Kellogg has secured a gateway to introduce its own brands in the promising MEA region by acquiring a controlling stake in Egyptian biscuit maker BiscoMisr, says an analyst.
Nordic pick & mix firm Candyking intends to trade 49% of the company’s shares on the Nordic stock exchange to raise brand awareness, pursue acquisitions and to reduce debts.
Ecolab said it has completed the US$8.3bn (€6.4bn) takeover of Nalco as part of a strategy to tap into global mega-trends such as food safety and the need for industry players to maximize operational efficiencies such as energy and water reductions.
Raisio is reaping the rewards of buying British snack brand Glisten with a 22 per cent increase in net sales in H1; with a new growth phase now underway, more acquisitions could be on the horizon.
Kraft has announced that it will begin to end pension increases for current and non-union hourly employees from year end 2019 but the US food group did not provide any clues in regulatory filings as to the future of the 100-year-old Cadbury pension fund.
Reports of my death have been greatly exaggerated, quipped Mark Twain. Predictions of the demise of Cadbury following the approval of Kraft’s offer are premature and are flawed by knee-jerk anti-Americanism.
Kraft is the overall winner in the battle for UK confectioner Cadbury, and it looks like the US food group has netted a bargain in the final price, claim US analysts Bernstein Research.
Cadbury shares rose today on the back of media report that indicated that US chocolate maker, Hershey’s could be set to make a counter-bid for the UK confectioner, already the focus of a hostile bid from Kraft Foods.
Kraft’s largest shareholder Berkshire Hathaway, run by billionaire investor Warren Buffett, has voted against the issuance of up to 370m shares to acquire Cadbury, it said on Tuesday.
Kraft has sold its frozen pizza business to Nestlé to help fund its offer for Cadbury after Nestlé pulled out of the bidding for the British confectioner.
Even if Kraft intends to increase its bid for Cadbury, its latest offer has probably managed to upset both the board and shareholders, says Andrew Wood, senior research analyst at Sanford C. Bernstein.
UK confectionery and snack food group Zetar has seen its share price dive following the revelation that Woolworths owed it nearly £1 million when it went into receivership last Wednesday.
Rumour, according to the Romans, is a feathered beast with a myriad eyes and tongues. Last week she went bristling through the Danish business pages, spreading the news that Danisco could be bought by a private equity firm.
In financial news this week, cocoa prices go up yet again, Cadbury
reveals more de-merger plans, and Sweet China is allowed to return
to the London stock market.
The Cadbury Schweppes drive to boost margins is full steam
ahead, boosted by the demerger of an underperforming drinks
arm, as the company today announced confectionery
revenues grew by ten per cent over the third quarter.
Norwegian fish oil producer EPAX is to be acquired by compatriot
Austevoll Seafood - a move that will give it a vertically
integrated supply from fishing to omega-3 oil supply and avoid
potential sourcing problems for the future.
In a bid to head off stakeholder dissent, the Nisa-Today board has
offered members of its buying group a controlling share in the
merger deal with convenience chain Costcutter.
Freshly created AarhusKarlshamn, a merger between former vegetable
fats competitors Aarhus and Karlshmans, completes the building
blocks of its new structure.
Consolidation in the European fats business likely as Aarhus United
shareholders yesterday clear the way for the merger with number one
Scandinavian fats and oils firms Karlshamns, reports Lindsey
Partos.
Consolidation in food ingredients continues with Nordic fats and
oil firms Aarhus United and Karlshamns set to merge, creating one
of the world's leading suppliers of cocoa butter alternatives,
reports Lindsey Partos.
Israeli flavour firm Frutarom, with clear ambitions to become one
of the top ten flavour players, is seeking a listing on the London
Stock Exchange to raise funds for imminent acquisitions.
Cargill is to increase its stake in the Romanian edible oils market
with the acquisition of the local company Olpo Podari. And with
another possible acquisition on the cards, the giant US
agribusiness group clearly sees significant...
Management at the Royal Schouten group, parent of soy ingredients
business Acatris, has increased its share in the company under a
new shareholder structure designed to allow it to move more easily
on strategic developments, such...
The Romanian chocolate sector looks set to become increasingly
competitive as the third largest player, Kandia, prepares to
finalise a merger with Excelent - a move that will create the
leading producer on the market.
Barry Callebaut announced today that it has suspended efforts to
take full control of Stollwerck after minority shareholders in the
German firm filed a lawsuit against a proposed squeeze-out.
Barry Callebaut completes its takeover of Stollwerck with an offer
of €295 per share for the remaining 3.9 per cent. The Swiss firm
said it would welcome investment from former Stollwerck
shareholders in its ongoing business.
