The bidding for Egyptian snacks group Bisco Misr intensified, there was speculation over Kerry Group’s frozen ready-meal business and Danone sold its dairy business in Indonesia.
Abraaj ups offer again in Bisco Misr takeover battle
Private-equity firm Abraaj has tabled a fresh bid for Egyptian snack maker – and Kellogg takeover target – Bisco Misr.
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Profiles: Egyptian takeover targets Arab Dairy and Bisco Misr
Egypt has been in the M&A spotlight in recent weeks, with Arab Dairy and local snacks group Bisco Misr the subject of interest from international suitors. just-food explores the background of each company and looks at why the likes of Lactalis, Arla, Kellogg and private-equity firm Abraaj are battling it out to buy the businesses.
Deal or no deal: Why a frozen sale makes sense for Kerry
Kerry Group is reportedly mulling the sale of its frozen food business. The company has seen strong sales and profit momentum at its ingredients unit but endured a lacklustre performance from the consumer foods side of the business. In this context, it makes sense for the Irish company to pare down peripheral and under-performing areas of Kerry Foods. Katy Askew reports.
Campylobacter in 70% of UK supermarket chicken – FSA
More than 70% of fresh chickens being sold in UK supermarkets are contaminated with campylobacter, a survey by the Food Standards Agency has revealed.
Indofood to buy Danone’s Indonesian dairy arm
Indofood struck a deal to acquire 100% of Danone Dairy Indonesia (DDI) through its local dairy subsidiary Indolakto.
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By GlobalDataUnited Biscuits to cut 202 jobs at UK plant – union
United Biscuits is to axe 202 posts at its McVitie’s plant in Glasgow, the GMB union said today (28 November).
On the money: Transformed Post Holdings confident about prospects
Post Holdings has undergone significant change in the last two years through a spate of M&A. While there are questions about the outlook for some of the newly-acquired assets – and for its core cereal business – the US group this week expressed confidence about its outlook.
On the money: How Greencore is outperforming the UK food market
Irish food group Greencore, which announced its annual results this week, outperformed the overall food market in UK, its largest market, on the back of its exposure to the faster-growth food-to-go segment and expansion in convenience channels.
Coca-Cola eyes long-term rewards with dairy push
Coca-Cola Co. has said the dairy category can “rain money” as the company revealed its upcoming Fairlife Ultra-Filtered Milk will sell for twice the price of regular milk.
Hormel Foods to close US plant
A Hormel Foods factory in Stockton in California is set to close in February, the US group has announced.
