December 12, 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

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Mars completes acquisition of Kellanova.

• Mars, Incorporated, a family-owned, global leader in pet care, snacking and food, is pleased to announce the successful completion of its acquisition of Kellanova, whose portfolio includes Pringles®, Cheez-It®, Pop-Tarts®, Rice Krispies Treats®, RXBAR® and Kellogg’s international cereal brands. The combination brings together two iconic businesses with beloved brands, storied legacies and outstanding capabilities – now united to shape the future of snacking.

Source: Mergermarket

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North Point served as the lead financial advisor in this transaction.

Premium Brands to acquire Stampede Culinary for USD 662.5m base purchase price.

• Premium Brands Holdings Corporation is pleased to announce that it has entered into a definitive agreement to indirectly acquire all of the issued and outstanding shares of Stampede Culinary Partners, Inc., a leading culinary solutions and protein platform with a nationwide presence in the United States.

 Source: Mergermarket

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Campbell's Company to acquire 49% interest in La Regina for USD 286m.

• Campbell's has entered into definitive agreements to acquire a 49% interest in La Regina di San Marzano di Antonio Romano S.p.A. and La Regina Atlantica, LLC (together, La Regina), the privately held maker of Rao’s tomato-based pasta sauces, for total consideration of $286 million to be paid in two tranches. Based in Scafati, Italy, La Regina was founded in 1972 and has been a Rao’s partner since 1993. La Regina also operates a facility in the U.S. in Alma, Georgia. The transaction strengthens the partnership between Campbell’s and La Regina, ensuring Rao’s continued commitment to the highest quality products while accelerating innovation and new product development.

Source: Mergermarket

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Proof of the Pudding acquires RS3 Strategic Hospitality.

• Proof of the Pudding has acquired RS3 Strategic Hospitality, an established hospitality provider serving sports, entertainment and community venues throughout Texas and major markets across the country. The move is a reflection of Proof of the Pudding’s continued nationwide expansion. 

Source: Mergermarket

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Righteous Felon raises investment from GroundForce Capital.

• GroundForce Capital today announced an investment in RTZN Brands. The investment supports Righteous Felon’s mission to transform the meat-snack category by scaling the reach of its craft, better-for-you jerky and meat snack portfolio. The funding comes on the heels of a standout year for Righteous Felon, which has rapidly emerged as one of the fastest-growing brands in the better-for-you meat-snack category. Over the past year, the Company delivered +100% year-to-date gross sales growth, powered by strong multi-channel momentum, a series of high-impact new retail wins, and accelerating velocities, further cementing its national footprint. 

Source: Mergermarket

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Audax Private Equity set to acquire Global Market Foods.

• Audax Private Equity is nearing a deal to acquire Global Market Foods, according to three sources familiar with the situation.

 Source: Mergermarket

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Dawn Foods in midst of sale process.

• Dawn Foods, a family-owned maker and distributor of baking ingredients, is in the midst of a sale process, according to five sources familiar with the situation. The Jackson, Michigan-based company is working with BMO on the potential sale, the sources said.  

Source: Mergermarket

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Candy Factory seeks acquisition to extend product range, solidify market position – chairman.

• Italian confectionary manufacturer Candy Factory expects further acquisitions in 2026 to extend its product range as it seeks to consolidate its presence in Southern Europe, Chairman Roberto Ippolito said.

Source: Mergermarket

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Ironbridge Equity Partners collects initial bids for Handi Foods.

• Ironbridge Equity Partners has collected initial bids in its sale process for portfolio company Handi Foods, according to three sources familiar with the situation.

 Source: Mergermarket

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Pitaya Foods working with Whipstitch on growth capital raise – CEO.

• Pitaya Foods, a founder-owned producer of internationally sourced frozen fruit, is working with Whipstitch Capital for its first institutional raise, said founder and CEO Chuck Casano.

Source: Mergermarket

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Clio Snacks launches sale process. 

• Clio Snacks, a privately-held maker of Greek yogurt bars, has launched its sale process, two sources familiar with the situation said.

Source: Mergermarket

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Wind Point-backed Monarca Food Solutions readies for potential sale.

• Wind Point Partners and Highlander Partners are preparing a potential sale of pellet-based food ingredients solutions provider Monarca Food Solutions, according to four sources familiar with the situation.

 Source: Mergermarket

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How Tyson is tackling tight beef, pork supplies.

• Tyson is countering record-low cattle herds and fewer hogs by boosting yield, improving plant efficiencies and expanding value-added products such as seasoned and specialty-trimmed cuts.
• These strategies helped the prepared foods segment achieve its best fill rates since 2013, though tight cattle supplies continue to make beef the company’s weakest segment heading into 2026.
• Amid drought-driven herd declines, producers retaining heifers, and the spread of the New World screwworm, Tyson is closing a Nebraska beef plant, reducing production in Texas and raising prices to offset reduced pork availability.

Source: Food Dive

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Mondelēz launches sugar-free Oreos to ‘disrupt’ better-for-you snacking.

• Mondelēz is launching Oreo Zero Sugar in January 2026 after four years of development, aiming to deliver a “100% authentic” Oreo experience for health-conscious consumers seeking lower-sugar options.
• The product, offered in Original and Double Stuf, uses a sweetener blend to mimic the taste and texture of traditional Oreos and is designed to disrupt a sandwich-cookie category that has lacked strong sugar-free offerings.
• Insights from sugar-free Oreo launches in China and Europe shaped the U.S. version, which was reformulated from scratch based on consumer feedback to meet Americans’ high expectations for the brand.

Source: Food Dive

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PepsiCo to reduce offerings, improve product affordability to accelerate growth.

