Hershey Foods’ third-quarter results exceeded Wall Street analysts’ estimates, thanks to pricing increases and the company’s expanded portfolio of healthier snacks, Reuters reports.
The company said it expects sales for fiscal 2019 to be up about 2.5% over its prior growth forecast of about 2%. It also reported net income of $325.3 million or $1.54 per share for the quarter, up from $263.7 million or $1.25 per share a year earlier.
In August, Hershey acquired One Brands, maker of low-sugar, high-protein nutrition bars, for $397 million. Over the past two years, the company has spent about $2 billion on the acquisition of better-for-you snack companies, including Skinny Pop maker Amplify Snack Brands and Pirate Brands, maker of Pirate’s Booty baked snacks. The company has also implemented price increases, most recently in July.
IFF Health, Shanghai, has announced a strategic partnership for R&D of anti-aging ingredients with By-Health, a Chinese maker of dietary supplements and raw materials.
To further increase the understanding of the microbiome’s impact on human health and to accelerate the development of innovative nutritional solutions promoting health and wellbeing, Nestlé has entered into a partnership with the University of California San Diego Center for Microbiome Innovation (CMI).
Bimbo Bakeries USA has announced that it is committing to 100% sustainable packaging for its entire product portfolio by 2025.
The NC Food Innovation Lab (NCFIL) will open on November 14, with a ribbon cutting, facility tour, and open house celebration. NCFIL is a 16,000-square-foot plant-based food processing and product development facility located on the 350-acre North Carolina Research Campus in Kannapolis, N.C.