Food Business News - Jun 12, 2007 - (Page 1)

FoodBusinessNews ® NEWS, MARKETS AND ANALYSIS FOR THE FOOD PROCESSING INDUSTRY Pope cites acquisitions as driver for Smithfield Foods June 12, 2007 Coca-Cola acquires Glaceau, enters pact with Campbell's 18 Counting calories 30 Mas cheese please ATLANTA - The Coca-Cola Co. acquired Energy Brands, Inc., which is more commonly known as Glaceau, and its water brands for $4.1 billion in cash. "Glaceau has built a great business with high-quality growth, as well as a strong pipeline of innovative products and brands," said Neville Isdell, chairman and chief executive officer of The Coca-Cola Co. "We envision even faster growth for Glaceau as part of Coca-Cola's enhanced range of brands for North American customers and consumers." Coca-Cola believes the acqui- sition will expand its ability to meet consumers' needs in the sparkling and still beverages segment. Glaceau will exist as Continued on Page 16 40 MARKET WATCH Agriculture anxious about fate of immigration reform Setback in the Senate leaves industry in limbo Shipments in April 2007 were down 36% from last year. WASHINGTON - The Senate debate on the Comprehensive Immigration Reform Act of 2007 (S.1348) was loud and contentious the week following the Memorial Day break. The "grand bargain," as the measure has come to be known, was hammered out by an alliance of Republican and Democratic senators and aimed to provide a road to legal status for millions of undocumented immigrant workers while tightening border controls and security. It also would establish a new "temporary" worker program to fill the need for labor currently not filled by American-born workers. The bill drew fire from both the political right and the left and opponents successfully blocked efforts to bring the measure to a vote, leaving the fate of immigration reform murky. The collapse of the current effort to enact immigration reform may have dire effects on agriculture, as undocumented workers account for most of the workforce that harvests fruits and vegetables in California, Texas and Florida, and even in the North and Northeast. Agriculture requires a dependable, stable Continued on Page 26

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Food Business News - Jun 12, 2007