Lindt & Sprungli
Europe's confectionery market is the world's largest but sales are stagnant. How can confectioners eke out growth? IRI business insight mana...
Lindt & Sprungli, the upmarket Swiss chocolate group, today (19 August) underlined why it is a business seen as one of the better performers...
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.
Child labour is intrinsically linked to cocoa's broader sustainability challenges. If the cocoa sector is successful at boosting production during the coming years, it will not be deemed a sustainable expansion if the issue in the two major producing countries has not been satisfactorily addressed, writes Ben Cooper.
Perhaps the biggest story of the year, with the widest impact on the sector, was the horsemeat contamination saga. However, it was ironic the scandal should occur when food companies are placing increased scrutiny on the sustainability of their supply chains. And this year has seen some notable developments as food companies have sought collectively or individually to address sustainability issues in their supply chains.
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.
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.
This week, Russia eased off on its Western import ban, announcing a list of products it would allow into the country. Elsewhere, the takeover battle for Chiquita Brands International took a new twist when juice maker Cutrale Group called on the produce giant's shareholders to vote against its planned merger with Fyffes. Meanwhile, German food giant Dr Oetker struck a deal to buy McCain Foods' North American pizza business.
Russia's food embargo still stands but this week it eased the ban to allow in some agricultural commodities to bolster its food production. The Chiquita takeover saga continued with bidders Cutrale Group and Safra Group appealing to the produce group's shareholders to vote against its merger with Fyffes. Elsewhere, we analysed the performance and outlook for Lindt & Sprungli and Hain Celestial, two companies enjoying robust growth.
Lindt & Sprungli CFO Dr Dieter Weisskopf said today (19 August) the chocolate maker will try again to push up prices next year amid continued pressure on raw material costs.
Lindt & Sprungli today (19 August) reported a jump in half-year profits, with margins that beat analyst expectations.
For the first time since 1998, upmarket chocolate maker Lindt & Sprungli this week made an acquisition, snapping up US firm Russell Stover Candies - and we analysed the deal. Our interviews pages included hearing from the boss of Birds Eye UK about its plans to change consumer perception of frozen food, while we launched Bitesite, an interview section focused on SMEs in the sector.
This week, Lindt & Sprungli announced it was stepping up its presence in the US with the acquisition of Russell Stover Candies. Hain Celestial bought the remaining share of the Hain Pure Protein joint venture and Grupo Bimbo revealed its plan to grow its presence in Ecuador with the acquisition of Supan. Elsewhere Mondelez announced it was splitting its cheese and grocery unit from the rest of the business. Here is the week in quotes.
Swiss chocolate group Lindt & Sprüngli has booked an expectation-beating increase in first-half organic sales, with market share gains in "all key markets".
Lindt & Sprungli has announced the acquisition of US confectionery firm Russell Stover Candies for an undisclosed sum.
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.
Chocoladefabriken Lindt & Sprüngli AG in Packaged Food (Worl
Lindt is a leading premium producer of chocolate confectionery. The company has made significant gains in North America, particularly in the US. This ought to continue as a result of the company’s acq...
Confectionery in Switzerland
Confectionery in Switzerland industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018). The profile also contains...
Global Confectionery Market: News and Events March 2014
Synopsis The report provides a review of the latest news and key events in the global confectionery market during March 2014. Summary Using this report, marketers will effectively gain an insight int...
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