M&A grabbed the spotlight again this week, with Grupo Bimbo acquiring Sara Lee’s bakery business in the US and Emmi buying the Onken yoghurt brand from Dr Oetker. Elsewhere, questions were raised about Dean Foods’ ability to hold onto all of its divisions after a challenging year. In retail, meanwhile, major UK grocers Marks and Spencer and Sainsbury’s revealed renewed international ambitions.
UPDATE: MEXICO: Grupo Bimbo hails “milestone” Sara Lee deal
The chief executive of Grupo Bimbo said today (9 November) that the company’s acquisition of Sara Lee’s fresh bakery business in North America represented a “milestone” for the Mexican food giant.
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Comment: Emmi’s shrewd move for Onken yoghurt
In April, speaking to just-food after Emmi announced plans to buy Swiss cheese maker Fromalp, the dairy giant’s CFO Reto Conrad hinted that the company would make more acquisitions in Europe this year.
On the money: Dean Foods faces questions on possible disposals
Dean Foods, the US dairy giant, has faced questions on whether it will sell off parts of its business to improve the business after a challenging year.
US: Campbell Soup Co. issues profit warning
US food group Campbell Soup Co. today (10 November) cut its full-year profit targets after a weak first quarter when its promotions did not pay off.
On the money: Commodity pressure “a mixed bag” for ABF
Spiralling commodity costs is proving a “mixed bag” for Associated British Foods, the UK’s group’s CFO has told just-food, with parts of the business benefiting from higher prices and other divisions facing pressure.
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By GlobalDataOn the money: M&S’s Bolland goes beyond “evolution not revolution”
Marks and Spencer chief executive Marc Bolland today (9 November) stepped beyond his mantra of “evolution not revolution” to reveal a series of significant changes for the UK retailer.
On the money: Sainsbury’s looks to emerging markets
Sainsbury’s is to investigate entering India as it looks to emerging markets to expand beyond the UK.
FRANCE: Danone silent on water sale talks
Danone has remained tight-lipped on a report that it has entered talks to sell its water business, but analysts believe a deal could make sense for the group.
UK: Cheese profits, branded sales drive Dairy Crest
Improved profits from cheese and higher sales of brands has boosted half-year earnings at UK dairy group Dairy Crest.
Brics and beyond: East benefits from the global economy’s shifting sands
Of all the media coverage of this economic crisis, one line has stuck in my mind more than any other, and it perfectly sums up the shifting global economic axis. “This isn’t a global recession, it’s a Western recession.”
