There were a series of deals this week, from Symington’s move to buy two brands from Unilever and Valeo Foods Group’s acquisition of fellow Irish food maker Jacob Fruitfield Food Group to the latest move by Sara Lee to restructure its business and sell a North American unit to US company Ralcorp Holdings. Click on the headlines for more.
UPDATE: UK: Symington’s hails Chicken Tonight, Ragu acquisitions
The chief executive of Symington’s today (8 August) called the company’s acquisition of cooking sauce brands Chicken Tonight and Ragu a “significant step” for the privately-owned UK food group.
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In the spotlight: Valeo could look to UK after Jacob Fruitfield deal
Valeo Food Group’s acquisition of Irish rival Jacob Fruitfield Food Group has highlighted the company’s ambition to lead consolidation in Ireland’s food sector. But is the move likely to signal ambitions further afield? Michelle Russell reports.
Focus: Sara Lee move adds to uncertainty around Ralcorp
Last month, Ralcorp Holdings announced it would “aggressively” look to make acquisitions to expand its private-label operations, which are set to stand alone after a spin off of branded cereals business Post. The deal to buy Sara Lee’s refrigerated dough unit is part of that strategy. However, there is still uncertainty over the future of the US company, with speculation over the intentions of ConAgra Foods, which made a bid for the whole business in May.
UK: More Ralcorp lines could follow Honey Bunches of Oats launch
More Ralcorp Holdings products could be launched in the UK in the coming months following the introduction of flagship cereal brand Honey Bunches of Oats.
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UK: Tesco threatens legal action over OFT price-fixing fine
Tesco has said it could take legal action against the decision from the UK’s Office of Fair Trading to fine the retailer over GBP10m (US$16.1m) for fixing the price of cheese.
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