Story of the Week Fed cuts rates by a quarter point, scales back cuts for 2025 The Federal Reserve reduced interest rates by a quarter percentage point on Dec 18th and scaled back the number of cuts it expects to make next year. In a split vote, the central bank voted to reduce its benchmark […]

Story of the Week Albertsons sues Kroger after judge rules against grocery merger Albertsons on Wednesday formally terminated its proposed $25 billion merger with Kroger and filed a lawsuit against its supermarket competitor, saying Kroger violated its contract and did not follow through on commitments to help get the deal approved. It comes a day […]

Story of the Week TreeHouse Foods buys private label tea business for $205M TreeHouse Foods is buying the private brand tea business of Harris Freeman & Co (Harris Tea) for about $205 million. The acquisition includes Harris Tea’s manufacturing facilities in Moorestown, New Jersey, and Marietta, Georgia. Approximately 300 Harris employees will join TreeHouse. The […]

Story of the Week PepsiCo to acquire full ownership of Sabra, Obela brands for $244M PepsiCo is purchasing the remaining half of Sabra and Obela dip and spread brands that it doesn’t already own from Strauss Group. The Israeli food manufacturer said PepsiCo is paying $240.8 million for the rest of Sabra and $3 million […]

Story of the Week Blackstone acquires majority stake in Jersey Mike’s Private equity giant Blackstone will acquire a majority ownership position in Jersey Mike’s, the fast-growing sub shop purchased by Peter Cancro in 1975. Terms of the deal were not disclosed. Cancro will maintain a significant equity stake and continue to lead the business. The […]