Packaging Industry

Confectionery & Sweet Snacks

Orkla acquires Sweden-based confectionery maker Bubs Godis; purchase price not disclosed, deal expected to be completed in Q1
MarketLine (12/20)

Baked Goods

Kroger promoting a number of US$10 meal options for families of four as part of a holiday savings event running until Dec. 24; company also offering discounts on packaged meats, cheese, crackers, potato chips, sugar, eggs, baking mixes, cooking sprays
Grocery Dive (12/20)

Milk/Milk Alternatives

Visits to convenience stores for foodservice items like beverages and prepared foods up 2% year-over-year in three months ending in November, according to new report from The NPD Group; consumer spending on foodservice items at convenience stores up 8%
The NPD Group Inc. (12/20)

A.G. Barr acquires additional 38.2% stake in UK-based oats product company Moma Foods for £3.4B, giving A.G. Barr full ownership of the company
Alliance News (12/20)

Meat & Poultry

Tesco reportedly considering shutting down its 279 remaining fresh food counters next year; the supermarket closed meat, fish and deli counters in more than 300 stores earlier this year as part of a major overhaul
The Mirror (12/20)

Packaged Foods

GlobalData expects Japan's ice cream market to grow at 1.8% CAGR to US$6.4B in 2026, as lifting of COVID restrictions will stimulate sales, but sporadic virus outbreaks to continue disrupting out-of-home consumption of frozen desserts in immediate future
GlobalData Plc (12/20)

Nestle given permission from French health authorities to partially reopen a Buitoni factory at the center of a fatal E. coli outbreak earlier this year; the plant has been closed for the past nine months
just-food.com (12/20)

Non-Alcoholic Beverages

Global Market estimates global nonalcoholic beer market to be worth US$22B in 2022, and will double that in a decade; Mintel says younger consumers seem to be driving growth in nonalcoholic drinks, many of whom aren’t avoiding alcohol, but cutting down
The Canadian Press (12/20)

Abbott Laboratories plans to permanently stop selling infant formula in China; the company will discontinue the supply of baby-milk brands in mainland China throughout 2023 as the business instead gravitates toward the adult nutrition category
just-food.com (12/20)

Alcoholic Beverages

Bacardi's Dewar's 12-Year-Old Blended Scotch Whisky ranked fourth in Whisky Advocate's list of Top 20 Most Exciting Whiskies of 2022, with a rating of 94 points
PR Newswire (12/20)

UK government to keep its alcohol duty frozen for an additional six months to Aug. 1, 2023; the rates had been set to increase in line with inflation in February
just-drinks.com (12/20)

Cosmetics

Revlon will likely pursue debt restructuring that hands ownership to lenders, mostly wiping out stockholders, according to deal with two creditor groups; deal assumes Revlon will seek bankruptcy court approval for plan, exit Chapter 11 protection in April
Peninsula, The (Qatar) (12/20)

Los Angeles jury awarded US$11.3M in punitive damages, US$40.8 million in compensatory damages against Avon and forklift maker Hyster; plaintiff claims she developed mesothelioma after using Avon products containing talc and contaminated with asbestos
California Punitive Damages (12/20)

Soaps, Bath & Shower Products

Kao registers clinical trial with the University Hospital Medical Information Network for a moisturizing performance evaluation test of cleansing conditioners; study will measure water content of stratum corneum before and after conditioner application
Contify Life Science News (12/20)

Wipes/Towelettes

Scottish Water launches local campaign encouraging people to throw away wipes and sanitary products instead of flushing them; campaign follows two incidents this year causing blockages in the Bo’ness sewer network
The Falkirk Herald (12/20)

Personal Care

Henkel spins off its Russia business, following its exit from the country earlier this year; the Russian operation will change its name to Lab Industries from January and will act independently of the German group
Reuters (12/20)

