Stefan Kirk, of M&A advisors Glenboden, casts his eye over the food industry landscape and suggests the deal-making options that could - and should - be available to manufacturers.
After a series of disposals in central Europe over the last nine years, Orkla has recently snapped up a food maker in the Czech Republic. just-food M&A columnist Stefan Kirk looks at where in the region the Nordic food group could look next.
just-food M&A columnist Stefan Kirk looks at the possible M&A candidates in more niche dairy categories in the UK - and suggests three potential targets.
With continued speculation over the future of Mondelez International's European cheese and grocery business, just-food's M&A columnist Stefan Kirk weighs up what kind of interest there could be in the asset, which features the Philadelphia brand.
just-food M&A columnist Stefan Kirk runs the rule over the potential deals that could be struck in the food industry in 2016 - and puts forward three companies that could be targets.
Earlier this month, with the UK's Competition and Markets Authority's decision on the disposal of Dairy Crest's milk business on the horizon, M&A adviser Stefan Kirk looked at why the group could become a takeover target - and which companies could be interested.
Within a year of being established, Nomad Foods has made waves in Europe's frozen food sector, snapping up Iglo Group and agreeing a deal for much of Findus Group's assets. The UK-listed company is eyeing opportunities in the US. Stefan Kirk, just-food's M&A columnist and advisor at M&A consultants Glenboden, puts forward some possible targets for Nomad.
Campbell Soup Co. has looked to inject growth into its business through acquisitions in recent years and the indications are this is likely to continue. But where should the US giant look to do deals? Stefan Kirk, just-food M&A columnist and advisor at M&A consultants Glenboden, weighs up the group's options.
The investment in ConAgra's shares by hedge fund Jana Partners has prompted speculation that the group will sell one of its divisions, in order to better realise shareholder value. While the emphasis seems to be so far on ConAgra's troubled Private brands business, Stefan Kirk of M&A advisory Glenboden believes that the Commercial foods unit should be the divestment priority.
With a new CEO at Cloetta, the European confectioner has already faced questions about its possible acquisition targets. However, Stefan Kirk, just-food M&A columnist and advisor at Glenboden, believes the company could itself be on the radar.
Nomad Holdings, the recently-established, UK-listed company set up by FMCG veterans Martin Franklin and Noam Gottesman to buy consumer goods firms, made its first move this week with the acquisition of European frozen food supplier Iglo Group. Stefan Kirk, just-food M&A columnist and advisor at Glenboden, weighs up where Nomad could move next.
After selling US drinks business American Beverage Corporation earlier this month, Dutch food group Wessanen has completed its plans to be a pure-play healthy and sustainable foods group. Our M&A columnist Stefan Kirk says Wessanen has the balance sheet to make more acquisitions in food and surveys the market for targets.
Poland-based food and drink group Maspex has grown to become one of the sector's largest companies in central and eastern Europe. A move in December for parts of local peer Agros Nova's business pushed Maspex's turnover above EUR1bn. In his latest M&A Watch column, Stefan Kirk of advisory firm Glenboden, looks where Maspex could swoop next.
Given 3G Capital's industry focus, its background of partners and track-record, the next big takeover target for the co-owner of Heinz is almost certainly a legacy branded business in the FMCG world. But which companies other than PepsiCo and Campbell Soup Co. could or should be on that big-ticket target list? We tip Kellogg and, lower-hanging in terms of rationale, General Mills.
The recent sale of Italian unit Trentinalatte confirms growth through acquisition is not something Emmi is always successful at. Would, Stefan Kirk asks, the Swiss group's shareholders consider a liquidity event that would make them a participant in European dairy consolidation, plus earn them lots of money?
The over 25x EBITDA valuation in General Mills' recent acquisition of Annie's clears the path for Danone, a main rival in dairy, to pay top dollar for another innovative food business in the US, which it has targeted as a growth geography. A clear candidate is Lifeway Foods, in which Danone has had a stake for many years and which the French group could feasibly grow by three times within a few years.
- Why personalisation will take-off in US food
- US food next wave on display at Winter Fancy Food
- Comment: Meal kits in US - don't believe the hype
- Column: Kraft Heinz, Unilever and sustainability
- General Mills sales woes continue - analysis
- Unilever 'lining up spreads sale'
- UK own-label firm Park Cakes sold in MBO
- Immigration crackdown "risk" for US dairy industry
- BRF plant suspended amid bribery allegations
- Brazil giants JBS, BRF probed over alleged bribery