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☆ General Mills sells North American yogurt operations in $2 billion deal to focus on stronger brands
▼ + stars: | 2024-09-12 | by ( ) edition.cnn.com time to read: +2 min

CNN —General Mills will sell its North American yogurt business to French dairy firms Groupe Lactalis and Sodiaal in a $2.1 billion deal, the Cheerios maker said on Thursday. Reuters reported in April that General Mills was working with investment bank JPMorgan Chase to attract interest from potential buyers for the business, which houses brands such as Yoplait and Liberté. The North American yogurt business contributed about $1.5 billion to General Mills’ fiscal 2024 net sales. Bloomberg News earlier on Thursday reported that General Mills was in talks to sell the North America yogurt operations to Groupe Lactalis and Sodiaal. In 2021, General Mills sold the European operations of Yoplait to Sodiaal.

Persons: Mills, Lactalis, Sodiaal, Jeff Harmening, Yoplait, General Mills Organizations: CNN, Groupe Lactalis, Canadian, Reuters, JPMorgan Chase, Bloomberg, General, PAI Partners Locations: U.S, Valley , Minnesota, North America, Yoplait, Sodiaal

☆ Anchor Brewing gets new lease on life after it finds an unexpected buyer
▼ + stars: | 2024-06-03 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Anchor Brewing, America’s oldest craft brewer, closed last summer after more than 127 years in business. Anchor closed in July 2023 and its former parent company Sapporo USA put it up for sale after facing years of declining sales. Despite Ulukaya’s excitement about reviving the 127-year-old brand, the craft beer business has been in decline as drinkers shift to spirits and cheaper alternatives. “The brand struggled because it kept relevance with longtime, committed craft beer enthusiasts, but rarely registered with young people or casual drinkers,” Roth said. “Focusing on Anchors legacy, stature, and part of American craft beer history could help the brewery form new emotional connections with drinkers.”

Persons: it’s, Hamdi Ulukaya, Brewing’s, Ulukaya, ”, Anchor’s, Jose Sarmento Matos, there’s, ” Bryan Roth, ” Roth Organizations: New, New York CNN, Brewing, LinkedIn, San, Sapporo, Bloomberg, Getty, San Francisco, Feel Goods Company, CNN Locations: New York, San Francisco, California, Sapporo USA, Sapporo, Potrero Hill

☆ Chobani Yogurt Founder Buys Anchor Brewing Company
▼ + stars: | 2024-05-31 | by ( Emily Schmall | More About Emily Schmall | ) www.nytimes.com time to read: 1 min

The billionaire owner of the yogurt company Chobani said on Friday that he had acquired Anchor Brewing Company, the San Francisco brewer that went out of business last year after 127 years. Hamdi Ulukaya, who is also Chobani’s chief executive, said a video posted on social media that he looked forward to bringing Anchor Brewing “back to life.” The price Mr. Ulukaya paid to acquire the brewing company’s assets from a liquidator was not disclosed. The company, said to be America’s oldest craft brewer, announced it was shutting down in July 2023, citing the effects of the pandemic, inflation and a highly competitive beer market. Sam Singer, a spokesman for Anchor, said on Friday that the company was “very pleased” about the acquisition.

Persons: Chobani, Hamdi Ulukaya, Ulukaya, Sam Singer Organizations: Anchor Brewing Company, Anchor Brewing, Anchor Locations: San Francisco

☆ Viking is the biggest IPO of the year, capping off a huge month for IPOs
▼ + stars: | 2024-05-01 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

The Viking Holdings Ltd. IPO, which starts trading today on the New York Stock Exchange, will be the biggest IPO of 2024 so far. Viking is only the biggest in a month of standouts. Eighteen IPOs raised a combined $5.3 billion in April, according to Renaissance Capital, the busiest month for IPOs since November 2021. The stock market had a miserable April, with the S & P 500 down 4% and, unsurprisingly, many recent IPOs were down. All of the larger, most recent IPOs remain above their initial offering price.

Persons: Del Organizations: Viking Holdings, New York Stock Exchange, Renaissance Capital, IPOs, Viking, Holdings, Epic Locations: Bermuda, Del Monte

☆ The IPO reopening is real. Just look at Rubrik, the first unicorn to go public in months
▼ + stars: | 2024-04-25 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Last night data security firm Rubrik priced 23.5 million shares at $32, above the price talk of 23 million shares at $28-$31, raising $752 million. Rubrik is the first tech unicorn IPO since last fall. Marex Group, a UK-based financial services company known for its global clearing business, priced 15.4 million shares at $19, the midpoint of the price talk of $18-$21, raising $292 million. Loar Holdings, which makes aerospace and defense components, priced 11 million shares at $28, above the range of $24-$26, raising $308 million. All eyes on Rubrik Rubrik is an important test of the tech IPO market.

