We lift the lid on safety in our sector
17 April 2014
Tesco's full-year results proved disappointing, as expected, and CEO Bill Stritz has said online retailing has played a huge part. Elsewhere first quarter results were out and Co-op saw heavy losses. It has now decided to get rid of some of the Somerfield stores and focus on its convenience offering. There were developments on the Michael Foods acquisition with Post Holdings announcing it had taken over the firm in a US$2.45bn deal. Other acquisitions this week included Daelman's purchase of UK firm Fabulous Bakin' Boys and PE firm Abraaj's acquisition of North African confectioner Kool Foods.
8 April 2014
Participants within an EU-funded research project on fighting food fraud believe they can help rebuild consumer confidence in Europe's food sector, following last year’s horsemeat scandal, writes Andrew Byrne in Brussels.
7 April 2014
This week, Tesco CFO Laurie McIlwee ended weeks of speculation over his future after handing in his resignation. Elsewhere, Kellogg was one of the three manufacturers linked to the rumoured sale of Dorset Cereals and Arla announced a proposed merger with EGM Walhorn.
31 March 2014
This week Cerebos Greggs announced the closure of its East Tamaki plant putting 125 jobs at risk. Job cuts were announced at Asda too as the company plans a restructure to cut costs. Ads and marketing campaigns were the centre of attention this week with Aldi getting its wrists slapped over the Swap and Save campaign and Sainsbury winning an appeal for a judicial review of Tesco's price promise. Here is the week in quotes
25 March 2014
Nestle has opened a food safety research centre in Beijing as part of its drive to support the Chinese government and "strengthen" food safety efforts in the country.
24 March 2014
just-food brought you exclusive updates from some of the power players in our industry as the likes of Nestle, Danone and Kerry Foods set out their investment case at the Consumer Analyst Group of Europe conference in London this week. In other news, Sainsbury's booked its first like-for-like sales drop in nine years, General Mills continued to face pressure in the US and we spoke to FrieslandCampina CFO Kees Gielen. Here are the highlights from the past week.
24 March 2014
The Consumer Analyst Group of Europe conference dominated news this week with updates from Kraft Foods Group, Glanbia and Nestle. Elsewhere GM was back in the spotlight with the UK Prime Minister's scientific advisers arguing the technology is safe. Also this week the political tensions in Russia and Ukraine saw Metro Group delay an IPO of its Russian cash-and-carry unit and Lidl announced the departure of chairman Karl-Heinz Holland.
20 March 2014
New Zealand dairy group Fontarra has announced that it will work with the Chinese authorities to develop a centre of "dairy expertise" in Beijing.
17 March 2014
The UK's Food Standards Agency has insisted that it is "working smarter" to offset a decline in the number of food authenticity tests being carried out by food safety authorities in the country.
17 March 2014
This week, The Co-operative Group CEO Euan Sutherland quit the UK retailer, hitting out at the way it was run after the company hit the headlines again - this time after his pay package was leaked. Fellow UK grocer Morrisons reported an annual loss and another year of falling sales - chief executive Dalton Philips and set out plans to fight back against the discounters.
13 March 2014
Fonterra has accepted four counts of food safety violations related to last year's botched recall of whey powder concentrate.
10 March 2014
This week Unilever was gain rumoured to be looking to sell a food brand - this time Ragu pasta sauces. UK group Premier Foods announced a new refinancing package, while in the US, a mega-merger in the retail sector is on the cards, after Albertsons owner and private-equity firm Cerberus Capital Management struck a deal to buy Safeway.
4 March 2014
Japanese food group Nissin Foods Holdings has invested JPY6.3bn (US$61.8m) to expand its global research and development and food safety capabilities.
3 March 2014
Tesco this week outlined plans for a fresh offensive to try to revitalise UK sales. Meanwhile, The Co-operative Group, which has faced its own issues in recent months, announced it was considering the sale of its farm business as CEO Euan Sutherland looks to reshape the mutual. In the US, PepsiCo once again reiterated it is not keen on splitting the company in two, while Hershey, Mars and Nestle breathed a sigh of relief after the price-fixing case it was tied up in was kicked out of court. Here is the week in quotes.
25 February 2014
One person has died and a further seven have been hospitalised in a multi-state listeria outbreak associated with Mexican-style cheese produced by Roos Foods.
