The use of antibiotics in the rearing of animals has been a much discussed issue in recent weeks, with regulatory and corporate moves across...
All signs are pointing to a growing public awareness of – and concern about – the use of human antibiotics in animals that will subsequently...
Brazil-based JBS is already the world's largest meat supplier but it has its sights on growing further in value-added products and in Asia - and has turned to a business in Australia to help it achieve that goal.
Tyson Foods has won through in the bidding war to acquire Hillshire Brands with an improved US$63 per share offer for the for the Jimmy Dean maker. But, at 16.7x EBITDA, is the lofty price of US$8.55bn overly inflated? Katy Askew investigates.
The dramatic M&A battle being played out in the US protein space comes as fresh evidence that food companies are willing to pay top-dollar for quality businesses in a consolidating sector.
Tyson Foods entered fray today (29 May) when it issued a fresh bid for Hillshire Brands, trumping an earlier offer from Pilgrim's Pride. Like Pilgrim's, Tyson stressed the strategic merits of taking control of the Jimmy Dean-to-State Fair manufacturer. Tyson is clearly prepared to pay a premium price for Hillshire - but will another bid be forthcoming? Katy Askew reports.
Meat processor JBS has posted an increase in third-quarter profits and sales despite weakness in its US market.
Higher charges and a negative impact on foreign currency translation have weighed heavy on Pilgrim's Pride's bottom line during the third quarter of its financial year.
The US Department of Agriculture has calmed fears over the outlook for feed prices, prompting shares in protein groups such as Pilgrim's Pride and Sanderson Farms to rise.
The results announced this week included improving sales and profits at Yakult, better earnings but lower sales at US poultry group Pilgrim's Pride and growth at Mexican dairy processor Grupo Lala.
Rising demand for protein has led to a jump in profits for Pilgrim's Pride for the first quarter of the year.
This week, Associated British Foods reported its annual results and revealed it struggled with competition in the UK and Australian bakery sectors. US consumer goods rookie acquired Birds Eye owner Iglo Group. Hershey had its first quarter results out which demonstrated troubles in uptake of chocolate in China. And Blue Bell announced it was pulling all its products off US shelves after fresh tests found more listeria-ridden products. Here is the week in quotes.
US poultry processor Pilgrim's Pride plans to remove all antibiotics from 25% of its chicken production by 2019.
Brazil-based meat giant JBS attributed a jump in 2014 sales and earnings to its transformation drive, which has aimed to turn the company into a "multinational of Brazilian origin".
US poultry processor, Pilgrim's Pride, has reported a profit jump for the full year
The takeover battles for Chiquita Brands International and for Hillshire Brands were among the stories that grabbed your interest in 2014.
US chicken group Pilgrim's Pride has booked an increase in earnings for the first nine months of the year, boosted by higher sales and margins.
US food group Hillshire Brands, set to be taken over by meat giant Tyson Foods, has reported a year of increasing sales and profits.
US poultry processor Pilgrim's Pride has reported higher half-year profits as a lower cost of sales helped offset a dip in sales.
Tyson Foods has struck a deal to sell its operations in Mexico and Brazil to meat processing rival JBS.
Tyson Foods and Hillshire Brands today (2 July) entered into a "definitive" agreement that will see the US meat processor acquire the maker of Jimmy Dean sausages for US$8.55bn.
Pinnacle Foods plans to use the break-up fee it will receive from the termination of its proposed agreement to be sold to Hillshire Brands to lower its debts.
US poultry processor Pilgrim's Pride has confirmed it is still looking to make acquisitions after pulling out of the race to buy Jimmy Dean sausage maker Hillshire Brands.
Tyson Foods has confirmed that, following the conclusion of a competitive bidding process, it has submitted a US$8.55bn binding offer to acquire Hillshire Brands.
Tyson Foods has reportedly raised its bid for Hillshire Brands, outbidding rival Pilgrim's Pride in the battle to take control of the Jimmy Dean maker.
Several major deals were struck this week including ABF's buy of Dorset Cereals and Cloetta's acquisition of Aran. Pilgrim's Pride upped its bid for Hillshire Brands. Elsewhere Cloetta has been accused of using "sneaky" marketing tactics to sell its sugary Chewits product. Mondelez on the other hand pulled its Bar and a Half product in a bid to reduce per person calorie intake.
Hillshire Brands has confirmed Pilgrim's Pride has increased its takeover bid for the US food group.
Pilgrim's Pride is reportedly upping its offer for the acquisition of Hillshire Brands to US$55 a share.
US meats group Hillshire Brands has this week turned from hunter to hunted. With its offer for Pinnacle Foods on the table, the Jimmy Dean sausages maker is the subject of two takeover bids from JBS-backed Pilgrim's Pride and then Tyson Foods, looking to boost their meat empires with higher-margin products. Elsewhere, Sweden-based confectioner Cloetta snapped up Ireland's The Jelly Bean Factory, Nestle and Fonterra revamped their venture in South America and R&R Ice Cream bought Australia's Peters Food Group.
Hitting headlines this week was the bidding war for Hillshire Brands which saw Tyson Foods and Pilgrim's Pride both go head to head. Elsewhere, Peters Food Group was acquired by R&R Ice Cream, while Nestle and Fonterra issued a statement saying they were scaling back their Latin American partnership. Also this week, Synlait Milk announced it was revising its 2014 earnings outlook and Danish Crown announced 190 jobs would go as it chose to close its Bornholm slaughterhouse.
Pilgrim's Pride Corporation (PPC) - Financial and Strategic
Pilgrim’s Pride Corporation (Pilgrim’s) is a poultry company, which carries out the production, processing, marketing and distribution of fresh, frozen and ready-to-cook chicken products....
Global Meat Market: Merger and Acquisitions May 2014
Synopsis The report provides a review of the mergers and acquisitions (M&As), partnering deals, and agreements entered into by companies active in the global meat market during May 2014. Summary Usin...
Global Bakery & Cereals Market: Merger and Acquisitions May
Synopsis The report provides a review of the mergers and acquisitions (M&As), partnering deals, and agreements entered into by companies active in the global bakery & cereals market during May 2014....
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