Food Business News - September 25, 2012 - (Page 1)

FOODBUSINESS NEWS NEWS, MARKETS AND ANALYSIS FOR THE FOOD PROCESSING INDUSTRY September 25, 2012 ® ConAgra net soars on acquisitions OMAHA, NEB. — Acquisitions and one-time investment gains contributed to a 167% increase in income during the first quarter for ConAgra Foods, Inc. Adjusted for special items, the company said earnings were up 42%. For the quarter ended Aug. 26, the company had income of $250.1 million, equal to 61c per share on the common stock, which compared with income of $93.8 million, or 23c per share, during the same quarter of the previous year. Sales for the quarter were $3,311.9 million, up Continued on Page 20 Beef Products, Inc. strikes back KANSAS CITY — In a 250-page filing, lawyers for Beef Products, Inc., Dakota Dunes, S.D., detailed what the company alleges is a pattern of misconduct by ABC News that caused BPI significant financial losses and damaged the company’s reputation. The company filed a defamation lawsuit Sept. 13 against ABC News alleging the network’s news coverage of lean finely textured beef misled consumers to believe the product was unhealthy and unsafe. Named in the lawsuit were: television news anchor Diane Sawyer; senior national correspondent Jim Avila; ABC News correspondent David Kerley; Gerald Zirnstein, a former U.S. Department of Agriculture employee who claims to Continued on Page 22 Chaos in the yogurt aisle Story on Page 41 Energy drinks under the microscope he proliferation of energy drinks and their growing popularity especially among young adults and even adolescents has raised questions regarding whether they should be regulated and prompted recent exchanges between two U.S. senators and the U.S. Food and Drug Administration. In a Sept. 11 letter to Margaret Hamburg, commissioner of the F.D.A., Senators Richard Durbin of Illinois and Richard Blumenthal T of Connecticut expressed concerns that energy drinks with high levels of caffeine, often in combination with other ingredients that also may have stimulant effects, such as tuarine, guarana and ginseng, may be harmful to the health of young consumers. The senators urged, among other things, that the agency “assert its regulatory authority over caffeine levels in energy drinks marketed as beverages.” The F.D.A. indicated in an Aug. 10 letter to Mr. Durbin that it soon will provide a “final guidance” to industry on how to appropriately categorize and label energy drinks even as the agency continues to assess reports on health effects of high levels of caffeine. Energy drinks have been on the F.D.A.’s radar screen for some time. In its “Draft guidance for industry: factors that distinguish liquid dietary supplements from beverages, considerations regarding novel ingredients, and labeling for beverages and Continued on Page 32

Table of Contents for the Digital Edition of Food Business News - September 25, 2012

Food Business News - September 25, 2012
ConAgra net soars on acquisitions
Beef Products, Inc. strikes back
Energy drinks under the microscope
Table of Contents
Web Contents
Editorial - Literature review highlights myth surrounding herbicides, pesticides
Zein Abdalla named president of PepsiCo, Inc.
B&G Foods to acquire brands from Chipita America
Rabobank warns ‘agflation’ on the rise
Itochu Corp. to acquire Dole Food businesses
F.D.A.: Too early to know if action needed on arsenic in rice
McDonald’s adding calorie counts to menus
Monogram Food Solutions buys corn dog maker
Pepperidge Farm Innovation Center opens
Coca-Cola completes senior leadership roster
New York approves large soda ban
Cargill, DSM discussing cultures business sale
Hershey to acquire rest of Indian j.v. partner
Starbucks debuts single-cup brewer
International unit helps drive General Mills’ income up 35% in quarter
Obesity rate may exceed 60% in 13 states by 2030
Niche category leadership propels Hormel Foods
Market Insight - Lower cocoa, sugar prices weigh on milk chocolate bar index
Washington - Energy drinks under the microscope
Citrus Flavors - When an orange isn't just an orange
Ingredient Innovations - Polyoils assist in cutting calories in menu items
Dairy Business News - Chaos reigns in the yogurt aisle
Dairy Business News - ConAgra launches Healthy Choice Greek frozen yogurt
Dairy Business News - SensoryEffects, Arps Dairy enter licensing agreement
Dairy Business News - Rabobank ranks 20 top global dairy companies
Dairy Business News - Hershey unveils $300 million plant expansion
Ethnic Flavors - Trending toward the exotic
Dairy Business - Infant nutrition at heart of Nestle growth strategy
Dairy Business News - General Mills sharpens Yoplait's focus
New Food Products
Ingredient Market Trends - Winter wheat planting under way
Ingredient Markets
Supplier Innovations and News
Ad Index
Food Business in the News

Food Business News - September 25, 2012