Quote, unquote: just-food's week in words
just-food spoke with Intersnack about its acquisition this week
Tesco's decision to potentially exit the US market shared the headlines with Intersnack's acquisition of United Biscuit's salty snacks unit. just-food spoke with Intersnack's MD Bernd ter Glane about the deal. Elsewhere, just-food spoke with FrieslandCampina's boss Cees Ruijgrok and the chief executive of Nestle's operations in equatorial Africa, Ian Donald.
"The last 18 months, we gave the business the best shot. We minimised the costs. We reduced the losses. I don't think there's any more we could have done but once it became clear, we had to act fast" - Tesco CEO Philip Clarke on the group's decision to potentially exit the US market.
"I think everybody is still looking jealously at China. It's all relative. China will continue to grow" - Dutch dairy giant FrieslandCampina's export boss Cees Ruijgrok responds to a question on whether he is concerned about the slowdown in growth in China.
"We always were looking for a good foothold in the UK market and we saw that there is an ideal chance here" - Intersnack international marketing director Bernd ter Glane tells just-food why the company bought United Biscuit's salty snacks division.
"We realised that to develop it and to understand the consumer we were going to have to put structures on the ground and work in the countries, which is about what we are doing" - the chief executive of Nestle's operations in equatorial Africa, Ian Donald, says Nestle's need to develop a detailed and in-depth understanding of the different markets in Africa prompted it to form its equatorial Africa division.
"B&M has risen from relative insignificance to being quite a serious presence on the high street so it is quite a significant move for it to be acquired in that way and it values it at quite a lot as well" - Verdict Research analyst Andy Stevens believes the acquisition of UK discount retailer B&M Retail by private-equity firm Clayton, Dubilier & Rice is "significant" given the retailer's growth.
"If you are operating at 80-90% capacity utilisation you make money, much below this and you are working to cover your costs" - Sukhdev Joha, reader of management strategy at Royal Hollaway University of London and co-author of research report Bringing Home the Bacon, argues that, as capacity utilisation in the UK port industry drops, profit margins follow.
"It would be very naïve not to look at a balanced portfolio and a balanced investment portfolio and private label absolutely sits up there and a number of retail strategies are driven on that" - Richard Cooper, the managing director of UK baked goods firm McCambridge tells just-food the company may consider a return to private label following the sale of its own-label cake business to NBGI private equity.
"We are intrigued by the possibility that Olam could have been only days away from collapsing" - Advisory group Muddy Waters remains unconvinced Singapore state investment agency Temasek stepped in to ensure Olam was able to obtain further funds in an ongoing dispute about the company's accounting practices.
"Higher priced meat, and not just pork, beef and chicken included, have certainly had some sticker shock to consumers as they are walking in the grocery store" -Larry Pope, the chief executive of US meat firm Smithfield says consumers have reduced consumption levels as a result of the company's decision to increase retail prices.
"Where supermarkets are breaking the rules with suppliers and treating them unfairly, the Adjudicator will make sure that they are held to account" - competition minister Jo Swinson explains that the UK Government's new grocery industry watchdog will have the power to fine supermarkets who deal "unfairly" with suppliers.
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
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