Kraft Foods’ surprise decision to split itself in two dominated the industry headlines this week. Elsewhere, there had also been speculation that Unilever could sell its food operations and Kraft’s move prompted discussions over whether PepsiCo could look to break up its businesses. The US also saw the latest food safety scare, with Cargill pulling millions of tonnes of meat over a possible link to a fatal salmonella outbreak. Click on the headlines for more.
Kraft stuns industry with split
Over a year since Kraft Foods acquired UK confectioner Cadbury, the US food giant has announced plans to divide itself in two – and create a North American grocery business and a global snacks maker. What prompted Kraft’s surprise decision? And could the likes of PepsiCo follow?
Go deeper with GlobalData
US: Cargill recalls turkey products amid salmonella scare
Cargill has recalled around 36m pounds of fresh and frozen ground turkey products as an investigation into a fatal salmonella outbreak in the US continues.
UK: Analysts speculate over future of Unilever’s food operations
Analysts have suggested that Unilever may look to sell its food division in order to fund acquisitions in the home and personal care sector.
On the money: Premier Foods H1 “poor by any measure” – CFO
The CFO of Premier Foods plc, Jim Smart, today (5 August) described the company’s first-half trading results today as being “poor by any measure”.
See Also:
INDIA: Danone to acquire Wockhardt Group’s nutrition arm
Danone has signed a deal to buy the nutrition unit of India’s Wockhardt Group, days after reports that the companies were in talks.
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