24 February 2014
The Consumer Analyst Group of New York annual conference was held in Florida this week and, as ever, produced some notable comments as the great and the good of the US food sector detailed - and sometimes defended - their strategies. Danone issued its full-year numbers and shed some light on how it plans to mitigate surging dairy prices in 2014. Meanwhile, Wal-Mart - the world's largest retailer - offered a sober assessment on the outlook for consumer sentiment in the coming year. Here is just-food's week in words.
17 February 2014
Nestle and Mondelez International were among the major food manufacturers reporting 2013 results last week, although perhaps the most notable financial update was ConAgra Foods' second profit warning in five months. Elsewhere, there was speculation over the future ownership of UK grocer Morrisons and United Biscuits continued its international expansion with an investment in Nigeria.
10 February 2014
Wal-Mart, the world's largest retailer, caused a stir when it lowered its full-year forecasts this week due to pressure on US sales. Retail sales in the country have entered an upward trajectory and close competitor Target Corp has been hit by a data breach scandal - but Wal-Mart has apparently failed to capitalise. Likewise, Kellogg missed market expectations when it reported fourth-quarter numbers due to an accelerating decline in North American revenues. Here are the highlights from just-food this week.
10 February 2014
Sales growth at Hain Celestial fell slightly short of expectations, prompting the question of whether the natural and organic group is trying to run before it can walk. Elsewhere analysts picked up on Wal-Mart's failure to impress with its quarterly figures. Kellogg results also fell short and CEO John Bryant insisted the initial start-up costs of Project K will pay off in the long term.
30 January 2014
A worker at Maruha Nichiro Holdings, the Japanese company at the centre of a recent food recall, has been arrested and the recall expanded in the wake of news the malathion contamination scare is believed to be the result of deliberate tampering.
20 January 2014
This week, we interviewed the boss of UK-based meat-free business Quorn Foods, which saw sales jump last year, helped by the horsemeat saga. We also spoke to the chair of the National Obesity Forum after its report warned forecasts on UK obesity rates may have under-estimated the problem. Elsewhere, Fonterra was caught up in another recall, Saputo received a boost in its bid to buy Australian dairy Warrnambool Cheese and Butter Factory and Hain Celestial swooped to acquire UK rice firm Tilda.
20 January 2014
US group Hain Celestial swooped again in the UK last week, snapping up UK rice business Tilda. Meanwhile, obesity grabbed UK headlines with warnings forecasts for the condition could have under-estimated the problem. Fonterra issued another product recall, Saputo received a boost in its bid to buy Warrnambool Cheese and Butter Factory, while our first just-food interview of 2014 saw us meet Quorn Foods CEO Kevin Brennan.
15 January 2014
Food recalls are part of the industry in which we operate. Even companies with best-in-class safety and quality standards can, from time to time, be forced to recall product. However, when New Zealand dairy giant Fonterra issued an E.Coli recall earlier this week, echoes of last year's botulism scare jumped to mind. With this fresh recall coming hot on the heels of such as massive blow, Katy Askew suggests Fonterra could find its reputation tarnished further still.
14 January 2014
Fonterra has recalled fresh cream sold under its Anchor and Pams brand in New Zealand after tests indicated products could be contaminated with E.Coli.
13 January 2014
Danone announced this week it would take Fonterra to court to recoup damages from last year's botulism recall. In the UK, the country's major grocers announced how they performed over Christmas, with Tesco and Morrisons under pressure. And health campaigners said they are targeting the level of sugar used by the food industry.
9 January 2014
Danone has said that it will start legal proceedings against Fonterra in an attempt to recoup losses stemming from the New Zealand dairy giant's botched botulism recall last year.
6 January 2014
M&A levels remained relatively subdued in 2013. Growing private-equity interest and something of a shift in capital flows to mature markets have been significant trends shaping the M&A landscape. While gaining routes-to-market in emerging economies has remained key for strategic buyers. Katy Askew examines some of the stand-out deals of the past 12 months.
3 January 2014
Japanese food group Maruha Nichiro Holdings has launched an investigation into how a number of its products became contaminated with a pesticide, sparking a recall of 88 products in the country.
2 January 2014
Wal-Mart has withdrawn batches of donkey meat on sale at its stores in China after the products were contaminated with fox DNA.
2 January 2014
Police are investigating the recall of Tesco own-label ice cream cones in the UK after painkiller tablets were found in the products.