IFF joins M&A rush in flavorings with $7.1 billion Frutarom deal

Frutarom has been on an acquisition spree since 2015, and now it’s on the other side of a deal—it’s just become International Flavors & Fragrances' biggest purchase ever. When combined, the two companies will be the No. 2 player in the flavors market, behind Givaudan, which bought Naturex in March. “Frutarom has an extremely attractive product portfolio, including broad expertise in naturals,” IFF’s CEO Andreas Fibig said in a statement. The company is reportedly paying 20.3 times Frutarom’s expected earnings for the year to build its stake in the fast-growing market for natural ingredients. Read more at Bloomberg…

Hain Celestial shares slide to five-year low after earnings fall far short of estimates

Commodity inflation, higher freight costs, lackluster U.S. sales and plans to sell its protein business meant Hain Celestial’s third-quarter earnings fell far short of expectations. Sales were up 8 percent for the quarter, but net income and adjusted earnings per share were down, as were U.S. sales. The natural and organic products company lowered its sales outlook for the full year. Shares have dropped 28 percent in the last year. Read more at Market Watch…

Nestle takes over sales of Starbucks in the grocery aisle in $7 billion deal

Nestle has recently made some big moves in coffee—including buying a majority stake in Blue Bottle Coffee and acquiring Chameleon Cold-Brew—but nothing compares to its new $7 billion deal to sell Starbucks’ packaged coffee and tea products (including Seattle’s Best Coffee and Teavana tea) in stores around the world. The Press Democrat…

Del Monte invests in plant-based meal kit provider Purple Carrot

A $4 million equity investment from fruit and vegetable company Fresh Del Monte Produce Inc. will allow the plant-based meal delivery company to strengthen its core product and expand its brand, CEO Andy Levitt says. Read more at PR Newswire…

Why we’ve been fighting about milk for 10,000 years

It’s the most regulated food in most countries around the world, and also one of the most controversial. Milk has stirred up debates on many fronts—like on the value of breastfeeding, on what kind of milk is ideal for human consumption, on whether it’s even ethical to milk animals for profit in the first place, on the safety of raw milk and on how dairy cows should be raised and fed. Read more at Time…