Persons: Matt Kennedy, Rubrik, Kennedy, Ingram, Del Organizations: Marex, Nasdaq, Loar Holdings, New York Stock Exchange, Viking Holdings, Arm Holdings, Renaissance Capital, UL, Astera Labs, Forge, Companies, Ingram Micro, Epic Locations: Del Monte

☆ There are green shoots appearing in the IPO market. Here are the stocks to watch going public soon
▼ + stars: | 2024-04-10 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Two months ago, I wrote a story entitled, "The IPO market is looking very shaky and facing challenges galore." Two months later, the IPO market is still shaky, but there are definite signs of improvement. Second, three $100 million IPOs have filed to go public in the past week, including Viking (the cruise line operator) and Rubrik, a data management platform. Greg Martin at Rainmaker Securities told me that the recent performance of Reddit and Astera Labs, "Were nice shots in the arm for the IPO market. Even with markets at new highs, the specter of interest rates creeping up is still hanging over the IPO market.

Persons: Matt Kennedy, Reddit, Greg Martin, Ibotta, Ingram, Del, Viking, Howe Ng, I'm, Martin, Rainmaker, Santosh Rao Organizations: IPOs, Viking, Renaissance Capital, Astera Labs, Rainmaker Securities, NYSE, UL Solutions, Underwriters Laboratories, Nursing, Centuri Holdings, Labs, Companies, Ingram Micro, Epic, Manhattan Venture Partners Locations: IPOs, Del Monte

☆ Refugees are no longer refugees the minute they get a job, Chobani CEO says
▼ + stars: | 2024-03-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRefugees are no longer refugees the minute they get a job, Chobani CEO saysHamdi Ulukaya, CEO of Chobani and founder of the Tent Partnership for Refugees, discusses the importance of supporting refugees in entering the labour market

Persons: Hamdi Ulukaya Organizations: Refugees, Tent Partnership

☆ BlackRock's next high-stakes bet: lending out cash
▼ + stars: | 2023-10-31 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +11 min

Goldstone was referring to a type of business-development company, an investment vehicle widely used in the private-credit market. The vehicle Condor allocated to is a slice of BlackRock's $81 billion private-credit business, which is part of the wider $317 billion alternative-assets platform. 'Size matters'In the summer, BlackRock executives teased out their focus on private credit and fixed income broadly during an investor-day presentation. BlackRock's string of private-credit developments adds up to a long-term bet that this dynamic will continue. "That, in essence, is the paradox of private credit."

Persons: David Goldstone, Goldstone, BDC, it's, hasn't, Rowe Price, Franklin Templeton, Blackstone, Axel Springer, Greg Greifeld, Greifeld, Tim Clarke, Rob Kapito, We've, Jim Keenan, BDCs, Keenan, Clarke, PitchBook, they're, Larry Fink, " Fink, Merrill Lynch, BlackRock, Jared Gross, J.P, Phil Tseng, BlackRock's, Gross, Morgan Organizations: Condor Capital Wealth Management, Condor, BlackRock, BlackRock doesn't, Federal Reserve, Fidelity, Apollo, KKR, Growth, BlackRock TCP Capital Corp, BlackRock Capital Investment Corp, Kreos, Barclays, Tennenbaum Capital Partners, Morgan, who's Locations: New Jersey, BlackRock, PitchBook, Banks, London

☆ Goal-setting can set you up for failure—experts share 2 simple alternatives
▼ + stars: | 2023-09-28 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +3 min

At some point in your life, you've probably set a goal. Even setting a goal in the first place can limit you, according to Wharton organizational psychologist Adam Grant. People who set goals and stubbornly stick to them are "not seeing the dimension of possibilities," Ulukaya said on Grant's podcast in July. Of course, some parts of goal setting are highly valuable. Setting goals and thinking about self-optimization tactics can clutter your mind, unintentionally distracting you from the task at hand, he tells CNBC Make It.

