All articles tagged with #snack foods
Weird History Food delves into the 1980s to uncover some surprising facts about popular snack foods of the era, including Famous Amos cookies, Jell-O Pudding Pops, and Smurf Berry Crunch, inviting readers to take a nostalgic trip down food memory lane.
Food giant JM Smucker has acquired classic US snack maker Hostess Brands in a $5.6 billion deal, adding an iconic sweet snacking platform to drive continued growth. Hostess, known for brands like Twinkies and Donettes, had attracted interest from other major food brands including PepsiCo and General Mills. The deal is expected to be completed in the third quarter of Smucker's current financial year. Hostess, which filed for bankruptcy in 2012 but was saved in 2013, has seen its shares rise by over 19% following the announcement, while Smucker's shares closed 7% lower.
Kellogg Co.'s board of directors has approved the company's split into two independent, publicly traded companies. The split, effective October 2, will result in WK Kellogg Co. focusing on cereals in North America, while Kellanova will focus on snack foods and growth opportunities in foreign markets. Kellogg Co. will be renamed Kellanova after the split. The snack food business, including brands like Pringles and Pop-Tarts, accounts for the majority of the company's revenue. The projected net sales for Kellanova in 2024 are $13.4 billion-$13.6 billion, while WK Kellogg Co. projects net sales of $2.7 billion.
Kellogg Co. announced that its planned split into two companies, WK Kellogg Co. and Kellanova, is set to be finalized in Q4 2023. WK Kellogg Co. will focus on cereals in North America, while Kellanova will focus on snack foods and growth opportunities in foreign markets. Kellogg's snack food business, including brands like Pringles and Pop-Tarts, generates the majority of the company's revenue. The company aims to increase its global market for its snack business, particularly in emerging markets. Kellogg will keep its plant-based food business, MorningStar Farms, and expects flat sales growth for WK Kellogg Co. due to the decline in cereal consumption in the US. The plant-based meat industry is expected to consolidate, and Kellogg anticipates better days for MorningStar Farms. Food packaging industries may face pressure to improve volume sales as food price inflation levels off in 2024.