M&A

The proposed $24.6 billion Kroger-Albertsons megamerger was temporarily blocked today by a federal judge, who ruled in favor of the Federal Trade Commission (FTC) suing to block the deal.

Mondelēz International is exploring a possible acquisition of candy and snack rival Hershey, according to a Bloomberg News report citing private sources familiar with the matter. The combination would bring together such brands as Oreo, Ritz, Reese’s and SkinnyPop and generate annual sales of almost $50 billion.

Lillie’s Q Sauces & Rubs has been sold to manufacturing company OWS Foods as it looks to accelerate growth within new channels including conventional grocery, foodservice and club stores.

Big-brand portfolio reshuffling isn’t going to all of a sudden clear a pathway to acquisition for tiny brands to get scooped up by huge food concerns – at least not right now. Instead, strategics are looking for those billion-dollar acquisitions that can bring them tangible revenue gains.

PepsiCo’s healthy snack buying streak continues. The multinational announced today it will acquire the remaining 50% share of Sabra Dipping Company and its Geneva-based international arm Obela from Israel-based Strauss Group for $243.8 million.

On the podcast, the CPG Week team talks about Danone’s repeated attempts to acquire Lifeway Foods and a pending Ben & Jerry’s lawsuit against Unilever.

TerraMar Capital-backed Lolli & Pops announced today it has acquired fellow Denver, Colo.-based candy producer Hammond’s Candies for an undisclosed sum. According to the announcement, the transaction marks a significant milestone in Lolli & Pops’ growth strategy that has been underway since it was purchased by TerraMar in 2020.

Lakeview Farms, a producer of refrigerated desserts, dips and specialty food, announced it has entered into a definitive agreement to acquire Australian-style yogurt brand noosa from Campbell Soup Company.

The Hershey Company acquired candy brand Sour Strips late last week, only one day after posting less-than-stellar earnings that were weighed down by high cocoa prices and pressures across all business segments.

The Hershey Company announced today it has acquired sour candy brand Sour Strips, expanding the snacking and confectionery giant’s growing sweets portfolio. Financial terms of the deal were not disclosed.