We had this week that M&A activity in the food industry – at least in the UK – had slowed in the third quarter of the year but the final three months has seen deal-making return to the headlines with Hain Celestial’s takeover of Daniels Group and rumours around the future of Greencore. Click on the headlines for more.
In the spotlight: Hain Celestial swoops for Daniels to rouse UK business
Hain Celestial, the US food maker, is hoping its acquisition of UK chilled foods firm Daniels Group will galvanise its existing business on this side of the Atlantic. The company sees the deal benefiting its operations in Europe and in the US but it is in the UK where it is most likely to be hoping for the greatest impact. Dean Best reports.
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Focus: Greencore becomes a takeover target
It’s been quite a year for own-label supplier Greencore. A plan to merge with UK rival Northern Foods was gazumped by poultry magnate Ranjit Boparan. Greencore then licked its wounds and acquired UK desserts and sandwich maker Uniq. Now, however, the company is the subject of a takeover approach. Dean Best reports.
Ferrero outlines plans for expansion
The privately-owned confectionery giant has opened a plant in India, plans to set up a production base in Turkey and is considering a similar move in the UK.
UK: Tate & Lyle Sugars may close London factory
The American owners of Tate & Lyle Sugars may be forced to close its London factory because of EU tariffs on sugar imports.
On the money: Hershey could hit overseas goal early
US confectioner Hershey has said it could reach its target of generating US$1bn of sales outside its domestic market earlier than planned.
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By GlobalDataCHINA: Nestle makes changes after milk payment row
Nestle has made changes to the way it weighs milk supplied by farmers in China after claims the company was under-paying its suppliers.
RUSSIA: Danone postpones Russian factory plans
French dairy giant Danone has put its plans for a new factory in Siberia on hold due to a stagnant local market.
CHINA/US: Mengniu cools talk of Pfizer baby food bid
Mengniu Dairy, China’s largest dairy firm, has played down reports that it is preparing a bid for the baby food business of US pharmaceuticals giant Pfizer.
PORTUGAL: Jeronimo Martins to enter Colombia
Jeronimo Martins has today (27 October) confirmed it plans to enter Colombia, which will be the third market for the Portugal-based retailer.
NETHERLANDS: Job losses in wake of CSM profit drop
Dutch food company CSM today (27 October) announced it will shed around 500 jobs after a steep drop in third-quarter profits.
