Uncertainty surrounds PepsiCo at the moment, with rumours that some directors now want the US food and drink giant to examine whether to split the company in two – a move some analysts and investors demand. CEO Indra Nooyi is reported to be against such a move and is said to be lining up acquisitions to bolster the company. Elsewhere, Unilever again faced claims that it would look to offload more food brands and HJ Heinz said it would close more factories to deal with the “difficult” trading conditions in some markets, Click on the headlines for more.
Intrigue grows over PepsiCo’s future
The US food and drink giant is facing pressure to split in two – and there are rumours some of its directors want to examine the idea. CEO Indra Nooyi, however, is reported to be against the notion.
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GLOBAL: Heinz to close more factories
US food giant HJ Heinz plans to close more plants to adapt to what the ketchup maker described as “difficult” trading conditions.
BRAZIL: Pilgrim’s Pride problems hit owner JBS
Losses at US poultry producer Pilgrim’s Pride have helped cause majority shareholder JBS, the Brazilian meat giant, to report a third-quarter loss.
US: Wal-Mart posts slight profit drop, bumper sales in Q3
Wal-Mart Stores’ shares slid after it today (15 November) posted a third-quarter drop in operating income.
UK: Unilever likely to sell staple food brands – Fitch
Ratings agency Fitch has said it expects consumer goods group Unilever to offload individual food brands and focus on its fast-growing personal care business.
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By GlobalDataUK: Baxters buys canned pie brand Fray Bentos
Soup maker Baxters Food Group has snapped up Fray Bentos, the brand UK food and drink firm Princes had to offload to secure the purchase of Premier Foods plc’s canned food operations.
UK: Morrisons lines up GBP100m Christmas promo push
Morrisons, the UK’s fourth-largest grocer, is preparing to spend GBP100m (US$157.7m) on a promotional push over Christmas to lure in the country’s cash-strapped and deal-hungry consumers.
UPDATE: UK: Wiseman targets lactose intolerant with A2 Corp. JV
Robert Wiseman Dairies has today (14 November) established a joint venture company with milk firm A2 Corp.
Talking shop: Costcutter faces supermarket might
Bibby Line hailed the convenience retail sector as a “great opportunity” in the wake of its acquisition of major player Costcutter. However, can Costcutter stand up to the will and spending power of supermarkets, which have also recognised the opportunities c-stores offer? just-food explores the issue.
On the money: Cranswick quietly sizzles despite tough UK market
Analysts have commended UK pork supplier Cranswick’s first-half performance, especially in light of what one called a “demonstrably difficult” UK marketplace.
