J.M. Smucker Co. has paid $360 million for Miami-based Rowland Coffee Roasters, whose brands include Café Pilon, Café Bustelo, Café Oquendo, Medaglia d’Oro and El Pico brands. According to the South Florida Business Journal, a news release said Rowland’s 2010 revenue of more than $110 million makes it the nation’s largest coffee company marketing to […]
Tag: investing
Posted in, C-Store News, Southwest
United Supermarkets Opens First Convenience Store
United Supermarkets officially entered the convenience market with the ribbon cutting of its first United Express location at the southeast corner of 4th Street and Milwaukee Avenue in Lubbock on May 4. The location includes a six-pump fuel station and features fresh offerings along with the traditional items one would expect to find at a […]
Posted in, Corporate Store News, Southwest
Lowe’s acquires Super S Foods
by Rita Arnst Pay and Save Inc., dba Lowe’s from Littlefield, Texas, acquired the Super S Foods chain today. “The stores will be operated as Super S Foods/Lowe’s for a while. Nothing is going to change,” said James Hanson with Super S Foods public relations. “We are not going to change the signs initially, but […]
Posted in, National
US Wholesale Inflation Surged in February
According to a report on MSNBC.com, wholesale prices surged last month at their fastest pace in just over 1-1/2 years due to higher energy costs and the steepest rise in food prices in 36 years. Excluding those volatile categories, inflation was tame. The Labor Department said today that the Producer Price Index rose a seasonally […]
Posted in, From My Point of View, National
What’s Wrong With This Picture?
We are on a path that our government says will leave us $1,500,000,000,000 (one trillion, five hundred billion dollars) in debt for the fiscal year 2011. And in the same breath, our government tells us they need 193,000 new employees (The Atlanta Journal-Constitution, “Government Needs to Add 193,000 New Hires,” Jan. 16, 2011). Just the […]
Posted in, Suppliers, West
Del Monte Shareholders Approve Buyout
Del Monte Foods Co. said Monday that shareholders approved the company’s buyout by private equity investors KKR, Vestar Capital Partners and Centerview Capital, reports the San Francisco Business Times. The deal, reached on last Thanksgiving Day, is expected to close this week. The buyout was approved by 99 percent of shareholders voting, with 149.8 million […]
Posted in, National, Suppliers
Heinz to Acquire Brazilian Firm
H.J. Heinz Co. announced a major gain March 3 in its push into emerging markets—the purchase of an 80 percent stake in a Brazilian food company, reports The Associated Press. Heinz, the world’s largest ketchup maker, has relied recently on emerging markets like China, India and Russia to fuel its growth. Its plan to acquire […]
Posted in, Southeast
Fresh Del Monte Reports Q4 Loss
Bad weather continued to pound at Fresh Del Monte Produce bottom line, reports the South Florida Business Journal. The Coral Gables-based fruit and vegetable producer said it lost $9.6 million, or 16 cents a share, in the fourth quarter, down from a profit of $28.2 million, or 44 cents a share, in the same year-ago […]
Posted in, Beverage News, Southeast, Suppliers
Coca-Cola Buys Remainder of Honest Tea
The Coca-Cola Co. has exercised its option to acquire the remaining 60 percent of Maryland-based organic bottled tea maker Honest Tea, reports The Atlanta Journal-Constitution. The companies described it Tuesday as a chance to make organic drinks more mainstream. What they didn’t say is that it also may be a chance to invigorate Coca-Cola’s tea […]
Posted in, Beverage News, Southwest, Suppliers
Molson Coors 4Q Net Declines as it Sells Less Beer
Denver-based Molson Coors Brewing Co. says its net income fell 51 percent in the fourth quarter as it sold less beer and dealt with rising costs for taxes, ingredients and fuel. The Denver-based brewer reported Thursday that it earned $109.8 million, or 58 cents per share, for the quarter that ended Dec. 25. That’s down […]
Posted in, Beverage News, National, Suppliers
PepsiCo 4Q Net Income Falls
New York-based PepsiCo Inc.’s fourth-quarter net income fell 5 percent because of higher costs and cut its earnings forecast on a dim view of the economy. Shares of the maker of soft drinks, Frito-Lay snacks and Quaker cereal fell nearly 3 percent in pre-market trading. Net income fell to $1.37 billion, or 85 cents per […]