IFF recommends company shareholders do not tender their shares in response to an unsolicited mini-tender offer from TRC Capital Investment Corp. to purchase up to 1.5 million shares of IFF’s common stock.
Key strategic accomplishments across the business, particularly the company’s progress on productivity and innovation objectives, lifted fiscal 2022 earnings and revenues at ADM, said company executives.
Hormel Foods Corp. will increase advertising spend on its turkey portfolio in fiscal 2023 after raising prices in fiscal 2022. Highly pathogenic avian influenza (HPAI) should continue to impact the turkey category negatively in the next fiscal year, but to what degree remains unknown.
Sluggish consumer demand ate into IFF volume numbers in the third quarter ended Nov. 30. Volume was challenged in two IFF segments, Nourish and Health & Biosciences, said Glenn Robert Richter, chief financial officer, in a Nov. 8 earnings call.
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