Wal-Mart will tap Judith McKenna to run its international unit, elevating one of its highest-ranking female executives to a critical role, according to people familiar with the matter. McKenna, currently chief operating officer of the retailer’s domestic operations, will succeed David Cheesewright on Feb. 1, who has held the job for the past four years. (Bloomberg)

Italy’s Ferrero has won the auction for Nestlé’s US confectionery business, paying $2.8bn cash for brands that include Butterfinger, Crunch, Nerds and LaffyTaffy (The Financial Times £). Analysts see the decision to get rid of the business, which also includes children’s favourites like Laffy Taffy, Chewy Gobstopper and BabyRuth, as another step by Nestle to focus on healthier products (BBC).

Ferrero’s deal for Nestlé’s US business marks its coming of age, writes The FT. “The slew of acquisitions, under its second-generation owner Giovanni Ferrero, is a clear break with the past… Now the company is bulking up and transforming into a consumer group more akin to Unilever or Nestlé.” (The Financial Times £)

Premier Foods has toasted a rise in festive sales, boosted by price inflation, record sales of mince pies and a revamped range of Batchelor Super Noodles, but said that talks about selling the division that produces them are “exploratory” (The Telegraph). Record sales of mince pies and overseas demand for Cadbury cakes boosted Christmas revenues at highly indebted Premier Foods (The Financial Times £).

However, Britain’s love affair with Mr Kipling cakes is waning as fewer shoppers picked up its French Fancies, mini Battenbergs and Bakewell tarts over the festive period. (The Daily Mail)

The chief executive of Greggs has vowed to add vegan options to the food-to-go chain’s menu, as it announced plans to ramp up its growth with up to 130 new stores this year (The Telegraph). Greggs is planning to open 130 new stores this year in a move it hopes will create around 1,500 jobs (Sky News)

Greggs is looking to take a bite out of McDonald’s and Burger King’s evening trade with a new fast-food menu that includes chicken goujons, potato wedges and pasta dishes (The Guardian). Greggs is turning its attention away from sausage rolls to focus on rolling out an evening food service (The Daily Mail). It may be best known for its sausage rolls and pasties, but increasingly Greggs is relying on items such as gluten-free soup, caramel lattes and focaccia-style pizza to keep the tills ringing (The Times £). It started with coffee and salads - now Greggs has moved on to “gluten-free ‘Balanced Choice’ soup”, caramel lattes and “focaccia-style pizza” (The Financial Times £).

The rate of inflation has eased for the first time since June last year, falling to 3% in December as growth in food costs slowed. (Sky News)

The pound has been enjoying a revival against the dollar, touching $1.38 this week, and mostly shrugging off the government’s difficulties over the collapse of Carillion. Its revival, currency analysts say, reflects growing optimism in the markets about a “soft” Brexit, but the rollercoaster has a long way to go. (The Times £)

Waitrose has apologised after customers were left unable to pay by card on Tuesday evening. The supermarket chain was one of several businesses hit by a failure at card machine network Verifone (BBC). Verifone is back online after an outage on card machines. Shops, football stadiums and taxis were unable to take payments from frustrated customers on Tuesday (The Guardian).

Fast food giant McDonald’s has said all its packaging worldwide will come from sustainable sources by 2025. (BBC)

Tate & Lyle chief executive Javed Ahmed is to step down after nine eventful years and will be succeeded by Nick Hampton, the finance director who joined the ingredients group in the middle of a crisis three years ago (The Financial Times £).

Australia has filed a trade complaint that accuses Canada of placing “discriminatory” rules on the sales of imported wine. (BBC)

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