Food Business News - June 18, 2013 - (Page 16)

Tyson Foods expands prepared foods portfolio with acquisition SPRINGDALE, ARK. — Tyson Foods, Inc. has acquired Circle Foods L.L.C., San Diego, from Claridge, Inc., a private equity investment company headquartered in Montreal. Circle Foods is a manufacturer of frozen and refrigerated handheld Mexican foods, uncooked tortillas and Indian flatbreads. Terms of the acquisition were not disclosed. Circle Foods manufactures products under the Nuevo Grille, TortillaLand and Rotiland brands. The company has a 159,000-square-foot facility in San Diego and employs approximately 600. The plant produces burritos, chimichangas, enchiladas, quesadillas, tacos and tamales, as well as tortillas and Indian flatbreads. “Claridge and the Circle Foods team have developed an outstanding portfolio of products and customers, with a fantastic plant and work force, and will be an excellent fit within our branded consumer products group,” said Donnie Smith, president and chief executive Sethness focuses purely on Caramel Color. So naturally, we offer the highest-quality Caramel Colors on the market today, including a versatile range of Class I and Organic Caramel Colors. Produced from ingredients found in nature, our Caramel Colors are commonly used in all-natural food and beverage formulations. No dyes, no preservatives. Just Caramel Color that has been expertly formulated to deliver just the right color for your most challenging applications. The choice in Caramel Color is pure and simple because Sethness is Caramel Color. 16 FOODBUSINESS NEWS ® fi fT F d “W b li T officer of Tyson Foods. “We believe Tyson’s robust sales structure, as well as our frozen and refrigerated foods distribution system, will enable this business to accelerate its growth.” Tyson Foods management has been open about the fact it wants to expand its prepared foods offerings. In early February the company acquired Don Julio Foods, Clearfield, Utah, a manufacturer of flour and corn tortillas, potato chips, tortilla chips and pretzels. A few weeks later, Dennis Leatherby, Tyson Foods’ chief financial officer, said expanding the company’s value-added offerings was a goal. “Value-added is currently about a third of our sales, and keep in mind that includes food service as well as retail, branded products,” Mr. Leatherby said at the Goldman Sachs Agribusiness Conference on Feb. 26. Looking ahead to 2014 he said Tyson Foods expects to grow its total sales by 3% to 4% annually and value-added sales by approximately 6% to 8%. During fiscal 2012, ended Sept. 29, 2012, Tyson Foods had revenues of $33,278 million. FBN June 18, 2013

Table of Contents for the Digital Edition of Food Business News - June 18, 2013

Food Business News - June 18, 2013
Diamond Foods challenged by walnut supply and Emerald relaunch
Market Insight: Mid-year commodity outlook
Fruitful ice cream options
Table of Contents
Web Contents
Editorial - Proposed SNAP cuts will be felt throughout the food sector
Flavored milk to grow at double the rate of white milk
Smucker exits bulk coffee, remains bullish on K-Cups
C.e.o. in unsolicited takeover bid for Dole
Heinz acquisition completed, new c.e.o. takes over
Mondelez to offer coffee pods compatible with rival’s system
Tyson Foods expands prepared foods portfolio with acquisition
Nielsen honors Breakthrough Innovation winners
Taco Bell taking charge of breakfast
Expanded breakfast helps lift McDonald’s May sales
McCormick & Company sees growth ahead from innovation and acquisitions
Wal-Mart doubles-down on fresh produce promise
Morningstar buy may be just the beginning for Saputo
Target delves deeper into organics
PepsiCo hires chief marketing officer
Wenner sees winner in Pirate Brands acquisition
Single-serve coffee' harbinger of things to come at TreeHouse'
Washington - Senate passes farm bill, stage set for debate over SNAP cuts
Sports Nutrition - Improved performance
Ingredient Innovations - Diverse Dynamos for Digestion
I.F.T. to convene in Chicago
New Food Products
Ingredient Market Trends - Imports from Mexico send U.S. sugar stocks to record highs
Ingredient Markets
Supplier Innovations and News
Ad Index
Food Business in the News

Food Business News - June 18, 2013