Swedish ingredients firm AarhusKarlshamn (AAK) has announced improved sales and operating profit in its third quarter (Q3) results partly due to increased volumes from its acquisition of North American speciality fats business Golden Foods.
CSM may be able to move out of the danger zone if pressures alleviate on the costs input side towards mid-2012 and if its new rationalization plan generates some significant cost savings, notes an analyst.
Analyst RBS believes Brookes Avana is Premier Foods’ most likely candidate for disposal, following the UK food producer’s announcement at the end of last week that it is now actively looking to sell off parts of its business to allow it to deleverage.
PepsiCo has created a global snacks group to drive marketing and innovation for the entire group and has formed a council to draw on synergies between its beverage and snacks businesses in North, South and Central America.
A legal firm specializing in shareholder litigation has launched an investigation to determine whether Ralcorp has acted in its shareholders’ best interests by rejecting a recent $94 a share cash offer from ConAgra.
Punishing rises in input costs, cautious consumers and a predicted rise in capital gains tax will drive further consolidation in the US bakery sector this year and next, packaged bakery giant Flowers Foods has predicted.
Sara Lee has entered into an agreement to sell its North American branded refrigerated dough products business to Ralcorp Holdings and is also intending to divest its French refrigerated dough and Spanish bakery businesses.
The Ukraine has followed US, UK and German authorities by OKing Diamond Foods €1.6bn takeover of the Pringles business from Procter & Gamble that will make it the second biggest snack maker globally after PepsiCo.
The UK breakfast cereal category remains challenging reports Kellogg, as it announces net sales growth of 11 per cent to $3.4bm for its Q2, but the snack and cereal maker said it expects better growth prospects for the UK in the “back half of the year.”
Lantmännen reports a decline in its Unibake’s operating revenue for Q2 citing factors such as a drop in sales volumes for frozen bread operations in Germany, the UK and Denmark, coupled with negative currency effects.
Fats and oils supplier AAK has acquired a US manufacturer of flaked shortenings for the bakery and food service industries, surprising some market analysts who believed the company’s strategy was more focused on emerging markets.
Border Biscuits is investing a further £2.5 million to increase manufacturing capabilities and plant capacity over the next 18 months as the Scottish biscuit maker targets a 50% turnover increase over the next few years.
The Real Good Food Company (RGFC) reported at its AGM today that, having tackled the volatile sugar supply situation, new branded launches and a revamped bakery business mean it is on track to exceed market forecasts in 2011.
The European Bank (EBRD) has bought a €10m stake in Russian cake and biscuit producer Hlebprom, a partnership that will have financial as well as strategic benefits for the bakery manufacturer, said the bank.
Kellogg’s said it expects Europe, and the UK in particular, to be its most challenging operating environment this year, as it reports first-quarter net income drop of 12 per cent citing higher ingredient costs and increased marketing and new product spend.
United Biscuits’ (UB) is aiming to increase the number of its suppliers signed up to the Supplier Ethical Data Exchange (Sedex) system to 80 per cent by the end of 2011, the firm said in its recent sustainability report.
Belgian supplier Puratos says its undisclosed acquisition this week of 17-year-old Latvian fruit fillings firm, Pure Food, is about expansion into the central and eastern European and Nordic regions – and the supermarket channel - but its artisanal customer...