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McDonald’s has announced it will eliminate foam packaging from its worldwide supply chain by the end of 2018 and continue its efforts to source its “fibre-based packaging” from recycled sources by 2020.

“While about two per cent of our packaging, by weight, is currently foam, we believe this small step is an important one on our journey,” the company wrote on its website.

The Chicago Tribune reported that this was the first time McDonald’s had committed to a specific deadline for removing polystyrene drink containers from its stores, after initially starting to phase out the material in 2013.

McDonald’s has agreed to end the use of polystyrene foam packaging globally by the end of this year, shareholder advocacy group As You Sow said.

Polystyrene has been widely used for single-use containers across the world for decades, but in recent years its negative environmental and health profile have led major companies to drop it.

Food & Drink Business

In a FY26 trading update, Bubs Australia forecasts revenue of $105–115 million but warns that reported EBITDA could land anywhere from –$2 million to +$2 million.

International Flavors & Fragrances Inc. (IFF) has entered into an agreement to sell its Food Ingredients business to funds advised by global private markets manager, CVC Capital Partners, in a transaction that values the business at approximately $6 billion (US$4.3 billion).

Australian Vintage has secured a $128 million debt refinancing through to March 2028, with an option to extend a further year to 2029, as the McGuigan wines owner reports a significant second-half cash turnaround and upgraded sales momentum heading into FY27.