Milling & Baking News - February 13, 2018 - 60

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THE NEWS
APRIL 14,

2015

WEEKLY
OF GRAIN
-BASED FOOD
S

bakingb

usiness.com

S
-BASED FOOD
OF GRAIN
WEEKLY

Subscribe online at

inessnews.net

/ foodbus

ACTIVITIES
INDUSTRY

which
bullish
KANSAS an prices are to six month
reports, h for corn,
al to
and soybe the next three er
as bearis ans and neutr lowcline over a major weath
for soybe wheat, with butto amfor
barring due mostly
bearish
l supalso contri
.
prices
problem, stic and globa
t prices
er corn
analysts
re to whea an and
ple dome
ing to
ing pressu t corn, soybe
accord Milling & Baklower
plies,
by
"I expec
early
to move
prices gh planting,"
interviewedThough still crop
wheat
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ing News. n, the 2015 focus
chief agriwe get
rs,
as
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re
Most other futures pricesand Septemmore-than-a
acreage
th
growth
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LATE NEWS
wheat
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the U.S.
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til May, and the first
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installationment." Mr.
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bakingbusiness.com / foodbusinessnews.net

FOOD INGREDIENT SOLUTIONS®

Techniques making
sweeteners more
cost-effective
Story on Page 20

LATE NEWS

I.G.C. forecasts record
wheat carryover
LONDON - Ending stocks of wheat
in 2018 are projected at a record 248
million tonnes in an Aug. 24 update
from the International Grains Council. The forecast is up 7 million tonnes
from the July forecast of 241 million
and would be up 2% from 244 million
tonnes in 2017. The 2018 carryover
would be significantly larger than 226
million tonnes in 2016 and 206 million
in 2015. The increase from July was
driven by a 10-million-tonne increase
in projected wheat production totaling 742 million tonnes in 2017-18, a
crop still slightly smaller than the record 754 million in 2016-17. The wheat
carryover increase was attributed by

Continued on Page 8

JAB expands in U.S. baking with
Bruegger's acquisition
DALLAS - Caribou Coffee, the secondlargest company-operated premium coffeehouse in the United States, has agreed
to acquire the Bruegger's Bagels chain
from Le Duff America. Caribou Coffee
is part of JAB Holding Co., which has
expanded significantly in grain-based
foods over the past year and whose holdings already include the nation's largest
bagel chain: Einstein Bros. Bagels.
Financial terms of the transaction
were not disclosed.
Founded in 1983 in Troy, N.Y., Bruegger's operates approximately 300 restaurants in 26 states, the District of Columbia and Canada. The bakery-cafe chain
initially was centered on its New Yorkstyle bagels, but has since expanded its
menu to includes sandwiches for breakfast and lunch, salads, soups, desserts
and coffee. Le Duff acquired Bruegger's
in March 2011. The company soon afterward set a three-year target to grow the
chain to over 400 stores from over 300.
Growth proved elusive.
The pending purchase of Bruegger's

Food as
fashion

BRUEGGER'S BAGELS

THE NEWS

LATE NEWS

Story on

Cocoa grin
in fourth d down
quarter
KANSAS
CITY

Page 28

Foods Share in 2014. The
lated by
Milling
Index,
the year
&
calcuat a record Baking News,
ended
While
20342
in 2013, smaller than .89, up 17%.
the 23%
eclipsed grain-based
gain
share
in 2011, advances of 16% s in 2014
9% in
2010 and in 2012, 8%
From the
end of
Foods
2008, the 13% in 2009.
Share Index
Grain
points,
has added -Based
for a
11,195
A rarity gain of 122%.
for food
The Grain
market,
stocks
the G.B.F.
-Based
dex also
in a
each of
outperformFoods Share
the other index outperformbull index
Inces in
es. The
ed globa
ed an
2014. The major marke
17% gain
l
advan
the Stand
t indicompared stock
16.8%
ard and
try Worldce of 1.5% in
gain bested
- up
the All with
Poor's
Index
11.4%;
Emerg
Coun500 Index
(ACW
the
of indus
ing
trial sharesDow Jones
down 6% Markets IndexI). The MSCI
average
Nasdaq
durin
in
composite , up 7.5%;
Additionall g the year. 2014 was
and
index,
up 13.4% the were strong y, grainbased
.
when
share
measu
red again s
Continued
st

