S&P Cuts Kraft Heinz Rating to Near Junk Grade
The rating agency believes Kraft Heinz "will be unable to meaningfully grow adjusted EBITDA" amid "significant" competition from other manufacturers.
Kraft Heinz Names Marketing Expert as CEO
The packaged-foods giant appears to be pivoting toward growth rather than cost cutting in replacing Bernardo Hees with Miguel Patricio.
Kraft Heinz Protects Profit With Price Hikes
The company offset rising input costs in Q2 by raising prices of its packaged foods and condiments by 1.3 percentage points.
Conagra, Pinnacle to Create Frozen Food No. 2
Conagra's $8.1 billion acquisition of Pinnacle furthers its push into a sector that has been a "rare bright spot" for the packaged foods industry.
New Blue Apron CFO is PepsiCo Veteran
Blue Apron is hoping its new CFO, a consumer packaged foods veteran, can help "drive strong and sustainable growth."
Kraft Heinz Sales Fall for 8th Quarter in a Row
The company's profits were boosted by higher pricing but analysts are skeptical it can increase sales as consumers shy away from processed foods.
Conagra Boosts Guidance Despite Rising Costs
The company has been able to offset higher supply chain costs by cutting back on discounts and other expenses.
General Mills to Feed Pets With $8B BLUE Buy
The acquisition of Blue Buffalo "provides General Mills with the leading position in the large and growing wholesome natural pet food category."
Kraft Heinz U.S. Sales Drop Hits Q4 Earnings
“There's no question that our financial performance in 2017 did not reflect our progress or potential,” CEO Bernardo Hees says.
McCormick Posts 9% Sales Gain, Earnings Beat
"McCormick is increasing its marketing spending and innovation, along with increasing prices, to help drive sales growth."
Weak Yogurt Sales Add to General Mills’ Woes
The company's sales fell for a ninth straight quarter, reflecting consumers' shift from packaged foods to fresh, organic products.