The battle for Cadbury continued this week as the UK firm outlined its case for independence, urging shareholders to reject the advances of predator Kraft Foods. The US group hit back and claimed Cadbury’s investors were leaving themselves open to “significant risk”. Meanwhile, General Mills remained bullish on its US brands growth, despite pressure in all categories and Dutch retail giant Ahold purchased the US-based Ukrop, claiming it can help the ailing chain see better times.
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“Cadbury is asking its shareholders to put their faith in possible future value creation based on a set of long-term targets, never before achieved by Cadbury and subject to significant risk and uncertainty” – Kraft spokesperson.
“Kraft seem to have run out of ideas. Neither our shareholders nor the market as a whole seem to have had any problems understanding the detail in our business plan or the defence” – Cadbury spokesman.
“This is an environment where, with leading brands that turn well, we will gain distribution and that is exactly what is happening” – General Mills chairman and CEO Ken Powell (pictured).
“It is an exceptional fit because the way Ukrop serves its customers is very similar to how we try to meet the needs of our customers at Giant stores” – Jochem van de Laarschot, vice president of corporate communications for Ahold.
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By GlobalData“This has been one of the most technically complex, politically sensitive and commercially meaningful legal disputes ever brought to the WTO” – WTO director general Pascal Lamy.
“Consumers tend to trust products based on Chinese traditional foods or medicines, believing them to have fewer side-effects” – Mitch Barns, president of Nielsen China.
“We have just as many BMWs and Audis in the car park as we have customers getting off the bus” – Asda spokesperson.
“For this season we expect another supply deficit – the fourth consecutive year. In the Ivory Coast – which produces around 37% of world cocoa – we suspect… that the harvest might be weakening” – International Cocoa Organisation.
“Saudi Arabia is the cornerstone of our business in the GCC, and will continue grow with more investment, the introduction of value-added products and strengthening Fonterra’s presence on the ground” – Amr Farghal, managing director of Fonterra’s business.
“Rather than trying to weaken these standards, I hope that the industry sees the Interagency Working Group’s recommendations as a wake-up call, and soon phases out the discredited practice of marketing junk food to kids altogether” – CSPI nutrition policy director Margo Wootan.
