The Platinum Equity portfolio company has reached an agreement to acquire Netherlands-based Continental Bakeries from its majority shareholder, Goldman Sachs Asset Management, for an undisclosed amount.
The sale of Kuwaiti food giant Americana is finally going ahead, as GCC investors buy 69% of the firm for a rumoured US$2bn (€1.79bn) after nearly two-years of negotiations.
US firm Hearthside Food Solutions will buy Dutch healthy bar producer VSI for a reported €108.5m, along with a new US factory for production of VSI’s products.
The US sugar squeeze could see chocolate-maker Russell Stover’s production move from its home market after a takeover, says a Datamonitor Consumer analyst.
‘Billion dollar deal’ was not a phrase bandied about the food ingredients industry much last year. With BASF buying Cognis for €3.1bn and Corn Products International paying $1.3bn for National Starch, M&A looks to be thawing – but best not get over-excited...
Speculation about typical asset valuing ion the chemicals industry by Cognis’s chief financial officer, Marco Panichi, has led to a figure of €3.4bn being attached to the German ingredient company, as buy-out speculation mounts.
German chemicals and nutrients giant Cognis has turned in its best ever Q1 operating profit as sales across its three core divisions exceeded 2008 pre-financial crisis volumes in 2008 for the first time - fueling ongoing buy-out speculation.
BASF continues to be the subject of rumours that its supervisory board has approved a takeover bid for fellow German supplier, Cognis, which is owned by Permira PERM.UL and Goldman Sachs Capital Partners.
Cognis claims to have steered a steady course through last year’s economic upheaval. But despite a return to profitability, the downturn took its toll on nutrition and health and care ingredients sales.
Cognis has refused to confirm reports in the German press that it
is in advanced discussions with three potential purchasers, but the
outcome of a strategic review will be made public before the end of
the year.
Although it has not seen the fine detail, elements of Pharmed
Medicare (PM)'s new sucralose process are unlikely to infringe upon
Tate & Lyle's patent suite, according to Goldman Sachs.
Galaxy Nutritional Foods' board of directors has given the go-ahead
to Goldman Sachs to investigate the potential sale of the company
and to contact prospective buyers.
Danish sugar and ingredients group Danisco leaps into the number
two enzyme position as the firm announces control of 98.2 per cent
of the shares in US biotech firm Genencor.
Oil ingredient supplier Archer Daniels Midland said on Wednesday it
will close operations at a Brazilian soybean crushing, refining and
bottling plant.
Danisco's move into the number two global enzyme position is
delayed as the Danish ingredients firm extends its takeover offer
for remaining slice of Genencor International, reports Lindsey
Partos.
Cereal and snack producer Kellogg will have the edge over
arch-rival General Mills over the next few years as superior
innovations in the premium health sector and a more focused product
portfolio drive the firm forward, writes Chris...
Global stocks of soybeans continue to rise after last year's price
spiking draw-down, with oilseed production for 2004-05 projected to
reach 390.2 million tonnes, providing a 'comfort-zone' for
inventory levels.
Set to see sugar profits dip with incoming European sugar reform,
Danisco's announcement last week to acquire enzyme player Genencor
is the latest in a string of acquisitions that will go some way to
bridging the sales gap, writes...
Despite an upturn in global wheat, corn and soy production in 2004,
prices for food ingredients sourced from cereal raw materials are
likely to remain under pressure, writes Lindsey Partos.
Increasing investment in new product development is expected to
help British confectionery and soft drinks producer Cadbury
Schweppes to achieve its ambitious targets for long-term growth,
according to analysts Goldman Sachs. And...
Despite a fall in prices, the cost of wheat-based ingredients is
likely to remain under pressure on the back of ongoing low global
stocks, risks to Australian and Canadian production and a possible
restocking from China.
Sales for the ingredients arm of UK firm Associated British Foods
are expected to rise in the full year as the owner of British Sugar
sees strong growth, beating back raw material costs and adverse
currency movements.
As the food industry answers consumer health concerns expanding the
use of soybean-derived ingredients in food formulations, volatility
in price for the crop is set to continue with few signs that
supplies will improve this year.
Australian food ingredients firm Burns Philp could be close to
announcing the sale of its North American spice business, Tones
Brothers, for up to $500 million, say Australian media reports.
Danish sugar and ingredients firm Danisco closes on its xanthan gum
production deal in China, consolidating the firm's stabiliser
presence in this emerging market. Just days after the firm posted a
weaker third quarter as higher...
Set against the backdrop of difficult trading conditions for
branded food manufacturers, raw material prices and a negative
currency impact played down first half figures for ingredients
giant Danisco.
The impact of higher commodity prices on ingredients manufacturers
continues to impact margins. In October figures show that soybean
prices peaked at their highest levels in six years.
British Sugar's parent company, cash-rich Associated British Foods
(ABF), delivered a strong set of results for the year with the food
and agriculture division pulling in the highest operating profit
for the full year for the...
Price competition in texturants put pressure on Danisco ingredients
results for the first quarter of 2003/2004 but flavours and a long,
hot summer went some way to boosting the underlying performance.
Marlow Foods, the British company which makes the meat substitute
Quorn has been put up for sale by its parent company, the
AstraZeneca pharmaceuticals group.
Henkel KgaA has agreed to sell its chemical division Cognis to a
consortium of financial investors comprising of Schroder Ventures
and Goldman Sachs Capital Partners.
