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SOS Corporacion Alimentaria

Ebro Foods' failure to win over SunRice shareholders in its pursuit of the Australian rice firm will be a blow to the Spanish company but, Dean Best writes, more M&A targets are likely to be in the pipeline.

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The recent appetite for M&A in the food industry is showing little sign of abating.

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From the plain-speaking boss of US organic food group Hain Celestial to an ambitious Kerry Group chief executive and the cautious optimism of the chief of Australia's largest retailer Woolworths Ltd, here, in the first of a weekly feature, just-food gives you the food industry's 'week in words'.

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The industry witnessed two surprising CEO appointments this week with new men set to take up the reins at Tate & Lyle and Bertolli owner Grupo SOS. After his take on the new man in charge at Tate & Lyle, Dean Best looks at the challenges that lie ahead for the Spanish food maker's new boss.

Spanish food group Ebro Foods has recorded an increase in profit in the first nine months of the year driven by the integration of businesses acquired last year and innovation.

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The integration of businesses acquired last year has boosted half-year profits at Ebro Foods, the Spanish food company has said.

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Spanish food maker Deoleo, the company behind the Bertolli olive oil brand, today (29 February) said a "period of instability" had ended at the business after it recorded a profit for 2011.

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Ebro Foods will sell four of its major brands and license out another as part of its acquisition of the rice business of fellow Spanish food maker Deoleo.

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Spanish olive oil and rice producer SOS Corporacion Alimentaria swung into profit during the first quarter of this year, despite declining sales.

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Ebro Foods has completed its purchase of the rice business of SOS Corporacion Alimentaria for EUR205m (US$288.4m).

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Ebro Foods' two planned acquisitions in the rice sector will be a "new step forward" for the Spanish food group, the company's chairman and CEO has insisted.

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The North American operating arm of US agribusiness giant Bunge is to buy the rice milling business of Pacific International Rice Mills, a subsidiary of brewing giant Anheuser-Busch.

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Spanish food group Ebro Foods has purchased Australia-based Ricegrowers, which trades as SunRice, for A$600m (US$578m).

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SOS Corporacion Alimentaria said it will be focusing its attention on the US and that it is looking at expansion opportunities in Australia and India, as well as other markets.

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SOS Corporacion Alimentaria has announced it is selling its rice division to Spanish food group Ebro Foods for EUR195m (US$261m).

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Spanish food group SOS Corporacion Alimentaria narrowed its losses in the first nine months of the year.

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Spanish olive oil co-op Hojiblanca hopes to buy as much as EUR200m worth of shares in Spanish food group SOS Corporacion Alimentaria while widely-expected bidder Portugal's Sovena has dropped out of the race, sources have told just-food.

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The pressure of rising commodity costs has grabbed the headlines this week as manufacturers wrestle with higher raw-material bills. Elsewhere, just-food took an in-depth look at the US cereal sector, the moves Japan's largest grocers are making in China and we interviewed a senior executive at Swiss dairy giant Emmi.

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US agribusiness giant Bunge is in talks over a possible stake in SOS Corporacion Alimentaria, the Spanish food group behind Bertolli and Carbonell olive oils.

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Spanish food group SOS Corporacion Alimentaria has sold 80% of date and jam unit Bernabe Biosca to Tunisian firm Cogehuile.

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SOS Corporacion Alimentaria and Portugal's Sovena have remained coy about talks between the two companies after reports claimed the Portuguese firm was studying whether to invest in the Spanish olive-oil maker.

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Bertolli olive oil maker SOS Corporacion Alimentaria has set out plans to raise almost EUR600m (US$804m) as part of its plans to restructure its debt and expand the business.

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Spanish food group SOS Corporacion Alimentaria has struck a distribution deal for its Bertolli olive oil brand in Japan.

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Spanish food group SOS Corporacion Alimentaria today (6 July) revealed that remains in talks with lenders over refinancing its EUR1.1bn debts.

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SOS Corporacion Alimentaria, the Spanish food group, has decided to keep a plant in the Canary Islands open - but workers elsewhere could be laid off temporarily instead.

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A major shareholder in - and creditor of - SOS Corporacion Alimentaria has reportedly backed the Spanish food group's recapitalisation plans.

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Shares in Spanish food group SOS Corporacion Alimentaria were suspended today amid local reports of a potential US investment in the owner of Bertolli and Carbonell olive oils.

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Spanish food group SOS Corporacion Alimentaria will not sell its rice business for a price it considers too low as there is no deadline for a disposal, a source close to the company told just-food today (16 March).

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Spanish food group Ebro Puleva has reached an agreement to sell its Spanish dairy business, Puleva Food, to Lactalis for EUR630m (US$860m).

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Spain's competition watchdog has launched a probe into alleged price-fixing on rice among suppliers.