Food giant Nestle has recorded modest growth in 2011 driven by strong performance in China and other emerging markets leading its CEO to say wealth potential is moving from West to East.
UK chocolatier Thorntons has suffered a 63% decline in profits in its half yearly report and intends to close almost half of its own stores and focus on commercial retail sales.
Procter & Gamble has struck a $2.7bn deal to sell Pringles to Kellogg after its $2.35bn deal with former suitor Diamond fell through following a probe into its payments to walnut growers.
Corn Products International has unveiled plans to change its name to Ingredion to better reflect its role as a supplier of a broad range of ingredients.
Kraft Foods is the likeliest candidate for Procter & Gamble’s Pringles brand after a deal with Diamond Foods looks lost, though other candidates may be lurking, according to analysts.
The European Commission has approved the bid by German company Saria Bio-Industries for joint control over Dutch group Teeuwissen Holding and Spanish company, Jagero II.
International Flavors and Fragrances (IFF) saw net profits slump 56% in the fourth quarter due to one-off costs and ongoing high raw material prices, but adjusted results were largely in line with analysts’ expectations.
In a competitive sucralose market, Tate & Lyle should price the sweetener keenly to ensure significant market share in the future, claims an analyst as the group releases ‘reassuringly dull’ Q3 results today.
AarhusKarlshamn (AAK) has posted modest growth in its fourth quarter (Q4) and final year results driven by raw material price increases and strong performance in its core food ingredients segment.
Cargill has announced plans to invest €20m in two cocoa and chocolate production facilities in Germany as it looks to boost its presence domestically and in Eastern Europe.
Kerry Group is set to continue to reap the benefits from health and wellness trends, and, in particular, can continue to leverage the industry’s ongoing salt, fat and sugar reformulation efforts, claims an analyst.
Israel-based supplier Frutarom has acquired Brazilian flavour house Mylner for $15.7m (€11.84m), underlining its strategy of plugging any gaps in its flavour portfolio or market base.
As Greencore reveals progress in its plans to switch from euro to sterling for its reporting currency, analysts remain upbeat about the potential of the group’s core business and synergies arising out of the Uniq takeover.
Dutch dairy cooperative FrieslandCampina has signed a memorandum of understanding with a UK-based venture capital firm to acquire Serbian dairy producers Imlek and Mlekara Subotica, and sees great potential to grow sales in the region.
Last year saw sales of food ingredients jump nearly 10% for supplier EFKO, a Russian manufacturer of industrial fats, including cocoa butter substitutes, used in confectionary, diary, bakery and other food industries.
Dairy Crest has issued a mixed trading update for the first nine months of its fiscal year, with persistent tight margins in its dairies business sector offset by strong performance across its branded portfolio.
European giant Intersnack is challenging PepsiCo and United Biscuits brands in the UK as it prepares to dramatically increase its profile, with a seven-figure investment in UK production.
The volumes decline in Unilever’s food business of nearly 4% is a concern, claims an analyst adding that the full year results are slightly below expectations.
After Premier Foods’ announced this week that it plans to up its spend on ‘power brands’ such as Hovis, Investec analyst Martin Deboo told BakeryAndSnacks.com that UK bread was a “terrible industry” to be in due to industry overcapacity.
Germany’s largest dairy processor Deutsche Milchkontor (DMK) has opened a new sales office in China to pursue regional growth, and has hinted at further investments in the country.
Rampant acquisitionist Naturex will make 3-4 European and North American acquisitions in 2012, once it completes a deal with an unnamed Asian supplier by the end of March, CEO, president and founder, Jacques Dikansky has told this publication.
With 2011 sales jumping 12.3%, the world’s biggest botanical extracts specialist says it will acquire 4-5 companies in 2012, with negotiations advancing with an Asian target.
Fragile fiscal confidence amongst consumers in Great Britain (GB) and Ireland means they are turning away from Britvic’s stills to its lower-priced carbonates, according to an analyst who follows the firm.
DSM BioSolutions has seen increased demand for its outsourcing services from the food industry, with a growing number of larger companies realising the benefits.
DuPont benefited from last year’s acquisition of Danish specialty food ingredient company Danisco in the fourth quarter of 2011, as revenue more than doubled in its nutrition and health business – although the chemical group’s overall profit fell slightly.
Premier Foods’ £30M Brookes Avana deal with food group 2 Sisters is unlikely to result in complications with the competition authorities, according to city analysts.
‘Convenience’ is the watchword within cheese ingredients for Dutch firm Vika Food Ingredients, with the company focusing its R&D efforts on products with this benefit, having just signed a new co-operative partnership with A-ware Food Group.
UK-based bakery firm Finsbury Foods has announced improved sales in a first quarter (Q1) trading driven by significant gains in its export business, but high commodity prices continue to squeeze profit margins.
Cocoa giant, Barry Callebaut will become a first choice source of cocoa and chocolate for ice cream manufacturer Unilever under a new long-term global partnership.
Dairy Crest could be the next UK processor to find itself the subject of a takeover approach, while Müller will have to leverage its stronger market position to secure stronger growth in the country, analysts have suggested.
Exceptional sales growth for sugar will fuel expansion at Associated British Foods (ABF), say food industry analysts, even if Q1 continued to highlight struggles for the food ingredients side of the business.
SABMiller said today that ‘intense competition’ within European lager led to a fall in beer volume sales during the last quarter, but the brewer told BeverageDaily.com that it didn’t think there was a fundamental problem with the category in this market...
A downturn in sales throughout Western Europe has seen Barry Callebaut fail to meet its projected growth for the first quarter. However the Swiss chocolate supplier said it is still outperforming the market.
Arla Foods has signed an agreement with Russia’s third-largest dairy concern, Molvest Group, to establish its first production site in the country, which will produce yellow cheese.
Israel-based flavours, botanicals and speciality ingredients player Frutarom has acquired 56% of Slovenian flavour company Etol for US$24.9m (€19.6m) and will bid for the full takeover in the coming weeks.
Swiss chocolatier Lindt has recorded sales below market expectations and could be subject to a takeover from Nestle, according to an analyst from Kepler Capital Markets.
Robert Wiseman Dairies says it has agreed the terms of a £279.5m takeover deal by Müller UK (a wholly owned subsidiary of the German dairy giant) and is recommending the offer unanimously to shareholders.
Carr’s Milling Industries has reported solid Q1 results in a trading update as improved flour sales driven by new customers led to results that have surprised market analysts.
Favourable market trends and successful business strategies have driven strong profits in Agrana’s sugar and starch segments, creating 20.2% growth for the first three quarters of 2011|12, the CEO said.
Groupe Lactalis’ bid to take over Sweden’s second largest dairy player fits with the French firm’s strategy of reducing its reliance on cheese, and would give it further brands with which to pursue milk product growth in emerging markets, according to...
