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An expansion rate surpassing America'sKFC, run by Shanghai-headquartered Yum China, has historically enjoyed the lion's share of the country's fast-food cravings. Hopes for a new middle class in ChinaCities in China are unofficially grouped into tiers according to their status, size, and wealth. Chinese KFC has nearly doubled its menu itemsExpanding during a sluggish economy might make sense for fast food brands, which are often classified as recession-proof as consumers downgrade their spending. Advertisement"Now, they are doubling down further on this strategy by expanding into the inland regions of China, especially Tier Three and Tier Four cities with a growing middle class," they told BI. Yum China has also been expanding aggressively in the country's burgeoning coffee scene, establishing a popular spin-off called KCoffee.
Persons: , It's, McDonald's, Shaun Rein, Rein, Allison Malmsten, Malmsten, Cui Nan, Wang Gang, Jonathan Bernstein, Bernstein, Kung Fu, Daxue, it's, They've Organizations: Service, Thursday, Business, McDonald's, Tier, China Market Research Group, KFC, LONG, Future Publishing, Getty Images, China, US, Yum China, Daxue Consulting, Publishing, China News Service, Getty, Analysts, Yonder Consulting Locations: China, Kentucky, Weibo, Hangzhou, China's, Shanghai, China Cities, Beijing, Guangzhou, Shenzhen, Chengdu, Chongqing, Nanyang, Suqian, Jiangsu, London, Asia, Shanghai thronged
Mars, whose brands include M&M’s, Snickers and Skittles, is buying food company Kellanova in a deal worth nearly $30 billion, giving it access to a huge portfolio of consumer brands from Cheez-It to Pop-Tarts. Kellanova, based in Chicago, houses many brands, including Pringles, Town House, MorningStar Farms and Rice Krispies Treats. Once it is complete, Kellanova will become part of Mars Snacking. “The Kellanova brands significantly expand our snacking platform, allowing us to even more effectively meet consumer needs and drive profitable business growth,” Andrew Clarke, global president of Mars Snacking, said in a statement. Shares of Kellanova rose nearly 8% before the opening bell Wednesday.
Persons: Mars, Kellanova, Kellogg, Rice Krispies, ” Andrew Clarke, Mars Snacking Organizations: Kellogg Co, MorningStar, Rice, Mars Inc Locations: Cheez, Chicago, Pringles
Family-owned candy giant Mars, whose brands include M&M's and Snickers, said on Wednesday it would buy Cheez-It and Pringles maker Kellanova in a nearly $36 billion deal, making it the biggest deal in the packaged food industry. Mars will pay $83.50 per share in an all-cash deal for Kellanova, representing about a 33% premium to Kellanova's close on Aug. 2, before Reuters first reported that Mars was exploring a deal for the Pringles maker. Kellanova, which split from WK Kellogg last October, is rooted in a salty snacks business and sells cereal outside of North America. WK Kellogg was left with the North American cereal business of Kellogg, the original parent company. Kellanova logged net sales of more than $13 billion in 2023.
Persons: Mars, Kraft Heinz, Mondelez, Rice Krispies, Andrew Clarke, WK Kellogg, Kellogg Organizations: Diamond Foods Inc, Procter & Gamble Co, Kellanova, Reuters, Wrigley, Global, Street Journal Locations: San Francisco , California, Kellanova, Hershey, Chicago, North America
Mars is buying Kellanova for almost $36 billion, making it one of the largest deals this year. Kellanova's big business is salty snacks including Pringles and Cheez-It. Go to newsletter preferences Thanks for signing up! AdvertisementMars is buying food maker Kellanova for almost $36 billion, including debt, in one of the year's biggest deals, the companies said Wednesday. This story is available exclusively to Business Insider subscribers.
Persons: Mars, , Eggo waffles Organizations: Service, Reuters, Business
Mars buys Kellanova, maker of Cheez-It and Pringles
  + stars: | 2024-08-14 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +3 min
London CNN —Mars has agreed to buy Kellanova in a deal that values the maker of Cheez-It and Pringles at almost $29 billion. The mega-deal will create a global snacks behemoth, adding a bevy of new nibbles to Mars’ portfolio of brands, which includes Snickers, M&M’s, and the Mars bar. “The Kellanova brands significantly expand our snacking platform, allowing us to even more effectively meet consumer needs and drive profitable business growth,” Andrew Clarke, global president of Mars Snacking, said in a statement. The Kellanova acquisition ranks in the top 10 global food and beverage mergers and acquisitions since 1995, according to Dealogic. The Kellanova deal is expected to close in the first half of next year, subject to shareholder and regulatory approval.
