Food industry news of the week - Nestle disappoints analysts, Fox's and Philadelphia sale talk, CAGNY conference - Just Food
Join Our Newsletter - Get important industry news and analysis sent to your inbox – sign up to our e-Newsletter here

Food industry news of the week – Nestle disappoints analysts, Fox’s and Philadelphia sale talk, CAGNY conference

19 Feb 2016

The results for 2015 continued to come in this week, with Nestle and Arla Foods among the companies publishing their performance. There was fresh speculation in the UK over the future of the Fox’s and Philadelphia brands. And, in the US, a key date in the industry calendar, the Consumer Analyst Group of New York conference, took place in Florida, with a number of the major names in the sector outlining how they are navigating a sector going through a period of profound change. Click on the headlines for the stories in full.

Nestle’s 2015 results and 2016 outlook – what the analysts say

Nestle’s shares fell yesterday (18 February) after the world’s largest food maker missed analyst expectations on sales and trading operating profit – and disappointed with its guidance for this year. The company’s so-called Nestle Model calls for annual sales to grow 5% on an organic basis but the company fell short of that target again in 2015. The group’s forecast for 2016 sales was also lower than its “model”, although some in the analyst community viewed the target for this year as more realistic. Broadly, however, Nestle’s forecasts for 2016 were below what analysts had expected. Here’s a flavour of how analysts have viewed the KitKat-to-Maggi owner’s numbers.

Boparan Holdings in early talks to sell Fox’s to Burton’s Biscuit Co.’ – report

Boparan Holdings has reportedly started talks with fellow UK group Burton’s Biscuit Co. over the possible sale of Fox’s Biscuits.

Mondelez International ‘plans to kick off Philadelphia sale in March’

Mondelez International reportedly expects to start the sale of its European grocery business, including the Philadelphia cream cheese brand, next month.

Campbell Soup Co. to invest in start-ups – CAGNY

Campbell Soup Co. has detailed plans to launch an investment vehicle that will support the development of high-growth start-up food companies.

Mondelez International eyes more work on trade spend – CAGNY

Mondelez International plans to look at how it spends money with retail partners in more markets after seeing moves to “optimise” expenditure in countries including Germany and India pay off.

For our full coverage of this week’s Consumer Analyst Group of New York conference, featuring Kellogg, Campbell, General Mills and more, click here.

Willi-Food securities probe sees chairman Gregory Gurtovoy detained

Israeli food group G. Willi-Food has said it has been accused of breaching domestic “securities laws” and unspecified “criminal offences” as part of a probe that has seen the group’s chairman and controlling shareholder Gregory Gurtovoy detained by the authorities.

EU, Mexico open talks over trade in organic products

The EU and Mexico have announced talks to deepen their already close trading relationship by negotiating a bilateral agreement on importing and exporting organic products.

Arla claims “robust” 2015 as sales, profits slide

Arla Foods reported lower sales and earnings for 2015 in what the group termed a “robust” performance against difficult conditions for the global dairy sector. 

TasFoods in deal to buy Australian peer Nichols Poultry

TasFoods, the newly-formed Australian food group, has struck its second deal in a matter of months, moving to buy local processor Nichols Poultry.

Sligro Food Group acquires Java Foodservice

Belgian-based retailer Sligro Food Group is expanding its drive into the foodservice sector with the acquisition of the entire share capital of Bejaco and its subsidiaries Java and Freshtrans, jointly known as Java Foodservice, from the Claes family.