The most-read SFA News Daily articles in August explored topics including mergers and acquisitions between big-name brands and retailers alike, retailers’ strategic efforts, and a shortage of rice that can have global consequences.
In case you missed it, the following were the most popular stories last month.
1. Campbell Soup to Acquire Rao's Parent
Campbell Soup and Sovos Brands, Inc., the parent company of soup and sauce brand Rao’s, shared that Campbell will acquire the premium brand for $23 per share in cash, representing a total value of approximately $2.7 billion. Sovos Brands specializes in premium pasta sauces, dry pasta, soups, frozen entrées, frozen pizza, and yogurts marketed under the Rao’s, Michael Angelo’s, and Noosa brands.
2. Giant Food Eliminates Fulfillment Centers
Giant Food is closing its fulfillment centers, which facilitate home grocery delivery, in Hannover, Maryland; Manassas, Virginia; and Milford, Delaware. The 80,000-square-foot location in Manassas opened three months ago.
3. Aldi to Acquire Winn-Dixie, Harveys Supermarket
Aldi shared that it has entered into an agreement to acquire Winn-Dixie and Harveys Supermarket as part of a larger divestiture of Southeastern Grocers.
4. India’s Rice Ban Could Provoke Global Food Crisis
On July 20, India banned exports of non-basmati white rice to quell domestic inflation; however, the removal of the food staple’s supply from international markets could trigger a global food crisis.
5. Whole Foods Accelerator Cohorts Announced
Whole Foods Market named the participants for the two tracks of the Local and Emerging Accelerator Program LEAP: Early Growth and On the Verge. The LEAP initiative launched in 2022 with the inaugural Early Growth cohort and continues to advance Whole Foods’ core value of seeking win-win partnerships with suppliers, according to the company.
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