Blog: CAGNY kicks off
Dean Best | 16 February 2010
"It's great to be here in Florida again especially after the winter most of us have been through," remarked ConAgra Foods CFO John Gehring as this year's CAGNY conference got under way today (16 February).
ConAgra has been among a clutch of food makers to present at CAGNY today as investors heard how the largest food manufacturers would drive growth in what remains a very challenging business climate, particularly in developed markets.
For its part, ConAgra said it would persist with its NPD programme this year, using cost-savings from its supply chain to provide the "fuel" for sales and earnings growth.
General Mills pointed to its own marketing moves to drive growth in the US but set out its stall to grow internationally over the next five years.
And, meanwhile, Kraft Foods, now the world's largest confectioner after its takeover Cadbury outlined a timetable for how it plans to integrate the UK firm into its business.
Investors have voiced concerns over Kraft's ability to drive profitable expansion and deliver promised margin growth in the wake of the Cadbury deal. However, Kraft believes the acquisition will drive annual sales and has set a target of revenue growth of at least 5%.
And, all the while, Kraft insisted it was exiting a number of "unprofitable" categories and focusing again on NPD instead of "value-driven" marketing.
Next up later today - Sara Lee, Unilever, Hershey and Archer Daniels Midland.
Danone completed its US$12.5bn acquisition of WhiteWave Foods this week. The move will roughly double Danone's presence in North America, where WhiteWave is a top four dairy player. ...
Premier Foods plc revealed today (28 March) it has secured a deal with its pension scheme trustees that will see the UK food maker reduce its pension burden....
Hain Celestial, under the scrutiny of the investment community in recent months and facing some challenges in its domestic market, has announced another shuffling of its management pack....
FrieslandCampina, which today served up higher profits but lower sales for 2016, is ready to offload the last non-dairy business owned by the Dutch cooperative giant....
- Danone's Q1: four things to learn
- Who will buy Danone's Stonyfield business?
- Nestle Q1 update: four things to learn
- Column: Why snacking is the new meal
- Interview: KP Snacks on growth strategy
- Tyson shops Sara Lee bakery, Kettle and Van's
- Nestle to cut UK confectionery jobs
- PepsiCo affirms full-year target as Q1 hits mark
- Tyson to buy burger-to-entree firm AdvancePierre
- TreeHouse Foods sells soup, baby food units