ConAgra Foods CEO Sean Connolly, appointed earlier this year to revitalise the US group, announced its latest strategic change, with the company planning to split in two. Tyson Foods explained its decision to close two plants in the US, while Danone set out plans to grow sales and margins year-on-year.
“The separation will enable each company to sharpen its strategic focus and provide flexibility to capitalise on the unique growth opportunities in its respective market. Shareholders will gain direct exposure to more focused consumer and commercial foods businesses, each with distinct customer bases and investment profiles” – ConAgra Foods CEO Sean Connolly on the company’s announcement it is to separate into two.
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“We believe the new targets are credible” – Kepler Cheuvreux analyst Jon Cox reflects on Danone’s new sales and margin goals.
“As a premium lifestyle nutrition product with very strong brand equity, ThinkThin represents an excellent strategic addition to our portfolio of market leading performance nutrition brands” – Glanbia MD Siobhán Talbot explains the Irish group’s move for the US protein products maker.
“This partnership is the first step in building a leading olive oil enterprise that will provide consumers with full transparency from farm to plate” – DCOOP CEO Antonio Luque outlines the impact of the Spanish co-op’s merger with US distributor Pompeian Group.
“AquAdvantage Salmon is a game-changer that brings healthy and nutritious food to consumers in an environmentally responsible manner without damaging the ocean and other marine habitats” – AquaBounty CEO Dr. Ronald Stotish welcomes approval from the US Food and Drug Administration for the company’s genetically-engineered salmon.
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By GlobalData“We can better serve our customers by shifting production and equipment to more modern and efficient locations” – Donnie King, president of North American operations for Tyson Foods, explains the US meat giant’s decision to close two domestic plants.
“Two obstacles still remain, though, one pertaining to food safety and the other is an acceptable quota allocation procedure by the South African government” – Mike Brown, president of the National Chicken Council and Jim Sumner, president of the USA Poultry & Egg Export Council, argue South Africa needs to go further on US poultry before its African Growth and Opportunity Act status is renewed.
“Having Blaine and Kevin in these new roles will allow me to focus my time on future growth strategies and other value-creating opportunities” – WhiteWave president and CEO Gregg Engles explains the Silk and Alpro maker’s decision to make some changes to its management team.
“We are confident our revised strategy – shift from innovation to renovation, revenue management focus, recalibration between local and global – our renewed cost savings programme and our management changes will enable us to improve results and take advantage of the growth opportunities in Europe” – Nomad Foods CEO Stéfan Descheemaeker looks ahead to 2016 with optimism despite sales and margins at the frozen food group coming under pressure in recent months.
“Performance is well ahead of last year” – Fonterra chairman John Wilson announces the dairy giant’s first-quarter results, which prompted the company to lift its forecast for annual earnings.
