Evolving food preferences and business cycles have had differential impacts on the expected performance, risk, and cost of capital among post farm gate food industries. Expected returns to invested capital in 10 food manufacturing and four distribution industries are evaluated with respect to...

The latter 1990s witnessed rapid growth among the largest retail food chain companies, much of it through acquisitions. An explanatory motive is that grocery chains could achieve greater scale economies and operating efficiencies, and increase their bargaining power with packaged food...