Del Monte Foods
Del Monte Foods is said to be looking to offload its canned food business. Such a deal may not come as a surprise to industry observers give...
Kraft Foods' move to buy Cadbury in January failed to spark a burst of M&A activity in the food industry, as economic conditions continued t...
Dave West, raised eyebrows last week with his decision to, well, head west and leave his post as Hershey chief executive for the top job at Del Monte Foods. But will Hershey's fortunes head south in the wake of West's departure?
The surprise announcement that Dave West would be quitting as Hershey chief executive hit the US chocolate giant's shares and brought uncertainty to a company that has enjoyed something of a revival in recent years. Dean Best discusses the reaction to the news and the outlook for the confectioner.
Kraft Foods' move to buy Cadbury in January failed to spark a burst of M&A activity in the food industry, as economic conditions continued to dampen attitude to risk. As the year progressed, however, and confidence returned, the pace of acquisitions picked up. But as Dean Best reports, the nature and rationale behind the deals has altered significantly.
As we headed into September, there was uncertainty about the prospects for M&A activity, with analysts at KPMG suggesting the value of deals in the food, drink and consumer goods space in the second quarter stood at just under US$19bn - down from the $49bn of deals recorded in the first three months of the year. However, the last months of 2010 saw a number of key pieces of M&A - notably the merger of Greencore and Northern Foods - and deals signed to see PepsiCo buy Wimm-Bill-Dann and a private-equity consortium by Del Monte Foods.
Del Monte Foods is to close a vegetable processing site in North Carolina, a move affecting 230 full-time staff and 92 seasonal employees.
Del Monte Foods has announced plans to switch to non-genetically modified ingredients in parts of its range on sale in the US this year.
Del Monte Foods is to reduce the amount of bisphenol A it uses in the packaging of its products in the US.
Del Monte Pacific has reported improving profitability and higher sales for the first half of its 2015/2016 fiscal year.
Del Monte Pacific has acquired US produce group Sager Creek Vegetable Company through its US subsidiary Del Monte Foods for US$75m.
Del Monte Pacific Ltd said today (11 March) that it has "stabilised" its business – despite racking up a net loss in the first nine months of the year – thanks to the completion of a rights issue, the proceeds from which will be used to pay down short term debt.
US canned tuna group Starkist and its parent, South Korean conglomerate Dongwon Group, have jointly invested in Sliver Bay Seafoods, an Alaska-based salmon processor.
Del Monte Pacific, the Asia-based group that recently acquired Del Monte Foods' canned foods arm, has reported higher underlying annual profits.
Singapore-based food and drink group Del Monte Pacific has booked an increase in underlying third-quarter profits on the back of higher branded and own-label sales.
Last week's coverage has been dominated by two highlights of the food industry calendar. The first, industry trade show Anuga, saw just-food speaking to a number of up-and-coming companies, such as US kefir maker Lifeway Foods, about their export plans. The second, The World Retail Congress in Paris, provided us with an opportunity to delve into the emerging trends and hear from the great and the good of the food retail sector.
Singapore- and Manila-listed Del Monte Pacific Ltd has entered into an agreement to acquire the consumer foods unit of Del Monte Foods for US$1.68bn.
Nestle has said there will be some disposals from its portfolio in order to create what the world's largest food manufacturer called a "more flexible, more agile, crisp" organisation.
Lower costs helped boost Del Monte Foods' first-quarter profits but the US group's consumer food sales tumbled.
Sinagpore-based Del Monte Pacific has booked an increase in first-half profits, helped by revenues in the Philippines, its largest market for branded sales.
US food groups Fresh Del Monte Produce and Pinnacle Foods are understood to be considering offers for the canned food business of Del Monte Foods.
Del Monte Foods saw earnings and sales climb in fiscal 2012/13, as sales and operating income from pet and consumer foods increased.
Del Monte Foods is understood to be exploring the possible sale of its canned food business.
Shares in Singapore-based Del Monte Pacific have started trading in the Philippines, the second listing for the food and drinks group.
Fresh Del Monte Produce said it is "pleased" with a US court ruling that has served an injunction against Del Monte Foods in the two companies' dispute over the Del Monte trademark.
A drop in sales and higher marketing spend hit third-quarter profits from Del Monte Foods' consumer food business.
Lower second-quarter sales and investment in marketing has hit half-year profits from Del Monte Foods' consumer food business.
The latest batch of reports from the just-food research store includes a look at bakery trends, a European dairy industry outlook to 2020, and how stevia will change the sweeteners market.
Del Monte Foods has moved to a net profit in the first quarter of its financial year on the back of an increase in sales.
Another quarter of lower sales of consumer products has hit overall revenue at Del Monte Foods.
US jam, peanut butter and coffee maker JM Smucker has continued its diversification drive with a deal to acquire Big Heart Pet Brands, formerly part of Del Monte Foods, in a deal worth more than US$5.8bn.
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