fooddive

The agreement advances Magnum's out-of-home growth strategy by targeting consumers in high-traffic locations.

CEO Ethan Brown said it's been acting as a “beverage company in hiding,” with a board of executives from Coke, Boston Beer and more.

Kyle Diamantas previously the deputy commissioner for food, will lead the department in an acting capacity.

The CPG giant highlighted innovations like its new protein-packed Kraft Mac & Cheese and a five-year sponsorship deal with the NFL. 

Grupo Bimbo said the funding will support innovation and affordability efforts as the Mexico-based company expands its reach in one of its largest regions.