Food Business News - November 22, 2011 - (Page 1)

November 22, 2011 FOODBUSINESS NEWS NEWS, MARKETS AND ANALYSIS FOR THE FOOD PROCESSING INDUSTRY ‘Conservatism’ identified as top shopper attitude CHICAGO — “Conservatism” has become the pervasive shopper attitude during the ongoing economic downturn, with 42% of consumers bringing food from home to school or work in an effort to save money and more than two-thirds of shoppers entering stores with readymade lists, according to a new report from SymphonyIRI Group, the Chicagobased market research firm. The report, “The downturn shopper: Buckled in for a wild and crazy ride,” found shoppers are continuing and extending their frugal practices, significantly impacting when, where and Continued on Page 10 Story on Page 28 INSIDE Dean Foods suffers $1.5 billion impairment charge DALLAS — A goodwill impairment charge related to the Dean Foods Co.’s Fresh Dairy Direct business led the company to record a loss of $1,540,497,000 during the third quarter of fiscal 2011, ended Sept. 30. This compared with net income of $24,296,000, equal to 13c per share on the common stock, in the same period a year ago. On an adjusted basis, Dean Foods earned $33,252,000, or 18c per Continued on Page 43 Meat prices are on the rise 2012 per capita meat and poultry consumption expected to decline to lowest level since 1990 B eef, pork and turkey prices are up sharply in the fourth quarter and for the year compared with yearago values, resulting in part from record high retail pork and choice beef prices in September, with firm prices forecast to continue into 2012 due mainly to strong demand, especially on the export front, and reduced supplies of red meat, according to the latest U.S. Department of Agriculture data. Meanwhile, total per capita red meat and poultry consumption is expected to decline to the lowest level since 1990, largely due to reduced domestic supplies, again largely the result of surging exports. Consumption of red meat and poultry in the United States in 2012 is now estimated to be 199.7 lbs per person, down 9 lbs from the 208.7 lbs recorded in 2010 and the lowest level since 1990, when it was 199 lbs, according to the latest U.S.D.A. World Agricultural Supply and Demand Estimates, which was published Nov. 9. Beef is projected to take the biggest hit, with per capita consumption dropping from Continued on Page 24

Table of Contents for the Digital Edition of Food Business News - November 22, 2011

Food Business News - November 22, 2011
‘Conservatism’ identified as top shopper attitude
Dairy Business News - Dean Foods suffers $1.5 billion impairment charge
Meat prices are on the rise
Editorial - Complexity of obesity issue must not be underestimated
Higher ingredient costs lead Smucker income lower
High Liner to acquire Icelandic U.S., Asian operations
Fitch predicts Unilever will continue to divest food brands
Sustainability is a minor food service trend
Penford to acquire Carolina Starches
Arnold D’Angelo to lead Richardson Brands
Innophos acquires Kelatron Corp.
ConAgra Foods to acquire private label pretzel baker
Nestle invests $13.6 million in Spain
Smithfield Foods to close Virginia plant
J.R. Simplot to build plant in Caldwell, Idaho
Kraft adding energy to MiO
Earnings, sales rise for TreeHouse Foods
International growth helps spur Starbucks earnings
Sara Lee steadily filling out organizational structure
Food and beverage C.P.I. inches up 0.1% in October
ADM to build biodiesel plant in Canada
Starbucks enters juice segment with acquisition
Pinnacle profit tops $12 million in third quarter
Andrew Ross to lead ConAgra’s strategic efforts
PepsiCo, Tingyi Holding form alliance in China
Sun Pac Foods acquired by private investment firm
Washington - Congress tries to override U.S.D.A school nutrition plan
New Product Trends - Finding discipline in weight management
Ingredient Innovations - Erasing dairy costs
Dairy Business News - Saputo earnings flat during second quarter
Dairy Business News - Irish Dairy Board buys U.S. cheese company
Dairy Business News - Lifeway Foods income up 14% in quarter
Dairy Business News - New culture range targets feta-type cheeses
Dairy Trends - Functional ingredient applications evolve
New Food Products - Krispy Kreme Doughnuts extends retail line
New Food Products - Hain Celestial introduces energy shots
New Food Products - Kraft to introduce belVita breakfast biscuits in U.S.
New Food Products - Armour launches reduced sodium pepperoni
New Food Products - New juice to offer three daily servings of vegetables
New Food Products - ConAgra Foods expands Rotel sauce line
New Food Products - Wendy’s debuts the ‘W’ cheeseburger
New Food Products - Kashi expands frozen entrees
Ingredient Market Trends
Ingredient Markets
Supplier Innovations and News - Europe approves use of stevia extracts
Supplier Innovations and News - Soy ingredients add value to meat
Supplier Innovations and News - Blend replaces guar gum
Supplier Innovations and News - Blue Diamond Almonds hires food scientist
Supplier Innovations and News - Pea protein isolate is soluble, heat-stable
Supplier Innovations and News - Grain Processing Corp. promotes v.p.
Supplier Innovations and News - Ingredients combine citrus fiber, stabilizer blends
Ad Index
Food Business in the News

Food Business News - November 22, 2011