The abrupt departure of Hershey chief Dave West raised eyebrows this week; what will it mean for the confectionery giant? Elsewhere in the US, General Mills closed its acquisition of a controlling stake in global yoghurt brand Yoplait, an announcement that tied in nicely with the launch of the latest just-food column – Category crunch – which takes an in-depth look at specific food categories around the world. Our analysis pages also carried discussion of Denmark’s plans for a tax on saturated fat, a story that certainly grabbed your attention. Click on the headlines for more.
On the move: West exit brings uncertainty to resurgent Hershey
The surprise announcement that Dave West would be quitting as Hershey chief executive hit the US chocolate giant’s shares and brought uncertainty to a company that has enjoyed something of a revival in recent years. Dean Best discusses the reaction to the news and the outlook for the confectioner.
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FRANCE: General Mills closes Yoplait deal
General Mills said today (18 May) that it has entered into a definitive agreement to purchase a controlling stake in French yoghurt maker Yoplait for EUR810m (US$1.15bn).
Category crunch: The “emerging market” of US yoghurt – part 1
Yoghurt has been a staple of European diets for decades but the US remains a fledgling market for the product. Demand, however, is growing. In a new monthly look at specific categories around the world, Dean Best looks at what is driving the growth of the US yoghurt market.
Focus: Denmark’s saturated fat tax provokes industry anger
Denmark is set to introduce a tax on food high in saturated fat. The levy, the Danish government claims, will improve the health of the population. The food sector has hit back, questioning that rationale and arguing that consumers will travel to neighbouring countries to buy the affected foods anyway. And, as Gerard O’Dwyer reports, the EU could rule that the tax breaks free trade rules.
UK: Co-operative Group in acquisition talks
The head of The Co-operative Group’s property division has said the UK grocer is “in talks” to acquire a number of smaller retailers as part of aggressive growth plans.
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By GlobalDataITALY: Parmalat turns down Lactalis takeover bid
Parmalat, the Italian dairy processor, has turned down a bid from largest shareholder and French dairy giant Lactalis to buy the whole of the business.
On the money: Dairy Crest evaluates “middle market” milk business
Dairy Crest is evaluating its strategy to supply milk to the so-called “middle market” of smaller retailers and foodservice customers to revive profitability at its liquid dairy business.
Talking shop: Wal-Mart bets on China’s online growth with Yihaodian
Wal-Mart recently acquired a minority stake in China’s leading online retailer, revealing its ambition to become the leading global multichannel retailer. While Chinese consumers have been quick to take up online shopping, the market remains a challenging one. Petah Marian investigates.
UK: Asda invests in food quality
Asda, the UK supermarket arm of Wal-Mart Stores, today (17 May) announced that it plans to invest GBP27m (US$43.8m) in improving the quality of its fresh food business.
FRANCE: Carrefour affirms outlook, details Dia plans
French retail giant Carrefour said today (17 May) that it anticipates a lift in full-year sales and operating income, as expansion in emerging markets is expected to offset ongoing difficulties in western Europe.
