Rieber & Søn
There were, despite continued economic uncertainty in many Western markets and concerns over slowing growth in the East, signs that M&A acti...
Orkla, the Norwegian conglomerate with interests in aluminium and finance as well as pizza and chocolate, wants to focus on consumer goods....
Kraft Foods' move to buy Cadbury in January failed to spark a burst of M&A activity in the food industry, as economic conditions continued to dampen attitude to risk. As the year progressed, however, and confidence returned, the pace of acquisitions picked up. But as Dean Best reports, the nature and rationale behind the deals has altered significantly.
There have been over 640 stories in just-food's M&A section since April this year covering everything from industry-changing mergers to bolt on acquisitions and brand disposals. This section to the briefing tracks the major moves through the year by looking at all the deals that were put under scrutiny in our insights section.
As each day goes by, there seems to be more evidence of the revived appetite of private equity for deals in the food sector.
Rieber & Søn, the Norway-based food group, is a business that stretches across the Nordic region, Eastern Europe and Russia. It is also a business that, in recent months, has offloaded a clutch of assets to focus on a tighter group of operations. Michelle Russell spoke to Rieber & Søn CEO Patrik Andersson on how he is looking to reshape the business amid the downturn.
Nordic consumer goods giant Orkla today (17 July) booked a 19% increase in second-quarter operating profit, boosted by savings from the integration of 2012 acquisition Rieber & Søn
Nordic food group Orkla struck a deal to sell its Polish cake mixes and desserts business, Rieber Foods Polska ("Delecta"), to an investment fund managed by Innova Capital.
Nordic consumer goods company Orkla has booked a drop in fourth-quarter operating profit, despite an improved top-line performance.
Nordic food group Orkla has said third-quarter sales and profit growth was driven by its recent acquisition of Rieber & Son.
Wal-Mart, Kroger and Supervalu are among the US retailers presenting at a Barclays sector conference next week. The first-quarter results will continue to roll in, with Kellogg, Kraft Foods Group and Canadian retailer Loblaw part of a group of companies to publish numbers.
Norwegian food group Rieber & Søn has sold its "under-performing" crispy fried onions business in the Netherlands to local firm Top Taste Holding.
Norwegian food group Rieber & Søn has booked a drop in third-quarter profits, hit by one-off costs.
Europe's food sector saw its latest piece of consolidation this week with Orkla's bid to buy Nordic rival Rieber & Son. Elsewhere, US food group Hain Celestial continued its UK expansion with its deal to acquire brands from Premier Foods. Tesco grabbed the headlines with its U-turn on nutrition labels and we had a run of retail results from grocers including Ahold, Delhaize and Russia's X5 Retail Group.
M&A was certainly on the agenda this week as Norwegian conglomerate Orkla announced a deal to buy local food group Rieber & Søn. In addition, Hain Celestial purchased Premier Foods plc's spreads asset, and Greencore acquired the UK own-label chilled ready meals unit of Hain. Here is a selection of quotes from this week's news.
Orkla CEO Åge Korsvold today (20 August) defended Rieber & Søn's recent performance as the Norwegian conglomerate announced a deal to buy the local food group, which has had a challenging 18 months.
Norwegian conglomerate Orkla, which is reshaping its business to focus on consumer goods, is to buy local food group Rieber & Søn.
Norwegian food manufacturer Rieber & Søn today (12 July) reported lower half-year sales and profits, blaming low consumer confidence in Europe.
Norwegian food group Rieber & Søn has reported mixed first-quarter results, with restructuring costs hitting its net and operating profit but EBITDA increasing.
Norwegian food group Rieber & Søn has snapped up United Pancakes, a company that manufactures batter for pancakes and waffles.
Norwegian food group Rieber & Søn is to acquire the Saritas ready-meal brand from local ethnic food firm Taste of India.
Frutarom is set to make its third acquisition of 2012 after signing a deal to buy Brazilian flavours firm Mylner.
Norwegian food group Rieber & Søn has posted a drop in full-year profits, hurt by a one-off cost related to job cuts during the year.
Norwegian food group Rieber & Søn has named supply chain director Frank Mohn as its new CEO.
The CEO of Rieber & Søn has announced he will leave the Norway-based food maker because of family pressures, it was announced today (23 November).
Norwegian food manufacturer Rieber & Søn today (25 October) admitted that it was "very likely" the company would miss its profits targets this year after a fall in third-quarter earnings.
Frutarom, the Israeli flavours and ingredients company, is set to buy US-based Flavor Systems International.
Norwegian food group Rieber & Søn has reduced its full-year earnings forecast, pointing to "weak" sales in the first half of 2011.
Norwegian food group Rieber & Søn is lowering its earnings per share target as the company has been hit by lower sales and higher commodity costs.
Norwegian food group Rieber & Søn is to buy local caker maker Lierne Bakery in a deal that could be worth up to NOK132.7m.
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