Feb. 25 at 4:45 p.m.
Filed under:
Food,
Litigation,
Updated
By Reuters
Packages of Starbucks coffee lined up in a supermarket in January 2011. (Reuters/Lucy Nicholson)
It’s official: Kraft Foods will lose its Starbucks business March 1.
The final legal obstacle was removed to Starbucks ending its coffee distribution agreement with Northfield-based Kraft Foods by a U.S. appeals court ruling Friday.
A three-judge panel of the U.S. Court of Appeals for the 2nd Circuit in New York affirmed a lower court ruling of Jan. 28, denying Kraft’s request to stop Starbucks from moving ahead with its plan to use a new partner to distribute packaged coffee to supermarkets in North America and Europe.
Kraft and Starbucks Coffee Co. are in the arbitration to decide what the Seattle-based coffee giant must pay to terminate the relationship. Kraft has been fighting in court to maintain control of the Starbucks business until the arbitration has been concluded. Get the full story »
Feb. 25 at 12:30 p.m.
Filed under:
Beverages,
Food,
Litigation,
Packaged foods
By Dow Jones Newswires
Kraft Foods Inc. told a federal appeals court Friday that it will suffer “irreparable harm” if its distribution deal with Starbucks Corp. ends next week.
The two consumer products giants are in the midst of ending their 12-year partnership in which Kraft distributed Starbucks bagged coffee to supermarkets and other retailers. Starbucks plans to take on the business starting March 1. Get the full story »
Feb. 24 at 2:23 p.m.
Filed under:
Economy,
Food,
Government
By Reuters
U.S. consumers could see food costs spiking to levels seen during the food crisis of 2008 on higher commodity and energy prices, the Agriculture Department said on Thursday.
Food prices are forecast to rise 3.5 percent this year — nearly double the overall inflation rate. The lion’s share of the increase is expected in the second half of 2011, when the recent uptick for commodities, such as corn and soybeans, makes its way through the food system. Just last month, USDA forecast an increase of 2.5 percent in 2011. Get the full story »
Feb. 24 at 8:51 a.m.
Filed under:
Earnings,
Food,
Packaged foods
By Reuters
Dominick’s Finer Foods parent Safeway Inc. reported a quarterly profit that topped Wall Street’s view as sales trends at its grocery stores improved.
The company, which also operates Safeway and Vons grocery stores, fourth-quarter net profit of $229.6 million, or 62 cents per share, topping analysts’ average call for a profit of 57 cents, according to Thomson Reuters I/B/E/S. Get the full story »
Feb. 23 at 6:44 a.m.
Filed under:
Agriculture/Farming,
Food
By Associated Press
Farmers have long struggled with getting ripe strawberries to market in good shape, but scientists say the recent mapping of the wild strawberry’s genome may help them produce berries that are cheaper and easier to grow and arrive in stores in peak condition. Get the full story »
Feb. 22 at 5:14 p.m.
Filed under:
Food,
M&A,
Updated
By Emily Bryson York
Northfield-based Kraft Foods Inc. said Tuesday that it plans to bulk up its marketing efforts and introduce several new products in an effort to offset higher ingredient costs.
The company estimates that pricier ingredients will cost it between $700 million and $800 million in North America alone. The higher costs will be particularly important to areas where Kraft competes the most, including meat, cheese, chocolate and coffee. Get the full story »
Feb. 22 at 2:35 p.m.
Filed under:
Beverages,
Food,
Packaged foods
By Emily Bryson York
Sara Lee may be breaking up, but company executives say that will make it much more focused on the business in which it competes.
Chief Executive Marcel Smits laid out Sara Lee’s plans at the Consumer Analysts Conference of New York Tuesday morning to take share from Nestle, the international leader in single-serve coffee.
Single-serve, made from individual pouches brewed in specialized machines, has become the latest battleground for the coffee industry. Starbucks, Dunkin’ Donuts, Green Mountain Coffee Roasters and even retailers such as Wal-Mart are expected to play a crucial role in the U.S. battle. Get the full story »
Feb. 22 at 1:42 p.m.
