Food Business News - June 5, 2012 - 13

General Mills to buy Brazilian food company
MINNEAPOLIS — General Mills, Inc. has signed an agreement to acquire Yoki Alimentos S.A., a privately-held food company headquartered in Sao Bernardo do Campo, Brazil. The transaction comes less than two weeks after General Mills acquired the ready-tocook spice and sauce mix product line produced by Parampara Foods, Maharashtra, India. The transaction in Brazil is expected to close during the ﬁrst half of General Mills’ 2013 ﬁscal year. Founded in 1960, Yoki is a family-owned Brazilian company whose Yoki and Kitano branded products hold leading market positions in several food categories, including popcorn and snack nuts, side dishes, dry soups, grains and beans, and seasonings. The company has more than 5,000 employees and posted sales of approximately $19.8 million in 2011. “We are delighted to add Yoki’s talented people and strong brands to General Mills’ growing international business,” said Chris O’Leary, executive vice-president and chief operating ofﬁcer - International, at General Mills. “Yoki adds key capabilities and geographic scale that will accelerate our growth in Brazil. We plan to focus on building the strong Yoki and Kitano product portfolio, expanding our current Häagen-Dazs and Nature Valley businesses in Brazil, and introducing additional General Mills brands in this important market over time.” Mitsuo Matsunaga, chief executive ofﬁcer of Yoki, added, “I am very pleased to see our Yoki brands and businesses joining General Mills. Our family is conﬁdent that General Mills’ global capabilities, combined with Yoki’s outstanding employees and brand portfolio, will lead to accelerated growth in Brazil for years to come.” The acquisitions of Parampara Foods and Yoki are part of a rapidly growing international business at General Mills. The company has said ﬁscal 2012 international segment net sales are expected to exceed $4 billion, including sales from the Yoplait International yogurt business acquired July 1, 2011. The addition of Yoki will more than double General Mills’ annual sales in Latin America to nearly $1 billion. FBN

Innovative Food Holdings acquires Artisan Specialty Foods
NAPLES, FLA. — Innovative Food Holdings, Inc. acquired Artisan Specialty Foods, Inc. in a transaction that closed May 18. Innovative Food Holdings markets and sells gourmet food products. Chicago-based Artisan Specialty Foods supplies niche gourmet food products. In 2011, Artisan had unaudited sales of more than $5.6 million. The company warehouses more than 1,200 items and distributes products to more than 450 customers. FBN

Chicken outpacing beef on the menu
CHICAGO — Chicken is becoming more popular than beef on the restaurant menu, according to Mintel Menu Insights. “We expect restaurants to start focusing their attention on other proteins,” said Kathy Hayden, food service analyst at Mintel. “Steakhouses have been struggling in this rough economy and have tried to compensate by offering smaller cuts or more ‘surf and turf’ options, but ultimately chicken menu innovation is giving restaurantgoers a fresh and less expensive option while dining out.” The number of U.S. menu items with poultry as an ingredient has climbed an average of 12% in the past three years and is expected to continue to increase. The greatest growth has been in casual dining and fast-casual eateries. Chicken ﬁngers are the top poultry dish, showing a 10% increase on menus from the ﬁrst quarter of 2009 to the ﬁrst quarter of 2012. Buffalo wings also are increasing in popularity with a 19% increase on menus during the same time. Chicken sandwiches have seen declines, but chicken wraps are making up for the difference. Chicken snacks, such as McDonald’s Chicken McBites, also have increased in popularity. FBN

Farley’s & Sathers, Ferrara to merge
well-positioned candy companies with iconic brands and loyal consumer and customer followings to create a category leader,” said Salvatore Ferrara, chief executive ofﬁcer of Ferrara Pan. “Farley’s & Sathers has signiﬁcant expertise in confections and a strong portfolio of brands that connect with consumers, and both companies have outstanding teams of hard working employees. I look forward to working with the combined team to leverage our joint expertise to continue to delight our customers with our current confections and innovate to develop new offerings.” Farley’s & Sathers is a manufacturer and distributor of confectionery and gum products sold under the Brach’s, Now and Later, Trolli, Jujyfruits and Chuckles brands. Ferrara manufactures both branded and private label confections. Brands owned by the company include Lemonheads, Red Hots and Atomic Fireballs. FBN

FOREST PARK, ILL. — The Farley’s & Sathers Candy Company, Inc., Round Lake, Minn., has agreed to merge with the Ferrara Pan Candy Company, Inc. Once the merger is complete Ferrara will change its name to the Ferrara Candy Company, Inc. Terms of the transaction were not announced, but Catterton Partners, the private equity ﬁrm that owns Farley’s & Sathers, will remain as a majority investor in the combined company. “This transaction brings together two

June 5, 2012

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Food Business News - June 5, 2012

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