Persons: London CNN — Mars, Kellanova, ” Andrew Clarke, Mars Snacking, , Burger King, ” Kellanova, Trü, Anna Cooban Organizations: London CNN, Reuters, Kellogg Company, MorningStar, Nestle, McDonald’s, Starbucks, Mars
Cup Noodles is trying to change that — with a new s’mores-flavored instant ramen. While this marks Cup Noodles’ first foray into dessert territory, the noodle maker is no stranger to non-traditional ramen pairings. “Cup Noodles Campfire S’mores” is the latest in a series of seasonal flavors aimed at shaking up how consumers perceive the brand. Despite the saturated s’mores market, Saunders sees Cup Noodles as occupying a unique position that could get people talking because of ramen’s association with traditionally savory flavors. Stanton says younger buyers tend to be more playful with their tastes, adding that the s’mores flavor appeals to the connection between food and childhood memories.
Persons: Noodles, graham, , Nissin, Neil Saunders, It’s, ” Saunders, Priscila Stanton, , , there’s, Saunders, ” Nissin, Gen Z, Stanton, Saunders doesn’t Organizations: CNN, Walmart, Nissin, USA Locations:
This post originally appeared in the Insider Today newsletter. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . On the agenda:But first: Get in, we're going to the Met Gala. An aerial shot shows Jared Leto on the red carpet at the 2023 Met Gala.
Persons: , Jared Leto, Neilson Barnard, MG23, Anna Wintour, Bunny, Jennifer Lopez, Chris Hemsworth, Shou Zi Chew, I'm, Yulia Reznikov, everyone's, Morimoto, Chris Burnett, hasn't, they're, Tyler Le, Anne Hathaway's sizzling, Jerry Seinfeld Organizations: Business, Service, Disney, Victoria & Alberts, Metropolitan Museum, Art's Costume, Vogue, Costume Institute, Social, BI, HGTV, Netflix Locations: Epcot, Victoria, Scottsdale , Arizona, Scottsdale Scottsdale , Arizona, Scottsdale, Michigan
Check out new shows like "A Man in Full" and "The Veil" this weekend. Anne Hathaway's new movie and Jerry Seinfeld's "Unfrosted" are streaming now too. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWhether you're looking for something sexy, goofy, or serious, there are plenty of options for what to watch this weekend.
Persons: Anne Hathaway's, Jerry Seinfeld's, There's, Organizations: Service, Business
CNN —Jay Leno and his wife Mavis were full of smiles Tuesday as they supported some of Leno’s comedic colleagues. The couple attended the Los Angeles red carpet premiere for “Unfrosted,” a comedy about the origin of Pop-Tarts, which is the directorial debut of comedian Jerry Seinfeld. Leno, who recently celebrated his 74th birthday, has been granted conservertorship over his wife’s estate as she lives with advanced dementia. “I am so sick of these hard hitting controversial documentaries,” Leno joked to Seinfeld as his wife Mavis Leno laughed. “Can’t somebody just make a comedy anymore?”Seinfeld noted that he and Leno have been friends since 1978 and Leno said he was “very proud” of Seinfeld.
Persons: CNN — Jay Leno, Mavis, , , Jerry Seinfeld, Amy Schumer, Melissa McCarthy, Jim Gaffigan, Leno, conservertorship, Mavis Leno, Seinfeld’s, ” Leno, Seinfeld, ” Seinfeld, CNN’s Alli Rosenbloom Organizations: CNN, Los, Hollywood Locations: Los Angeles
Seinfeld remains a comedy legend. Amy Sussman/Getty ImageSeinfeld returned to New York and his stand-up comedy roots when the show ended in 1998. He chronicled his post-"Seinfeld" tour in the Emmy-nominated 1998 HBO comedy special "I'm Telling You for the Last Time." The streamer also struck a deal with Seinfeld for two stand-up specials and the development of scripted and unscripted comedy programming. "Jerry Before Seinfeld" was released on September 19, 2017, and "23 Hours to Kill" — his first original stand-up special in 22 years — premiered on May 5, 2020.
Persons: Seinfeld, Jerry Seinfeld, Amy Sussman, Getty, Dave Chappelle, Ellen DeGeneres, Jimmy Fallon, David Letterman, Barack Obama, Jerry, Organizations: HBO, Netflix Locations: New York
I made homemade toaster pastries in my air fryer and I'm never going back to store-bought. The finished pastries really blew me away, and I can't wait to come up with more flavors. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementI often crave a sweet breakfast, but pastries — especially those with flaky layers — aren't known for being a quick-fix treat. So, I turned to my trusted air fryer and found recipes that would be ready in less than half the time.
