Food market news of the week – Danone, Mondelez, JBS
Turbulence at JBS as fraud probe continues
This week saw more drama at the top of Brazil's JBS, with senior management replaced and then reinstated in connection with a police probe into reported allegations of fraud. Associated British Foods continued to improve margins at its grocery business – and is reportedly preparing to sell its ACH Food Companies unit, which manufactures oils under the Mazola retail brand. Meanwhile, Danone is reportedly preparing to withdraw its Dumex brand from Vietnam due to falling market share. Here are the top food sector stories from the past five days.
Associated British Foods has said that its operating performance in the second half of the year was ahead of expectations with margin expansion at its grocery business.
B&G Foods is reportedly in negotiations with Associated British Foods over the potential acquisition of US cooking oil business ACH Food Companies.
Fresh uncertainty has been raised over the future of Bernard Matthews, with reports suggesting that the company's owners could be preparing to transfer the company's pension liability to the Pension Protection Fund.
Today, PepsiCo publishes the first update on its Palm Oil Action Plan. Ben Cooper spoke with Andrew Aulisi, senior director, global environmental policy at PepsiCo, about the progress to date and how the company's initial actions and achievements are likely to be received by environmental campaigners.
José Batista Júnior has been appointed as interim president and CEO of Brazil-based meat giant JBS, after a court in the country ordered the temporary suspension from office of his predecessor, Wesley Batista, in connection with a police probe into reported allegations of fraud at a number of Brazilian pension funds.
Brazil-based meat giant JBS said today (14 September) that Wesley Batista and his brother Joesley Batista had been reappointed to their respective posts of CEO and board chairman at the firm just hours after they were suspended from office by a court order.
Prolonged economic recession, increasing competition and sector-specific challenges such as seasonality confront ice cream makers in Russia. Navigating these waters can be tough. But the segment has been showing increasing dynamism and the Russian ice cream market continues to present an important growth opportunity. Andrew Buenyeat, Keith Nuthall and Eugene Vorotnikov report
France's Danone, which sells the Dumex infant formula brand in Vietnam, is reportedly preparing to halt investment in the product in the country as a result of a falling market share.
Mondelez International has unveiled plans to invest US$65m in establishing a global network of research, development and quality (RDQ) "hubs".
Mondelez International has entered into an agreement with business-to-business chocolate supplier Barry Callebaut that includes the transfer of its production facility in Halle, Belgium.
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