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January 30, 2015

Food industry news of the week: MOM Brands, Krave jerky

In the first of the week's big deals, Post announced the acquisition of MOM brands, a fellow US breakfast cereal manufacturer. Post said the buy would cement its position as the third-largest cereal maker in the US.

By Dean Best

In the first of the week’s big deals, Post announced the acquisition of  fellow US breakfast cereal manufacturer MOM brands for US$1.15bn. Post said the buy would cement its position as the third-largest cereal maker in the US.

Click here to read our analysis on why Post has move for its US cereal rival.

Hershey to acquire meat jerky firm Krave
US confectioner Hershey has confirmed it is to acquire premium jerky firm Krave Pure Foods.

Crisp maker Sibell acquires Spain’s Celigueta
French crisp maker Sibell has acquired Spanish counterpart, Celigüeta and its production plant in Victoria for an undisclosed sum.

Up & Go breakfast drinks set for UK launch
Australian breakfast drink brand Up & Go is to be launched in the UK.

Briefing: Emerging market e-commerce: Online can build despite Russia’s challenges
High demand for home grocery deliveries in large Russian cities and the success of such services in Western countries are helping create a buzz around online grocery retailing in Russia. But the complexity and high cost of operating this model in Russia means few retailers have so far launched online sales channels. Online grocery stores that do exist tend to limit their deliveries to Moscow or St Petersburg, and emphasise their offline locations.

Campbell aligns structure with growth objectives
Campbell Soup Co. is reorganising its business into three divisions the US group says reflect its strategic growth priorities.

Tyson hails “great” Q1 as sales, earnings rise

Tyson said it made a “great start to the year, as sales and earnings rose in the wake of its acquisition of Hillshire Brands.

Hershey Q4 sales miss analyst expectations

On the contrary, Hershey reported lacklustre sales for the fourth quarter which missed analyst expectations, sending shares sliding.

Yildiz prepares to list dairy arm AK Gida

Turkish owner of United Biscuits has confirmed plans to list its local dairy subsidiary, AK Gida.

San Miguel to buy out Hormel from Vietnam JV

Hormel Foods has confirmed its exit from Vietnam with the sale of its 49% stake in a joint venture owned with San Miguel. The company hinted at the possible sale last year saying the venture had “not delivered the results we expect from our international investments”.

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