Market News
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“Food and beverage companies have been taking action to decrease their energy usage footprints in several ways. They can be active or passive in nature.”
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“Vita Coco has become one of the fastest-growing players in the better-for-you beverage space as consumers keep a close watch on what they eat and drink, a trend that has accelerated during the ongoing pandemic. Vita Coco posted net sales of $311 million in 2020, an increase of 9% from the same period a year earlier.”
Source…
fooddive.com
From its birth in a bar to an IPO, Vita Coco sets its sights next on dominating healthy beverages
Co-CEO Mike Kirban said his company, which grew sales 9% in 2020, is looking toward innovation and M&A to expand its portfolio of better-for-you, functional and plant-based drinks.
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“Manufacturer of renewable packaging solutions, Stora Enso, has invested €97 million to expand board production at its Skoghall site in Sweden.
In addition, the company will also initiate a “pre-feasibility study to convert the second, currently idle, line at its Oulu site in Finland, into a packaging board line”. “
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“Nestlé has expanded its KitKat offering in the UK with the launch of a seasonal caramelised biscuit flavour.
The new limited-edition variant features milk chocolate with “warm caramel notes and flavours of cinnamon and spice”, alongside the brand’s trademark crisp wafer.”
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“George Weston has signed an agreement to sell its Weston Foods fresh and frozen bakery businesses to affiliated entities of FGF Brands in a CAD 1.2 billion ($970.6 million approx.) deal.
The company announced earlier this year that it had decided to divest its bakery segment in order to focus on its retail and real estate units.”
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