Irish dairy and ingredients group Kerry has turned in a”solid” first half of 2011 that saw it increase volumes, weather raw material price hikes, and see success in a “go-to-market” functional ingredient strategy as profits jumped 6.1% on 2010 figures.
Finnish supplier Raisio has turned in a bumper half-year with earnings before interest, tax and depreciation (EBIT) surging from €10.3m to €16.2m – a 73% rise.
Archer Daniels Midland Company (ADM) has announced that it will expand its cocoa processing capabilities at its facility in Singapore to enable it to keep pace with growing demand for cocoa and chocolate products from Asian markets.
Kerry Ingredients & Flavours is taking the lid off its R&D work to reveal some of the meat solutions it has in the pipeline for clean label, salt and fat reduction, coatings developments and taste enhancement.
The Ukraine has followed US, UK and German authorities by OKing Diamond Foods €1.6bn takeover of the Pringles business from Procter & Gamble that will make it the second biggest snack maker globally after PepsiCo.
Kraft, in its second quarter results, reports continuing challenges ahead for its gum and candy division in developed markets, and claims the Cadbury takeover is a fundamental earnings driver, with its global chocolate earnings up 9 per cent.
Unilever refused to comment on City speculation that its food businesses may be up for sale as it announced better-than-expected half-year results yesterday.
Kraft Foods has said it intends to split into two companies, in a move that would create a global snacks powerhouse separate from its North American grocery business.
Flavour and fragrance firm Givaudan’s first half net profits crashed by 40 per cent as raw material costs and record currency rates take their toll on the Swiss company, despite good local growth in its flavours businesses.
Food giant Unilever saw net profits grow 10% to €2.235bn in the first half of 2011, with its brand equity allowing it to weather severe raw materials price hikes in some cases.
Analysts at investment bank Liberum Capital said they expect Unilever to sell its food arm, excluding the ice cream and beverage category, for an estimated figure of €14bn.
Food quality and safety testing group, Intertek, has gained a food testing presence in the UK for the first time through the acquisition of Food Analytical Laboratories (FAL) for £6m.
Japanese ingredients supplier Ajinomoto has seen Q1 sales drop 2.6% to ¥296.3bn, with slow global economies and the aftermath of the March natural disasters in Japan affecting the results.
Dupont, which earlier in the year warned that its May $6.49bn acquisition of Danisco would dent its yearly profits, has defied expectations in second quarter results published today.
Kerry Group has confirmed it is in exclusive talks to buy the flavours arm of US food giant Cargill, which “may, or may not result in the sale of the business.”
Greencore ceo Patrick Coveney has told FoodManufacture.co.uk that he is “highly confident” that his company’s £113M cash offer for Uniq will be successful.
Nestlé has paid out bought €1.2bn for a majority stake in leading Chinese confectionery maker Hsu Fu Chi, with the Swiss group flagging up access to extensive production capabilities and a major distribution network as its wins.
The newly renamed Natural Colors Division was the star performer in Danish ingredients supplier Chr Hansen’s Q3 results, showing 34% organic sales growth for the quarter, compared to 5% for Cultures and Enzymes, and 9% for Health and Nutrition.
The French food ingredient manufacturer Savena has been snapped up by European private equity company, IK Investment Partners (IK), with plans to double its size within five years.
A continued rise in raw material costs will hit lower first half earnings, says bakery ingredients giant CSM in a trading update, with price hikes not enough to offset the surge.
German flavours giant Symrise said its longterm experience with exhaustive Russian paperwork via its Moscow sales and marketing office, allowed it to have its new Russian production facility open in “record time”.
McCormick has announced a deal to acquire Polish flavour company Kamis for 830 million Polish zloty (approximately 208 million euros), as the company looks to push in the Eastern European market.
Dutch fats and oils specialist IOI-Loders Croklaan will integrate breast milk alternative Betapol into its product range to complete the break-up of its subsidiary Lipid Nutrition announced yesterday.
A year after natural ingredients supplier Wild announced plans to go public, CEO Michael Ponder explained what an IPO can do for the company and what will determine its timing.
After a two month delay, sugar giant Agrana has started production at its new Egypt plant that will supply prepared fruit to dairy companies in the Middle East and North Africa.
Botanical extract manufacturer Chengdu Wagott is to open its second stevia facility in China, which it says will boost its Reb A capacity from 200 tons per year to 500 tons.
Pod-to-pallet industrial chocolate supplier Barry Callebaut has flagged up the potential for growth arising from the fact that independent analysts, Moody’s, has given the company an ‘investment grade’ status.
Frutarom is to acquire the majority of Chr Hansen’s ingredients blends business for meats and sausages for €25m, boosting its activities in the Italian market where it has hitherto had ‘slight’ presence.
The plant (ALA) and marine (DHA and EPA) sectors have not always agreed about omega-3 bioavailability and sustainability, but they recently came together against the negative health effects of omega-6 over-consumption.
Frutarom has reported a strong start to the year as the recovering economy and restocking trend brought organic sales growth, but has warned that it will continue to “act determinedly” over its selling prices when raw material costs require.
At Vitafoods Europe 2011, Jess Halliday caught up with event director Chris Lee to talk about the show’s ambitious expansion plans into Asia and South America.
DSM’s head of global marketing in human nutrition and health, Gareth Barker, explains why it has bought a carotenoid supplier (approval permitting), how the Martek acquisition is progressing, and why the company is not finished spending yet.
US chemical group DuPont has successfully completed its tender offer for Danisco, as 92.2 percent of outstanding shares in the Danish food ingredients firm were tendered by Friday’s deadline, DuPont said on Monday.
Co-founder of McCain Foods and chairman of Maple Leaf Foods Wallace McCain has passed away at the age of 81 following a 14-month struggle with pancreatic cancer.
Palsgaard has aquired the remaining 50 per cent share of Emulsion Holland and its South African subsidiary as it looks to leverage new technologies for chocolate emulsifiers in the future.
