The news that dominated the headlines this week was the sale of Tate & Lyle’s European sugar operations – including Lyle’s Golden Syrup, purported to be the world’s oldest food brand. A flurry of other global mergers and acquisitions also kept just-food busy. Here is the best of just-food’s coverage this week.
AUS: Metcash acquires Franklins supermarket chain
Australian independent grocery wholesaler Metcash Trading is to acquire the Franklins chain of stores from Pick ‘n’ Pay for AU$125m (US$104.75m).
IRELAND: Irish Dairy Board to merge Kerrygold, North Downs units
Irish dairy co-op The Irish Dairy Board has decided to merge its The Kerrygold Company and North Downs Dairy units.
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On the money: General Mills confident amid fierce US competition
The “tremendous momentum” of General Mills’ domestic business can help the US food group withstand fierce competition in its home market, the Cheerios maker has insisted.
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UK: Tate & Lyle confirms sugar sale to American Sugar Refining
Tate & Lyle this morning (1 July) confirmed the sale of its sugars division in a bid to focus on “sustainable long-term growth” from its speciality food ingredients business.
US/UK: Tesco under pressure over Fresh & Easy
US investment group CtW has increased its pressure on Tesco before the retailer’s AGM tomorrow (2 July), calling on incoming director Patrick Cescau to address investor concerns about “excessive pay” and the performance of its US division, Fresh & Easy.
BRAZIL/US: JBS to buy McElhaney Feedyard
Brazilian meat giant JBS is to buy US cattle busines McElhaney Feedyard for US$24m.
SWITZ: Emerging market growth boosts Barry Callebaut sales
Faster growth in emerging chocolate markets has in a boost in revenues for Swiss chocolate giant Barry Callebaut in the first nine months of its fiscal year.
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By GlobalDataCANADA: Maple Leaf sets out plans for poison-pill defenceCanadian food group Maple Leaf Foods has outlined plans to give the company time should it receive an unsolicited takeover bid.
US/CHINA: ADM eyes growth with China investments
Commodities giant Archer Daniels Midland (ADM) has announced the opening of an office in Beijing and an investment in the Agricultural Bank of China in a bid to boost growth in the country.
