October 10, 2025

Please see below for a listing of what the North Point Food & Beverage Team has been tracking this week. We hope that you find the content insightful and a nice way to summarize the most noteworthy Food & Beverage events of the week.

Have a nice weekend!

Glen Clarke

Head of Food & Beverage

—

Avance makes strategic investment in Barchemy.

• Avance Investment Management announced a strategic partnership with Barchemy, LLC, a leading developer and manufacturer of better-for-you chocolate and confectionery ingredients serving the nutritional bar, bakery, confectionery, and ice cream industries.

Source: Mergermarket

—

Mars’ USD 36bn Kellanova deal nears EU antitrust approval – report.

• Mars’ proposed USD 36bn acquisition of Pringles-maker Kellanova is expected to win unconditional approval from the European Union’s antitrust regulators, a newswire reported, citing sources.

Source: Mergermarket

—

Nautic Partners acquires Cenavera Nutrition from Harkness Capital.

• Nautic Partners is pleased to announce that, in partnership with management, it has closed the acquisition of Cenavera Nutrition, LLC from Harkness Capital Partners.

Source: Mergermarket

—

Climax Foods rebrands to Bettani Farms, raises USD 6.5m in Series A.

• Climax Foods, a food technology company leading breakthrough innovation in the global cheese market, announced it has rebranded to Bettani Farms and appointed former CFO of Califia Farms, Sandeep Patel, to serve as CEO and Chairman.

Source: Mergermarket

—

AI is set to transform the way consumers shop for food.

• PwC’s 2025 CPG survey shows 40% of consumers expect to use AI for comparison shopping by 2030, with nearly a third anticipating fully automated grocery purchasing; adoption is highest among millennials.
• GenAI-powered assistants could build personalized shopping lists, anticipate next purchases, optimize deals, and integrate with smart devices (e.g., refrigerators, watches) to align with wellness goals, sustainability preferences, and budget limits.
• While consumers see efficiency gains, Gen Z in particular demands safeguards—manual approval of purchases, receipts, refund guarantees, and opt-out controls—highlighting a need for trust and transparency in AI-driven retail.

Source: Food Dive

—

SNAP restrictions may cost $1.6B for retailers to implement: report.

• New industry report (NACS, NGA, FMI) estimates $1.6B in upfront costs for retailers to comply with state-level SNAP purchase restrictions, with convenience stores bearing ~$1B of that burden; ongoing compliance expected to cost $760M annually.
• Costs stem mainly from POS/software upgrades, labeling, stocking, and labor tied to new rules as states gain authority to set food restrictions under SNAP; 12 states already hold USDA waivers.
• Trade groups warn that without clear definitions and extended timelines, smaller retailers could face disproportionate strain, urging USDA and states to provide more practical guidance to preserve smooth SNAP access.

Source: Food Dive

—

AAMP creates service to connect co-packers with potential customers.

• The American Association of Meat Processors (AAMP) launched a new co-packing matchmaking service to connect member processors with companies seeking co-packing partners.
• Companies can submit project specifications via AAMP’s new co-packing page; details are shared with co-packer members, who can then reach out directly if interested.
• AAMP members can also join a new online co-packers group, allowing them to review all submissions, post their own opportunities, and facilitate partnerships for both branded and private-label products.

Source: Meat + Poultry

—

Inside Ferrero’s push to become America’s next packaged food giant.

• Quadrupled U.S. sales to ~$3B since 2018 through major acquisitions (Halo Top, Keebler, Butterfinger, Power Crunch, WK Kellogg) and brand innovation (Tic Tac Chewy, Nutella frozen, Butterfinger Salted Caramel).
• Investing $100M+ in 2026 Super Bowl and World Cup campaigns plus $5B+ in North American manufacturing and logistics to boost consumer awareness and capacity.
• Targeting leadership in U.S. packaged sweets, aiming to rival Hershey and Mars by combining aggressive M&A, organic innovation, and sustained capital deployment.

Source: Food Dive

—

Breaking down Pilgrim’s Europe’s first full fiscal year of business.

