Cargill acquires two of Carneco’s meat processing facilities
COLUMBUS, Ohio Cargill Value Added Meats, part of Cargill Inc., has said that it will complete its acquisition of Carneco Foods by January. The companies announced that they had come to terms on a purchase agreement Thursday for Cargill to buy two of Carneco’s processing plants, reports said.
Cargill Value Added Meats was searching for a new operating plant after it lost its Booneville, Ark., facility to a fire March 23. by fire on Easter Sunday. Cargill Value Added Meats president, John O’Carroll, told the press that Cargill was approached by Lopez Foods, the owner of Carneco, and Lopoez offered to sell its two facilities. O’Carroll also said that originally Cargill has planned to open a new plant in Texas.
Carneco is the maker of beef chubs, frozen beef patties and pre-packaged fresh ground beef.
Details of the buyout are said to be finalized on or around Jan. 2, 2009.
Kraft taps Clarke, former Coca-Cola exec, to head European operations
ZURICH, Switzerland Kraft Foods has names Michael Clarke to leads its European division as president, reports said Monday.
Clarke has served as an executive for Coca-Cola Co. for more than a decade. His most recent title was president of the Coca-Cola Northwest Europe, Nordics business unit.
At Kraft, Clarke will oversee the Kraft Europe operation and report to Irene Rosenfeld, Kraft chairman and chief executive officer. The position of president has been vacant since this summer.
More shoppers buying economy-sized items to save money in hard times
CHICAGO Given the current state of the economy, nearly half of U.S. consumers are looking to help stretch their dollars by buying larger economy-sized offerings, according to a consumer survey released by the Nielsen Company on Tuesday.
Conversely, only 17 percent of consumers prefer new, smaller pack products at lower pricepoints.
“Without question, this is an extremely tough time for today’s consumer,” said Todd Hale, senior vice president, consumer and shopper insights for the Nielsen Company. “CPG manufacturers and retailers have few options to manage rising commodity costs beyond absorbing increased costs, passing on increases to consumers by raising prices or cover increased costs by downsizing offerings,” he said. “Downsizing, in particular, is not a new option—we’ve seen downsizing over the last few years in a number of categories, including ice cream, cereal, candy bars, salty snacks and paper products.”