Persons: fryer, I'm, Organizations: Service
“China is now simply too large for the rest of the world to absorb this enormous capacity,” Yellen told reporters Monday. US intelligence has warned that China is providing technology and equipment to Russia that is important to Moscow’s war in Ukraine. During her last visit to Beijing, Yellen dramatically boosted business for a Yunnan restaurant chain and its mushroom dish after her delegation was spotted dining there. “As a US official, Yellen needs to know more about China than just its food. Only by understanding China better, can she correct the US worldview and its views of China and China-US relations.”
Persons: Janet Yellen, Yellen, Joe Biden, Xi Jinping, , China Nicholas Burns, Pedro Pardo, Li Qiang, ” Yellen, Li, Biden, , Mao Ning, Xi, CNN’s Marc Stewart, we’ve, Andy Wong, “ Yellen, Tao Tao Organizations: Hong Kong CNN, Russia, China's, Getty, Vice, Foreign Ministry, Treasury Department ., Ukraine, China’s, Ministry, Locations: China, Hong Kong, Guangzhou, Beijing, United States, AFP, Washington, Xinhua, Russia, Ukraine, Treasury Department . China, San Fransisco, , Yunnan, Weibo
AdvertisementOther candy makers should take notes because Trader Joe's clearly knows what it's doing when it comes to chocolate. I fell in love with the lemon-and-ricotta ravioli's tasty fillingThis lemon-and-ricotta option is my new favorite Trader Joe's ravioli. These blueberry-and-lemon hand pies are the perfect pastry for the spring seasonThe blueberry-and-lemon hand pies from Trader Joe's look homemade. Trader Joe's Portuguese custard tarts totally lived up to the hypeTrader Joe's Portuguese custard tarts blew me away. If someone told me Trader Joe's lemon sheet cake came from a fancy bakery, I wouldn't question it for a second.
Persons: , I've, Wilson, Joe's, they're, Savanna, I'm, seitan, pico, gallo, there's, Joe's didn't, Parmesan, Almond, Wilson I'm, graham, They'd, Meyer, munch, Wilson I've, Ina Garten, They're, madeleines, Florentine, Joe, Wilson It's, frosting, pasteis, nata, I'd, pretzels, Joe's dulce, dulce de Organizations: Service, Business, Wilson Locations: Savanna, Eastern Europe, Parmesan, Portugal
To produce the 2024 lineup, the global listings guide’s network of editors and writers chipped in to make the case for their favorite streets in their respective cities. High Street’s also great for bar hopping, suggests Time Out, highlighting “intimate and exclusive” rooftop bar Gigi Rooftop and buzzing dance spot Francesca’s Bar. Commerical Drive in Vancouver, Canada is number five on Time Out's list of coolest streets. Rua da Boavista in Lisbon, Portugal is number seven on Time Out's list. High Street, Melbourne2.
Persons: company’s, Leah Glynn, Glynn, ” It’s, Gertrude Street, Melbourne’s omnipresence, , Street’s, Marco Finanzio, Gigi, ” Finanzio, , Ben Mathieson, it’s, ” Matheison, Mathieson, Mo Temple, Kenny Dorham’s, Consell, Rua da, Kathy deWitt, Arnaldo Quintela, Consell de Organizations: CNN, Out, Smith, Casa Nata, CNN Travel, Hollywood, Michelin, East Eleventh, Wine Bar, Rua da Boavista, Bikram, Eleventh Locations: Melbourne, Out Melbourne, Australian, Northcote, Thornbury, Preston, Casa, Francesca’s, Vancouver, Canada, Hong Kong, Mo, Austin , Texas, Barcelona, Spain, Lisbon, Portugal, Bikram Yoga, Guatemala, Buenos Aires, Jalan Petaling, Kuala Lumpur, Tokyo, backstreets, Argentina, Malaysia, Rio de Janeiro, Brazil, Japan
Kellogg's is advertising cereal for dinner as an alternative for people struggling with food prices. WK Kellogg CEO Gary Pilnick told CNN last week that the messaging was "landing really well" with customers. Cereal prices shot up 13% in 2022Grocery prices soared during the pandemic as supply-chain chaos pushed up costs for producers. Advertisement"The cereal category has always been quite affordable, and it tends to be a great destination when consumers are under pressure," Pilnick told CNN. Pilnick told CNN last week that more than a quarter of cereal consumption is outside breakfast.
