ConAgra Foods said that it will sell its private brands business after reporting losses. We asked whether General Mills' plans to turn around US sales will work and took a detailed look at what Grexit would mean for the food industry in Greece. Here are this week's highlights on just-food.
On the money: ConAgra private-label exit is about growth
ConAgra Foods announced that it will sell off its loss-making private label business yesterday (30 June) in a move that, the company said, will help unlock value for its shareholders. But selling off private brands is about more than offloading an asset that is a challenging turnaround story. New CEO Sean Connolly insists it is about putting ConAgra back on the road to growth. Katy Askew reports.
JBS acquires Cargill's US pork unit
Brazilian meat group JBS has entered an agreement to acquire Cargill's US pork business in a deal worth US$1.45bn.
Sodiaal's Candia signs China JV
French milk producer Candia, part of the dairy co-operative Sodiaal, is to set up its first joint venture in China as part of plans to broaden its reach in the country.
UPDATE: Ebro sees sandwich boost from Roland Monterrat buy
Ebro Foods has said the acquisition of French sandwich firm Roland Monterrat will help it get ahead in a category in which it is struggling to grow market share.
McCormick bucks peers with growth in China
McCormick & Co. has reported growth from its consumer-facing business in China, a market where a number of its peers have stuttered in recent quarters.
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By GlobalDataNorth Castle acquires controlling stake in Sprout Organic Foods
Investment firm North Castle Partners has acquired a controlling interest in Sprout Organic Foods, a developer, marketer and distributor of premium organic foods.
On the money: Can General Mills improve US sales through innovation?
General Mills has been hit by category softness and changing consumer preferences at its US business. With US retail sales representing the group's largest revenue stream, this has weighed on the group's overall results and addressing these issues is a priority for the Cheerios maker. But are General Mills' product innovation and renovation plans enough to get the top line moving in the US? Katy Askew investigates.
In the Spotlight: What a Grexit could mean for the food industry
This Sunday, Greece will decide whether it accepts a proposal from its creditors following the breakdown of negotiations over its EU1.6bn debt repayment with the International Monetary Fund. If voters reject the proposal, Greece risks exiting Eurozone. Concerns over what this will mean for the food industry are rife and food manufacturers have started taking measures to prepare for the worst.
just-food's pick: 10 on-trend products at Summer Fancy Food Show
The Summer Fancy Food show, staged by the Specialty Food Association, was held at the Javits Center in New York this week (28-30 June). With consumer interest in premium and speciality foods at an all time high in the US, the largest speciality food show in North America attracted – as you might expect – a considerable amount of interest.
Kellogg eyes trends with product launches
US cereal group Kellogg aims to tap into what it said were the "hottest trends" in the US with the launch of more than 40 products.