UK/IRELAND: Campbell nears completion of auction
Campbell Soup, which announced its intention to sell units in the UK and Ireland in March, is rumoured to be nearing completion of the auction process with a sale expected to fetch between GBP400m (US$738.25m) and GBP450m.
Sales in the UK and Ireland generate annual revenues of about US$490m and include popular brands such as Homepride, OXO, Batchelors and Fray Bentos.
Premier Foods is considered the likely contender for the business, having announced its interest in future acquisitions - from Campbell and rival snack manufacturer United Biscuits - in May.
Reports have also linked RHM, the manufacturer of Hovis, Bisto and Mr Kipling, to a bid. While private equity groups Lion Capital, Doughty Hanson and Bain Capital are also said to be interested.
Campbell told just-food today (3 July) that while it does expect the process to be completed soon it is, as yet, unwilling to reveal when. "I am not able to confirm any timescale," Anne Burr, communications manager for Europe, said. "We do know when the process is likely to be completed but we are not releasing that information."
Putting the right ad in the right place to achieve maximum response has always been a challenge. Now, though, just as consumers have increased choice of products available to them, so advertisers have...
The acquisition of RHM by Premier Foods was greeted enthusiastically by analysts but while the GBP1.2bn deal gives Premier some prestigious brands, Katy Humphries believes questions remain over Premie...
RHM, the subject of a GBP2.6bn (US$5.14bn) takeover bid from Premier Foods, has reported a six-month turnover from continuing operations of GBP757.3%, up 2.4% compared with the same period last year....
Food from Britain (FFB), the market development consultancy which helps build business for UK food and drink manufacturers, has announced the appointment of David Wilson as managing director of its No...
Premier Foods, the acquisitive UK food group behind some of the country's best selling food brands, has made a recommended offer to acquire 100% of rival food company RHM in a deal that would create t...
Australian grocery wholesaler Metcash has reported that its profits more than doubled in the first quarter, boosted by last year's A$1.1bn (US$862m) acquisition of Australia's third-largest supermarke...
US food group Campbell Soup Company has posted net earnings for the first quarter of US$291m, or $0.72 per share, down from $302m, or $0.73 a share in the first quarter of last year which was boosted ...
The Council of Better Business Bureaus (CBBB) and the National Advertising Review Council (NARC) has announced two significant developments in the self-regulation of advertising targeted at children u...
- Price an underlying tension across European FMCG
- Interview: UK trade body on Brexit's policy impact
- Danone's Q3 sales - what the analysts say
- Interview: UK trade body on the impact of Brexit
- It won't just be Unilever to push for Brexit hikes
- Nestle lowers outlook on "softer environment"
- Bel takes majority stake in MOM Group
- Mars launches Maltesers in the US
- Abbott sees international nutrition sales fall
- Online snack seller Graze makes US retail debut
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Omega-3 in Food and Beverage:Time for a Reboot?
- Global Food Packaging: Innovating for Greater Convenience and Quality Image
- Packaged Food: Quarterly Statement Q3 2016
- Constellation Brands, Inc. (STZ) - Financial and Strategic SWOT Analysis Review