Market Trends

BRUSSELS - The European Commission today cleared Swiss Food group Nestle SA's joint venture with French cosmetics giant L'Oreal to develop a new range of healthy cosmetics, Dow Jones newswire reports.

NEW YORK - Two of the world's biggest food companies - Nestle and Kraft Foods - are expected to lead the pursuit of Hershey Foods, whose controlling shareholder announced it would be selling its stake in the renowned chocolate-maker.

ELIZABETH, N.J. - Wakefern Food Corp. announced that it closed on its purchase of Big V Supermarkets, Inc. on July 12, 2002 for approximately $185 million in cash and assumed liabilities.

CINCINNATI - The Kroger Co. announced today that it is continuing to accept ground beef products as part of a recall launched a week ago by the ConAgra Beef Co.

MINNEAPOLIS - Some 8 million boxes of General Mills's Big G cereals will carry free DVDs in a joint promotion with Columbia Tri-Star Home Entertainment beginning in October.

SCHAUMBURG, Ill. - ACNielsen announced that its Web-based category management intelligence system, Category Business Planner (CBP), will soon include information from Raley's, a leading West Coast retailer. Raley's owns and operates Raley's Superstores, Bel Air Markets, and Nob Hill Foods.

DALLAS - Dean Foods Company and Land O'Lakes, Inc., today announced an expanded strategic alliance and licensing arrangement that will allow Dean Foods to use the Land O' Lakes brand name nationally on a broad range of fluid milk and cultured dairy products.

LOS ANGELES - Citing the pressures of increased competition and added costs, Smart & Final Inc. reported a 40 percent fall in net income for the second quarter ended June 16. Income was $2.1 million versus $3.6 million in 2001's second quarter. Year-to-date, net income totaled $2.6 million, compared with $4.2 million during the same period last year.