent beer acquisition should lead to lower interest expense.
(Reuters) – ConAgra Foods Inc (CAG.N: Quote, Profile, Research, Stock Buzz) on Thursday posted a quarterly profit slightly ahead of Wall Street estimates and raised its long-term outlook, citing increased cost-savings from its acquisition of Ralcorp Holdings.
ConAgra, whose shares rose 4.7 percent in early trading, closed its $5 billion purchase of Ralcorp in January, making it the leading U.S. manufacturer of “private label” foods, which retailers brand as their own. It also sells branded products, including Chef Boyardee pasta and Hunt’s ketchup.