Two years ago, large investors salivated over takeovers in Big Food - and Minnesota's giant, General Mills, appeared to be on the menu.
Today, the narrative of the food industry is being reset. Big food makers need to compete with small innovators who are racing to satisfy consumer tastes and habits that are expanding in new directions. Takeover artists who merged firms such as Kraft and Heinz and mined them for excess costs have fallen from Wall Street darlings to cautionary tales.
