Member News & Headlines Blog

CohnReznick's Manufacturing & Distribution tax leadership team has recently published an article discussing the significant changes implemented in 2023 and the pending legislation outlined in the Tax Relief for American Families and Workers Act of 2024. These developments are anticipated to have a profound effect on the M&D sector.

Read more to learn about top tax topics like:

• IRS Interest Rates
• ERC
• Section 174

And More

Food Dive recently wrote a piece of exciting news for cheese enthusiasts. Kraft Singles is introducing three new flavors—Jalapeño, Garlic & Herb, and Caramelized Onion—marking the first expansion of its popular cheese lineup in almost a decade. Previously, the Kraft Heinz-owned brand offered only two flavored cheeses which launched in 2017.

Kraft Heinz observed that nearly 70% of U.S. cheese consumers express interest in exploring new varieties, with flavor emerging as a key influencer in guiding their purchasing choices. The company has identified innovations as the primary catalyst in achieving its goal of generating $2 billion in incremental net sales by 2027.

According to Marketing Brew's article, there's a notable resurgence of snacks in this year's game advertisements while auto brands seem to be scaling back. Michelle Deignan, VP of Oreo US, attributes this trend to the "lipstick effect," wherein consumers tend to prioritize spending on smaller indulgences during times of economic uncertainty. So, expect to crave a tasty treat during the Big Game this year.

According to ADM's latest Flavor and Color Trends Report, the upcoming year will be shaped by global influences in the food and beverage industry. ADM's color and flavor experts, supported by a team of TrendXplorers, have predicted 2024 to be characterized by a bold embrace of customized flavor and color experiences, drawing inspiration from both online and offline trends.

CHICAGO — Eli’s Cheesecake, a third-generation family-owned business that delivers Chicago-style cheesecake and other desserts nationwide, recently completed a $10 million, 42,000-square-foot expansion at its Chicago facility. A total of 50 new jobs have been added as part of the expansion

Venture capital investors focused on food tech are calling 2023 the year when alternative seafood startups will make notable strides. Meanwhile, investors expect 40 investments to be made in this sector this year, up from 36 in 2022, according to the Good Food Institute’s annual investor report.

The board of the CPG giant said chief operating officer Jeff Zadoks will temporarily take the helm.

Leftovers is Kraft Heinz's look at a few of the product ideas popping up everywhere. Some are intriguing, some sound amazing and some are the kinds of ideas we would never dream of. They can’t write about everything that they get pitched, so here are some leftovers pulled from their inboxes.

With 2024 fast approaching, I wanted to take a look at a few of the potential flavor trends we see on the horizon and how Edlong can help you get ahead of them for success next year and beyond.

Chicago Paid Leave and Paid Sick and Safe Leave Ordinance: 

While Chicago employers may already be familiar, and in compliance with, Chicago’s previous paid sick leave requirements, the city of Chicago recently passed the new Chicago Paid Leave and Paid Sick and Safe Leave Ordinance. The ordinance, which takes effect on December 31, 2023, significantly expands paid leave requirements for Chicago employers and includes some of the harshest penalties in the country for violations of paid leave provisions. Below, our guest contributors, Sara Davey and Randy Bridgeman from law firm Perkins Coie highlight the key considerations of the ordinance and next steps you should be considering in light of the upcoming changes in the law regarding paid leave.