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Cold storage company Lineage Logistics received a $700 million investment from Stonepeak Infrastructure Partners, D1 Capital Partners and current Lineage investors. The investment represents a significant minority ownership interest in the company and will help Lineage accelerate its future innovation and growth. Full Story
JBS USA suspended shipments from a Tosh Farms site in Simpson County, KY, after a video was released showing the mistreatment of its pigs. Tosh Farms claims several actions shown in the video violate its policy, and it will re-train its staff immediately, reported CBS News. Full Story
The global caffeine-based drinks market is expected to grow at a CAGR of nearly 6% through 2022, according to Technavio. One of the key drivers for the market will be increasing urbanization and changing lifestyles. Full Story
Italy-based Illycaffe reportedly attracted the interest of JAB Holding Co. and Nestle SA but has so far rebuffed approaches, according to people familiar with the matter. Bidding for Illy would likely start at around three times its revenue, or about $1.6 billion, according to an analyst at Kepler Cheuvreux. Parent company Illy Group is seeking a financial partner for its other activities by 2019 and may decide on an initial public offering of its chocolate and tea units, reported Bloomberg. Full Story
Premier Foods' CEO says the company is open to selling assets at the right price. Premier recently undertook strategic reviews that included exploring the possibility of selling assets. As part of the review, Premier held "exploratory discussions" with Japan's Nissin Foods about selling Batchelors soups, but nothing materialized, according to Premier's CEO, reported Reuters. Full Story
Post, General Mills and Kellogg breakfast cereals won't be required to carry cancer warnings, according to a California state appeals court ruling. The ruling ordered dismissal of a suit seeking to require warnings on 59 cereals sold by the three companies. The court noted that while cereals contain the chemical acrylamide, requiring warnings on all foods containing the chemical at levels that pose any risk of cancer "would cause many otherwise healthy foods to appear to consumers to be unhealthful," reported San Francisco Chronicle. Full Story
Monster Beverage Corp. settled a class action lawsuit alleging the company labeled some of its beverages as "natural" although they contained artificial ingredients. The company denies all claims and liability but will compensate customers with a cash reimbursement for Hansen's Natural Juices, Hansen's Smoothie Nectars, Hubert's Lemonades and Hubert's Half & Half Lemonade Teas, reported Bizwomen. Full Storyread more
The Food Institute and asset solutions partner Harry Davis & Company are teaming up to deliver a free webinar on June 19 entitled “Understanding Your Assets: Expert Strategies for Food & Beverage Processors.” They will explore what value food manufacturers may be leaving on the facility floor, the basics of asset management, the various scenarios for valuing your assets, and a suite of strategies to maximize your assets’ value.
While the restaurant sector is projected to make $799 billion in annual sales, major restaurant chains are facing challenges from smaller, independent operators as well as grocery stores that now offer prepared foods.read more
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