Business Bites: Soy milk recognized as healthier milk alternative

Despite added sugar and the “ultra-processed food” label, soy milk may be better for you than cow’s milk. Not terribly surprising, considering soy milk is made by humans for humans, while cow’s milk is made by cows for cows. Really makes you wonder what was going on inside the head of the first human who gazed at a swollen, dripping udder and shoved a baby bovine out of the way to get some.

In U.S. election news, democratic presidential candidate and sitting Vice President Kamala Harris hit the campaign trail and started making big promises, including one about a federal ban on price gouging in the food industry. Plus, Nestlé has ousted its CEO and selected a new one, and this time it’s an internal hire.

All that and more in this week’s Business Bites.

Soy milk outperforms cow’s milk in hearth health benefits, claims soy institute

A study by University of Toronto researchers, published in BMC Medicine and funded by Soy Nutrition Institute Global and the United Soybean Board, has shown that soy milk can improve cardiometabolic health by lowering blood pressure, blood lipid levels and some inflammation markers. The research involved a systematic review and meta-analysis of 17 randomized controlled trials, focusing on soy milk's impact on 19 different health outcomes.

Soy milk is the only nutritionally suitable milk alternative recognized by the U.S. Dietary Guidelines, providing comparable levels of protein, calcium and vitamin D with less saturated fat than cow’s milk. So, if anyone ever calls you a “soy boy,” stay calm, because you will probably outlive them.

VP Harris promises federal ban on food “price gouging”

The U.S. presidential race is heating up faster than a microwave oven in the pits of hell, but Vice President Kamala Harris appears to be trying to find common ground by proposing a federal ban on price gouging in the food industry. This move coincides with Mars' planned $36 billion acquisition of snack maker Kellanova, which may face stricter scrutiny under a Harris presidency.

In her first major policy speech, Harris outlined strategies to build an “opportunity economy” by imposing penalties on companies that continually raise prices. This strategy could support small businesses and lower consumer prices, but economists are reportedly mixed on whether it will work as intended. She also reminded us that costs went through the roof at the height of the COVID-19 pandemic due to supply chain disruptions but remain inexplicably high today.

“A loaf of bread costs 50% more today than it did before the pandemic,” Harris said. “Many of the big food companies are seeing their highest profits in two decades, and while many grocery chains pass along these savings, others still aren’t.”

Nestlé appoints leader from “Zone Latin America” as new CEO

The world’s biggest food maker is undergoing some big changes. First, CEO Mark Schneider has decided to step down, effective Sept. 1, after eight years of consistently shaking up the company’s offerings. Although profits grew under his leadership during the pandemic (possibly due to what we discussed in the previous Bite), Nestlé recently reduced its organic sales growth forecast for 2024 and decided it was time for someone new — albeit not new to the company, which Schneider was when he started.

Laurent Freixe, currently executive vice president and CEO of Zone Latin America, has been appointed as the new CEO. Freixe has been with Nestlé since 1986, rising through various roles and demonstrating leadership in challenging markets; for example, he navigated the 2008 financial crisis for Zone Europe. Only time will tell how he does as the person in charge of Zone Earth.

Louis Dreyfus keeps its finger on the pulse of plant-based proteins

No, not that Louis Dreyfus — you know, Elaine from Seinfeld. Although Julia Louis-Dreyfus is the daughter of French billionaire Gérard Louis-Dreyfus, who was the great grandson of Léopold Louis-Dreyfus, who started the Louis Dreyfus Group.

At any rate, Louis Dreyfus Co. just announced the formation of a new business unit focused on the commercialization of pulses, such as beans, lentils and chickpeas, to meet growing global demand for plant-based proteins. Also known for enhancing soil health and reducing agricultural greenhouse emissions, pulses align with the company’s sustainability and strategic growth objectives as well. The unit will target key markets in the Indian subcontinent, China and the Middle East, leveraging established trading networks in major pulse-producing regions such as Australia and Canada, and it will be led by Saurabh Bhartia, the new head of trading for pulses.

QualiTech acquires Ellison Bakery to expand sensory ingredient platform

Baked goods are the answer to most of life’s problems — at least according to QualiTech, a leader in specialized nutrition and food ingredient solutions, which has strategically bolstered its portfolio by acquiring Ellison Bakery. This move was facilitated by MidOcean Partners’ 2023 investment in QualiTech to expand the company’s market footprint and product offerings. Ellison Bakery specializes in everything from frozen novelties to snack inclusions, complementing QualiTech's sensory ingredient solutions. The acquisition promises to expand product lines and improve services by capitalizing on both companies’ robust R&D and customer-centric approaches.

 “We eat with our eyes and nose as much as through our taste buds — sensory ingredients help deliver the entire consumer experience,” Rick Pedersen, CEO of QualiTech, said. “Our inclusions help our customers bring the flavors and colors of a variety of sweet and savory ingredients to life ... Together, each company will now be able to offer a single set of solutions that solve a broader range of our customers’ needs.”