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The pandemic accelerated a five-year trend of large manufacturers losing market share to smaller players, but consumers' return to normal travel patterns should slow the momentum.
An acquisition by the Minnesota company would complement its Skippy and Justin's offerings while allowing Kraft Heinz to focus its portfolio on faster-growing, trendier brands.
After years of multibillion-dollar deals, food and beverage companies remain as active as ever in M&A. Discover the latest moves by food giants in this Trendline.
Quash Seltzer, which has common ownership with the energy drink brand, said the CPG giant is blocking its efforts to create a distribution network — causing economic harm "in the billions of dollars."
The stock and cash deal comes as the profitable startup has seen demand surge during the pandemic with the service now offered in more than 1,400 cities.
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