Persons: aren't, WK Kellogg, Gary Pilnick's, Pilnick's, , Gary Pilnick, Marie Antoinette, Marianne Williamson, Pilnick, Sadie Garcia, Kellogg Organizations: Service, CNN, YouTube, American Academy of Pediatrics, American Heart Association, Bureau of Labor Statistics, Graham
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewEmma Stone said eating 60 Portuguese custard tarts and wanting to "puke" was more challenging than filming the much talked about sex scenes in "Poor Things." But when asked during a pre-Oscars panel on Saturday if it was tough to play "an explicitly sexual character," Stone said other aspects of filmer were harder. This isn't the first time that Stone has discussed the film's explicit nature. AdvertisementBack in January, she said that she isn't someone who "wants to be naked all the time," but she wanted to play Bella as faithfully to the story as possible.
Persons: , Emma Stone, Stone, Bella Baxter, Bella, Duncan Wedderburn, Mark Ruffalo, , Robbie Ryan “, XKtkHDwM3u — Jada Yuan Organizations: Service, Business Locations: Lisbon, Portuguese
New York CNN —William “Bill” Post, who helped create Pop-Tarts, the pantry staple that reinvented breakfast for the masses, has died. “We are deeply saddened to share the news that William ‘Bill’ Post passed away over the weekend,” Pop-Tarts owner Kellanova said in a statement. We’d like to put that in a toaster.’”He took the piece of pie with him and said he “had to break every rule in the book” to create Pop-Tarts. In the following few years, frosting and sprinkles were added and Kellogg created “Milton the Toaster” to be its mascot. He was also humble about helping create Pop-Tarts.
Persons: William “ Bill ” Post, William ‘ Bill ’ Post, Kellanova, , Bill, , ” Post, Kellogg, Milton, Keebler, Post Organizations: New, New York CNN, Hekman Biscuit Company, Kellogg, Army Locations: New York, Michigan, Cleveland, Kellogg, Japan, Florence
William Post, Who Helped Create Pop-Tarts, Dies at 96
  + stars: | 2024-02-14 | by ( John Yoon | ) www.nytimes.com   time to read: +1 min
William Post, a businessman who was credited with a significant role in inventing Pop-Tarts, a classic American snack and cultural touchstone with an enticing sweetness and simplicity, died on Feb. 10 in Grand Rapids, Mich. His death was confirmed by his son, Dan Post, who said his father had died of heart failure in a senior living community. Mr. Post led the bakery plant that developed the first Pop-Tarts for Kellogg’s in 1964, his son said. The snack quickly became a popular treat for many people in the United States, including Mr. Post’s children, who were among the first taste testers. Today, billions of Pop-Tarts are sold each year, according to Kellogg’s.
Persons: William Post, Dan Post, , , Jerry Seinfeld Organizations: Post Locations: Grand Rapids, Mich, Kellogg’s, United States,
William 'Bill' Post, inventor of Pop-Tarts, dies at 96
  + stars: | 2024-02-14 | by ( Katherine Itoh | ) www.cnbc.com   time to read: +1 min
William "Bill" Post, the man credited with inventing the iconic toaster pastry Pop-Tarts, has died at 96. Post worked as the plant manager for the Michigan-based Hekman Biscuit Company, later known as Keebler Company, when Kellogg's asked the company to create a new breakfast product. The Pop-Tarts inventor began his career as a part-time worker in high school washing trucks at Hekman. After serving in the Army Air Corps in occupied Japan during World War II, Post returned to the company and worked up the corporate ladder. The toaster pastry remains a favorite among customers 60 years later, with around three billion sold in 2022.
Persons: William, Bill, Post, Kellogg's, Tarts Organizations: Hekman, Company, Army Air Corps Locations: Michigan, Japan, Illinois
PayPal : Shares tumbled 10% Thursday after the financial technology company issued earnings guidance that came up short of Wall Street expectations. PayPal is in the midst of a turnaround plan, but it appears the progress may come slower than expected, Jim Cramer said Thursday. Arm Holdings : Shares surged more than 55% following a better-than-expected December quarter and strong sales and profit guidance for its current three-month period. The rise of GLP-1 weight-loss drugs from Eli Lilly , a longtime Investing Club holding, and Novo Nordisk remains something to watch for food companies like Kellanova, Jim said. "If you really do believe GLP-1s are going to be universal, then there will be less of their product bought," Jim said.
