April 15th, 2014
08:00 PM ET
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Hitting the grocery store is getting more costly.

Beef prices are at a record high, and the cost of other staples, such as milk, butter, eggs, fruit and vegetables are climbing. With a severe drought ravaging farms across most of California, prices are at risk of shooting significantly higher this year.
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Filed under: Business and Farming News • Disaster • Drought • Environment • Farms


Merger makes ChiquitaFyffes top banana
March 10th, 2014
09:02 AM ET
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U.S. banana producer Chiquita Brands International and Ireland's Fyffes have agreed to merge and create the world's largest banana company.

The combined company, to be known as ChiquitaFyffes, is set to displace privately-held Dole from the No. 1 spot.
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Holy guacamole, enough with the panicking!
March 5th, 2014
04:30 PM ET
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Could guacamole and some salsas become victims of global warming? Possibly, says Chipotle Mexican Grill.

The restaurant chain, in an annual report, listed drought and global weather change among a long list of business risks faced by the company.
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Filed under: Chipotle • Climate Change • Fast Food • Shortages • Sustainability


July 16th, 2013
06:00 PM ET
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McDonald's plans to open its first restaurant in Vietnam, the fast food company said Tuesday, making it the latest U.S. brand to move into the communist country that was once at war with the United States.

McDonald's says it has awarded a franchise for a location in Ho Chi Minh City that should open early next year.
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Fans irked by Twinkies shrinkage
July 15th, 2013
10:30 AM ET
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Twinkies are back, but some fans are upset than they're smaller than they remember.

Hostess Brands, the new company that bought the rights and recipes to make Twinkies, says the iconic snack food is the same size as it was last November, when the previous manufacturer went out of business.

But the fans aren't mistaken – for much of 2012, and in earlier years, a box of 10 Twinkies weighed 15 ounces. The boxes on store shelves now weigh 13.58 ounces.
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Twinkies returning to shelves this summer
June 24th, 2013
10:30 AM ET
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Good news Twinkies fans, your long-missing snack fix is due back on shelves on July 15.

The announcement was made by Daren Metropoulos, principal of Metropoulos & Co., one of the two companies that bought the rights to Twinkies and other snack brands from the bankrupt Hostess Brands earlier this year.
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Widespread food theft in German town
April 9th, 2013
03:00 PM ET
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What would you do with 5.5 tons of Nutella? Maybe the same thing you'd do with 34,000 cans of Red Bull or 5.5 tons of coffee.

Somewhere in Germany, there's a thief who knows the answer.

German police reported that 5,000 jars of the chocolate-hazelnut spread were stolen over the weekend from a former railway station in Niederaula. The jars of Nutella were valued at about $21,000.
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Oh, Twinkie hoarders, don't you feel all kinds of silly now?
March 12th, 2013
03:30 PM ET
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Twinkies and other Hostess snacks could be back on shelves by this summer after a successful $410 million bid for the business.

The winning bid is a joint venture by private equity firms Apollo Global Management (APO) and Metropoulos & Co. A statement from Dean Metropoulos, founder of one of the firms, confirmed they are the winning bidder.
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Filed under: Twinkies


You got Spam in my peanut butter!
January 3rd, 2013
11:00 AM ET
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Hormel Foods, the maker of Spam luncheon meat, is paying $700 million to buy the Skippy peanut butter brand from consumer products maker Unilever, the companies announced Thursday.

Hormel said Skippy has annual sales of $370 million, nearly $100 million of which comes from outside the United States. Skippy, which was first introduced in 1932, is the leading brand of peanut butter in China and the No. 2 peanut butter brand overall, behind only Jif, which is owned by J.M. Smucker.
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