US: Casey’s confirms 7-Eleven bid
Casey’s General Stores has confirmed it is in talks with 7-Eleven after receiving a US$2bn takeover bid from its larger US c-store rival.
On the money: Morrisons plans range rationalisation
Morrisons, the UK’s fourth-largest grocery retailer, announced a raft of new initiatives today (9 September), among which included plans to simplify its range.
Comment: Barry Callebaut’s tasty business model
Today’s (9 September) announcement that Barry Callebaut has signed a fresh agreement with Kraft Foods to supply the US food giant with cocoa and chocolate sent the Swiss firm’s shares soaring.
SPAIN: Junk food banned in schools
Spain has launched a law to curb the sale of “junk” food, snacks and drinks in the country’s schools to tackle growing obesity rates, the Health Ministry has announced.
VIETNAM: Heinz expands local sauce stable
US food giant Heinz has launched two more sauce products in Vietnam, a market the group has highlighted as one of a clutch of key new emerging markets.
On the money: Ocado unfazed by prospect of more competition
Ocado CFO Andrew Bracey was today (7 September) unfazed by murmurings that Morrisons and Marks and Spencer might be planning to enter the UK online grocery channel.
On the money: Campbell Soup Co looks to “fire up” condensed soup
Campbell Soup Co. said that in fiscal 2011 it plans to “fire up” its condensed soup range to benefit both cooking soups and eating soups despite a continued “challenging” landscape.
SPAIN: Private labels take 41% market share
Sales of private label products in Spain have risen 5.6% to reach 41% during July as consumers feel the pinch from the country’s deep recession.
US: Diamond Foods plans aggressive growth
The CEO of US food manufacturer Diamond Foods has said he is expecting the company’s net income to grow 20% on average each year over the next five years.
CHINA: Beijing plans more food-safety reforms
The Chinese government will accelerate building a national third-party food inspection system after recent food scandals involving mooncakes, shrimp and tea oil.