A change at the top of the world’s largest retailer grabbed the headlines this week. Doug McMillon, the head of Wal-Mart’s overseas business, is to be promoted to become the US retail giant’s CEO. Elsewhere, there was a raft of M&A stories. Murray Goulburn made what is so far the highest bid for Australian dairy Murrau Goulburn, Associated British Foods lodged an interest in UK rice brand Tilda and Premier Foods is in talks with private equity over investment in its bread arm.
US: Wal-Mart international chief McMillon set for top job
Doug McMillon, the chief executive of Wal-Mart’s operations outside the US, is to become the CEO of the world’s largest retailer, it said today (25 November).
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AUS: Murray Goulburn trumps Saputo with highest WCB offer
Australian dairy co-op Murray Goulburn has increased its offer for local peer Warrnambool Cheese and Butter Factory – trumping rival Saputo, the Canadian dairy giant.
China briefing: riding the dragon
This year, China’s GDP is forecast to grow at the slowest rate for over a decade. However, the country is set to be remain the global growth engine, presenting huge opportunities for food companies. There are, however, myriad challenges to navigate.
UK: Premier in PE talks over Hovis investment
Premier Foods plc has held discussions with private-equity investors in a bid to secure backing for its Hovis bread unit, just-food understands.
UK: ABF lodges interest in rice brand Tilda
Associated British Foods has lodged an interest in UK packaged rice business Tilda, just-food understands.
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By GlobalDataAUS: Australia blocks ADM takeover of GrainCorp
Australia has blocked Archer Daniels Midland‘s bid to buy local agribusiness GraIncorp.
This week, just-food published our latest Sustainability Watch interview. Contributing editor Ben Cooper spoke to Archer Daniels Midland global sustainability director Timothy Venverloh about making its business and those of the companies it supplies more sustainable.
UK: Chobani to temporarily withdraw from market
Chobani has confirmed plans to temporarily withdraw all its products from the UK market.
FRANCE: Poultry firms warned of possible collusion charges
France’s competition regulator has told a clutch of the country’s poultry firms they could face charges over alleged collusion.
FRANCE: Doux owners agree sale of poultry firm
The Doux family has agreed a deal to sell French poultry business Groupe Doux to investment fund D&P and Saudi food distributor Almunajem.
INDIA: Dairy Creamline seeks foreign investment
Indian dairy manufacturer Creamline Dairy Products has told just-food it is seeking foreign investment.
