Food and drink
Mars to acquire snack maker Kellanova in $36 billion deal
A box of Kellogg Co. Eggo brand frozen waffles is arranged for a photograph in New York. Tiffany Hagler | Bloomberg | Getty Images Mars will acquire Kellanova for $35.9 billion in cash, tying together some of the largest U.S. candy and snack brands, the companies announced Wednesday. The M&M owner Mars is acquiring the […]
Read More
Mars to acquire Cheez-It, Pringles-maker Kellanova in $36 billion deal
Packages of Pringles potato chips are displayed on a shelf at a market on April 5, 2011 in San Francisco, California. Diamond Foods Inc. has agreed to purchase Pringles chip operations from Procter & Gamble Co. for $1.5 billion, a move that will triple the size of its snack foods business. Justin Sullivan | Getty […]
Read More
Arsenal names Athletic Brewing as official nonalcoholic beer partner
Athletic Brewing Company is the official nonalcoholic beer partner of Arsenal F.C. Courtesy: Athletic Brewing Co. Athletic Brewing Company has scored a partnership with Arsenal, becoming the English soccer team’s first official nonalcoholic beer partner. Arsenal will feature Athletic Brewing’s Run Wild IPA at Emirates Stadium for both men’s and women’s matches, and Athletic Brewing […]
Read More
Kellanova stock climbs on reports of potential sale to M&M’s owner Mars
Signage for Kellanova outside the New York Stock Exchange on Sept. 5, 2023. AP Shares of Kellanova climbed 13% in morning trading Monday on reports of buyout interest. M&M’s owner Mars is in talks to acquire the snacking company, CNBC’s David Faber reported, adding rival candy company Hershey is also potentially interested in buying the […]
Read More
Johnnie Walker-maker Diageo plunges 10% on full-year sales decline, but Guinness a bright spot
John Morrissey serves pints of Guinness at a traditional Irish pub in Dublin on May 21, 2024, in Dublin, Ireland. Nurphoto | Nurphoto | Getty Images Shares of spirits giant Diageo tumbled more than 10% on Tuesday morning, after the Johnnie Walker-maker posted its first sales decline since the start of the pandemic. Shares were […]
Read More
McDonald’s executives admit diners think prices are too high, say they’re working to create value
A McDonald’s Big Mac meal. Lauren Decicca | Getty Images McDonald’s executives acknowledged Monday that diners consider the company’s prices too high as lower-income consumers balk after years of high inflation. During the company’s second-quarter earnings call Monday, executives said that they are taking a “forensic approach” to evaluating prices and trying to create value. […]
Read More
Keurig Dr Pepper earnings meet estimates as higher prices fuel U.S. soda sales
In this photo illustration, cans of Dr Pepper soda are displayed on June 03, 2024 in San Anselmo, California. Justin Sullivan | Getty Images Keurig Dr Pepper reported quarterly earnings and revenue that met analysts’ expectations on Thursday as higher prices fueled its U.S. soda sales. Shares of the company rose 2% in premarket trading. Here’s what the […]
Read More
Coca-Cola tops earnings estimates, hikes full-year outlook as global demand rises
Coca-Cola beverages are offered for sale in Chicago on April 30, 2024. Scott Olson | Getty Images Coca-Cola on Tuesday raised its full-year outlook as global demand for its drinks rose in the second quarter. For 2024, Coke now expects organic revenue growth of 9% to 10%, up from its prior forecast of 8% to […]
Read More
McDonald’s to extend $5 value meal in most U.S. markets as diners return to restaurants
In an aerial view, a customer walks by a sign as they leave a McDonald’s restaurant in San Pablo, California, on April 3, 2023. Justin Sullivan | Getty Images McDonald’s will extend its $5 value meal beyond its initial four-week window in most of its U.S. markets as the fast-food giant says the offer is […]
Read More
Reckitt’s baby formula sales to suffer after tornado damages Indiana warehouse
Enfimil infant formula, made by Mead Johnson Nutrition Co., sits on display in a supermarket in New York, U.S. Daniel Acker | Bloomberg News | Getty Images Sales of Reckitt‘s Mead Johnson baby formula powder are likely to take a short-term hit after a tornado damaged a third-party warehouse in the United States, the British […]
Read More