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Boparan Holdings, the parent company of 2 Sisters Food Group, has continued its drive to rapidly expand its footprint with the announcement that it has acquired the remaining Vion meat businesses in the UK. Katy Askew takes a look at how ambitious 2 Sisters hopes to succeed in a market where Vion struggled.
Nearly two months into the horsemeat scandal that has rocked the food industry, UK figures highlighting a sales slowdown in ready meals raise the question of whether this is a temporary blip or a long-term structural decline.
A year ago, there was consensus that M&A activity would pick up in 2011. As we look back on the last 12 months, there were some major deals but concern over the economy meant the numbers of deals fell short of expectations. Dean Best reports.
So, what now lies ahead for Greencore, the Ireland-based convenience food group?
Privately-owned Samworth Brothers is one of the UK's largest chilled food producers, owns the Ginsters brand and makes own-label convenience food for the likes of Tesco and Waitrose but it operates away from the public eye. Dean Best spoke to CEO Brian Stein about the company's development and its ambitions.
General Mills this week announced another acquisition, following up its move for Brazilian yoghurt maker before Christmas with a deal for US meat snacks firm Epic Provisions. Ahead of the holiday period, speculation emerged UK company 2 Sisters Food Group was seeing what interest there is in the market for its biscuits unit Fox's, although the talk was cooled this week. Elsewhere, Danone said it would end production at two plants in Russia, PepsiCo was upbeat about the prospects for Doritos in India and the US reacted to the release of the latest Dietary Guidelines for Americans.
The prospect of a sale of UK biscuit brand Fox's by owner Boparan Holdings has been played down by sources familiar with the matter.
Boparan Holdings, the owner of 2 Sisters Food Group, is reportedly considering selling off its Fox's biscuit unit.
Boparan Holdings said it has continued to make progress on its strategy of building a "better before bigger" business as it posted a further decline in sales and profit at 2 Sisters Food Group.
Boparan Holdings, the owner of UK-focused food company 2 Sisters Food Group, has unveiled a "substantial" and "targeted" investment drive that will see the company spend GBP205m (US$314.6m) in driving improvements at its poultry and meal solutions units.
Boparan Holdings, the owner of 2 Sisters Food Group, booked lower sales and earnings for the full year on the back of price deflation headwinds.
2 Sisters Food Group, the UK food arm of Boparan Holdings, has announced plans to remove antibiotics defined by the World Health Organization as the "highest priority" and "critically important" to human health from poultry production.
Boparan Holdings, the parent company of 2 Sisters Food Group, said it “stabilised” its business despite “another challenging quarter”.
2 Sisters Food Group started consultations with the union representing workers at its Llangefni poultry site this morning (23 February).
Boparan Holdings, the owner of 2 Sisters Food Group, revealed ongoing pressure on sales and margins during its first quarter.
Boparan Holdings, the owner of UK company 2 Sisters Food Group, has reported annual higher losses after its bottom line was hit with restructuring charges.
Boparan Holdings, the parent company of 2 Sisters Food Group, has reported mixed third-quarter results, with higher underlying operating profit but the cost of closing sites hitting its bottom line.
Boparan Holdings, the owner of 2 Sisters Food Group, has booked a decline in first-quarter operating profit due to one-off costs associated with factory closures and efforts to integrate Vion's UK operations.
UK food firm 2 Sisters Food Group is to cut around 200 jobs at its Coupar Angus poultry facility in Scotland.
An increased focus on proteins, the "transformational" acquisition of Vion's business in the UK and the fallout of the horsemeat scandal have dented full-year earnings at 2 Sisters parent Boparan Holdings.
The acquisition of Vion's business in the UK, which remains loss-making, as well as the fall-out of the horsemeat saga have hit third-quarter earnings at 2 Sisters Food Group parent Boparan Holdings.
Unite, the union representing workers at the now closed Vion UK site Welsh Country Foods, has said it is "disappointed" with the way the firm has let the business "slip away".
Vion-owned Welsh Country Foods is to close its lamb processing business in Anglesey, putting 310 jobs on the line.
Boparan Holdings, the parent company of UK firm 2 Sisters Food Group, has reported second-quarter losses of more than GBP7m (US$10.6m) and said it remains cautious about trading conditions.
Earnings results continued to pour in last week with retailers Carrefour, Delhaize and Waitrose amongst those issuing sales and profit figures. Delhaize told analysts there was work still to be done in the US, while Carrefour insisted it has to invest in order to build on signs of improvement. Elsewhere, Vion was bought by Boparan Holdings, and a BBC investigation uncovered evidence of horse smuggling from Ireland to the UK.
In a week of results from major retailers, Carrefour cheered the market with improvement in France, upmarket UK grocer Waitrose highlighted its strong year and Belgium's Delhaize insisted its business in the US would improve. Elsewhere across the Atlantic, meat processor Smithfield Foods faced calls from a major investor to consider dividing in three.
Boparan Holdings Limited, the holding company for 2 Sisters Food Group, has acquired Vion's poultry and red meat processing businesses in the UK.
Boparan Holdings, the parent company of UK firm 2 Sisters Food Group, made a net loss in its first quarter due to site closure costs but underlying profits were up.
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