• PepsiCo will cut nearly 20% of its product lineup and push affordability initiatives as part of a major cost-cutting effort prompted by slowing consumer spending and pressure from activist investor Elliott Investment Management.
• The company aims to boost revenue growth and margins through automation, digitization and a shift toward healthier, value-driven offerings, though its North American business continues to see margin erosion and share loss in beverages.
• Layoffs and facility closures are expected as PepsiCo restructures, while Elliott backs the company’s plan to reduce costs, accelerate innovation and target 2%–4% organic revenue growth in 2026. 

Source: Food Dive

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The complete package from American Foods Group.

• American Foods Group opened its new $800M, 800,000-sq-ft America’s Heartland Packing plant in Missouri, designed for long-term expansion, regional cattle sourcing, reduced transportation costs and a capacity of 2,400 cattle per day, with strong emphasis on producer relationships.
• The facility incorporates advanced automation, robotics, food-safety interventions, LEED-certified “zero-exposure” environmental design, major wastewater and odor-control systems, and layouts that improve logistics, animal handling and future scalability.
• AFG is investing heavily in workforce recruitment, training, immigration-related labor stability, and community partnerships, offering extensive employee amenities and emphasizing local engagement to support long-term retention.

Source: Meat + Poultry

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JM Smucker cancels new coffee price hikes after tariffs lifted.

• J.M. Smucker scrapped plans for an additional coffee price hike after tariffs on imported green coffee were lifted, choosing instead to absorb roughly $75 million in related costs.
• Despite earlier price increases, coffee demand remained strong, and the company expects FY2025 revenue from the category to rise 16% with only a modest volume decline.
• The tariff exemption is expected to stabilize the market going forward, though unrecovered costs will dent this year’s earnings by about $0.50 per share.

Source: Food Dive

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Perdue Farms provides comments after sentencing of animal activist.

• A Sonoma County judge sentenced activist Zoe Rosenberg to 90 days in jail for a 2023 break-in at Perdue’s Petaluma Poultry facility, with jurors rejecting her claims that poor animal conditions justified the intrusion.
• Perdue/Petaluma Poultry said the evidence showed the break-in was part of DxE’s broader campaign to disrupt agriculture, emphasizing biosecurity risks and thanking prosecutors for holding the group accountable; any restitution will be donated to local food banks.
• Rosenberg’s legal team condemned the ruling as excessive for a nonviolent act involving chickens worth under $25, arguing it protects a powerful industry rather than animal welfare. 

Source: Meat + Poultry

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Hormel Foods turns to pricing, supply chain revamp to battle meat inflation.

• Hormel faced sharp pork and beef inflation in fiscal 2025 — with pork inputs up 10–25% and turkey supplies tight — prompting multiple price hikes that still couldn’t fully offset margin pressure.
• The company leaned on its Transform and Modernization initiative to expand distribution capacity, streamline manufacturing, and counter rising costs; leadership expects these efficiencies to continue supporting margin expansion in 2026.
• Beef costs are projected to stay high through fiscal 2026, pork costs to ease but remain elevated, and turkey availability to stay constrained, mirroring tight protein supplies seen across the industry.

Source: Food Dive

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President Trump announces new task forces to investigate anti-competitive practices in food industry.

• President Trump issued an executive order creating task forces with the DOJ and FTC to investigate potential price fixing and anti-competitive practices in the food supply chain, especially in the meat industry.
• The order directs federal agencies to take enforcement action and propose new regulations if collusion or unfair competition is found, echoing Trump’s earlier accusations that meatpackers are manipulating beef prices.
• Record-high beef prices, declining cattle inventories and ongoing concerns about foreign-controlled companies prompted the move, with cattle herds falling to their lowest levels since 1951.

Source: Meat + Poultry

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Campbell’s sees dip in sales for Q1.

• Campbell’s Q1 sales fell 3% to $2.68 billion and net earnings dropped 11% to $194 million, as tariff impacts and rising input costs pressured both Meals & Beverages and Snacks segments.
• Adjusted gross profit margin declined to 29.9% due to cost inflation, tariffs, and unfavorable mix, partially offset by cost savings, supply chain improvements, and pricing actions.
• Gains in Rao’s and Pacific brands partially offset declines in other products, while evolving snacking trends and price increases affected volume in the Snacks business.

Source: Meat + Poultry

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San Francisco’s move against ultraprocessed food could lead to wave of lawsuits.

• San Francisco’s lawsuit against packaged food companies focuses on ultra processed foods (UPFs) and could trigger a wave of litigation if plaintiffs can prove food addiction, which is currently unrecognized by major medical authorities.
• The FDA, led by Health and Human Services Secretary RFK Jr., is set to issue the first federal definition of UPFs, potentially categorizing thousands of grocery products and enabling new regulations like labeling requirements and advertising restrictions.
• If the FDA’s UPF definition is widely adopted, it could empower cities, states, and class action lawyers to pursue lawsuits against food companies, potentially modeling after tobacco litigation, though the strategy hinges on the disputed concept of food addiction.

Source: Food Dive

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Coca-Cola CEO James Quincey to leave top post after 9 years.

• Coca-Cola CEO James Quincey will step down after nine years, with COO Henrique Braun taking over as CEO on March 31, while Quincey transitions to executive chairman.
• During Quincey’s tenure, Coca-Cola expanded beyond sodas, adding over 10 billion-dollar brands like BodyArmor, Topo Chico, and Fairlife, while focusing on healthier beverages and reducing non-core products.
• Braun brings global experience in operations, marketing, and innovation, and will focus on growth opportunities, technology integration, and meeting evolving consumer preferences in the beverage market.

Source: Food Dive

JUST FOR FUN

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Leftovers: Paris Hilton says ‘That’s Hot’ to cold foam | Chiquita goes bananas for plantain chips— Food Dive

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