European retail giant Delhaize this week named its new CEO – ex-Metro executive Frans Muller – but his appointment, combined with the departure of its US boss, hit the company’s shares. In the US, Mondelez International gave more detail on its plans to shake up its plant network and use fewer suppliers. And an investor in Smithfield Foods insisted it had received interest from rival suitors for the US pork giant that could be better value than the current agreed takeover bid from China’s Shuanghui International.
Talking shop: Delhaize CEO appointment brings uncertainty
Shares in Belgian retailer Delhaize Group slid as investors responded to the appointment of former Metro Group executive Frans Muller as CEO. While Muller has extensive retail experience, he comes to Delhaize from Metro’s cash-and-carry arm and, significantly, has no experience of operating in Delhaize’s largest market, the US, a fact underlined by the news the boss of the retailer’s business Stateside plans to step down.
Focus: Mondelez details plant, supplier, SKU shake-up
Oreo and Cadbury owner Mondelez International has revealed more details on its plans to boost margins, which will see it revamp its production network, do business with fewer suppliers and offer fewer SKUs.
US: Starboard fund: Rival suitors could offer more for Smithfield
Hedge fund Starboard Value, an investor in Smithfield Foods critical of its planned sale to China’s Shanghui International, has claimed rival interest in the US pork group could lead to a better offer for the business.
Interview: Investor Rutland to help put Bernard Matthews “back on the map”
Turnaround specialist Rutland Partners has taken a stake in the UK’s largest turkey brand, Bernard Matthews. Rutland managing partner Paul Cartwright is undaunted by the challenges that the company faces and – with a fresh injection of funds – Rutland believes it can help put Bernard Matthews “back on the map”. Katy Askew spoke to Cartwright to find out more about what attracted the generalist investor to the struggling poultry processor.
US: Chobani issues recall notice after complaints of “illness”
US-based Greek yoghurt producer Chobani has today (5 September) issued a recall notice after complaints its products were making consumers ill.
UK: Muller acquires UK operations of dairy group Nom
German dairy giant Unternehmensgruppe Theo Müller has acquired the UK operations of Austrian rival Nom, as it looks to expand its presence in the country’s private label yoghurt market.
Interview: Raisio targets emerging markets in Benecol push
Finnish food group Raisio is looking to expand the presence of its Benecol brand in emerging markets, with South America and Asia at the forefront. The company today (4 September) launched its Benecol yoghurt drinks in Hong Kong. Katie Smith spoke to Mikko Laavainen, vice president of Raisio’s licensed brands, who outlined the group’s mid- to long-term growth strategy for the Benecol business.
US: Hillshire Brands acquires Golden Island jerky brand
US frozen pie and chilled meats firm Hillshire Brands has signed an agreement to acquire the maker of Golden Island jerky products.