News by tag: Food and Beverage


Switzerland bans cruelty against lobsters alive

Switzerland has banned crustacean cruelty, which means no boiling a lobster while it's alive. On Wednesday the Swiss government announced the ban of boiling live lobsters without stunning them first, swissinfo reported. By March 1, 2018, the government has ordained Swiss chefs will have to "stun" the crustaceans first before they drop them into the boiling hereafter. “Live crustaceans, including the lobster, may no longer be transported on ice or in ice water. Aquatic species must always be kept in their natural environment. Crustaceans must now be stunned before they are killed,” according to the new Swiss law.

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Nestlé: big acquisition with $2.3 billion bid for supplement maker Atrium

Nestlé Chief Executive Officer Mark Schneider made his biggest acquisition yet, agreeing to buy Canadian dietary supplements maker Atrium Innovations for $2.3 billion in a bid for growth beyond stagnating mainstream food brands. The world’s biggest food company is acquiring Westmount, Quebec-based Atrium from an investor group led by Permira Funds, Nestlé said in a statement Tuesday. The Swiss owner of Nespresso and Lean Cuisine is paying cash for the Garden of Life supplement maker, whose 2017 sales are expected to approach $700 million.

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Nestlé landed in Cuba with a $55 million factory

Nestlé is investing 54 million Swiss francs ($55 million) to construct a new factory in Cuba, which will employ 260 people by its third year, it said Wednesday. The Swiss company said that the site will produce its coffee brand Nescafe, Cuban coffee Serrano, Nestle Fitness cereal snacks, powdered beverage Nesquick and Maggi-brand cooking aids.

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Chipotle downgraded by excessive labor costs

Shares in Chipotle Mexican Grill Inc. were falling slightly Wednesday after an analyst downgraded the stock, claiming excessive labor costs. Bank of American Merrill Lynch downgraded Chipotle and cut its earnings targets for 2018 and 2019, saying the struggling restaurant chain will have trouble cutting back labor costs any further than it already has.

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Nestlé: results are in line with expectations

Nestlé, the world's largest food maker, reported an increase in real internal growth for the first nine months of the year but expects its trading operating profit margin to drop 40-60 basis points due to higher restructuring costs. The Swiss company said net divestments had a negative impact of 2.6% due to the creation of the Froneri joint venture. The Swiss consumer giant said Thursday it struggled in its largest market, the U.S., where it is trying to sell its confectionery business. Elsewhere, its ability to raise prices was limited by weaker currencies in some emerging markets.

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Russia: Burger King wants to ban "It" movie

According to The Hollywood Reporter, Burger King is petitioning the Russian government’s Federal Anti-Monopoly Service to ban It from showing in theaters because they argue that the Stephen King reboot could potentially hurt its business.  Apparently, Burger King is afraid that audiences will watch an evil clown terrorize a bunch of children for two hours and get inspired to give their business to another similarly red-haired clown. It's basically the opposite argument that all those hardworking clowns made when they feared that IT would wreck their birthday party business, but whatever.

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Nestlé reveals profit targets for the first time

Food giant Nestle on Tuesday set a formal margin target and confirmed it wants to return to mid-single-digit organic sales growth by 2020. “The company will detail how it will reach its mid-single digit organic growth target by 2020, and will announce an underlying trading operating profit margin target of 17.5-18.5 percent by 2020,” the Swiss maker of KitKat chocolate bars and Nespresso portioned coffee said ahead of a highly anticipated investor seminar, the first time its new chief executive will lay out his strategy for Europe’s largest company.

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Nestlè launched first food safety institute in India

Nestle India on Wednesday said it has inaugurated the first Nestle Food Safety Institute (NFSI) in the country at its Research and Development (R&D) Centre in Manesar to develop a collaborative approach towards ensuring safe food. According to the company, NFSI India, an integral part of Nestle R&D Centre India will work closely with the Nestle Research Center in Lausanne, Switzerland.

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Swiss Emmentaler is the Superfood, South Korea's research says

As if you needed any more justification, the case for eating cheese just got stronger. Granted the study was carried out on worms, but researchers at Korea University in Seoul have found a link between cheese and longevity. Emmentaler – a.k.a. Swiss cheese (cow’s milk cheese with cherry-sized holes) – contains the bacterium Propionibacterium freudenreichii. According to Metro News, it’s this bacterium in particular that the scientists examined, finding that it decreases inflammation and by extension, promotes longevity.

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Swiss meat the most expensive, more than the average worldwide

Online catering marketplace, Caterwings, have conducted a study regarding the global price of basic food items, as preliminary research ahead of their expansion into foreign markets. The research highlighted in particular that the cost of meat around the world is remarkably varied. To share these insights, Caterwings have released the 2017 Meat Price Index, which details the cost of meat in over 50 countries worldwide. The study revealed that Switzerland has the highest meat prices, at 141.9% more expensive than the average cost worldwide, followed by Norway (63.7% more expensive) and Hong Kong (61% more expensive), while Ukraine has the least expensive meat prices, at 52.3% less expensive than the average cost, closely followed by Malaysia (50.3% less expensive).

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