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People & Industry News: January 2011

January 1, 2011
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PepsiCo agreed to acquire 66 percent of Wimm-Bill-Dann Foods, a major Russian branded food and beverage company, for $3.8 billion, pending the required government approvals.

Del Monte Foods Company and an investor group led by funds affiliated with Kohlberg Kravis Roberts & Co. L.P., Vestar Capital Partners and Centerview Partners have signed a definitive agreement under which they will acquire Del Monte for $19.00 per share in cash.

PepsiCo appointed Timothy P. Cost to the newly created position of executive vice president, global corporate affairs.

Bryant and Mackay

David Mackay retired from his post as president and CEO of Kellogg Co., and Chief Operating Officer John A. Bryant has assumed the role of CEO.

The Hershey Co. named J.P. Bilbrey to the newly created role of chief operating officer. Bilbrey was the president of Hershey North America.

General Mills will purchase Mountain High Yogurt from Dean Foods in a sale that is expected to be complete in early 2011.

YoCream International, Inc. entered into a definitive merger agreement with Danone under which a subsidiary of Danone will merge with YoCream.

Mark A. Duffy joined ConAgra Foods, Inc. as vice president and general manager of Spicetec Flavors & Seasonings.

The Grocery Manufacturers Association (GMA) appointed John Hewitt as director, state affairs.

Sara Lee signed an agreement to purchase Cafe Damasco, a Brazilian coffee company, for $60 million.

ABB will acquire Baldor Electric Company based on an agreed transaction where ABB will pay $63.50 per Baldor share for an overall transaction value of $4.2 billion, including net debt of $1.1 billion. The acquisition is expected to be complete in the first quarter of 2011.

Neil McAdam joined World Water Works Inc. as vice president of industrial sales.

Stratas Foods LLC appointed Tedd Kruse to the position of chief executive officer.

The Coca-Cola Company Board of Directors elected Howard G. Buffett as a director.

GS1, a non-profit organization that develops supply chain standards, named Kroger COO Rodney McMullen as its chairman.

Maines Paper & Food acquired Watertown, NY-based CFM Food Distributors.

The tomato business of Violet Packing was acquired by B&G Foods.

Bumble Bee Foods announced the completion of the acquisition of all assets and operations of Bumble Bee Foods from Centre Partners Management LLC by funds advised by Lion Capital LLP.

Cargill signed an agreement with Agro Tech Foods Ltd. (India) to acquire its vanaspati (purified hydrogenated vegetable oil) brand Rath. Rath is a leading vanaspati brand in North India and a market leader in the National Capital Region of Delhi.

Nestlé opened a new USD $136 million manufacturing facility in Dubai to serve Nestlé markets across the region.

Ecolab Inc. has closed on its previously announced purchase of the assets of the Cleantec business of Campbell Brothers Ltd., Brisbane, Queensland, Australia.

Chicago-based Berlin Packaging acquired Continental Packaging Solutions, increasing the number of Berlin sales and warehouse locations in North America to more than 70.

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