Entities affiliated with Rhone Capital will acquire Brazilian steakhouse chain Fogo de Chao for $560 million. The acquisition is expected to facilitate Fogo’s international and domestic expansion plans.
The Middleby Corp. acquired Hinds-Bock Corp., a manufacturer of equipment for filling and depositing bakery and food products. The acquisition allows Middleby to offer a customized and complete integrated solution for high volume baking and processing.
Conagra to sell business in Canada for $34 million.
Walmart’s online sales growth slowed during the holiday season and the retailer will focus more on courting new customers for its main e-commerce site and less on marketing Jet.com. Despite the slower growth, the retailer also announced it will double the number of US stores offering online pickup this year.
From uncured to bold flavors and snack packs, processed meat products are meeting consumer demand for a broader range of tastes and eating occasions.
Thirty-five percent of pets are owned by Millennials, who have a projected income of $3.39 trillion this year. Three-fourths of Americans in their 30s own a dog and over half own a cat, compared to 50% of the overall population with dogs, and 35% with cats.
No bones about it, broth is hot. Three years ago, the New York Times ran a story about bone broth that unleashed a continuing flood of articles and media reports testifying to the breakout status of the humble liquid.
Boise, Idaho-based Albertsons, which operates stores across 35 states and the District of Columbia under 19 banners including Safeway and Vons, is close to acquiring the roughly 2,000 Rite Aid stores.
Texas grocer H-E-B is the latest food retailer to acquire a delivery service, announcing that Austin, Texas-based Favor Delivery will become a wholly owned subsidiary.
Wheat futures fell Tuesday on forecasts of increased moisture helping parts of the dry southern Plains crop. The soy complex was higher as analysts examined forecasts that could cut crop yield potential in Argentina.