Fonterra again dominated the headlines as it grappled with the fall-out of the botulism scare. Import bans mounted and a senior executive resigned. Elsewhere, Heinz announced its first cuts since the takeover of the business, Campbell Soup Co. announced talks to sell a clutch of European assets and US group Pinnacle Foods snapped up Unilever‘s Wish-Bone dressings business.
NZ: Senior Fonterra exec quits in wake of botulism affair
Gary Romano, the head of Fonterra’s domestic milk products business, resigned from the New Zealand dairy giant in the wake of the contamination scandal that has rocked the world’s largest dairy exporter. Two days later, Fonterra announced it had placed two senior managers on leave as it presses on with its internal review into the affair.
Comment: Heinz’s new owners make presence felt
Heinz has announced the first significant job cuts since the Warren Buffett / 3G Capital takeover only last year. Given 3G’s track record with previous investments, the news the ketchup and soup company is “streamlining” its business should not be a huge surprise, writes Dean Best.
Comment: European sale shows Campbell focus on faster growth
Campbell Soup Co. has again signalled its renewed focus on businesses more likely to provide the US food giant with more rapid growth with the talks to sell a raft of assets in Europe.
US: Pinnacle eyes sales, profit boost from Wish-Bone buy
US food group Pinnacle Foods has predicted its planned acquisition of Unilever’s Wish-Bone salad dressings business will boost sales and earnings.
KENYA: Wal-Mart’s Massmart coy over link to retailer Naivas
South African retailer Massmart, in which Wal-Mart Stores owns a majority stake, has remained coy over a claim it is looking to buy a majority stake in Kenyan retailer Naivas. On Thursday, Wal-Mart lowered its annual forecasts for sales and profits amid a “challenging” operating environment.
On the money: Flowers eyes new markets before bakery reopenings
Flowers Foods will look at new markets for its enlarged portfolio of bread brands to boost volumes before it considers reopening the former Hostess Brands bakeries it acquired earlier this year.
On the money: Goodman Fielder upbeat despite bakery competition
Australian food group Goodman Fielder has insisted NPD and increased marketing spend will boost sales from its baking business, its largest division, after it came under pressure in recent months.
UK: Raisio to close snack bar plant in Wales
Raisio is to close a snack bar plant in the UK as it relocates production to another facility.
UK: 2 Sisters consulting on Suffolk facility closure
UK food firm 2 Sisters Food Group has confirmed a proposal to close its poultry facility in Suffolk.
On the money: CEO repeats WhiteWave interest in M&A
WhiteWave Foods CEO Gregg Engles has reaffirmed the Alpro owner’s interest in expanding its business through acquisitions.