Food Business News - January 15, 2013 - (Page 1)

FOODBUSINESSNEWS January 15, 2013 NEWS, MARKETS AND ANALYSIS FOR THE FOOD PROCESSING INDUSTRY Hormel Foods may let Extreme makeover: Skippy out of the jar AUSTIN, MINN. — Domestic innovation opportunities combined with international market expansion are at the heart of the strategic fit Hormel Foods sees in adding the Skippy brand of peanut butter to its product portfolio. Hormel announced Jan. 3 an agreement with Unilever to acquire the Skippy brand for $700 million. “We feel this transaction will enhance our balanced business model in a number of ways,” said Jeffrey M. Ettinger, chairman, president and chief executive offi cer, of Hormel Foods, in a conference call with fi nancial analysts. “First, it adds a signifi cant and valuable new franchise to two of our reporting Continued on Page 15 Beverage texture: growing challenge age consistency. But for the most part, many consumers don’t think about a beverage’s texture or mouthfeel unless it is offensive, which may be the case with too much pulp, or a gritty smoothie or slimy milk. P Managing texture and mouthfeel is particularly challenging in better-foryou beverages, such as those reduced in fat or sugar, or enhanced with nutrients such as fi ber, protein, vitamins and minerals. Consumers expect nutritionally adjusted beverages to deliver the same Continued on Page 31 ulp or no pulp? The pulp option in orange juice indi cates consumers do have preferences about bever- Market conditions keep lid on corn sweetener prices orn refi ners found securing price increases for 2013 contracts for their various corn sweetener products an uphill battle over the past few weeks, not because of the long-running debate about health concerns or nomenclature but because of market conditions C for their primary competitor — sugar. Much of the business for corn sweetener products — 42% and 55% high-fructose corn syrup, regular corn syrup, dextrose and others — is done on an annual contract basis. A number of corn refi ners send letters with initial offering prices to potential buyers early in the fall and the negotiating period begins. While dates and times may vary year-to-year based mostly on market conditions, both buyers and sellers generally hope to have new contracts completed before the Christmas break. For the most part, that timing played out this year, but the pricing aspect hit some bumps along the way. Corn refi ners sought price increases of about 4¼c a lb from 2012 contracted levels in their initial offer letters last fall. That Continued on Page 22 FOOD SAFETY edition An inside look at the F.D.A.’s sweeping proposal Story on Page 18 ®

Table of Contents for the Digital Edition of Food Business News - January 15, 2013

Food Business News - January 15, 2013
Hormel Foods may let Skippy out of the jar
Beverage texture: growing challenge
Market conditions keep lid on corn sweetener prices
Table of Contents
Web Contents
Editorial - Food safety déjà vu
JBS to acquire Canadian meat processing operations of XL Foods
Bioengineered labeling bill proposed in New Mexico
New name, location for Smart Balance
Heat, extreme weather defined 2012
Leaders of the snack pack highlighted in report
Sunland gets partial go ahead to operate from F.D.A.
Technomic: Healthy eating changes shape
Employees at Pinnacle Foods plant vote to strike
Smith Dairy taps new president
Innophos acquires Triarco Industries for $46 million
Butterball acquires Illinois pork processor
Inventure to produce Vidalia branded snacks
Target takes aim at groceries in new national ad campaign
Hillshire Brands hires corporate strategy leader
Acquisition expands Agropur’s ingredient portfolio
Consortium to acquire banners from Supervalu
Color, graphics may enhance nutrition data comprehension
Drought, acquisitions hamper Cal-Maine earnings
Alternative dairy beverage market is growing
Organic Avenue sells controlling interest to investment firm
Restaurant operator identifies conflicting market challenges
Washington - Extreme makeover: Food Safety edition
Farm-to-table F.D.A. extends preventive approach to food safety to the farm
Flavors - Ethnic flavors remain on trend
Ingredient Innovations - Starches for simple solutions
New starch works with coatings, baked foods
New Food Products
Ingredient Market Trends - Winter wheat seedings up just 1% from 2012
Ingredient Markets
Supplier Innovations and News
Ad Index
Food Business in the News

Food Business News - January 15, 2013