Coty will begin accepting bids for its professional hair and nail care unit including brands Wella, Clairol, Good Hair Day, OPI and others early next month. Potential bidders include Henkel, Unilever and several private equity firms with the sale expected to earn $7 billion to $8 billion.
In a nod to consumers' surging interest in plant-based foods, a group of investors and food experts has founded the Eat Beyond Global Investment Fund to connect retail investors with alternative food-makers around the world. The fund will initially raise roughly $3.7 million to $5.2 million, said Eat Global CEO Patrick Morris, to invest in up to 10 companies with 40% allocated to foodtech firms, 30% to plant-based food manufacturers and the balance for cellular agriculture, production and exploration.
Food and beverage producers aren't doing enough to solve the plastic waste crisis and need to be at the forefront of solving it, said Simon Lowden, PepsiCo's chief sustainability officer. "A company like Pepsi has a massive responsibility to, if not make a change, be a catalyst for change," said Lowden, adding marketing should address the problem to boost awareness.
Mondelez projects 3% growth for its snacks division this year, since "snacking is a growing behavior," said CEO Dirk Van de Put. He expects snacks will outpace other categories in sales with snacking occasions increasing 20%, as well as increasing interest in better-for-you and functional snacks creating opportunities for innovation.
Forward Footing has published its inaugural FoodTech 500 list of the most influential agtech companies, topped by aeroponic farm startup Aerofarms. Tipa, which makes biodegradable food packing, and Bowery Farming, which makes indoor farming solutions for growing produce, came in second and third, respectively.
Farmers for a Sustainable Future is a new coalition of 21 farm groups representing millions of growers across the US. The organization was created to be a resource to policymakers, the media and the public on solutions around sustainability and climate issues.
General Mills will leverage its data and analytics capabilities this year to decrease supply-chain costs by better anticipating demand, launch more consumer-inspired products and personalize marketing, said CEO Jeffrey Harmening. "We've established dedicated teams to guide these practices and share learnings around the world, enabling a global approach that can be customized for local needs," he added.
Procter & Gamble has appointed Paul Gama, vice president of personal health care North America, as global president of the division. He will assume the position April 1, overseeing brands such as Pepto-Bismol, Metamucil and NyQuil.
Kellogg is releasing two limited-edition RXBar Select bars each quarter this year on its website, allowing consumers a chance to sample different flavors, according to Jim Murray, RXBar president. The brand's first Select flavor is hot chocolate, and peanut butter banana will be launching in March.
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