Leading food manufacturer Kraft has paid £575m (€829.6m) for United
Biscuit's southern European snack business. The deal was signed off
over the weekend, said British daily The Financial Times.
In a move to safeguard their position in the Irish market, Largo
Foods, the country's largest snack food manufacturer has added the
iconic Tayto crisp brand to its portfolio for €62.3m.
UK food manufacturer RHM remains undeterred by last year's slump in
Mr Kipling cake sales - their financial second half results show
business is improving with the aid of healthy Hovis products.
American manufacturer Kraft will make a bid for United Biscuit's
southern European division, while Premier Foods and a Dutch equity
firm negotiate for stakes in UB's northern European operations.
US cereal giant General Mills has indicated year-end earnings will
be higher than previously expected, but admits next year's outlook
may be gloomy as rising commodity costs and interest repayments eat
profits.
Archer Daniels Midland and Matsutani Chemical have solidified a
joint venture to enhance worldwide sales and marketing of soluble
fiber Fibersol-2 as interest in this type of ingredient is
predicted to rise.
Nestle doesn't expect raw material prices to rise further this
year, despite a recent FAO report that forecasts an increase of
over 2 per cent in the world food import bill in 2006.
Royal Cosun subsidiary Unifine Food & Bake Ingredients has
consolidated its position in the Iberian bakery ingredients market
through the finalisation of an acquisition.
Finnish group Raisio is to build a new oatmeal plant in Russia, in
a move designed to strengthen its position in the nation's fast
expanding food production market.
Rhodia explains to FoodNavigator why the firm's vanillin price
increases, unveiled today, are absolutely necessary for the
business to progress - and why so much attention is being focused
on China.
Fat and oil manufacturer AarhusKarlshamn (AAK) yesterday announced
an increase in interim net sales, but the recently merged firm says
it is still working on streamlining its operations.
Yesterday American-owned Sara Lee reported a massive 77 per cent
drop in third quarter operating profit from $189m last year to $42m
in 2006, impacted by a vast portfolio cull.
US food and consumer goods producer Sara Lee announced Friday it
has entered discussions with Smithfield to sell its European meats
arm, following a drop in the division's anticipated selling price.
The opinion of an advocate-general of the European Court of Justice
on UK anti-tax avoidance rules could benefit multinationals such as
confectioner Cadbury Schweppes.
Operating profit was flat while sales rose only two per cent in
real terms for Unilever, which said yesterday its profit rose six
per cent in the first quarter of this year.
M&M's brand confectionery plans to unveil a white chocolate
variety in order to tie in with the upcoming US release of the
movie 'Pirates of the Caribbean: Dead Man's Chest'.
Icelandic manufacturer Bakkavor has purchased two British food
producers in as many days, securing its position as the UK's
largest chilled foods supplier.
Tingyi, manufacturer of China's leading instant noodle brand,
MasterKong, said sales of its ready to drink beverages surged in
2005, and additional capacity being added this year will continue
growth from this segment of its...
Swiss food giant Nestlé has announced a first-quarter sales rise of
14.1 per cent to CHF22.8bn (€14.5bn), beating analyst expectations
and reconfirming its full-year target of a five to six per cent
growth rate.
Sugar giant Sudzucker must work hard to guard against falling
revenue this year despite internal restructuring programmes and
expansion into other food sectors, warn analysts.
Kraft Foods has recorded stable first quarter results, masking
falling operating income with a favourable tax settlement and
raising prices to combat spiralling production costs.
Associated British Foods (ABF), owner of British Sugar, has
reported a first-half profit fall of 13 per cent and warned that
earnings would likely be affected by continued difficulties in the
sugar sector.
CSM's decision to close a production facility in the US is the
latest in a series of initiatives designed to consolidate the Dutch
group's market position.
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.
Despite a tough trading environment and serious fire damage to a
processing plant, British snack firm United Biscuits has delivered
a sizeable full-year profit rise of 25 per cent.
Real Good Food Company (RGFC) has turned around its margins from a
small loss to a modest five per cent, as a result of its
acquisition strategy in the food sector.
Like many other food producers General Mills is suffering from
rising costs, which are holding back profits, despite increasing
sales, according to the latest financial report.
Associated British Foods has become the latest manufacturer to show
concern over rising energy prices and the competitive retail
environment - but insists half-year profits will be in line with
expectations, boosted by its clothing...
Northern Irish snack manufacturer Tayto has offered administrators
an attractive bid for the remaining Golden Wonder plant, but will
absorb the business into its own operations rather than take the
old headquarters.
Sales at Archer Daniels Midland (ADM) increased during the
company's financial second quarter signaling a recovery from the
effects of the US hurricanes last year.
US manufacturer Kraft Foods has announced a massive extension to
its three-year restructuring plan that will see a further 8,000
jobs and 20 production plants go, as the company absorbs rising
energy and ingredient costs.
The world's leading cereal manufacturer Kellogg has announced a 3.2
per cent rise in quarterly net profit as cost-cutting techniques
continue to keep rising fuel and ingredients expenses at bay.
Prices for raw materials and energy are forecast to rise by around
five to 10 per cent this year, but Nestlé believes cost cuts will
balance the equation out, the company's chief executive said
yesterday.
Following last week's collapse of British snack maker Golden
Wonder, more than 60 prospective buyers have approached the
administrators hoping to acquire the rights to some of Britain's
most well known crisp brands.
CNS, the Breathe Right company, has announced its takeover of a
portfolio of domestic and international patents related to
FiberChoice as it begins to grow the successful brand.
UK-based confectionery group Glisten has acquired Lyme Regis Fine
Foods Limited and announced details of an office in Rotterdam with
the aim of increasing foreign sales.
PepsiCo's successful diversity and faster action on health has
taken it ahead of Coca-Cola in the market for the first time in 112
years, but don't be fooled into thinking Coca-Cola is dead wood.