• Pilgrim’s Europe FY24 results: Revenue dipped slightly to £4.06B ($4.75B) from £4.18B, but net profit rose to £128.4M ($150.4M) with margins improving to 6% (vs. 4.2%), reflecting successful integration of Pilgrim’s UK, Moy Park, and Pilgrim’s Food Masters.
• Strategic investments (£109M in 2024): Major CapEx across pork (slow-cooked and slicing automation), poultry (£40M multi-year capacity expansion at five sites), and meals (£12M in upgrades); also launched a new Shared Services center in Northern Ireland and corporate HQ in Uxbridge.
• Retail/brand performance: Net sales in branded portfolio (£400M) grew 5.7% YoY; Fridge Raiders entered Grocer’s Top 100 with volume +7%, value +6.6%, while Rollover achieved 11.2% value growth; over 700 new products launched in 2024 and 350 in H1 2025, though pork and lamb face demand headwinds amid cost-of-living pressures and higher welfare-driven capacity constraints.

Source: Meat + Poultry

—

Magnum taps into better-for-you craze with Yasso frozen Greek yogurt pints.

• Magnum’s Yasso brand is expanding beyond bars, sandwiches, and poppables into 14-oz frozen Greek yogurt pints (19g protein, ~400 calories, no artificial colors/flavors), launching Oct. 12 exclusively at Target with a national rollout in 2026.
• Move aligns with the better-for-you indulgence trend and demand from health-conscious and GLP-1 consumers, positioning pints as a more versatile format for sharing or multiple eating occasions.
• Comes as Unilever spins off its ice cream division under The Magnum Ice Cream Company in Nov. 2025, with Yasso highlighted as a top growth driver alongside Breyer’s, Ben & Jerry’s, and Talenti.

Source: Food Dive

—

Smithfield teams up with Mike’s Hot Honey on new bacon product.

• Smithfield Foods partnered with Mike’s Hot Honey to launch Smithfield’s Mike’s Hot Honey Bacon, blending hickory-smoked cured bacon with the sweet heat of the trending condiment brand.
• The product anchors Smithfield’s new “We Speak Pork” 360° campaign, featuring media activations, influencer engagement, and a Times Square takeover with immersive visuals, product sampling, and branded merchandise.
• Smithfield framed the collaboration as both authentic and innovative, tapping into consumer demand for bold, flavorful twists on classics while reinforcing the brand’s quality and modern relevance.

Source: Meat + Poultry

—

Campbell’s taps Hershey finance vet for CFO chair.

• Campbell’s appointed Todd Cunfer (currently Freshpet CFO, ex-Hershey exec with 20+ years experience) as its new CFO effective Oct. 20, succeeding Carrie Anderson, who is leaving after less than three years.
• Cunfer’s background spans Freshpet, Simply Good Foods, and Hershey, with compensation including a $725K base salary and a $1.2M one-time cash payment tied to forfeited awards; Freshpet promoted VP of Finance Ivan Garcia to interim CFO.
• The leadership shift comes as Campbell’s battles declining organic sales (-3% in Q4 FY25) amid cost pressures from tariffs, consumer trade-down to value/healthier fare, and mixed earnings performance, marking the food sector’s most active CFO turnover year since 2022.

Source: Food Dive

—

Kraft Heinz CMO on being culturally nimble without losing brand equity.

• Kraft Heinz CMO Todd Kaplan emphasized balancing cultural relevance with brand equity, warning against chasing every viral trend; instead, activations (Heinz x Mustard collab, Ore-Ida NIL deal, Jet-Puffed Easter packs, Oscar Mayer Wienermobile race) were rooted in consumer insights and brand history.
• Kaplan views earned and organic media as critical, highlighting proof-of-concept activations that can later scale into full products or campaigns, while cautioning brands not to dilute messaging by inserting themselves into irrelevant pop culture moments.
• With Kraft Heinz splitting into two entities, Kaplan acknowledged the challenges of marketing legacy brands, stressing consistency in brand architecture, the careful use of nostalgia, and leveraging tools like the company’s AI “Tastemaker” to inform—but not dictate—strategy.

