United Biscuits (UB) has for the first time hinted that the company will be sold as it separates its snacks business as KP Snacks and Kraft UK president Nick Bunker takes the helm.
Kraft Foods reported a 5.4% rise in second quarter net profit, more than offsetting higher raw material costs and adverse effects of currency exchange rates, the company said on Thursday.
Diversified private-brand specialist Ralcorp Holdings has announced it will consolidate its cereal, pasta, snacks and sauces businesses at a price of $17m-$22m in a bid to improve efficiency, slash costs and drive business forward.
Archer Daniells Midland (ADM) saw its net profit fall 25% in the fourth quarter, as corn costs, particularly for ethanol, weighed on the agribusiness giant’s margins.
As PepsiCo reported a 21% drop in overall profits for Q2 earnings today, snacks are holding steady thanks to global NPD investments and strong growth in Mexico and India, according to the CEO.
UK-based bakery firm Finsbury Foods has announced improved sales in a trading update for the full financial year today as exports in its cake division are helped by its European joint venture and gluten-free products excel.
Struggling Australian food firm Goodman Fielder has lowered its full-year 2012 (FY12) earnings forecast as costly restructuring of its baking units and rocky trading conditions slam revenues.
Gluten-free specialist Dr. Shar will bite into the sizeable gluten-free market in the US with its new manufacturing facility that will produce breads, bagels and frozen goods.
Surging demand for natural colours, ongoing emerging markets growth, coupled with steady performances in core cheese, meat and cultures and enzymes businesses has delivered healthy Q3 results for Chr Hansen.
Belgian bakery ingredients firm Puratos has a new manufacturing and innovation centre in China that will be dedicated to developing products for the local Asian taste requirements.
While US food heavyweight General Mills reported a 12% rise in sales for the 2012 fiscal year ending May 27, it said growth had been constrained by cost pressures in a difficult economic environment.
Investment in organic growth is more valuable than acquisitions that hold challenges of merging cultures and adjusting knowledge, according to the CEO of Puratos.
Australian food firm Goodman Fielder is fusing its bakery business with three site closures as part of a strategic reorganisation of its business to reduce costs and improve efficiency amid struggling sales.
Italian firm Barilla Holding has announced its intentions to sell German private label bakery business Lieken in order to focus on branded bakery and growth in its pasta, sauces and ready meals businesses.
General Mills has said it opposes a proposed Minnesota State ban on same-sex marriage, saying that the measure is not in the best interests of its employees or the state economy.
The UK bakery chain, Peters Bakery, has gone into administration, fuelled by a challenging retail environment and surging commodity and energy prices, according to an industry expert.
Diamond Foods expects to receive a delisting letter from Nasdaq for failing to meet today’s deadline for filing financial reports, the company has said.
The Starbucks Coffee Company has acquired US bakery firm Bay Bread and its La Boulange brand giving it scope to roll-out branded baked goods in selected US retail stores over time.
A new, larger integrated baking facility will enable food giant, Cargill, to cope with increased demands for speciality, complex bakery products, it said.
Cereal giant, Kellogg, has sealed its buy-out of Pringles for US$2.7bn, set to triple international business and stack it into second place on the global snacks market.
Flowers Foods’ $370m acquisition of Lepage Bakeries allows Flowers to expand its presence across the north east of the US and gives it high potential organic brands, the company claims.
UK food group Premier Foods will need to rid businesses in order to stabilise following its ‘truly awful’ full year results, analysts say, but predictions of sell-offs remain mixed.
General Mills has agreed to buy Brazilian food maker Yoki Alimentos for 1.95bn reais (about $853m) in a move it says could double its annual sales in Latin America.
Bernstein Research gives sales forecasts for the top 10 food and beverage companies worldwide up to 2014 with some predicted to gain shares and others to lose out.
Ralcorp has announced the acquisition of cookie maker Petri Baking Products shortly after It reported a sales boost in the second quarter (Q2) 2012 driven by frozen bakery products.
Job cuts at General Mills will be mostly in “administrative and support positions”, said the firm, which has just unveiled plans to slash more than 2% of its global workforce.
Leading US analysts believe that major shareholders are pushing for a PepsiCo split that could happen sooner rather than later, and said the firm could spin-out or sell its Americas Beverages or American snacks businesses.
North American snack firm Snyder’s-Lance plans to foster future growth through mergers and acquisitions to complement its core brands which helped it marginally improve sales in its Q1 results
Hostess Brands has sent letters to its 18,500 employees warning of possible liquidation and job losses, after a federal judge ruled on Friday that the company could cancel all union contracts.
Manufacturers of baked goods and other foods in Germany, Switzerland and Liechtenstein will benefit from extended services and capacity following the sales partnership between Kampffmeyer Food Innovation (KFI) and Meyerhans Mühlen.
Swedish-based firm AarhusKarlshamm AB (AAK) has recorded its highest ever first quarter (Q1) results driven by its food ingredients arm and its Golden Foods/Golden Brands acquisition.
Aryzta subsidiary Fresh Start Bakeries (FSB) has announce plans to build a €26.2m (PLN 110m) bakery in Poland to improve distribution in Central Europe.
Kraft Foods is off to a solid start to 2012 in its first quarter (Q1) results driven by sales growth in global biscuits and chocolate and strong performance in emerging markets.
Canada Bread and its parent company Maple Leaf Foods were both harmed by weak fresh bakery volumes in the first quarter (Q1), negatively impacting companies' profits.
China’s Bright Food has snapped up 60% of Weetabix for £1.2bn (US$1.95bn) but industry analysts say the breakfast cereal concept will flop in China and have coined the move as a mere knowledge buyout.
Rumours have been circulating in the media that China’s state-owned Bright Food will snap up British cereal maker Weetabix in an alleged 1bn deal; rumours the Chinese giant has denied.