North
- Fourt
by JAB represents the latest in a flurry of
Amer
bean grind ican and Europ h-quarter
acquisitions by the Luxembourg-based
declined
ean
quarter
company. The transactions have been
from the cocoa
a year
earlie
same
heavily focused on coffee and grain- results were
mixed. r, but full-year
based foods. Most recently, the com- fourth-quar
North
ter
American
pany acquired St. Louis-based Panera tonnes, down grind was
Bread Co. for approximately $7.5 bil- from the same 2,446 tonne 122,886
on Page
s, or 2%,
20
lion in a transaction that was approved National Confe quarter in
2013,
in mid-July. The Panera purchase came said, but grind ctioners Assoc the
a year after JAB acquired Krispy Kreme521,657 tonne for all of 2014 iation
s, up
totaled
Doughnuts, Inc. for approximately $1.35or 2%, from
10,615
WASH
2013 and
tonnes,
INGTON
billion. Other companies in which JABon record since
the
ricultural
reporting
- The
the N.C.A highest
Continued on Page 10
DepartmenStatistics ServicNational Ag. began
2009. EuropNorth Amer
e of the
acres as
ean fourth ican grind
estimated t of Agric
of 323,06
U.S.
ulture
in
the recen
-quarter
the
The
on Jan.
wheat
earlier 1 tonnes fell
for harvearea seeded
12 the U.S.D.A. estimt five-year
7% from grind
and was
average.
to
acres,
st
avera
a
winte
ate
in
year
the lowes
2015 at
down
fell
ge of
r mates
5% from
40,452
in 2014.
pre-report well below
at 42.7
Continued t since
42,399,000 ,000 offi
It was
on Page
wheat
cial estim million acres. trade estiacres
8
area since the smallest
ate was
In fact,
of pre-re
2010 and
winte
the
port trade below the
Mondelez and features the Back to Nacompared36,576,000 acres r in a
lowest
recent
with 41.8
in
survey. estimates provi
ture and SnackWell's brands. Products
The U.S.D
million
ded
manufactured under the brands include
.A. estim
winter
wheat
cookies, cakes, pretzels, popcorn, nuts
plantings ated hard
acres,
red
down
and trail mix, granola, cereals, soups and
3% from at 29.5 millio
smallest
2014. It
n
juices. Many of the products sold under
28.5 milliohard winter
was the
wheat
the Back to Nature brand are Non-GMO
area since
with 29.3 n acres in 2011
and
million
Project verified or certified organic.
five-ye
acres as compared
ar
avera
"We are very pleased to add Back
the recen
The U.S.D ge.
t
to Nature to the B&G Foods family of
accompanyi .A. said
in comm
ng the
brands," said Robert C. Cantwell, presichanges
entary
repor
from
t, "Acre
last year
dent and chief executive officer of B&G
age
are mixed
Foods. "Consistent with our acquisition
across
Continued
strategy and our recent Green Giant,
on Page
33
spices and seasonings and Victoria acquisitions, we are continuing to diversify our portfolio of brands and invest in
brands and products that we believe are

Winter
smaller wheat seede
d area
than in
5%
2014

B&G Foods to acquire Back to Nature
Foods Co. for $162.5 million
PARSIPPANY, N.J. - B&G Foods, Inc.
has added another snack manufacturer
to its portfolio. The company entered
into an agreement on Aug. 20 with the
private equity firm Brynwood Partners
VI L.P. and Mondelez International to
acquire Back to Nature Foods Co. for approximately $162.5 million.
Back to Nature Foods Co. is a joint
venture between Brynwood and

Continued on Page 11

60 / February 13, 2018

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Milling & Baking News - February 13, 2018

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