AB InBev acquires Australian craft brewery 4 Pines The acquisition complements AB InBev's Carlton & United Breweries business in Australia, which includes brands such as Victoria Bitter and Carlton Draft. The management team at 4 Pines will remain unchanged. Read more.

United Biscuits grows exports by 4.9% The company behind brands such as McVitie's, Jacob's and Twiglets saw overall turnover dip by 3.9% to £868.2m, according to its latest full-year accounts. The fall was partly attributed to flooding in Cumbria which affected production. Read more.

Labatt Breweries plans $460m investment over the next three years The Canadian company, which brews beers such as Rolling Rock and Alexander Keith's, is planning the investment to meet the growing demand for craft beer and cider. Between 2011 and 2020 its total investments are expected to reach $1bn. Read more.

General Mills posts quarterly profits of $404.7m The US food group saw profits fall 1.1% in the first quarter, while revenue dropped 3.5% to $3.8bn. CEO Jeff Harmening said the business is building for long-term growth "through innovation, brand building, and increased organisational agility". Read more.

Mexico’s Femsa sells 5.24% stake in Heineken for €2.5bn The Mexican bottler and retailer, also known as Fomento Economico Mexicano, said it had offered the stake to institutional investors outside Mexico. Femsa sold its brewing business to Heineken in 2010 in exchange for shares. Read more.

Post Holdings acquires US food brand Bob Evans Post, which acquired Weetabix earlier this year, is to pay $77 a share for Bob Evans, resulting in an equity value for the deal of $1.5bn. Bob Evans has a portfolio of vegetable and meat-based products that include Country Creek and its namesake brand. Read more.