Looking to 2016, it seems likely many of the trends that drove a bumper year of deal-making will persist over the next 12 months - consolida...
TreeHouse Foods confirmed what many suspected yesterday (2 November) when it announced a deal to acquire ConAgra's private brands business f...
Looking to 2016, it seems likely many of the trends that drove a bumper year of deal-making will persist over the next 12 months - consolidation, health, simple foods and emerging markets.
Since the inception of TreeHouse Foods in 2005, the US private-label group has snapped up businesses supplying the centre of the store. Now, the company has used M&A to secure a foothold in the perimeter - with the potential for further deals.
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?
After two profit warnings in five months, ConAgra Foods boss Gary Rodkin was correct to use the CAGNY conference this week to front up about the problems at the US food group - and to try to demonstrate the company can rectify them. Some of these challenges are likely to only be short term. However, ConAgra may face more work with its consumer foods and integration of Ralcorp.
ConAgra Foods will become the largest own-label firm in the US with an acquisition of Ralcorp Holdings but there are concerns over whether it can manage brands and private label. There are also questions over the potential private label has for further growth in the US. Doug Knudsen, president of sales at ConAgra, tells Dean Best why the company is upbeat about the deal, its ability to grow brands and own label and the private label sector.
Shares in TreeHouse Foods rose after the bell yesterday (14 January) on the back of expectation-beating full-year guidance.
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.
TreeHouse Foods has announced it will hire another 140 permanent employees from ConAgra Foods as part of the deal for the latter's private-label food business.
The creation of Kraft Heinz was the stand-out M&A story of the year, although there were plenty of other significant deals, including JBS's move for European meat group Moy Park, the sale of Quorn Foods to Philippines-based Monde Nissin and Nomad Foods' two transactions in European frozen food. Elsewhere, Nestle was rocked by the Maggi recall in India, while it and a number of other companies - including Hershey - suffered amid China's economic slowdown.
US group ConAgra Foods, fresh from agreeing to sell the bulk of its own-label business, set out plans to split its remaining operations in two. Staying in the US, Glanbia struck a deal to buy protein foods maker ThinkThin, while local distributor Pompeian Group is to merge with Spanish olive oil co-op DCOOP. Olive oil was under scrutiny in Italy, where a clutch of products face a regulatory investigation over claims products are being mis-sold as extra virgin olive oil.
TreeHouse Foods has announced it is closing its Bay Valley Foods plant in California.
This week, TreeHouse Foods announced the acquisition of ConAgra Foods' troubled private-label arm for US$2.7bn. Kellogg posted yet another quarter of falling cereal sales, although CEO John Bryant insisted the category was improving. Kraft Heinz Co. announced a fresh swathe of job cuts across the US and Canada And just-food interviewed UK cheese maker Wyke Farms MD Richard Clothier who highlighted the challenges in the UK market for an independent dairy operator.
TreeHouse Foods confirmed that it will acquire ConAgra's private brands business for US$2.7bn. Kellogg revealed further declines at its US cereal business. The Kraft Heinz Co. reported its first results as a combined group – and detailed further job cuts. Here are the highlights from just-food this week.
TreeHouse Foods said that its third quarter performance was shaped by “competitive pressures” across most of its categories, as lower pricing and unfavourable volume/mix weighed.
TreeHouse Foods, the US own-label supplier, is to acquire ConAgra Foods' private-label businesses in a US$2.7bn deal.
TreeHouse Foods is reportedly in late-stage talks to acquire ConAgra Foods' private-label business Ralcorp, a deal that could be worth US$2.5-2.7bn.
This week's rundown of the latest financial results include a profit warning from TreeHouse Foods, an increase to profit forecasts at Post Holdings and a clutch of Japanese companies reporting their first-quarter results.
Nestle this week a change of leadership at its embattled unit India, which has been under the spotlight in recent weeks over the nationwide Maggi recall. Elsewhere, ConAgra Foods was reported to have started talks to sell its own-label unit, with Post Holdings and TreeHouse Foods said to be interested. Our interview pages included chats with the founder of US organic baby food firm - and Danone subsidiary - Happy Family, Chinese bakery business Dongguan Kam Tai Foods and UK gluten-free company Mrs Crimble's.
Post Holdings and TreeHouse Foods are reportedly among the potential suitors for ConAgra Foods' private-label arm.
TreeHouse Foods first quarter sales surged – but the US food group cut its forecast for annual earnings. Inventure Foods revealed the devastating impact of the listeria recall. Meanwhile, Petra Foods commented on the slowdown in the Indonesian economy and weaker consumer sentiment. Here is just-food's weekly results round-up.
US-based food giants Heinz and Kraft Foods Group are set to join forces, creating the number three food and drinks company in North America - and the fifth-largest worldwide. Here is a flavour of how the market reacted.
TreeHouse Foods plans to combine the go-to-market operations of its Bay Valley Foods and Flagstone Foods operations in order to "realise the full potential of marketing the company's portfolio".
TreeHouse Foods tightened its full-year outlook today (6 November) but booked a drop in third-quarter earnings, as one-time charges dented the bottom line.
Heinz has returned production of some of its baby food products to its home town of Pittsburgh, reportedly as part of an agreement with TreeHouse Foods as co-packer.
US private-label manufacturer TreeHouse Foods today (7 August) raised its 2014 earnings forecast despite a fall in the first half of the year.
TreeHouse Foods' net sales were up 18% in the second quarter, the US private-label group has said in a set of preliminary numbers for the three-month period.
TreeHouse Foods today (30 June) confirmed it had struck a deal to buy fellow US private-label group Flagstone Foods for US$860m.
TreeHouse Foods is reportedly now in the "advanced stages" of negotiations to fellow US acquire private-label manufacturer Flagstone Foods.
TreeHouse Foods announced yesterday (2 February) it has completed its acquisition of ConAgra Foods' private-label business in a deal that will go some way to reshaping the US own-label sector.
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