Food market news of the week – Danone, PepsiCo, Wessanen
Danone acquires Silk maker WhiteWave
This week saw Danone snap up WhiteWave in a US$12.5bn maga-deal, PepsiCo posted an upbeat second quarter and raised its guidance, while Wessanen extended its better-for-you platform in the UK with the acquisition of gluten-free brand Mrs Crimble's. Here are the top stories from just-food this week.
Danone announced a deal to acquire WhiteWave Foods this morning (7 July) in a move that values the Alpro maker at around US$12.5bn. The large-scale acquisition ramps up Danone's presence in the US and enhances its exposure to on-trend categories. For its part, WhiteWave expects the deal will move it to "the next phase of growth". Here is how each group stands to benefit from the business combination.
PepsiCo today (7 July) raised its growth outlook for the year after reporting higher than expected profit for the second quarter.
A federal bill that would require labelling of foods in the US made with genetically engineered ingredients – commonly known as GMOs – has cleared a major hurdle in the Senate and is on course to win final approval in the Senate within days.
Europe's largest turkey manufacturer, Bernard Matthews, said today (6 July) it had exchanged contracts to sell its German subsidiary, Bernard Matthews Oldenburg (BMO), to Germany's Sprehe Gruppe.
Hostess Brands LLC has said expanded product lines, new acquisitions and product innovation will form part of its blueprint for strategic growth as the US baked goods group forges ahead under new ownership following a deal announced yesterday (5 July).
FrieslandCampina, the giant Dutch dairy business, has gained a key strategic position in central Asia with its EUR420m (US$467.5m) acquisition of Engro Foods Limited, Pakistan's second biggest dairy company, in what is being described as a "defining moment" for the Pakistan dairy industry.
Wessanen has acquired UK gluten-free bakery group Mrs Crimble's for an undisclosed sum.
Icelandic Provisions is a company formed by investors from the US and Iceland to bring traditional skyr yoghurt to the US. Icelandic Provisions chairman Einar Sigurdsson believes that skyr has the potential to be the next growth area in US yoghurt, in much the same was that Greek yoghurt brought explosive growth to the category in the 2000s. Sigurdsson speaks to just-food about what he believes skyr brings to the category.
UK meat processor Hilton Food Group has entered into a cooperation agreement with Portuguese retailer Modelo Continente Hipermercados ("Sonae").
Since setting up their baby food business from their home in Northern Ireland in 2009, husband-and-wife founders of Heavenly Tasty Organics James Blair and Shauna McCarney-Blair have seen the firm go from strength to strength. Now the firm is about to launch its range of snack products in Asia. James Blair, operations director, tells John Shepherd about the firms latest expansion plans.
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