Coty, Hugo Boss renew license agreement beyond 2035, including all scents for men and women; Hugo Boss to focus on US market in coming years, expand Boss women's fragrance share in key European markets, grow in specialty markets of Middle East, China
Business Wire (12/20)

Pet Care Products

Pet Supplies Plus earns spot on Franchise Business Review's lists for Best Franchise for Veterans, Most Profitable Franchise and Top 200 Franchise Opportunity; company boasts that its two percent royalty fee is the lowest among pet franchises
PSP Group LLC (Pet Supplies Plus) (12/20)

Pet Care

Pet Supplies Plus and Wag N' Wash announce collectively signing over 115 franchise agreements year to date; companies also sign first dual-branded multi-unit agreement, which will be for two Pet Supplies Plus stores and one Wag N' Wash location
PR Newswire (12/20)

Over-the-Counter (OTC) Products

InnerScope Hearing to integrate Australian medical device maker Nuheara’s FDA approved OTC self-fitting hearing aid technology into InnerScope’s HearingAssist and iHEAR OTC hearing aid branded products
NetworkNewsWire (NNW) (12/20)

Prescription Drugs

Walmart surpasses first threshold required for finalizing the company’s US$3.1B nationwide opioid settlement framework announced on Nov. 15; company now has settlement agreements with all 50 US states
Business Wire (12/20)

Novo Norkisk reports it expects its obesity drug sales to total more than 25.0B Danish krone by 2025; analyst predict sales of the drugs to exceed 48.0B Danish krone by 2025
M-Brain Nordic News (12/20)

Health Care, Pharmaceuticals & Wellness

FDA approves 'glowing tumor' imaging drug to aid lung cancer surgery; Cytalux pafolacianine injectable diagnostic binds to cancerous tissue and glows, making it easier for surgeons to remove tumors completely while sparing healthy tissue
ENP Newswire (12/20)

Vaxess announces its MIMIX flu vaccine patch passes early clinical test that links device to seroprotection rates of over 90%; patch may offer stronger, more durable immune response, eliminate need for refrigeration and simplify vaccine administration
FiercePharma (12/20)

Tobacco, Cannabis & Derivatives

Local governments in Missouri begin enacting 3% sales taxes on marijuana, enabled by recently approved state law that legalizes marijuana and allows local taxes
St. Louis Post-Dispatch (12/20)

New Jersey's legalized recreational cannabis sales total US$116.5M in July-September 2022; including medicinal cannabis, sales surpassed US$177M
NJBIZ (12/20)

Automotive & Driving

Magna to acquire Veoneer Active Safety business from SSW Partners for US$1.5B; combined business is projected to generate approximately US$3.0B in sales in 2024 and position Magna's ADAS business as a global leader
Magna International Inc. (12/20)

Ford releases first sustainable financing report providing update on allocation, impact of green bond investments; through August 31, 2022, 90% of net proceeds, or US$2.16B, have been allocated to clean transportation projects
Ford Motor Co. (12/20)

Agribusiness & Raw Foods

Corteva Agriscience announces collaboration with Nevonex to explore precision application of crop protection products using on-farm data, advanced analytics and spray equipment
PRWeb (12/20)

Calavo Growers narrows fiscal Q4 net loss to US$3.3M from year-ago loss of US$13M; total revenue falls 11% to US$243.6M
Globe Newswire (12/20)

Logistics, Shipping & Delivery

Commentary: FedEx, UPS to raise rates by 8%-10% in 2023, predicts shipping consultancy TransImpact; each company has unique challenges, as FedEx has been hit by double-digit labor cost increases, and UPS has Teamsters contract coming up for renewal
Talk Business (12/20)

Cowen sees supply chain bottlenecks that could tighten in 2023, including understaffed railroads, port workers' union not having finalized contract, China's reopening having unpredictable outcomes, UPS' contract with Teamster drivers expiring in July 2023
Business Insider (12/20)

Latest: Dec, 20 2022