What's going on?

PepsiCo is reportedly in the final stages of forming a joint venture with German dairy company Theo Mueller Group to launch a yogurt brand in the U.S., reports The Wall Street Journal. The move would allow PepsiCo, which has no dairy business, enter the U.S. yogurt market, which has about doubled in the past 10 years ... Free-trade deals with South Korea, Colombia and Panama were approved by Congress with bipartisan support, reports Associated Press. President Barack Obama said the agreements "will significantly boost exports that bear the proud label 'Made in America,' support tens of thousands of good-paying American jobs and protect labor rights, the environment and intellectual property."... Subject to regulatory approval, Sara Lee Corp. has agreed to sell its fresh bakery businesses in Spain and Portugal (and seven manufacturing facilities) to Mexico's Grupo Bimbo S.A.B. de C.V. for approximately $154 million in cash ... Subject to regulatory approval, Unilever has acquired Ingman Ice Cream, a Finnish company with units in Sweden, Lithuania and Belarus ... Dole Food Co. purchased the parent company of SunnyRidge Farm, which provides blueberries, blackberries, strawberries and raspberries, grown in Florida, Georgia, North Carolina and Mexico, reports Dow Jones ... Synergy Flavors has acquired Sethness Greenleaf. "This acquisition provides additional scale to Synergy in important Beverage, Dairy and Bakery markets," says Roderick W. Sowders, president and CEO of Synergy Flavors. "Sethness Greenleaf has an excellent reputation in the marketplace which has been built over 120 years and we are excited to have them as a part of Synergy ... The Chicago-based American Dietetics Association (ADA) will change its name to the Academy of Nutrition and Dietetics effective January 2012. "The name Academy of Nutrition and Dietetics promotes the strong science background and academic expertise of our members, primarily registered dietitians," said Sylvia Escott-Stump, president of the organization. "Nutrition science underpins wellness, prevention and treatment. An academy is 'a society of learned persons organized to advance science.' This term describes our organization and immediately emphasizes the educational strength of our advice and expertise." ... Unilever, Kraft Foods and ConAgra Foods are set to increase peanut butter prices as much as 40 percent after hot, dry weather damaged this year's peanut crop, reports The Wall Street Journal ... Anheuser-Busch will spend $1 billion through 2014 to modernize domestic breweries, upgrading systems to make products and emit fewer greenhouse gases, reports the Star Tribune. The company recently spent $60 million to revamp its St. Louis brewery and $34 million on improvements in Houston ... PepsiCo plans to pilot a 100% petroleum-free bottle next year, reports the Houston Chronicle. The polyethylene terephthalate container was developed using a combination of switch grass, pine bark and corn. "There's a lot of pressure," said Ed Glatzer of global consultancy IHS. "Everyone's always followes Pepsi and Coke. Sustainability is the catch word." ... More companies are adopting eco-friendly practices as a way to conserve resources and save money, reports CFO Magazine. Businesses that focus on sustainability enjoy benefits such as lower energy costs and fewer supply-chain risks. Some of the most popular strategies include encouraging telecommuting, using greener shipping methods and revamping operations to be more energy efficient ... The USDA aims to eliminate potatoes from school breakfasts and limit them at lunch, but Sen. Susan Collins (R-Maine), said properly prepared spuds have a place in the school cafeteria, reports the Huffington Post. She said she will try to strip funding from a bill to implement the guideline when it hits the Senate floor. Heidi Kessler, school-nutrition manager for obesity-prevention program Let's Go at The Barbara Bush Children's Hospital at Maine Medical Center, said she supports the guideline but agrees that it should focus on how potatoes are prepared, rather than eliminating them ... Doritos is holding its fifth-annual Super Bowl ad contest, and the grand prize is $1 million and the chance to create a Doritos ad with a Hollywood production company, reports USA Today. "At the end of the day, consumers aspire to be in the entertainment world," said a Doritos executive. "It felt like a natural transition for the program."