Filed under:
Food
By Emily Bryson York
Northfield-based Kraft Foods Inc. is introducing a product Tuesday that lets consumers flavor their water. Kraft calls MiO a “liquid water enhancer” and lets users add as much or as little flavoring as they want.
MiO bottles will include enough droplets for about 24 servings and sell for $3.99. The products will be available in groceries March 7 and nationwide by March 31. Get the full story »
Feb. 22 at 12:43 p.m.
Filed under:
Beverages,
Food
By Emily Bryson York
Chief Beer Officer Greg Hall checks operations at the Goose Island Brewery brewhouse in Chicago. (Michael Tercha/ Tribune)
Chicago-based Goose Island Beer Co. will begin shipping New Hampshire-made Goose Island India Pale Ale this week to serve growing markets on the East Coast.
The company also is testing Honker’s Ale there. It also likely will be made at the New Hampshire facility for the East Coast by spring.
Goose Island began testing its IPA in New Hamphire in September. Get the full story »
Feb. 22 at 8:20 a.m.
Filed under:
Beverages,
Food
By Emily Bryson York
Dunkin’ Donuts and Green Mountain Coffee Roasters are hooking up to make Dunkin’s coffee available in K-cups for Keurig machines.
Beginning this summer, at participating Dunkin’ cafes in the U.S. and Canada, the K-cups will be sold in 14-packs, available in original, decaf, French vanilla, hazelnut, and Dunkin’ dark. Some cafes will also be selling Keurig brewers. Get the full story »
Feb. 21 at 7:29 a.m.
Filed under:
Food,
Franchises,
International,
Restaurants
By Reuters
McDonald’s Corp.’s Indian franchisee plans to set up 30 new restaurants in the southern and western parts of the country this year, as part of the restaurant chain’s expansion plans in Asia’s third-largest economy.
Speaking to Reuters in an interview, Hardcastle Restaurants Private Ltd Vice Chairman Amit Jatia said the franchisee would invest $111 million in India over the next three to four years. Get the full story »
Feb. 18 at 2:17 p.m.
Filed under:
Agriculture/Farming,
Beverages,
Food
By CNN
Coffee prices hit a 14-year high this week, and it’s only a matter of time before java lovers will have to pay more in stores and coffee shops.
Coffee futures have doubled in the last year, closing at $2.46 per pound Thursday. That’s the highest price since May 1997, when coffee was trading at $3.20 per pound. Get the full story »
Feb. 18 at 8:14 a.m.
Filed under:
Bankruptcy,
Food,
Restaurants
From the Chicago Sun-Times | The Aurora restaurant that once carried Walter Payton’s name has filed for Chapter 11 bankruptcy protection after months of unpaid bills and delinquent taxes that have kept its owners in and out of the courtroom. Owner Scott Ascher said he filed for bankruptcy protection for the facility Monday in order to sell the building to one of three interested parties. Ascher said the restaurant will remain open. Get the full story>>
Feb. 18 at 7:44 a.m.
Filed under:
Food,
Restaurants,
Retail
By Wailin Wong
Spending by Chicago businesses on dining and retail goods rose in the fourth quarter of 2010 from a year earlier, showing “an overall corporate spending resurgence,” according to data released by American Express Business Insights. Get the full story »
Feb. 17 at 5:20 p.m.
Filed under:
Bankruptcy,
Food,
Restaurants,
Updated
By Dow Jones Newswires
Chicago’s Giordano’s Enterprises Inc., home of the “world famous” deep-dish pizza, filed for bankruptcy Wednesday.
According to documents served up Wednesday in U.S. Bankruptcy Court in Chicago, Giordano’s sought Chapter 11 protection along with 32 affiliates. In court papers, Giordano’s said it has “an urgent and immediate need for cash to continue to operate.”
Giordano’s, where every pizza “is a slice of heaven,” owes more than $45 million to lender Fifth Third Bank. Get the full story »
