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.
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.
Mettler Toledo posted buoyant full year and fourth quarter results as demand held up throughout the 12 months but forecast that growth would slow in 2012 as the worldwide recession bit deeper.
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.
Bakery ingredients firm Puratos has announced plans to build a €22m site in China and production facilities in Spain and Mexico as it looks to seize upon strong growth in emerging markets.
Scottish food group Baxters has moved to secure a “strong foothold” in the canned meat market after completing a deal with Princes for the acquisition of the Fray Bentos brand.
Unilever is likely to sell its low-margin food business to fund further acquisitions on the personal care side, particularly in the emerging markets, claims Fitch Ratings in a recent commentary note.
Spanish chocolate confectionery market leader Nestle has invested €10m on a new production line its factory in La Penilla de Cayon to drive growth in the Mediterranean.
Ferrero has announced plans to build a new factory in Turkey in the province of Manisa to leverage its position in a confectionery market that has grown 120% since 2004, according to figures from Mintel.
Kraft has confirmed that it has chosen Cadbury’s site in Bournville as the site of a new chocolate centre to “drive new product development and new technologies” for chocolate brands.
R&R Ice Cream has acquired Europe’s largest private-label ice cream manufacturer Pilpa in a deal worth around €17.65m, plus stock on completion estimated at €9m.
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.
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.
Unilever says it is spending around £2.6m to upgrade production and expand production at its historic Colman’s mustard factory in Norwich, but admits that it could shed up to 20 jobs as a result.
Organic Monitor predicts an eight per cent rise of European organic food and drink sales in 2011, as the global economy is coming out of recession more capital is now available for companies to invest.
Private label foods and beverages are on the up in Croatia, as the economy remains weak and the mass retail market holds scant interest for foreign direct investment programmes, says a new report.
The cost of producing a renewable nano-based “super material” for the food packaging and processing sectors has been slashed thanks to the development of breakthrough technology, said research company Innventia.
Symrise is extending its reach in two high potential developing markets, with the acquisition of a new facility in Russia and the opening of a new plant in Singapore.
Cost savings initiatives have helped offset steeply declining sales for nutritional and personal care ingredients company Cognis during the first three quarters of 2009, the company said on Wednesday.
Consolidation in the food sector during the recession is throwing up opportunities for private equity to invest in smaller companies – if they have a unique product and a diverse customer base.
Pecan Deluxe Candy has invested in new equipment for its plant in the UK that will enable it to make chocolate shapes like pigs and monkeys, and expand its fair-trade chocolate range.
Swiss firm Nestle ranks second in terms of innovation targeted at Asia's emerging markets, claims a fresh 'business vitality' index from the Global Intelligence Alliance Group (GIA).
The high cost of inputs that has dogged the food industry in recent times looks to have helped raise the profile of enzymes as cheaper alternatives to other ingredients, according to Novozymes’ annual report.
The functional foods industry in France is booming, according to a
report from Invest In France that claims the sector attracted 7 per
cent of all new foreign investment projects in the country between
2002 and 2007.
Rising food prices are not a short-term problem so food
manufacturers must adapt accordingly, making wise strategic
choices, strengthening innovation and streamlining operations, says
a new report.
Dutch DSM will sell its Special Products unit as it shifts its
focus to fast growth and high margins by concentrating on
nutritional ingredients and high performance materials.
Fragrance and flavors player Givaudan has announced the sale of its
St Louis based food ingredient business and manufacturing facility,
as the company continues product streamlining.
Tate & Lyle Ventures and Scottish Enterprise hope to prosper
from the emerging market for dissolvable and edible films as a
delivery mechanism for active ingredients, with the acquisition of
BioFilm Limited.
Agribusiness Monsanto has completed the divestiture of its US
branded cottonseed business, in a move required as part of its
takeover of the Delta and Pine Land Company (DPL).
Finnish food group Raisio has downgrades its expectations for
full-year 2006 as it grapples with the weak performance by its
Finnish, Swedish and Russian food business and diagnostics, and
carries the costs of restructuring.
The Indian government looks likely to obstruct proposed foreign
direct investment (FDI) concessions, choosing to support its
fledgling domestic supermarket sector instead, according to local
press reports.
CSM is to invest almost €20m to expand production capacity for its
American style bakery products, as the company continues its
restructuring process after a disappointing 2005.
PAI's acquisition of Chr Hansen's ingredients business was finally
closed last week, establishing Chr Hansen Holding - and thus the
Chr. Hansen Group - as a purely pharmaceutical company.
The European Commission gives the all clear for private equity firm
PAI to buy the food ingredients arm of Danish firm Chr Hansen,
writes Lindsey Partos.
Danish ingredients group Chr Hansen, shortly to be sold to private
equity firm PAI, posts a small rise in revenue and a decent boost
in pre-tax profit for the nine months to May, reports Lindsey
Partos.
Dutch bakery ingredients firm CSM continues to focus on core
business, clearing the sale of its sugar confectionery unit Malaco
Leaf to investment companies Nordic Capital and CVC Capital
Partners.
The Czech Republic, the first CEE country to be admitted into the
OECD, has attracted a large amount of foreign direct investment
(FDI) since 1990, making it the most successful new member state in
terms of FDI per capita, writes...
The European Bank for Reconstruction and Development will encourage
Uzbekistan to implement economic reforms by pledging nearly €3
million to improve quality and double capacity at a private
domestic brewer, reports Chris Mercer.
As food ingredients suppliers take a stake in the burgeoning
Chinese market new figures released by the United Nations confirm
foreign direct investment (FDI) inflows to Asia and the Pacific
rose by a massive 55 per cent in 2004 on...
