Ahead of its split in two next month, Kraft Foods this week outlined its plans for snacks arm Mondelez International. Hershey will be a rival of the new company and it made the headlines with its deal to take full control of its venture in India. In the retail sector, Morrisons posted better first-half results than some had expected and Ahold announced plans to review its stake in Nordic retailer ICA.
Kraft outlines ambitions for snacks arm Mondelez
The US food group, set to split in two next month, told investors its plans for the global snacks giant it will create, Mondelez International, which will own Trident gum, Cadbury chocolate and Oreo gum.
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Hershey takes control of Indian venture
After months of speculation, Hershey is to buy out its partner in India, taking control of a loss-making business that so far has struggled to make headway in the fast-growing market.
Morrisons H1 results better than expected
Morrisons, the UK’s fourth-largest grocer, claimed “steady progress” after mixed first-half results that included a dip in like-for-like sales but not the fall some were expecting. Click the headline for analysis and comment of the results.
Talking shop: Pragmatic Ahold puts Nordic foray under review
Ahold’s decision to review its investment in Nordic retailer ICA is another sign of the Dutch retailer’s considered approach to growth, Dean Best writes.
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On the money: We need to accelerate “transition” – Campbell CEO
The changes Campbell Soup Co. chief Denise Morrison is looking to make at the US food giant are taking longer than expected and need to be accelerated, she has admitted.
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By GlobalDataStreet talk: Quality, value prevail in tough times
We are seeing an unprecedented situation playing out with sustained economic uncertainty and turbulence in developed markets, writes SymphonyIRI’s Rod Street. Yet even with the value squeeze and closing gap between national and retailer brands, quality and value are prevailing.
US: US food volume trends remain “muted” – General Mills
US food giant General Mills today (6 September) warned sales and volumes in North America remain “muted”.
US: Supervalu to shut “under-performing” stores
US retailer Supervalu, battling to revitalise its business, has decided to close around 60 stores.
US: Snyder’s-Lance hails Snack Factory cash, brand power
US snack group Snyder’s-Lance has said its acquisition of Snack Factory for US$340m will significantly boost sales, cash flow and profit margins.
UPDATE: DENMARK: Arla expects dairy price recovery
Arla Foods has said it expects dairy commodity prices to improve in the second half of the year, which it claimed today (3 September) will help it hit its forecast for annual profits.
