Food Business News - Mar 02, 2010 - (Page 1)

March 2, 2010 FOODBUSINESS NEWS NEWS, MARKETS AND ANALYSIS FOR THE FOOD PROCESSING INDUSTRY Coca-Cola to acquire C.C.E.'s North American operations ATLANTA - The Coca-Cola Co. and its bottler Coca-Cola Enterprises have agreed to strategically align their operations with Coca-Cola acquiring the North American operations of C.C.E. In turn, C.C.E. plans to acquire Coca-Cola's bottling operations in Norway and Sweden, and will have the right to acquire CocaCola's German bottling operations in 18 to 36 months. Coca-Cola called its acquisition of C.C.E.'s North American operations "substantially cashless," but it includes consideration of Coca-Cola's 34% equity ownership of C.C.E. which is valued at Continued on Page 10 Food prices forecast to rise in 2010 WASHINGTON - Food price inflation in 2010 should range between 2.5% and 3.5%, up from 1.8% in 2009 but down from a multi-year high of 5.5% in 2008, said Ephraim Leibtag of the Economics Research Service of the U.S. Department of Agriculture. The forecast range for 2010 was in line with the average rate of food price inflation registered during the recent 10 years (2000-2009) at 2.9%. Dr. Leibtag presented his forecast on Feb. 18 during the U.S.D.A.'s 2010 Agricultural Outlook Forum. Dr. Leibtag said the spike in food price inflation in 2008 resulted from higher agricultural commodity costs, higher Continued on Page 24 Campbell focuses on improving condensed soup line Earnings rose 11% during the second quarter of fiscal 2010 CAMDEN, N.J. - Campbell Soup Co. has announced plans to enhance more than 60% of its condensed soup line with product improvements, further sodium reduction, more contemporary packaging, improved shelving systems and new marketing aimed at the simple meals category. "We are committed to accelerating the performance of our existing portfolio, most notably in U.S. soup, and continuing to lay the foundation for superior long-term growth," said Douglas R. Conant, president and chief executive officer. "We are going to fire up our important condensed soup business and step up the competitive posture of our ready-to-serve products to accelerate both our top- and bottom-line growth." The condensed soup line generated more than $1 billion in net sales in fiscal 2009, and the upcoming plans are designed to Continued on Page 17

Table of Contents for the Digital Edition of Food Business News - Mar 02, 2010


Food Business News - Mar 02, 2010