Warehousing: Page 314

US Foods Inc. Raises $1.02 Billion In Public Offering

US Foods Holding Corp., the parent company of US Foods, Inc., announced the pricing of its initial public offering of 44,444,444 shares of common stock at an initial public offering price of $23.00 per share for a total offering size of $1,022,222,212.

US Foods Holding Corp., the parent company of US Foods, Inc., the Rosemont, Ill.-based nationwide foodservice distributor, has filed a registration statement on Form S-1 with the Securities and Exchange Commission (SEC) relating to a proposed initial public offering of its common stock.

China Approves CMA CGM Acquisition Of Neptune Orient Lines

The takeover offer worth $2.4 billion marks CMA CGM's biggest acquisition and comes as container lines seek to cope with a severe market downturn through greater scale.

CMA CGM has made a preliminary offer for Neptune Orient and is conducting due diligence, though it hasn’t been granted exclusivity, while discussions with Maersk are less advanced, people with knowledge of the matter said before Neptune Orient’s announcement.

FDA Expands Sunflower Kernel Recall

Food & Drug Administration (FDA)

Production of the product has been suspended while FDA and the company continue their investigation into the source of the problem, according to the recall notice.

The U.S. Food and Drug Administration (FDA) has posted three more recalls of food items containing sunflower kernels.

Coca-Cola Enterprises Shareholders Approve Transaction Creating World’s Largest Independent Bottler

Coca-Cola Company

After the closing of the transaction, Coca-Cola European Partners will be the world’s largest independent Coca-Cola bottler based on net sales.

Muhtar Kent, Chairman and Chief Executive Officer, The Coca-Cola Company, Sol Daurella, Executive Chairwoman of Coca-Cola Iberian Partners and John Brock, Chairman and Chief Executive Officer of Coca-Cola Enterprises, Inc. toast the creation of Coca-Cola European Partners.

How Collaboration Expands Across The Food Supply Chain: Kroger, General Mills, Cargill

At the BMO Capital Markets Farm to Market Conference held May 19 in New York, representatives from Cargill, General Mills, Inc. and Kroger Co. were asked how their relationships with one another have changed over the last several years.

At the BMO Capital Markets Farm to Market Conference held May 19 in New York, representatives from Cargill, General Mills, Inc. and Kroger Co. were asked how their relationships with one another have changed over the last several years and what factors drove the change, according to Food Business News.

Chilled Cargo Facility Coming To Port Of Savannah

Georgia Ports Authority

PortFresh Logistics has announced plans to build a 100,000 square-foot cold treatment facility dedicated to perishable cargoes imported through the Port of Savannah.

PortFresh’s state-of-the-art cold storage facility, on 20 acres of a 182-acre site, is specifically designed to allow multiple climate zones. Engineered to maintain cold chain integrity, the facility will ensure delivery of the freshest and safest produce from the port to the customer.

Global Food And Beverage Companies Commit To Trans Fat Phase-Out Worldwide

World Health Organization (WHO)

IFBA is a group of 11 global food and non-alcoholic beverage companies: The Coca-Cola Co., Ferrero, General Mills Inc., Grupo Bimbo, Kellogg, Mars Inc., McDonald’s Corp., Mondelēz International, Nestlé Inc., PepsiCo Inc. and Unilever.

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US Foods To Acquire Produce Processor/Distributor Freshway Foods

The transaction is expected to close on June 10, 2016.

Freshway Foods provides value-added fresh-cut produce that includes the cutting, cleaning, chopping and packaging of raw produce resulting in a product that can be customized to meet any customer’s preferences and delivered ready for immediate use.

FDA Modernizes Nutrition Facts Label For Packaged Foods

Food & Drug Administration (FDA)

The FDA is also making minor changes to the Supplement Facts label found on dietary supplements to make it consistent with the Nutrition Facts label.

Most food manufacturers will be required to use the new label by July 26, 2018. Manufacturers with less than $10 million in annual food sales will have an additional year to comply with the new rules.

Risk/Compliance

U.S. Labor Department Mandates Higher Overtime Pay, Unsettling Employers

U.S. Department of Labor

Currently, salaried employees who earn more than $23,660 a year and meet other criteria are not entitled by law to overtime pay, which is 1.5 times an equivalent hourly wage after an employee works more than 40 hours a week.

The threshold is scheduled to roughly double, to $47,476, on Dec. 1. That means millions of workers who were salaried will have to have their hours tracked to see if they qualify for overtime pay.

Featured In Food Logistics: Pallet Solution Concerns Expand Beyond Sanitation And Sustainability

Food & Drug Administration (FDA)

The FSMA requires that transportation equipment is adequately cleanable for intended use to prevent food from becoming contaminated.

The SKU explosion is also having an impact on pallets since f&b manufacturers are introducing a larger variety of products that have different packaging and handling needs. Pallet suppliers say f&b products sometimes require customized pallets.

Amazon Brings 1-Hour Delivery To New York City And Dallas Restaurants

Now Manhattan and Dallas customers can view participating restaurants, browse menus, place orders, track the status of their delivery, and watch as their delivery driver travels from the restaurant to the delivery address in real time.

Amazon.com announced that Prime members in New York City and Dallas, Texas, can now enjoy free one-hour delivery from local restaurants.

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