Post Holdings has undergone significant change in the last two years through a spate of M&A. While there are questions about the outlook for...
Tyson Foods has seen sales and earnings growth lifted by consumer demand for proteins. The company has emphasised its strategy to grow organ...
Desperate for growth in a moribund trading environment, there are signs some food manufacturers operating in the US are using acquisitions to bolster their presence in more vibrant parts of the industry. Should others follow?
Food manufacturers seem to be willing to take more risks on NPD, which is encouraging after seeing years of caution and a focus on nostalgia or new packaging formats. However, for those operating in struggling categories, innovation may not solve the dilemma of how to reignite growth.
As each day goes by, there seems to be more evidence of the revived appetite of private equity for deals in the food sector.
US food group Post Holdings has reached an agreement to settle anti-trust class action claims against its Michael Foods unit.
Post Holdings, the US food group, today (17 November) booked lower annual losses on the back of higher sales but the company saw its top line decline in the fourth quarter.
Post Holdings, the owner of US egg business Michael Foods, has moved to add to the business by acquiring domestic peer National Pasteurized Eggs.
Post Holdings, the US breakfast cereal, eggs and protein shakes group, has recorded a 4% fall in underlying third-quarter net sales amid what it called "an anticipated decline" from the company's Michael Foods Group division.
Ahead of the climate talks in Paris, Unilever announced plans to be carbon positive from its operations by 2030. Elsewhere, there was more consolidation in the US food sector, with Pinnacle Foods moving for Boulder Brands. Tyson Foods, Post Holdings and Greencore all had annual results out in the week. Maple Leaf Foods outlined plans to "streamline" its business, which is set to lead to the loss of 400 staff. Here is the week in quotes.
Post Holdings has insisted its US egg business is in a strong position following the bird flu outbreak and suggested it is eyeing possible acquisitions in the sector.
Post Holdings reported a lower net loss for the year, lifted by higher operating earnings and the lapping of one-time costs.
Michael Foods, the egg processing business owned by Post Holdings, has reportedly filed a lawsuit against Hawkeye Pride Egg Farms, a division of Center Fresh Group, alleging that it breached a supply contract after avian influenza hit the firm and prevented it from meeting its egg supply obligations.
Post Holdings has warned that 35% of its egg supply has now been disrupted by the outbreak of avian influenza that is sweeping the mid-western US.
A further eruption of avian influenza at a farm supplying Post Holdings with eggs has prompted the company to declare the outbreak sweeping the US a "force majeure", with bird flu now hitting 25% of its Michael Foods egg supply.
Post Holdings, the owner of the Michael Foods egg business, has warned two further outbreaks of avian influenza mean 20% of its egg supply is affected by the disease.
Post Holdings raised its full-year outlook to reflect a “better than expected” year-to-date performance but also warned on the uncertain impact of avian influenza.
Mondelez International reported on its first-quarter results this week (1 May) and the group was eager to emphasise its performance in China, which was stronger than many multinational peers. Nestle is a company facing its own challenges in China and we analysed how the appointment of CFO Wan Ling Martello to head up its Asia unit can boost the group's outlook in the market. Elsewhere, we spoke to Gardein founder and CEO Yves Potvin as well as learning about Muller Wiseman's plans to launch a liquid milk brand in the UK. Here are the highlights from just-food this week.
Post Holdings revealed yesterday (29 April) that avian influenza has been detected at an unnamed third party supplier of eggs to its Michael Foods Group business.
Post Foods has booked a jump in first-half sales, which were boosted by acquisitions. However, margin pressure and higher financing costs dented profits in the period.
Acquisition-hungry US food group Post Holdings has today (17 April) announced its biggest takeover - an agreement to buy egg-to-dairy supplier Michael Foods for US$2.45bn.
It is two years since US food group Ralcorp Holdings spun off branded breakfast cereal maker Post Holdings. And the Grape Nuts owner has, through a number of acquisitions, rapidly built a broader business designed to diversify away from a cereal market in the doldrums. just-food runs through the deals.
Tesco's full-year results proved disappointing, as expected, and CEO Bill Stritz has said online retailing has played a huge part. Elsewhere first quarter results were out and Co-op saw heavy losses. It has now decided to get rid of some of the Somerfield stores and focus on its convenience offering. There were developments on the Michael Foods acquisition with Post Holdings announcing it had taken over the firm in a US$2.45bn deal. Other acquisitions this week included Daelman's purchase of UK firm Fabulous Bakin' Boys and PE firm Abraaj's acquisition of North African confectioner Kool Foods.
Tesco was in the spotlight this week after the publication of its annual results confirmed what a challenging year the UK's largest retailer endured. Another UK grocer under scrutiny is The Co-operative Group, which reported banking-induced losses, but revealed it is re-sizing its food retail estate to give it more focus. Elsewhere, China's WH Group, of which Smithfield Foods is now a part, announced plans to list in Hong Kong and US group Post Holdings made another M&A move, with a deal to buy egg-to-dairy supplier Michael Foods.
US egg-to-dairy supplier Michael Foods, which looks set to be taken over by Post Holdings, has indicated pressure from commodity prices has affected its first-quarter EBITDA.
Tyson Foods and Post Foods have reportedly been short listed as possible buyers in the sale process for US protein group Michael Foods.
Michael Foods, the US egg-to-dairy group, has booked an increase in sales and earnings for 2013.
US firm TreeHouse Foods is reportedly weighing a bid for Michael Foods.
Tyson Foods has remained silent on reports it has tabled a formal offer for US group Michael Foods.
Tyson Foods has declined to comment on speculation it is mulling over an acquisition of US egg and dairy products producer Michael Foods.
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