This week, food giants continued to post third-quarter results including German retailer Metro Group and food manufacturer Kraft Foods. Meanwhile, B&G Foods snapped up four food brands from Unilever. However, Diamond Foods’ acquisition of Proctor & Gamble’s brand Pringles has been delayed six months due to an investigation.
“It’s a game changer in terms of taking the business to another level” – B&G Foods chief executive David Wenner talking about the US company’s acquisition of four food brands from Unilever.
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“Without question, the food and grocery manufacturing industry is at a critical crossroads” – Kate Carnell, chief executive of the AFGC, said 130,000 jobs could be lost in the next nine years if the country’s food industry does not change.
“This result sends the clearest signal yet to Park Cake management and their owners, Vision Capital, that the workforce of both Bolton and Oldham will not tolerate unfairness or the introduction of law-busting contracts” – Ian Hodson, president of the Bakers, Food and Allied Workers Union (BFAWU) supports Park Cake workers opting to take industrial action over changes in employment legislation.
“It might come as a surprise to some of you but I am still here…I will be here for as long as the company needs me” – Metro Group CEO Dr Eckhard Cordes told investors he will serve as CEO of the German retailer for as long as the company needs him.
“If the right acquisitions are there, it would be nice to accelerate our [growth] strategy through acquisitions” – Tate & Lyle CFO Tim Lodge said acquisitions may be on the horizon after the company reported growth in half-year sales and profits.
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By GlobalData“We are doing this from a position of strength. Our business has never been healthier around the world” – Kraft Foods chairman and CEO Irene Rosenfeld defended the split of the company in two after it reported higher quarterly sales and profits.
“Meanwhile, we are increasing our investment in the future, with strong support behind core brands and new product development” – Sara Lee executive chairman, Jan Bennink talks about future investments after releasing the company’s full-year profit losses.
“Whilst we are still open to alternatives to ending manufacture, the potential closure of the site has been a very difficult decision and not one we make lightly. Whilst we are lucky to have an extremely committed team at Cumbernauld, the market is tough” – Patak’s Breads general manager Martin Brewis said the decision to halt production at the Cumbernauld facility was a tough one to make.
“We are totally against it. The AWD was put into place to stop agency workers being exploited by unscrupulous employers” – Ronnie Draper, general secretary of the Bakers, Food and Allied Workers Union is clearly against the “Swedish derogation” model Morrisons is using.
“By 2015 we plan for Spar to have significant presence not only in the UAE but also across a number of other GCE countries” – Spar International MD Dr Gordon Campbell, speaking as the retailer opened a supermarket in the UAE, its first store in the Middle East.