Persons: Jim Cramer, Jim, Ralph Lauren, Hershey, Eli Lilly Organizations: PayPal, Apple, CNBC Investing Club, Nvidia, Amazon, Hershey, Kellogg, Club, Novo Nordisk Locations: U.S, China, Novo
Netflix just dropped their preview of upcoming original movies for 2024. Cameron Diaz, Eddie Murphy, Jennifer Lopez, and more will star in new movies on the platform. Here are the most anticipated movies from "Back to Action" to "Unfrosted: The Pop-Tart Story." AdvertisementOn February 1, Netflix shared a preview of their original movies being released in 2024. Here's what to know about this year's most-anticipated Netflix original movies.
Persons: Cameron Diaz, Eddie Murphy, Jennifer Lopez, , Jamie Foxx Organizations: Netflix, Service
How KFC won over China
  + stars: | 2024-01-11 | by ( Shawn Baldwin | ) www.cnbc.com   time to read: +1 min
KFC is one of the world's largest restaurant chains, with more than 29,000 locations and a new outlet opening every three and a half hours, according to Yum! But while much of the brand's early success came from the U.S., today the majority of its growth is in China. KFC China recently celebrated the opening of its 10,000th store in the city of Hangzhou, about an hour outside of Shanghai. So how did KFC overtake other fast food chains like McDonalds , Starbucks and Taco Bell in China, and can the business continue to grow? CNBC traveled to Hangzhou, China, and got an exclusive interview with the CEO of Yum China, Joey Wat, to find out.
Persons: Joey Wat Organizations: KFC, ! Brands, Starbucks, Taco Bell, CNBC, Yum Locations: U.S, China, KFC China, Hangzhou, Shanghai, Yum China
So when I heard we'd be within a short drive of Nevada's Extraterrestrial Highway on a recent trip through the state, visiting was a no-brainer. The 98 miles of Nevada's State Route 375 have been known as the Extraterrestrial Highway since an official name change by the state's tourism commission in 1996. For many, this box marks the best way to reach any aliens that have taken the Extraterrestrial Highway for a whirl. We spent time in Rachel, Nevada, which was filled with odditiesRachel, Nevada, is the closest town to Area 51. The end of our adventure came at the second Extraterrestrial Highway sign at the fork with US Route 6.
Persons: , I'm, we'd, Agnes Groonwald, Jack, Rachel, A'Le'Inn, Burger, hadn't Organizations: Service, Research, Mount, General Locations: Nevada, Rachel , Nevada, Nevada's, Hiko , Nevada, Las Vegas, , Nevada, Crystal Springs, Crystal, E.T, Rachel, Tonopah , Nevada, America
Martha Stewart, hostess extraordinaire, is still participating in the holiday most associated with food and entertaining this year. “It’s not true that I gave up Thanksgiving!,” Stewart wrote in a multi-part Instagram post. The lifestyle and food expert also shared that she was “baking lemon tarts, cranberry tarts, chocolate pecan pies, pecan pies and pumpkin pies.”Chef Marcus Samuelsson and Martha Stewart on the 'Today' show last week. Nathan Congleton/NBC/Getty ImagesCooking isn’t the only thing that’s keeping Stewart busy. “My colossal chocolate turkey, crafted using my giant antique turkey mold, did not survive storage since October, crumbling into itself,” she wrote.
Persons: Martha Stewart, extraordinaire, Stewart, Kelly, “ It’s, ” Stewart, Stephen Sill’s, Marcus Samuelsson, Nathan Congleton, , Organizations: CNN, NBC
Costco sells some American brands and products that aren't commonly available in the UK. Candy brands I saw at Costco included Red Vines licorice, Mike and Ike candy, and Welch's Fruit Snacks. A five-pack of Kraft Macaroni & Cheese Dinner costs £11.19 (around $2.75 per box) on the UK website, whereas on its US website, Costco charges $18.99 for 18 boxes of around the same weight – or just over $1 per box. AdvertisementAdvertisementBrits can still get their tea fixThere were, however, plenty of British products on sale, showing how it had adapted its assortment to UK shoppers. Grace Dean/Insider; Will Martin/InsiderLike many supermarkets in the UK, Costco was keen to point out the local origins of some of its own-brand Kirkland Signature produce as consumers pay more attention to food miles and supporting domestic agriculture.
Persons: , Jerry's, Kraft, Will Martin, Candy, Red Vines, Mike, Ike, I'd, Grace Dean, Tetley, Heinz, Heinz Beanz, Jacks Organizations: Costco, Kraft, &, Service, Kraft Mac, Tesco, Asda, YouTube, Red, pretzels, San Francisco Pretzel Company, Daily, San Francisco Bay Coffee, Kraft Macaroni, Yorkshire Tea, Kirkland, Aberdeen Angus Locations: London, Puerto Rico, Canada, American, San Francisco Bay, South Croydon, Japan
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