General Mills beat quarterly sales estimates on Wednesday, as more consumers ate at home than dined out, boosting demand for the Cheerios maker's pantry staples and breakfast cereals. ...

Core Insights - Cerealto has acquired a majority stake in Fresca Foods, marking its entry into the US market and enhancing capabilities in high-growth snacking segments [1][2] - The partnership is expected to significantly increase Cerealto's presence in North America, which will account for 20% of its annual revenues of €526 million ($605.2 million) [2][4] - Fresca Foods specializes in producing snack bars, granola, breakfast cereals, crackers, and cookies on a contract basis, with an annual revenue of €97 million [6] Company Expansion - The acquisition allows Cerealto to shift its business focus from predominantly European markets to a more international scope, particularly in the US, which is the largest snacking market [3][4] - The US organic snacking category is valued at approximately $32 billion and is projected to grow at over 6% annually, presenting a significant growth opportunity for Cerealto [4] - Following the acquisition, Cerealto will operate ten production plants across four countries, with plans to add two more facilities in the US [5][6] Management and Operations - Fresca Foods' management will continue to oversee operations, retaining a significant shareholding in the company [1] - The partnership aims to enhance manufacturing and innovation platforms, leveraging the expertise and ambitions of both companies [4][6] - Cerealto's CEO, Bosco Fonts, emphasized the strategic importance of this partnership in establishing a strong foothold in the US market [3]

Core Insights - Calbee has acquired a 58% stake in US-based tofu-maker Hodo, marking its entry into the US plant-based food market and aiming to accelerate the growth of its international "health and food" businesses [1][2] - Sagamiya Foods, a Japan-based tofu manufacturer, will also take a 10% interest in Hodo, providing technical support to promote and expand tofu culture in the US [1][3] Company Strategy - The acquisition aligns with Calbee's three-year transformation plan initiated in February 2023, focusing on overseas expansion, particularly in the US, and the development of its "food and health" business [2][4] - Calbee's CEO highlighted the growing demand for sustainable foods, particularly tofu, which is gaining traction among health-conscious consumers in the US market [2][4] Hodo's Position - Hodo, founded in 2004 and based in Oakland, California, supplies retail and foodservice and offers a portfolio that includes other plant-based foods such as nuggets, veggie-burgers, and egg replacement products [4][5] - Hodo's founder expressed excitement about Calbee's vision and commitment to providing healthier food options without compromising on taste [5]