UK health secretary Andrew Lansley anounced that the FSA has lost its nutrition labelling roles

UK health secretary Andrew Lansley anounced that the FSA has lost its nutrition labelling roles

Tengelmann's appointment of the second CEO of its US-based A&P chain in the US, its second in six months, piqued our interest, while the potential sale of UK biscuit and snack maker United Biscuits has captured the industry's imagination. Ocado's IPO finally got away, but not without parts of the investment community sounding off about its bleak prospects. The future of the Foods Standards Agency was sealed, and as expected, it lost its remit over nutrition and labelling. Here's the pick of what was said this week.

"The board and the company’s major shareholders, Tengelmann and Yucaipa, have been instrumental in developing what I believe is the right turnaround strategy for A&P. As we moved to the implementation and execution stage of this comprehensive operational and revenue-driven turnaround, the Board determined that the company needed a leader at the helm with the skill set Sam Martin possesses" - said A&P executive chairman Christian Haub on the second CEO he's appointed to lead the company in six months

 

"This sort of multiple implies heroic growth at all levels and a lengthy period of upgrade momentum. We find it hard to get comfortable with this, given the many potential banana skins surrounding the story" - Jonathan Pritchard regarding Ocado's IPO launch.

"That business has still got a lot of legs... There is still fat that can be stripped and management operational efficiencies that can still be delivered" - An unnamed source said of United Biscuits' potential sale

"It's absolutely crucial for the Food Standards Agency to continue providing independent expert advice to people about food safety. But bringing nutrition policy into the Department makes sense. It will enable a clear, consistent public health service to be created" - UK Health Secretary Andrew Lansley announces the news that the FSA has lost its nutrition labelling roles.

"Overall, we believe that the segment has been an Achilles' heel for Sara Lee. The company's strategic motivation for the sale of the higher margin international household and body care segment was to be a focused global food and beverage business, which it would be with or without the bread offerings" - Erin Swanson, an analyst at Morningstar, commenting on speculation that Sara Lee is mulling selling its US bread business.

"The organic market is still in decline but improving. It has been on a really, really steep decline but suddenly the change I have seen in businesses is that everyone has had to dig deeper and think differently about organic" - Finn Cottle, acting trade director for The Soil Association, predicting growth for the organic sector

"We absolutely think it's a fantastic merger, it's the proverbial ‘one plus one equals three'. The hardest thing for these companies to do is to grow and create new distribution routes. It's extensive, it's slow and this is instant national distribution, so it's a win win for both companies" - Janney Montgomery Scott analyst Mitch Pinheiro of Lance and Snyder's of Hanover merger.

"[We were] over-optimistic about inflation" - Safeway CEO Steve Burd as the company revealed a 40% profit drop in its second quarter.

"The transaction creates a clear European leader in the frozen food industry with an unrivalled product range and solid growth opportunities" - Birds Eye Iglo CEO Martin Glenn of its acquisition of Italian frozen food business Findus.

"Today there is a huge opportunity to do more with contactless payments, for example the chips used for contactless payments will to be deployed in mobile phones and other devices" - Wincor Nixdorf banking director John Ennis regarding the future of contactless payment technology.