Blog: ConAgra, Cargill milling JV cleared - but plants must be sold
Dean Best | 21 May 2014
ConAgra Foods has secured clearance for its move to join its flour milling business with a venture run by Cargill and CHS - but after the parties agreed to sell off four plants.
The US Justice Department had argued the new venture - Ardent Mills - would hit competition, pushing up costs for the bakery industry and foodservice companies.
The Justice Department has now given the green light after the companies agreed to offload facilities.
ConAgra will sell mills in California, Minnesota and Texas. The existing venture between Cargill and CHS - Horizon Milling - will offload a site in California.
All mills will be sold to Miller Milling Co. – a US subsidiary of Japan's Nisshin Flour Milling.
"This joint venture positions Ardent Mills to deliver greater value and innovation to customers and consumers while enhancing customer and consumer choice," Cargill corporate vice president Scott Portnoy said.
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....
To follow on from our earlier notice and after some hard work from our technical team, just-food is back live after today's power outage....
- Why personalisation will take-off in US food
- US food next wave on display at Winter Fancy Food
- General Mills sales woes continue - analysis
- Comment: Meal kits in US - don't believe the hype
- Analysis: Chocolate sector's deforestation pledge
- Kraft Heinz cuts jobs in US, Canada
- Post Holdings 'close to acquiring Weetabix'
- Mondelez set for union crosshairs next week
- Mondelez plays down impact of union action
- Recipe-kit firm HelloFresh launches into UK retail