Quote, unquote: just-food's week in words
By Michelle Russell | 9 September 2013
PepsiCo's president Zein Abdalla says it continues to view better-for-you snacking as a key growth area.
The Barclays Back to School Conference kicked off earlier this week - a three-day event that saw company executives gather to discuss their plans and outlook with investors and analysts. Manufacturers participating in the event included PepsiCo, General Mills, Mondelez International and Hormel Foods. Elsewhere, Delhaize named ex-Metro Group executive Frans Muller as its new CEO - and also announced the head of its US business, its largest market, would leave the company. just-food also spoke with Mikko Laavainen, vice president of Raisio's licensed brands, who outlined the group's mid- to long-term growth strategy for the Benecol business. Here is a selection of quotes from this week's news and insight.
"Looking at it from a category point of view, clearly the good-for-you end of the spectrum has tailwinds rather than headwinds" - PepsiCo's president Zein Abdalla says it continues to view better-for-you snacking as a key growth area.
"We have been asked, what will get this category growing again at its historical low single-digit rate. There is really no mystery to that" - General Mills CFO Don Mulligan says the company is increasing the marketing investment behind its cereal brands.
"It will be dramatically different from the average operations of our plants around the world today" - Daniel Myers, Mondelez executive VP for integrated supply chain, points to the difference between Mondelez's planned new biscuit plant in Mexico and its older operations.
"We have invested in Bernard Matthews because it is a really good company that has somewhat lost its way in recent years" - Paul Cartwright, managing partner of turnaround specialists Rutland Partners on its investment in Bernard Matthews.
"He has a wholesale background, not a retail one. While close, these businesses remain very different, with different customer profiles" - Kepler Cheuvreux analyst Fabienne Caron believes the experience of new Dehaize CEO Franz Muller in running Metro C&C is "close" to that required of a consumer-facing retailer but no cigar.
"We are convening negotiations in many market places and we are especially focusing on Asia and South America" - Mikko Laavainen, vice president of Raisio's licensed brands, says the company is eyeing the growth of large middle classes in developing markets with interest.
"He brings a deep understanding of global food retailing and we are impressed by his international perspective, operational expertise, and proven ability to grow businesses" - Delhaize chairman Mats Jansson on the appointment of former Metro Cash & Carry chief Frans Muller to the post of Delhaize CEO.
"The problem we've had with some of our meat lately is about more than burgers and bolognese" - A Tesco ad, taken out in national newspapers over the horsemeat scandal that has been rapped by the ASA.
"Once he was denied access to his trading account, Badin elected to forfeit all of his ill-gotten proceeds plus pay a $2 million penalty to settle the case against him" - Judge Matthew Kennelly of the US District Court for the Northern District of Illinois on settlement charges handed to a Thai-based trader for trading on non-public information ahead of an announcement on the acquisition of Smithfield Foods by China's Shuanghui Holdings.
“We've always been, when you look at us versus our competitors, quite small in terms of our overall business outside of the US, and we're still not totally where we'd like to be" - Hormel Foods CEO Jeff Ettinger says the company is looking to further grow its business outside the US.
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Quote, unquote: just-food's week in words