Quote, unquote: just-food's week in words

By Michelle Russell | 9 July 2012

Premier Foods plc this week announced another asset sale with the disposal of its ethnic flour business Elephant Atta to Associated British Foods. CEO Michael Clarke believes the firm is on track with its plans to divest non-core units. Analysts are confident the group will reach its target. Elsewhere, French poultry firm Doux has confirmed ten bids for its business, while in the UK, the National Farmers Union has expressed its disappointment over cuts to farmgate milk prices.

"I think they'll probably get there. It's just the case that the balance sheet will remain fairly highly geared" - Panmure Gordon analyst Graham Jones on concerns Premier Food's latest disposal of its ethnic flour business Elephant Atta to ABF will be enough to east the pressure on the company.

"I don't think Nestle would make such a high-profile commitment if they weren't absolutely determined to carry it through" - Fair Labor Association chief executive Auret van Heerden on Nestle's decision to act on recommendations in its report into the firm's Ivory Coast cocoa supply chain.

"We are continuing to deliver on our growth strategies, growing our Power Brands, divesting selected, non-core businesses and reducing costs on track with our plans" - Premier CEO Michael Clarke on its decison to sell ethnic flour business Elephant Atta.

"Consumers will always want their cod or salmon, but by offering less available fish that are in season and having fishmongers on hand that can provide advice on how to handle them we hope to alter peoples' attitudes to fish" - Morrisons fish specialist Andrew Speight says consumers are often "wary" of fish.

"It's our understanding is that the judicial administrators will use the period between now and the week commencing 23 July to incite the bidders to improve their offers ahead of an audience at the Paris commercial court scheduled to be held before the end of the month," a Doux spokesman on ten bids made for the poultry firm.

"This is an extremely sad day and one we have strenuously tried to avoid for the past four years, but the huge losses being incurred mean we believe we have no alternative" - Peter Barr, chairman of Vion's UK operations comments on the firm's decision to close its Broxburn site.

"This situation is totally unsustainable and we need to look at how it can be rectified" - a spokesperson for the National Farmers Union considers what action to take in protest against the dairy processor's milk price cuts.

"Delta are very supportive of our strategy ... there is a good relationship between Delta Partners and ourselves" - a spokesperson for Wessanen tells just-food the appointment of Rudy Kluiber is the first time Delta Partners has recommended a nomination to the board.

"This launch is in line with our business objective of growing the premium gifting chocolate market and we are confident that Toblerone will significantly help us drive future growth" - Cadbury India director for snacking and strategy Chandramouli Venkatesan explains its decision to launch Toblerone in India.

"The Irish economy has had a particularly tough time and when we entered the Irish market the value proposition went down really well" - Tim McConnell, retail operations director for Poundland says its Dealz stores in Ireland are performing "really well".

Sectors: Advertising & labelling, Baby food, Bakery, Canned food, Cereal, Chilled foods, Commodities & ingredients, Condiments, dressings & sauces, Confectionery, Dairy, Dried foods, Emerging markets, Financials, Food safety, Fresh produce, Frozen, Health & wellness, Ice cream, Meat & poultry, Mergers & acquisitions, Natural & organic, NPD & innovation, Private label, Retail, Seafood, Snacks, Sustainability & the environment, World foods

Companies: Nestle, Premier Foods plc, Associated British Foods, Vion, Morrisons, Wessanen, Cadbury, Poundland

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Quote, unquote: just-food's week in words

Despite the week being a shorter one due to the Christmas break, the news has continued to roll in. One deal in particular that has dominated the headlines is Hormel's acquisition of Unilever's Skippy brand. Hormel CEO Jeff Ettinger is confident the deal will allow it to grow its share of the US nuts and spreads category. Elsewhere, just-food spoke with Tyrrells about the firm's export plans, while Dole got analyst tongues wagging after issuing a worse than expected profit outlook.

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