Egypt has dominated headlines around the world this week and the political crisis has had an impact on the food sector, particularly on multinationals operating in the country. Within the industry, this week saw the start of the world’s largest food makers announce their 2010 results – Hershey, Unilever and Kellogg were among those reporting. And, today (4 February), Benecol maker Raisio made another push into the UK with the acquisition of cereal and confectionery maker Big Bear Group. Here are the highlights on just-food this week.
How Egypt’s unrest is affecting the food sector
The political crisis in Egypt is affecting the multinationals – from Kraft Foods to Carrefour – that operate in the country and is causing jitters on commodity markets.
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Comment: Resurgent Hershey still has much to ponder
Hershey cheered investors yesterday (2 February) with a set of strong 2010 numbers – but the US confectionery giant has much to ponder in 2011.
UPDATE: UK: Unilever’s Polk unfazed about commodity pressure
Unilever will increase its prices at a more “rapid rate” in 2011 as it continues to look to offset rising commodity costs, concerns over which hit the company’s share price yesterday (3 February).
On the money: Kellogg sees “difficult” Europe in 2011
Cereal giant Kellogg has said that Europe will continue to be the “most difficult” region for the firm in the year ahead.
In the spotlight: Big Bear a “good fit” for Raisio
The announcement this morning that Raisio has purchased UK-based Big Bear Group, owner of brands like Sugar Puffs cereals, comes as no surprise, given that the deal has been rumoured for some time.
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