Finances & Deals
Hormel Foods President John Ghingo said the company's protein-centric brand portfolio shows unique resilience amid weak consumer spending, achieving organic sales growth for six consecutive quarters. Approximately 70% of Americans want to increase dietary protein intake, and the popularity of GLP-1 drugs has further boosted demand. The company is capitalizing on protein growth opportunities across retail and foodservice channels through strategies such as portable packaging, snack-style products, and clear labeling.
Private equity firm CVC Capital Partners announced the acquisition of Irca, an Italian supplier of dessert and bakery ingredients, with the transaction amount undisclosed and expected to close in the fourth quarter of this year. Under Advent's ownership, Irca's revenue grew from €370 million in 2021 to €1.5 billion (approximately $1.7 billion) today, with operations spanning over 100 countries worldwide. This acquisition marks CVC's second deal in the ingredients industry within a month, following its earlier announcement of a $4.3 billion acquisition of IFF's food ingredients business.
TikTok Shop is becoming a new growth engine for the food and beverage industry, with its food category sales growing over 100% year-over-year. The platform not only provides a sales channel but also shortens the innovation cycle through the 'discovery commerce' model, enabling brands to quickly respond to online trends such as Dubai chocolate and freeze-dried candy. Based on an exclusive interview with Amanda Parker, Head of Food Business at TikTok Shop, this article analyzes how brands can use the platform to achieve a closed loop from content to commerce, and offers operational recommendations.
In March of this year, Hershey merged its confectionery, salty snack, and protein product businesses into a unified structure, aiming to strengthen relationships with retailers and consumers. Following the integration, Hershey has driven cross-category sales through a single point of contact, such as pairing Reese's with Dot's Pretzels in displays, achieving a 34% sales increase. Meanwhile, the company is advancing product recipe optimizations, including the return of the classic Reese's formula and a planned Kit Kat improvement by 2027, and has committed to removing artificial colors from its U.S. products by the end of 2027.
PepsiCo plans to expand the use of autonomous trucks in its North American supply chain through a multi-year partnership with Gatik, currently operating 41 autonomous trucks in Texas, Arizona, and Arkansas, aiming to optimize regional logistics networks and enhance service consistency.