Year in Review: The Top Supplier News of 2024
NATIONAL REPORT — Much has been said about the merger-and-acquisition activity in the convenience channel and often the focus is on the retail side of the business. However, the channel's supplier and wholesale partners have been busy making deals of their own.
Well-known companies in the food and beverage sector, as well as the snacking circles, made waves with Mars Inc.'s agreement to acquire Kellanova for a total consideration of $35.9 billion leading the pack.
These are the top 10 supplier headlines of 2024, as reported by Convenience Store News:
1. Mars to Acquire Kellanova
The $35.9 billion deal enhances the manufacturer's strategic vision for the future of snacking.
2. Hershey Rejects Mondelēz's Preliminary Takeover Bid
Hershey Trust Co. deemed the offer too low.
3. Performance Food Group Grows Southeast Reach in $2.1B Deal
Cheney Brothers' diverse range of foodservice customers will add new clients to the company's base.
4. JT Group Completes Deal for Vector Group
JT Group acquired all outstanding shares of Vector Group common stock for $15 per share in cash.
5. Pepsi Grows Snacking Business With New Acquisition Pact
The move meets the growing demand for healthier on-the-go options.
6. J.M. Smucker Co. Completes Sale of Voortman Brand
The divestiture is a continuation of the company's strategy to optimize its portfolio and reallocate resources to its core growth brands.
7. British American Tobacco & Philip Morris International Settle Patent Dispute
Terms allow both companies to innovate and introduce new product iterations.
8. Paytronix Joins U.K.-Based Access Group
The transaction comes seven years after the company's purchase by Great Hill Partners.
9. Acosta Group Completes Crossmark Acquisition
The merger grows the company's team to more than 60,000 associates.
10. McLane Opens Dedicated Hub for Development & Innovation
The Innovation Kitchen allows visitors to explore a full scale replica of a convenience store layout.