Source: Food Dive

—

Coca-Cola to roll out single-serve minis in c-stores.

• Coca-Cola will launch 7.5-oz single-serve mini cans in U.S. convenience stores starting January 2026, priced at ~$1.29, expanding beyond multipacks for the first time.
• Strategy addresses inflation-driven value seeking and health-conscious moderation (including GLP-1 weight-loss users), while enabling flavor trial; pilot tests showed strong sales without cannibalizing larger formats.
• Minis will roll out across Coca-Cola, Coke Zero Sugar, Cherry Coke, Sprite, and Fanta, with new flavors (e.g., Coca-Cola Cherry Float in Feb 2026) positioned to drive incremental c-store traffic and bundled snack purchases.

Source: Food Dive

—

Tyson agrees to record $85M settlement in pork price-fixing lawsuit.

• Tyson Foods reached an $85M settlement in a seven-year pork price-fixing class action, the largest payout to date, after allegations it conspired with JBS and other packers via Agri Stats to constrain supply and inflate prices.
• The case, first filed in 2018, claims eight major U.S. pork producers controlling 80% of the market colluded from 2009–2021; total settlements across industry now near $200M, including JBS ($20M), Smithfield ($75M), Seaboard ($10M), and Hormel ($4.5M).
• Pork accounted for 11% of Tyson’s $53B FY24 sales, with brands like Hillshire Farms, Ball Park, and Wright Brand; the deal follows prior Tyson settlements, including $221M in 2021 chicken price-fixing claims, underscoring continued antitrust scrutiny of U.S. meatpackers.

Source: Food Dive

—

Color manufacturers sue to strike down West Virginia artificial dye law.

• Color manufacturers (via the International Association of Color Manufacturers) filed suit against West Virginia to strike down its 2028 ban on seven synthetic dyes and preservatives, arguing the law is arbitrary, unconstitutional, and unsupported by scientific evidence.
• The case marks the first major industry legal challenge amid the Trump administration’s “Make America Healthy Again” push, with 20 states considering ~40 additive-restriction bills; Texas has already mandated warning labels for foods with artificial colors.
• While many large CPGs (WK Kellogg, Kraft Heinz, Campbell’s) are preparing to comply under consumer pressure, industry voices warn that inaction could spur further state-level bans, signaling a potential wave of litigation ahead.

Source: Food Dive

—

Foster Farms corn dogs recalled over possible foreign contamination.

• Foster Poultry Farms (Livingston, CA) recalled ~3.8M lbs of chicken corn dogs (produced July 30, 2024 – Aug. 4, 2025) after consumer complaints, including five injuries, linked to wood pieces embedded in the batter.
• Products, marked with establishment number P-6137B, were shipped nationwide to retail, institutional, Department of Defense, and USDA Commodity Foods channels, though not through the National School Lunch Program.
• FSIS warns items may remain in consumer freezers and school/institutional storage, echoing a similar 58M-lb recall by Hillshire Brands (Tyson) in Sept. 2025 for the same type of contamination.

Source: Meat + Poultry

—

Hormel Foods ends bacon production at Georgia plant.

• Hormel Foods is ending bacon production at its Tucker, Georgia plant, citing aging equipment and high investment needs; production has been shifted to other facilities.
• The move is part of Hormel’s three-year Transformation & Modernization (T&M) initiative, targeting $250M in annualized operating income gains by reshaping supply chain, reducing portfolio complexity, and investing in tech and processes.
• Q3 projects included ~90 initiatives such as a new Memphis distribution hub, rollout of the Hormel Production System, procurement/warehousing efficiency programs, and expansion of a data & analytics office to drive future productivity.

Source: Food Dive

JUST FOR FUN

—

Leftovers: M&M’s launches freeze-dried candy | Marvel stars brew up beverage collab. – Food Dive

www.nptma.com

Member FINRA/SIPC