Blog: Kirin looks to milk overseas growth
Dean Best | 26 August 2008
The reputation of Kirin Holdings as one of Asia-Pacific's more dynamic food and beverage companies has been enhanced further after it moved a step nearer buying Australia's Dairy Farmers.
Kirin's local unit, National Foods, has agreed a deal with Dairy Farmers following a protracted takeover battle that, at different times, included rival interest from the likes of Fonterra and Parmalat.
The A$910m (US$774m) deal remains subject to approval from Dairy Farmers' farmer-shareholders and chief executive Rob Gordon was keen to point out the benefits that the deal will bring to the co-operative's members.
"The proposal will allow shareholders to reap the rewards of significant sector rationalisation. In turn, this will lead to a stronger and more vibrant dairy industry - one that provides ongoing benefits for suppliers," Gordon said.
For Kirin, the deal would give it yet more exposure overseas as it battles a stagnant domestic market, particularly in beer. Two years ago, Kirin said it wanted to see a "quantum leap" from its business by 2015, with increasing emphasis being placed on expanding its overseas operations. Last year, the company snapped up National Foods and now, with a deal in sight over Dairy Farmers, Kirin looks set to milk the Australian market once again.
A year after union officials alleged Fyffes abused workers on plantations in Central America - and called on the produce giant to be kicked out of the Ethical Trading Initiative forum - the company is...
Much of the chatter about where 3G Capital could look next has centred on packaged food - but might the private-equity fund be about to extend its foodservice empire?...
Headlines that Mead Johnson's board has backed Reckitt Benckiser's takeover bid will no doubt overshadow the other news on the group this week – that it is facing a US lawsuit from a “whistle blower” ...
Kantar Worldpanel issued its monthly supermarket share data in the UK this morning - and the numbers showed a change in the identity of the country's top five food retailers....
- Does Kraft Heinz want to swallow Unilever whole?
- Focus: Nestle CEO plan to balance sales, earnings
- US food next wave on display at Winter Fancy Food
- Comment: Meal kits in US - don't believe the hype
- Why Reckitt Benckiser moved for Mead Johnson
- Kraft Heinz pursuing Unilever in takeover move
- Kraft Heinz pulls Unilever bid
- General Mills issues profit warning
- Kerry operating earnings strengthen on slow sales
- Kerry Group staff in Ireland suspend strike action