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Albertson's Inc., one of the world's largest food and drug retailers, on Tuesday reported second-quarter earnings that exceeded both company guidance and First Call consensus estimates. Sales in the quarter totaled almost $9.6 billion.

Citrus industry leaders told U.S. Secretary of Agriculture Ann Veneman onWednesday they are worried U.S negotiators willtreat the industry like a sacrificial lamb in worldtrade negotiations.

Kraft Foods Inc. (NYSE: KFT - news), a global leader in branded foods and beverages, today announcedthat it has purchased the It's Pasta Anytime! convenient meal business and certain assets from Borden Foods Corporation. The brand was introduced in April 2000, andyear one retail revenues were about $36 million.

McCain Foods Limited will acquire the production facilities and food service business of Anchor Food Products Inc. in a three-party transaction. H.J. Heinz Company will purchase the company's branded products sold to retail outlets, including supermarkets and club stores.

Nestle, the world's biggest food company, said today that sales ofits packaged food increased in emerging markets, compensating for slower growth in the United Statesand in Western Europe and helping to lift first-half profit 13 percent.

Bread & Circus Whole Foods Market, the world's largest natural and organic foods supermarket, will open its third store in Cambridge on Aug. 22. Located at 340 River Street (just off Memorial Drive), the state-of-the-art natural foods supermarket is the company's largest in Massachusetts.

Longs Drug Stores Corporation (NYSE: LDG - news) today announced that it is exercising an option to purchase the interest of Albertson's Inc. (NYSE: ABS - news) in its joint venture, RxAmerica.

Sara Lee Corporation announced on Tuesday that it has completed its acquisition of The Earthgrains Company, the number-two player in the fresh bread category. The combined bakery operations of Sara Lee and Earthgrains, which will now be named the Sara Lee Bakery Group, together generate approximately $3.4 billion in annual sales.