Lindt & Sprungli
Swiss chocolate group Lindt & Sprüngli has been on something of a roll in recent years. The company has consistently grown its sales ahead o...
Confectionery is a mature, slow-growth category in much of western Europe but manufacturers could eke out opportunities for expansion by har...
Europe's confectionery market is the world's largest but sales are stagnant. How can confectioners eke out growth? IRI business insight manager Cristina Lazzaroni, investigates.
Lindt & Sprungli, the upmarket Swiss chocolate group, today (19 August) underlined why it is a business seen as one of the better performers in the sector.
Lindt & Sprungli's acquisition of US confectioner Russell Stover Candies has come as a surprise to analysts. It is the Swiss group's first purchase for 16 years and one in a developed, rather than emerging, market. However, Lindt believes it would be have been foolish to pass on the opportunity and expansion in developing markets is still on the cards. Hannah Abdulla finds out what prompted Lindt to dust off its chequebook.
Lindt & Sprungli has often been touted as a potential takeover target for Nestle. However, Stefan Kirk of M&A advisors Glenboden argues the Swiss chocolate maker is an unlikely acquisition candidate for anyone - and suggests the company could dust off its chequebook to boost growth.
Lindt & Sprungli has just expanded its cocoa farmer programme in Ghana which will see the company give support to some 45,000 farmers between now and 2016. Sustainability manager Piera Waibel spoke with Ben Cooper about what the company is doing in Ghana and why it has decided not to have any of its brands certified under schemes such as Fairtrade.
Emerging markets have not passed Lindt & Sprüngli by but, given the company's sales growth in developed markets, the chocolate firm's drive to grow its business in new frontiers is not marked by the urgency evident in much of the food industry. Rather, CEO Ernst Tanner tells just-food, Lindt is playing a long game in countries like Russia and China, where the company must first develop the premium chocolate category before it moves to beef up its mass market presence.
Swiss chocolate group Lindt & Sprüngli said this morning (22 July) that it "continues to outperform the overall chocolate market" but organic sales growth missed market expectations.
Italian confectionery company Ferrero has reassured consumers of the safety of its products following the discovery in Germany of mineral oils in the packaging of chocolate products from Ferrero and other chocolate companies.
Strong growth in the Australian market has prompted Swiss chocolate maker Lindt & Sprungli to open a A$60m (US$45m) purpose built facility in Marsden Park in Sydney.
Swiss chocolate maker Lindt & Sprüngli has announced president and CEO Ernst Tanner is to be replaced by chief financial officer Dr Dieter Weisskopf.
Lindt & Sprungli-owned US confectioner Russell Stover has launched its first "snacking" product.
Six confectioners, including Jelly Belly and Lindt & Sprungli's Ghirardelli, have pledged not to advertise confectionery to children in the US.
Lindt & Sprüngli is stepping up investment in its retail network, with the aim of becoming the "world's leading retailer of premium chocolate" by 2020.
Lindt & Sprungli has announced the launch of a fruit-centred chocolate range in France.
Diamond Foods, itself set to be sold to US snacks group Snyder's-Lance, this week took a stake in UK popcorn maker Metcalfe's Skinny. Our M&A pages featured a number of deals, including the move for Chinese dairy group Ambrosia by Irish co-op Ornua. At the ICR investment conference in Florida, the new owner of Green Giant, B&G Foods, said it was interested in more acquisitions in the frozen food sector, while Hain Celestial told delegates it could withstand greater competition in the US natural and organic sectors.
US group Hain Celestial this week cut its forecasts for annual sales and earnings amid pressure on its domestic business. The company's management also presented at the ICR investment conference, where it sought to be upbeat about Hain's prospects. Staying in the US, Danone warned it could pursue legal action over Chobani's "misleading and deceptive marketing" which targeted its Light & Fit brand. Elsewhere, Irish dairy co-op Ornua announced the acquisition of Chinese group Ambrosia. And we analysed General Mills' recent acquisitions of Brazilian yoghurt maker Carolina and US meat snacks firm Epic Provisions. Here is the week in quotes.
Swiss chocolate maker Lindt & Sprüngli continued to grow its business ahead of the global chocolate market in 2015, supported by both organic growth and the contribution from acquisitions.
Lindt & Sprüngli booked a jump in profit for the first half as higher sales and market share gains enabled the Swiss chocolate maker to shrug off rising input costs and the negative impact of currency exchange.
Lindt & Sprungli has launched bite-sized versions of its Hello chocolate range in the US.
Fonterra this week announced plans to cut over 500 jobs as it adjusts to a slump in prices of dairy commodities, caused in part by falling demand in China. And Mead Johnson this week lowered its forecast for annual profits, with the slowdown in China's economy a factor.
The issue of sugar intake returned to the fore this week with a UK panel calling for official guidance on daily consumption to be halved. Fonterra announcing a different kind of cut, with over 500 jobs to go at the dairy exporter. China is a factor in the New Zealand group's decision and the country's easing growth is affecting a number of food multinationals. This week, infant formula manufacturer Mead Johnson cut its profit forecast on the back of challenges in emerging markets including China.
Lindt & Sprüngli reported a 17.4% jump in first-half sales, propelled by market share gains in Europe, the US and emerging markets as well as the contribution from the recently acquired Russell Stover business.
Swiss chocolate group Lindt & Sprüngli booked higher sales and earnings for 2014 but its share price reacted sluggishly in early trade today (10 March) on the cautious tone of the group's outlook.
Hershey has rejected claims of "unsafe" lead and cadmium levels in some of its chocolate as "old" and insisted that they were "discredited years ago".
Lindt & Sprungli has launched its Creation chocolate bars in the US.
Lindt & Sprüngli saw revenue surge 17.4% during 2014 thanks to the recently-acquired Russell Stover Candies in the US and strong organic sales growth.
This week, the EU announced more measures to help out dairy farmers hit by the Russia ban. Chiquita and Fyffes insisted again a merger between the two would be the best outcome for shareholders. Our latest just-food interview saw us discuss Agropur's M&A strategy with the Canadian dairy co-op's CEO, while we chatted to Scandinavian free-from firm Fria about its expansion across Europe.
Lindt & Sprungli's US unit Ghirardelli has agreed to pay US$5.25m into a fund to settle claims brought against it in a class action lawsuit.
It's a public holiday in the UK today (26 August) - thankfully the sun is just breaking through here in south London to help us bask in our Ashes victory - and, while we take a day's break, here are some of last week's top interviews, comment and analysis in case you missed them.
- Why Jet.com purchase could boost Wal-Mart online
- Murray Goulburn's FY results - 7 things to learn
- Nestle on China, candy, nutrition - analysis
- Interview, part 1: Emmi CEO Urs Riedener
- England child obesity plan should cheer industry
- Mondelez buys rest of Vietnam snacks business
- Australia launches dairy sector probe
- Tyson faces investor scrutiny on ethical issues
- Nomad Foods touts progress as H1 results worsen
- Mengniu grows sales but net profit slips