The middle-market private equity firm PNC Riverarch Capital has acquired baked foods manufacturer Backerhaus Veit, Ltd. Mississauga, Ont., from Swander Pace Capital.
Nuts and dried fruit processor John B. Sanfilippo & Son, Inc. has acquired the Just the Cheese brand from Specialty Cheese Company, Inc., Reeseville, Wis.
Brian Sikes will become president and chief executive officer of Cargill on Jan. 1, 2023. He will replace Dave MacLennan, who will become executive chair of the board.
A further deceleration in plant-based meat alternative sales has impacted Beyond Meat, Inc., leading to a greater loss than during the same period for the previous year.
Noting that a resolution to the cyberattack that occurred Nov. 6 will take time and result in some service disruptions, executives with Maple Leaf Foods, Inc. said Nov. 8 they are finding “manual workarounds” to keep operations going.
Maple Leaf Foods Inc. has suffered system outages due to a cyberattack, according to the company. The company did not provide details about the scope of the outages within its organization.
Beyond Meat, Inc. is laying off approximately 19% of its workforce and has further reduced its fiscal 2022 sales outlook to a range of $400 million to $425 million. The company is scheduled to release its third-quarter financial results on Nov. 9.