Quote, unquote: just-food's week in words
By Michelle Russell | 16 April 2012
Ebro Foods chairman and CEO Antonio Hernandez Callejas spoke exclusively to just-food
Carrefour's first-quarter and Supervalu's full-year results kept the just-food news desk busy this week, despite a shorter week following the Easter break. Carrefour's CFO in particular sounded an upbeat note on the firm's earnings call, despite its struggles in France. Supervalu chief executive Craig Herkert was equally optimistic, informing analysts of the firm's expectations for "another year of solid progress". Elsewhere, just-food spoke exclusively to Ebro Foods's chairman and CEO Antonio Hernandez Callejas who talked about the firm's growth plans and its acquisition challenges.
"We enter the new fiscal year as a leaner company, committed to a business strategy that will make us a more competitive retailer" - Supervalu Inc chief executive Craig Herkert said the retailer had built a "strong foundation" over the last 12 months on which it could continue to implement its new strategy.
"We are debt free in a market where access to credit has become increasingly difficult, so we didn't buy the company but we still have the money, and today you can probably buy more with that money than you could last March" - Ebro Foods chairman and CEO Antonio Hernandez Callejas believes the company is in a better position for losing the purchase of SunRice.
"As you know, one of the key cogs in that plan is a new commercial mix that shifts away from promotions to focus more on steady pricing. This, admittedly, has had an impact on sales but should gradually lead to an improved performance" - Carrefour CFO Pierre-Jean Sivignon explains the firm's drop in sales was a result of the implementation of the group's "reset plan"
"IHC has a strong track record of investing in successful food businesses around the world and Adelie is its first major investment in the UK" - a spokesperson for Adelie explains the rationale behind the sale to IHC
"Monitoring should be very serious. Internal control should account [for] 30% in the total cost of the product" - Gennady Onishchenko, head of Russian consumer rights watchdog Rospotrebnadzor on Russia's agreement to lift the ban on the import of Ukrainian cheeses
"[Each defendant] knew, or recklessly disregarded, the fact that their trading was in breach of a fudiciary duty or similar duty of trust owed to the shareholders of Zhongpin" - The US Securities and Exchange Commission on freezing the assets of six Chinese citizens and one company charged with insider trading in shares of Zhongpin.
"Fearmans Pork has made great strides as a standalone business. Sofina Foods is a natural steward for the next stage of its growth" - Sun Capital co-CEO Marc Leder on the firm's acquisition of local firm Fearmans Pork from private-equity firm Sun Capital Partners.
"We want to establish an integrated milk business in China that processes high quality milk from Chinese farms into dairy nutrition for Chinese customers and consumers" - Fonterra CEO Theo Spierings outlines the company's plans for China
"The board and Mr. Yang confirmed that they have no disagreement with each other and there is nothing relating to Mr. Yang's resignation as CEO of the group" - China Mengniu Dairy on the change of CEO
"No cost saving measures will impact food safety" - A spokesperson for the Canadian Food Inspection Agency assured just-food on the sacking of 100 government food inspectors
"Basmati rice is a special, high value rice and assuming it is not available in GM form, one may conclude these consignments are being deliberately cut with cheap GM-rice to boost profits" - Richard Warren, Cert ID Europe's managing director on basmati rice being rejected by border controls due to contamination with GM material
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Quote, unquote: just-food's week in words