Industry News
Consumer Packaged Goods
Top stories summarized by our editors
8/4/2020

Nestle and Chase Design Groups have redesigned its ready-to-drink Nesquik line with a cleaner look and the Quiky bunny mascot as a silhouette to broaden the brand's appeal and demonstrate brand evolution, said Nick Leebert, associate creative director at Chase Design. Neil Sadler, Nestle's US head of design, said the rebrand repositions Nesquik as a "bold, brave and modern challenger brand that will increase its appeal to consumers of all ages and accelerate our RTD brand growth."

8/4/2020

7-Eleven is closing on its largest acquisition yet by agreeing to purchase roughly 3,900 Speedway stores in 35 states from Marathon Petroleum for $21 billion, said Joe DePinto, 7-Eleven CEO. The deal will increase 7-Eleven's store count to approximately 14,000 and expand its push into the Midwest and eastern US, he added.

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Candy & Snack Today
8/4/2020

German chemicals company BASF and UK-based Tropic Biosciences have entered a research agreement to use the latter's Gene Editing induced Gene Silencing technology to develop agricultural traits in the former's strategic crop varieties. "Our aim is to help farmers increase productivity and improve sustainable environmental practices for tropical crops by applying cutting-edge gene editing technologies," Tropic Biosciences CEO Gilad Gershon said in a statement.

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Tropic Biosciences
8/4/2020

B&G Foods' net sales grew 38% for the second quarter ending June 27, with some brands such as Mama Mary's, Joan of Arc and Bear Creek doubling in sales and its Amazon sales soaring 340% compared to the same period in 2019, said CEO Kenneth Romanzi. The company expects in-store and online demand to remain strong, as "the post-pandemic world is not going to be the same as the pre-pandemic world," Romanzi added.

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Mama Mary
8/4/2020

General Mills is partnering with palm oil producer Musim Mas to help 1,000 independent farms in Indonesia adopt sustainable practices to curb deforestation. General Mills will fund the first year of the two-year initiative, which covers a wildlife reserve home to the world's largest orangutan habitat.

8/4/2020

Nestle will not retreat from the out-of-home market, which includes its confectionery and ice cream products, but instead plans to adapt to its changing structure, said CEO Ulf Mark Schneider. The company is strategizing how to "embed our products and services into some of these new delivery services that are showing explosive growth," he said.

8/4/2020

Banana Wave has added a flavor to its dairy-alternative milk line: Banana Wave Mango. The brand features a banana-oat milk blend and is available in multi-serve cartons for four flavors and a single-serve size for its chocolate and original flavors.

8/4/2020

Drink product debuts include High Brew Coffee's Nitro Cold Brew Black variety while Perfect Hydration is releasing its alkaline water in 16-ounce cans in December. Bizzy Cold Brew is adding breakfast and espresso blends to its multi-serve, ready-to-drink range, and Coffee-Mate's Natural Bliss line is launching two seasonal flavors: Mint Truffle and Caramel Toffee Almond Milk.

8/4/2020

Farmer Business Network has now raised $250 million during its Series F round, which was led by investment management firm BlackRock. Bloomberg estimated the current finding values for the Farmer Business Network are approximately $1.75 billion.

8/4/2020

James MacDonald, a professor of agricultural and resource economics at the University of Maryland, published data that looked into trends in agriculture consolidation between 1982 and 2017. MacDonald found technology was significant in the consolidation process, because new techniques and tools often have large upfront expenses that can cut costs in the long term, meaning that larger farming operations can more easily implement these technologies.

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University of Maryland

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