Food Roundup: No Mergers for PepsiCo, Cadbury is All-Candy, Whole Foods Outlook Grim, and More
PepsiCo to Refrain from Acquisitions — CEO Indra Nooyi said the drinks-and-snacks giant will concentrate on innovation. The company will “significantly” boost its research budget, she said. [Source: Bloomberg]
Cadbury Sells off Last of its Beverages Business — The confectioner also said it will maintain its full-year forecast despite the recession. It also named a new CFO. [Source: Dow Jones]
Cracker Barrel Credit Rating Cut — Standard & Poor’s revised its outlook on the restaurant chain to “negative” from “stable.” Last month, the company reported profits fell by 8 percent. [Source: AP]
Analyst: Whole Foods Outlook Grim — JPMorgan’s Charles Grom expects sales to fall 3.3 percent in the coming year. He says Whole Foods high-price image is turning off consumers. [Source: AP]
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