This week, Flower Foods bakery continues its geographical expansion
plans with its acquisition of ButterKrust bakery, and Kellogg
acquires a major Chinese cookie company.
Mergers and acquisitions in the UK food sector almost tripled in
value in the first half of 2007, says a report, but the credit
squeeze could put off private equity, meaning more opportunities
for trade buyers.
Ajinomoto plans to merge with Japanese compatriot Calpis, in a
bid to further its transformation into a health and nutrition
company and develop more value-added products to meet market
demands.
Mergers and acquisitions in the food industry in 2006 took a turn
up compared to the year before, with almost one third of all
activity occurring in the food processing sector, according to a
new guide by the The Food Institute.
The frozen desserts industry saw further European consolidation as
an equity firm swooped in to take Richmond Foods, Britain's largest
ice cream manufacturer.
Cargill has welcomed the EC's decision to approve its acquisition
of Degussa's food ingredients operations, claiming that the
decision will accelerate the company's focus on creating value and
growth for its customers.
Spanish biotech firm Natraceutical will seek approval from
shareholders for a capital extension of €40 million to help finance
the acquisition of UK food ingredients business Braes Group.
The Competition Commission (CC) today announced it has
provisionally cleared the completed acquisition by Napier Brown
Foods (NBF) of James Budgett Sugars (JBS), but voiced concerns
about the lack of competition in the UK sugar...
Big Food Group, the British company behind the Iceland retail and
Booker wholesale chains, has confirmed that it has accepted a
takeover from Baugur, the Icelandic investment group which already
owns a number of British retail groups....
Germany's third-largest chemicals company Degussa has taken a €500
million charge in its fine chemicals business unit as it continues
to feel the impact of adverse changes in market conditions.
US firm Technology Flavors & Fragrances continues to falter in
2003 with a 70 per cent decrease in net income for the second
quarter, a decrease in net sales of 5.7 per cent and rising
operating costs.
International food company Nutreco and Canada-based Genex Swine Group signed a Memorandum of Understanding today. This concludes the merger between Nutreco's swine genetics company, Hypor, and Genex.
Somerfield continues on the road to recovery with a slight rise in
like-for-like sales in the last year. The steady progress made by
the company over the last few months is only likely to increase
speculation about takeover bids.
The tussle for control of Safeway in the UK has certainly grabbed
the headlines in recent weeks, and it could prove to be the first
of many such takeover battles this year, predicts market research
group M+M Planet Retail, especially...
The Burns Philp hostile bid for Australia's biggest food company
appears to be far from over with the ingredients and yeast company
yesterday referring its bid to the Australian Takeovers Panel - the
principal forum for resolving...
Australian ingredients company Burns Philp has agreed to waive or
change some of the conditions of its A$2 billion (€1.1bn) takeover
bid of Goodman Fielder, Australia's largest food company, leading
the Australian Takeovers Panel...
Mergers and acquisitions in the food industry continue this week
with acquisitive Canadian company Stake technology taking over US
ingredients company Opta Food Ingredients at the price of €28m. The
move marks a bid by Stake to build...
Consumer concern in South Africa about the potential seeping of
harmful compounds from PVC plastic into the food which it is
wrapped around has prompted a shake-up in the country's leading
plastics packaging group, Astrapak,...
"As the economy took a dip in 2001, so did merger and
acquisition activity in the food industry,'' commented
Catherine Pfister, market analyst at the US Food Institute.
RFM Corp, the Philippines' second largest food firm, confirmed on
Monday it was in preliminary talks to sell its meat processing unit
Swift Foods to food and beer giant San Miguel.