Persons: Emmanuel Acho, you've, Adam Grant, Grant, Hamdi Ulukaya, James Clear, Ulukaya, Francis Sanzaro, Sanzaro Organizations: New York Times, CNBC Locations: Austin , Texas

☆ CEOs from Alphabet, Walmart, Pfizer meet White House officials on refugees
▼ + stars: | 2023-09-14 | by ( Jeff Mason | Thomson Reuters | Jeff Mason Is A White House Correspondent For Reuters. He Has Covered The Presidencies Of Barack Obama | ) www.reuters.com time to read: +2 min

REUTERS/Annegret Hilse/File Photo Acquire Licensing RightsCompanies Accenture PLC FollowAirbnb Inc FollowAlphabet Inc Follow Show more companiesWASHINGTON, Sept 14 (Reuters) - Chief executives from a wide array of U.S. companies will meet White House Chief of Staff Jeff Zients on Thursday to discuss refugee resettlement and sponsorship programs, a White House official said. The CEOs will include Alphabet's Sundar Pichai, Walmart's Doug McMillon, Pfizer's Albert Bourla, HP's Enrique Lores and others. They are part of a council of leaders affiliated with Welcome.US, a group dedicated to helping support refugees in the United States. They will meet Zients and other White House officials "to discuss specific ways we can continue to work together to support safe, orderly pathways for people in need of safety to come to the United States, including through refugee resettlement and new, expanded humanitarian sponsorship programs," a White House official told Reuters. The White House, which says it wants to partner with the private sector to build a humane immigration system, worked with Welcome.US to help Afghan refugees coming to the United States after Biden pulled U.S. troops out of Afghanistan in 2021.

Persons: Annegret, Jeff Zients, Alphabet's Sundar Pichai, Doug McMillon, Pfizer's Albert Bourla, HP's Enrique Lores, Richard Dickson, Julie Sweet, David Risher, Hamdi Ulukaya, Mike Sievert, Goldman Sachs, Kathy Hochul, Zients, Biden, Donald Trump, Welcome.US, Jeff Mason, Christian Schmollinger Organizations: Google, Arena, REUTERS, Accenture, White, Welcome.US, Reuters, Lyft, Mobile, Blackstone, Comcast, Meta, Republicans, Democrat, Republican, Biden, Thomson Locations: Berlin, Germany, WASHINGTON, United States, Airbnb, New, New York City, United, Afghanistan

☆ Hundreds of people applied to be a ghostwriter for a yogurt company CEO. The kicker — the job pays up to $278,400 a year.
▼ + stars: | 2023-09-08 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

American Greek yogurt company Chobani was looking for an executive writer to ghostwrite for their CEO, paying up to $278,400 a year. Hundreds of people applied for the post, which has now been filled, per Chobani's website. The job post went viral online, prompting plenty of people to wonder aloud if their future lies in yogurt. On August 17, New York-based yogurt company Chobani posted an advert on its website and LinkedIn, offering between $185,600 and $278,400 in annual compensation — excluding bonuses — for a role writing on behalf of its CEO Hamdi Ulukaya. Still, the writing role's salary provoked a flood of social media reactions from people wondering if their future lies in yogurt.

Persons: ghostwrite, Hamdi Ulukaya, —, Lisa Lucas, @FrancisOKC, Chobani Organizations: Service, LinkedIn, Saks, Chobani Locations: Wall, Silicon, New York, York, Turkish, Iraq, Afghanistan

☆ Billionaire Chobani CEO Hamdi Ulukaya says successful people can ditch this ‘rigid’ trait: It’s ‘never been my thing’
▼ + stars: | 2023-07-23 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

Chobani founder and CEO Hamdi Ulukaya went from working on a farm with little money to running a billion-dollar business — and he did it without sticking to a plan. "[When you stick to plans] you're creating some kind of rigid lines and not seeing the dimension of possibilities." Years later, Ulukaya came across an ad for a fully equipped yogurt factory — and buying it meant he needed a business plan. "I made my first business plan that I wrote for the Small Business Administration to [get a loan] to buy that whole factory... Ulukaya isn't the only one ditching the conventional wisdom of building a career plan and sticking to it.

Persons: Hamdi Ulukaya, Adam Grant, Grant, Ulukaya, Chobani, Tim Cook, Cook, I'm Organizations: Small Business Administration, Apple, Duke University Locations: Turkey, New York

[1/3] The sign outside the Sam's Club is seen at its store in Shanghai, China July 12, 2023. The membership stores are also gaining ground amid a sales decline in China's hypermarket sector, which struggled with a shift towards online purchases during the pandemic. The club warehouse format "is the only bright spot," said Derek Deng, who leads Bain & Company's consumer products practice in greater China. "Sam's Club are doing well. But Sam's Club was ultimately confident it is currently miles ahead, one of the people said.

