Looking to 2016, it seems likely many of the trends that drove a bumper year of deal-making will persist over the next 12 months - consolida...
Since Nomad Holdings announced it had acquired European frozen food firm Iglo Group, the market has been waiting for the investment firm's n...
Looking to 2016, it seems likely many of the trends that drove a bumper year of deal-making will persist over the next 12 months - consolidation, health, simple foods and emerging markets.
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.
The debate over what form front-of-pack nutrition labels should take in the UK has taken a significant stride to being closed, with over 60% of the market agreeing to use a new label that does include traffic lights. Not every household name will use the label but Ben Cooper argues the refuseniks will now be firmly in the campaigners' firing line.
Nestle has dismissed suggestions its days of "easy gains" in emerging markets are over as the group recorded what one analyst described as "sustained weakness" in Asia, Oceania and Africa.
Quorn Foods, the UK-based meat-free group, is enjoying a period of robust sales growth in the UK - but the business, owned by Exponent Private Equity, has international ambitions. In part two of the latest just-food interview, CEO Kevin Brennan discusses the company's overseas performance and prospects.
Nomad Foods today (31 March) booked falls in sales and profits on a pro-forma basis for the fourth quarter of 2015.
The creation of Kraft Heinz was the stand-out M&A story of the year, although there were plenty of other significant deals, including JBS's move for European meat group Moy Park, the sale of Quorn Foods to Philippines-based Monde Nissin and Nomad Foods' two transactions in European frozen food. Elsewhere, Nestle was rocked by the Maggi recall in India, while it and a number of other companies - including Hershey - suffered amid China's economic slowdown.
Nomad Foods, the frozen food giant, said today (16 November) it expects to be able to generate more savings from its recent acquisition of much of Findus Group's operations in Europe than it had expected.
Findus Group is re-entering the pizza and shellfish categories in France, another move from the business to diversify its range in the country.
A deal for Green Giant could be nearing with claims US group B&G Foods is in advanced talks to buy the business from General Mills. Elsewhere, eight companies have expressed interest in Australia's Brownes Dairy, while one sale that was announced this week was the acquisition of European snack bar maker VSI by US co-packer Hearthside Food Solutions. And one story that caught your attention was upstart US egg-free mayo maker Just Mayo coming under fire from the country's food watchdog.
Russia this week said it would extend its restrictions on food imports to four more countries. In India, the ban on Nestle's Maggi noodles was overturned - although the products will have to be tested again. In the US, Kraft Heinz Co. announced plans to cut 2,500 jobs, while co-investor Warren Buffett cooled talk over a bid - in the short term at least - for Mondelez International. And in Europe, Nomad Foods struck a deal to buy Findus Group's operations in seven markets.
Nomad Foods, the new owner of frozen food business Iglo Group, is set to expand its business in the sector with a deal to acquire Findus Group assets in Europe.
Nomad Foods, the UK-listed holding company that recently acquired frozen food giant Iglo Group, plans to sell shares in the business to generate funds for more acquisitions.
This week, Nestle said it was withdrawing its Maggi noodle brand in India after a food safety scare that has seen local authorities insist the product has elevated levels of lead. Elsewhere, Abbott Laboratories was tied up in a class action lawsuit over its Similac product with allegations it is misleading consumers since the product contains non-organic ingredients. Elsewhere Nomad Holdings confirmed it is in acquisition talks with Findus Group. just-food visited the Free-From Expo in Barcelona this week and spoke to Warburtons among others. We also interviewed the CEO at Divine Chocolate. Here is the week in quotes
Nomad Holdings, the investment vehicle that recently snapped up Iglo Group, confirmed it is in “exclusive” negotiations over a purchase of Findus Group's continental European assets.
South Africa's Tiger Brands grabbed the headlines this week with news of the over-stating of sales at its Kenyan arm inflating local profits last year. Elsewhere, Ireland's Total Produce lifted its earnings forecast and said it was on the look-out for more M&A. UK meat group Cranswick reported mixed annual results.
Unilever was this week the first major food group to announce results for 2014 - a mixed year - and CEO Paul Polman admitted the company had slow in reacting to changes in consumer demands on spreads. The chief executive of Lifeway Foods told just-food the US culture dairy products group was - contrary to reports - not in talks to sell the business.
Findus Group today (20 January) insisted there is "no sale process underway" for its UK business after speculation its shareholders are preparing to sell its business in the country.
This week, Chobani refuted claims its CEO Hamdi Ulukaya is being pushed out of his position. Elsewhere, Tesco outlined a new strategy expected to have a profound impact on the companies that supply the retailer. Findus acquired Nestle's Spanish frozen food business La Cocinera and HKScan announced it was axing 95 jobs across two of its sites in Denmark. Here is the week in quotes
Findus Group has said its planned acquisition of Nestle's Spanish frozen ready meals unit, La Cocinera, will double the size of its business in the country.
Nestle has announced the sale of its Spanish frozen ready meals business, La Cocinera, to Findus.
2 Sisters Food Group has announced the appointment of former Findus Group CFO Stephen Leadbeater to the position of group CFO.
The Dutch trader suspected of being at the heart of last year's horsemeat scandal has been charged by authorities in France.
Tesco this week outlined plans for a fresh offensive to try to revitalise UK sales. Meanwhile, The Co-operative Group, which has faced its own issues in recent months, announced it was considering the sale of its farm business as CEO Euan Sutherland looks to reshape the mutual. In the US, PepsiCo once again reiterated it is not keen on splitting the company in two, while Hershey, Mars and Nestle breathed a sigh of relief after the price-fixing case it was tied up in was kicked out of court. Here is the week in quotes.
Frozen food giant Findus Group has snapped up the Belgian retail business of Lutosa as part of the EU's clearance of McCain Foods' acquisition of the potato products supplier.
Frozen food firm Findus Group has appointed William Showalter as its CFO.
Last week ended as it started: with a household brand caught up in the horsemeat contamination scandal. On Monday, Nestle said it had pulled Buitoni products in Spain and Italy after positive tests and, on Friday, Birds Eye said it had recalled ready meals across Europe after similar results. Over in the US, leading executives from some of the largest packaged food companies were at CAGNY to discuss their prospects for the year ahead.
Birds Eye has pulled three beef ready meals from supermarkets in the UK and Ireland as a precaution after a product it sells in Belgium tested positive for horse DNA.
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