R&R Ice Cream
M&A levels remained relatively subdued in 2013. Growing private-equity interest and something of a shift in capital flows to mature markets have been significant trends shaping the M&A landscape. While gaining routes-to-market in emerging economies has remained key for strategic buyers. Katy Askew examines some of the stand-out deals of the past 12 months.
There may be caution over the prospect for blockbuster deals in a dilapidated economic environment, but the food sector mergers and acquisitions table still has plenty to whet the appetite.
It's likely Carrefour CEO Lars Olofsson will be a little apprehensive as he heads off for work tomorrow (21 June).
In the second section of a two-part interview, R&R Ice Cream CEO Ibrahim Najafi speaks to Dean Best about how the UK-based company is navigating the challenges in its domestic - and still largest - market.
R&R Ice Cream is the second-largest ice cream manufacturer in Europe by sales, behind only Unilever. But the UK-based business's CEO, Ibrahim Najafi, promoted to the top job at the company 18 months ago, has his sights on expansion further afield.
R&R Ice Cream, the UK-based ice cream maker, has reported higher sales and earnings for the first nine months of the year, helped by last year's acquisition of Australia's Peters Food Group.
Nestle's "advanced" talks to put the bulk of its ice cream business into a venture with the UK's R&R Ice Cream was the week's stand-out M&A story, while regulatory developments - the TPP trade deal, food safety rules in China and US dietary guidelines - caught the eye elsewhere.
Nestle and R&R Ice Cream confirmed that they are in joint venture talks, a tie up that could reshape the global ice cream sector. Meanwhile the historic Trans-Pacific Partnership was signed - to mixed reactions from the food sector. Here are just-food's quotes of the week.
Nestle and R&R Ice Cream today (5 October) confirmed they are in talks over a possible international frozen food and ice cream venture.
Nestle decided to quit the ice cream sector in South Africa as its business - which the food group has agreed to sell to UK-based R&R Ice Cream - was not "sustainable".
We spoke to Quorn Foods CEO Kevin Brennan this week to discuss the takeover talk surrounding the UK meat-free business and his plans for 2015. Elsewhere, Russia admitted it could ease its ban on food imports from the EU, while it was revealed in New Zealand there had been threats to poison infant formula.
Quorn Foods was in the M&A spotlight this week with speculation WhiteWave Foods had held talks to buy the meat-free business. We spoke to Quorn CEO Kevin Brennan to find out more. Elsewhere, Nestle sold its South African ice cream assets to R&R Ice Cream, while in New Zealand, dairy groups moved to reassure consumers their infant formula products were safe following poison threats. In the US, shares in some poultry firms including Tyson Foods and Sanderson Farms plunged after reports of suspected bird flu on an Arkansas farm.
R&R Ice Cream has struck a deal to buy Nestle's ice cream operations in South Africa, the UK-based firm's latest move to broaden its business outside Europe.
Campbell Soup Co., ConAgra Foods and Kellogg all indicated they are finding the going tough in the US this week with cuts to financial forecasts. Away from the results, however, it was global rice supplier Amira Nature Foods that grabbed the headlines after being accused of corruption.
R&R Ice Cream and Mondelez International have taken the snacks group's confectionery brand Cadbury Marvellous Creations into the ice cream category in the UK.
R&R Ice Cream is to roll out a slew of new lines in the UK, including products that see certain Nestle and Cadbury confectionery brands enter the category for the first time.
R&R Ice Cream is developing a new ice cream range with Tesco after the UK retailer delisted Chokablok ice cream, the brand the two companies had created three years ago.
Burton's Biscuit Co. has announced the appointment James Lambert as chairman of the company.
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.
European private-label ice cream manufacturer R&R Ice Cream has acquired Australian consumer business Peters Food Group for an undisclosed sum.
Police are investigating the recall of Tesco own-label ice cream cones in the UK after painkiller tablets were found in the products.
2013 was a bumper year for senior executive interviews on just-food and your top ten most-read pieces included our meetings with the CEOs of Nestle, Unilever and Greencore.
The horsemeat scandal, the fixing of infant formula prices in China, Fonterra's botulism scare and the UK's push towards "hybrid" nutrition labels were among the news stories that grabbed your attention in 2013.
R&R Ice Cream has confirmed it will close its Crossgates facility in Leeds at the end of the year.
M&A - as ever - was a hot topic on just-food this week. Some deals were done - Hain Celestial acquired UK organic baby food firm Ella's Kitchen and PAI Partners snapped European own-label giant R&R Ice Cream. Potential transactions were speculated about - the spin off of WhiteWave Foods prompted rumours over possible suitors and Unilever's ongoing problems in spreads led to talk it could one day sell the unit.
Two UK-based firms were the subject of takeovers this week: R&R Ice Cream, Europe's largest own-label ice cream firm, changed hands after PAI Partners struck a deal to buy the business; and Hain Celestial snapped up UK organic baby food brand Ella's Kitchen.
PAI Partners has agreed to buy R&R Ice Cream from Oaktree Capital Management and the European ice cream group's other shareholders.
UK-based R&R Ice Cream last week snapped up local rival Fredericks Dairies, a deal its CEO told us will help it compete better with Unilever. We spoke to M&A analysts about the potential sale of Burton's Biscuit Co. and to the chairman of Canada's Dare Foods about his expansion plans. In Europe, the sector was rocked by fresh horsemeat revelations, including news an Asda product contained the veterinary drug phenylbutazone.
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