Persons: Aly, Liu Zheng, lockdowns, Derek Deng, Bain, Kantar Worldpanel, Judith McKenna, Bain's Deng, Christina Zhu, Sophie Yu, Brenda Goh, Jamie Freed Organizations: Sam's, REUTERS, Sam's Club, Costco, Walmart, HK, Freshippo, Carrefour, Yonghui, Bain, Reuters Graphics, Reuters, Sun, Retail, M, Beijing Yaodi Agriculture, M Club, Thomson Locations: Shanghai, China, BEIJING, Beijing, U.S, United States, Carrefour China, Peking, Yangzhou, Lanzhou, Sam's

☆ Forget retirement. These Baby Boomers are amassing huge social media followings
▼ + stars: | 2023-06-16 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +4 min

And that was the turning point in social media for me,” Polise said. And Chobani worked with 74-year-old Lynn Davis, whose cooking videos have attracted 15.7 million TikTok followers, for an ad promoting the brand. Most Americans on social media are between the ages of 18 and 29. But the number of people 65-plus on social media grows each year: In 2014, 21% of those in that age group were on social media, a figure that more than doubled to 45% by 2021, according to Pew Research. She says her over-the-top eclectic style catches the eye of her younger followers, inspiring them to take risks and express themselves.

Persons: Helen Polise isn’t, ”, I’ll, ” Polise, She’s, Polise, I’m, Goldman Sachs, Chobani, Lynn Davis, influencer Debra Rapaport, “ I’m, I’ve, “, messaged Organizations: New, New York CNN —, Brands, Hyundai, Pew Research Locations: New York, Palm Springs

☆ Pre-market stocks: Chobani CEO says he won't be captive to profit-margin demands
▼ + stars: | 2023-05-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Chobani was slated to go public in 2022 but withdrew its filing as market conditions deteriorated. In a discussion with CNN, Ulukaya said the company still has plans to go public when market conditions stabilize. Single-serve Chobani® products, including Chobani® Flip®, Probiotic, Complete, Less Sugar, Chobani® with Zero Sugar and Greek Yogurt are seen on the shelf at a local grocery store on August 12, 2021 in New York City. But we are OK to be in the public market. I think people understand what Chobani is all about and they understand that this is tomorrow’s brand and tomorrow’s company.

☆ You can call almond milk 'milk,' but there's a catch, the FDA says
▼ + stars: | 2023-02-23 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Almond milk and other plant-based drinks can be labeled "milk," the Food and Drug Administration said. But if they do, they should explain the nutritional differences between their plant-based milk and cow's milk, the FDA said. It also recommends that plant-based milk makers include a statement on their label clarifying the differences between their product and cow's milk. "We applaud FDA's recognition that consumers understand the difference between plant-based milk and cow's milk and that shoppers choose to purchase plant-based milk specifically because it is not cow's milk," Madeline Cohen, senior regulatory attorney at the Good Food Institute, which advocates for plant-based brands, said in a statement. The National Milk Producers Federation, which represents the US animal milk industry, said the proposed guidance would allow plant-based companies "to continue inappropriately using dairy terminology."

☆ How companies are trying to help victims of the earthquake in Turkey and Syria
▼ + stars: | 2023-02-08 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +4 min

London CNN —Companies around the world are racing to provide help to the victims of the devastating earthquake straddling Turkey and Syria, by donating food, medicines, services and cash. Hamdi Ulukaya has donated $1 million to an earthquake relief fund set up by Turkish Philanthropy Funds, the US-based donor organization has said. please donate to @tphilanthropy earthquake relief and recovery efforts. The aid organization is working to help people in Turkey and Syria affected by the quake. Aid agencies are particularly worried about victims in northwestern Syria, where more than 4 million people were already relying on humanitarian assistance.

☆ Impossible Foods founder Pat Brown is taking a leave of absence less than 2 months after launching an innovation arm at the plant-based meat company
▼ + stars: | 2022-11-17 | by ( Alex Bitter | ) www.businessinsider.com time to read: +2 min

Impossible Foods Founder Pat Brown is taking a leave of absence from the company. Brown stepped down from the top job in April to make way for Peter McGuinness, a Chobani veteran. Impossible Foods founder Pat Brown is taking a leave of absence from the plant-based meat company, Insider has learned. Brown's leave started this week, according to an email sent to staff and shared with Insider by two employees. Impossible employees have told Insider that McGuinness has brought more business experience to the CEO role.

