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Mars to purchase Cheez-It, Pop-Tarts maker in $35.9B deal
Updated Aug. 16 McLean-based snack and pet care giant Mars announced Wednesday it has entered into a $35.9 billion, all-cash deal to purchase Kellanova, the maker of Cheez-It, Pop-Tarts, Pringles, Eggo and other food brands. Kellanova, created in October 2023 when Kellogg split into two companies, had 2023 net sales of more than $13 billion, […]
Va. tourism generated $33.3B for 2023
Virginia’s tourism industry generated $33.3 billion in visitor spending in 2023, an increase of nearly 10% over 2022, Gov. Glenn Youngkin announced Monday. “The commonwealth’s record-breaking visitor spending numbers are a testament to our abundance of attractions and unique destinations,” Gov. Youngkin stated in a news release. Virginia’s tourism industry supported over 224,000 jobs[...]
Homestead Creamery to expand Franklin County facility
Dairy products maker Homestead Creamery will carry out a $2.5 million renovation and expansion of its Franklin County production facility, Gov. Glenn Youngkin announced Wednesday. The company will build a new ice cream production room and install additional production and refrigeration equipment and freezers. The expansion is in response to growing customer demand for the […]
HP Hood announces $83.5M expansion in Frederick County
HP Hood, a nationally branded dairy processor, will invest more than $83.5 million to expand dairy processing operations at its Winchester-area facility in Frederick County, Gov. Glenn Youngkin’s office announced Tuesday. The project includes upgrades to production and packaging equipment as well as construction of additional warehouse and cooler space. HP Hood’s expansion will provide [&helli[...]
Mars to acquire British chocolatier for $662M
A subsidiary of McLean-based international candy and pet food manufacturer Mars, the largest privately held company in Virginia, has agreed to acquire Britain’s Hotel Chocolat for $662 million, Mars announced Thursday. Bidco, a wholly-owned subsidiary of Mars, will acquire Britain’s largest chocolate maker in a cash offer at 375 pence per share, or about $662 […]
Food/bev distributor opens $275M Caroline County center
Food and beverage distributor World Class Distribution has opened its nearly finished $275 million, 1.2 million-square-foot distribution center in Caroline County with 400 employees, the county’s board of supervisors announced Tuesday. Gov. Glenn Youngkin initially announced the project in November 2022, at which time WCD expected to add 745 jobs. The company now plans to […]
Travis Hill to step down as Va. ABC’s CEO
Travis Hill, CEO of the Virginia Alcoholic Beverage Control Authority, announced Thursday he plans to step down from his post at the ABC, where he’s worked since 2014. Hired nine years ago as the Virginia ABC’s chief operating officer, Hill became CEO in 2018 after managing the former state department’s transition to a semi-independent authority […]
Virginia ABC: Vodka is Va.’s best-selling spirit
Tito’s Handmade Vodka notched its sixth year as the commonwealth’s most popular liquor at Virginia Alcoholic Beverage Control Authority stores in fiscal 2023. According to VABC, the Austin, Texas-based craft vodka accounted for $72 million in sales in fiscal 2023, up $5.1 million over the prior year. Tito’s out-guzzled other spirits by a long shot; […]
Growth industry
Prompted by shifts in consumer buying trends, Shenandoah Valley farmers are investing heavily in automated systems and cutting-edge growing processes to position themselves for the long haul in an industry that’s changing rapidly. Once dubbed the “breadbasket of the South” because of its bountiful wheat crops, Virginia’s northwestern region has remained an agricultural powerhouse. But [&he[...]
ABC reports almost $1.5B in FY23 revenue
The Virginia Alcoholic Beverage Control Authority reported $1.47 billion in gross revenues for fiscal year 2023, up $54.3 million over the prior fiscal year, on Wednesday. The reported revenue is a record for the authority. This is the fifth year that ABC has brought in revenues above $1 billion. As a division of the state […]
Maryland brewery plans expansion to Fauquier
Silver Spring, Maryland-based Silver Branch Brewing Co. will invest $3 million to open a location in Fauquier County, adding 38 jobs, Gov. Glenn Youngkin announced Monday. The expansion is the second location for the brewery, which is growing its production. Virginia competed with Maryland for the project. “Silver Branch Brewing Co.’s expansion into Virginia is […]
Farmer Focus to create 300 jobs with $17.8M expansion
Harrisonburg-based Farmer Focus is planning a $17.8 million expansion that will create 300 jobs and double its processing capacity, the organic poultry producer announced this week. Part of that expansion will be paid for with a $3.6 million grant from the United States Department of Agriculture’s Meat and Poultry Processing Expansion Program (MPPEP). U.S. Secretary […]