Reuters, citing sources, had reported in April that the stock market flotation could value Mobileye at as much as $50 billion. "Most companies don't have the grit needed to blaze a trail with all this public market volatility." IPOs by U.S. technology companies have sunk to their lowest levels since the global financial crisis of 2008, as several companies have shelved plans for their listings in the country. read moreTech IPOs this year have raised $507 million, according to Refinitiv data, the lowest amount that has been raised through flotation since 2000. Goldman Sachs, Morgan Stanley, Citigroup and BofA Securities are among underwriters of Mobileye's offering.

☆ A merger with Albertsons could bring Kroger's tech initiatives, like automated warehouses and smart carts, to over 5,000 locations
▼ + stars: | 2022-10-17 | by ( Alex Bitter | Nancy Luna | ) www.businessinsider.com time to read: +13 min

Kroger is building its own tech infrastructure, including automated warehouses for delivery orders. Here are Kroger's biggest e-commerce and technology initiatives:A ClusterTruck ghost kitchen inside a Kroger in the Midwest. The delivery-focused ghost kitchen touts a Cheesecake Factory-inspired menu of 80 to 100 food items. Over the last few years, ClusterTruck opened locations inside Kroger stores in Indiana and Ohio. Another partnership, this one with the autonomous-car startup Nuro, has stationed self-driving vehicles to deliver grocery orders in certain cities since 2018.

☆ Impossible Foods' new CEO is pining for a Super Bowl ad and status as a household name. First, he'll have to win over employees.
▼ + stars: | 2022-10-14 | by ( Alex Bitter | ) www.businessinsider.com time to read: +10 min

Peter McGuinness, Impossible Foods' new CEO, has said he wants a Super Bowl ad. "He's said 'Super Bowl ad' at least a thousand times," a current marketing employee said. But Super Bowl spots cost several million dollars each, putting them out of reach for Impossible, the employee said. Insider spoke with five current and former Impossible Foods employees about McGuinness' and Brown's leadership and the future of the company. Impossible Foods meatballs Impossible FoodsFrom R&D to marketingUnder Brown, Impossible was a company focused on research and development.

Sept 29 (Reuters) - Initial public offerings by U.S. tech companies have sunk to their lowest levels since the global financial crisis of 2008, as stock market volatility, soaring inflation, and interest rate hikes have soured investor sentiment towards new listings. Register now for FREE unlimited access to Reuters.com RegisterUS tech IPOs total proceeds in first three quartersAnalysts interviewed by Reuters said a steep drop in stock market valuations has deterred tech firms from pursuing stock market launches. "This is a terrible backdrop for IPOs, in particular tech IPOs, which rely on bull markets and momentum investors to bolster their market entries." The Renaissance IPO index, which captures the largest and most liquid U.S IPOs, has slumped 50.4% this year, compared with the S&P 500 index's drop of 23%. YTD performance of the Renaissance IPO index and S&P 500 indexShares of Corebridge Financial Inc (CRBG.N), which launched the largest IPO in the U.S. this year, were trading about 4% below its offer price of $21 on Wednesday.

☆ Leaked email: Impossible Foods founder Pat Brown stepping down from c-suite role to lead new research arm as executive shake-up continues at the plant-based meat maker
▼ + stars: | 2022-09-26 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Impossible Foods founder Pat Brown is stepping down as chief science officer. He'll lead Impossible Labs, a new arm of the plant-based meat company focused on research. Pat Brown is moving into a new role at Impossible Foods, the company he founded and used to helm as CEO, for the second time this year. In an email, an Impossible Foods spokesperson confirmed Brown's new role and said it was a planned leadership change. In the meantime, three other research and development executives will report directly to McGuinness: Rachel Fraser, vice president of downstream process development; Sergey Solomatin, vice president of research, materials, and texture; and Celeste Holz-Schietinger, vice president of product innovation.

☆ Kroger is doubling down on its subscription delivery business as it weans itself off of Instacart. Here's a rundown of its other initiatives, from ghost kitchens to smart carts
▼ + stars: | 2022-09-26 | by ( Alex Bitter | Nancy Luna | ) www.businessinsider.com time to read: +12 min

Here are Kroger's biggest e-commerce and technology initiatives:A ClusterTruck ghost kitchen inside a Kroger in the Midwest. ClusterTruckGhost kitchensIn December 2019, Kroger began improving its prepared meals offering by partnering with ghost kitchen startup ClusterTruck. The delivery-focused ghost kitchen touts a Cheesecake Factory-inspired menu of 80 to 100 food items. Over the last few years, ClusterTruck opened locations inside Kroger stores in Indiana and Ohio. But the firm, which tracks where consumers shop, said Kroger stores with the ghost kitchens are seeing an uptick in visits compared to neighboring Kroger branches.

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