United Biscuits is set for a new owner – Turkey’s Yildiz Holding. The UK-based snacks maker announced this week brands including McVitie’s and BN would join Godiva chocolate in the Yildiz portfolio. The M&A spotlight was firmly on the UK, with German giant Müller striking a deal to buy Dairy Crest’s liquid milk assets – competition approval pending. Click on the links for more.
United Biscuits sold to Yildiz Holding
United Biscuits’ private-equity owners, Blackstone Group and PAI Partners, have agreed to sell the UK biscuit maker to Turkey’s Yildiz Holding, the owner of chocolate brand Godiva.
Dairy Crest to sell dairies division to Muller
Dairy Crest is to sell its dairies division – including the Frijj brand – to German giant Müller for GBP80m (US$127.8m).
Click here to see why the deal – if approved – will make Dairy Crest a more attractive takeover target.
French watchdog to probe retail buying pacts
The French competition authorities announced two distinct lines of inquiry into the planned purchasing partnerships between Casino and Intermarche and between Auchan and Systeme U.
General Mills cuts sales, earnings forecasts
General Mills has lowered its forecasts for annual sales and earnings, blaming “continued weak food industry trends” in the US and “slowing growth” in key emerging markets.
On the money: Cost-cutting regime paying off for Mondelez
Mondelez International’s work on costs looks to be paying off with the snacks giant seeing its margins improve and lifting its forecast for annual earnings this week. The Cadbury owner is seeing some pressure on sales – particularly in Europe – after lifting prices to offset higher commodity costs but analysts are generally upbeat about the US group’s prospects.
On the money: Why analysts are looking beyond 2014 at Snyder’s-Lance
Shares in Snyder’s-Lance fell after the US snack group’s third-quarter results missed Wall Street’s expectations and the company revised its 2014 forecasts. However, analysts, looking into next year and beyond, believe the prospects look bright for the business.
Irish Dairy Board launches liquid milk brand in China
The Irish Dairy Board is to launch a liquid milk product into China under its Kerrygold brand.
BRF cools Americana, Doux talk
BRF has moved to cool market rumours the company is looking to buy Kuwait Food Co. – known as Americana – or French poultry group Doux.
Interview: Kikkoman innovating to stay ahead in changing markets
Like many Japanese food majors, soy sauce and seasonings group Kikkoman Corp. is battling an ageing domestic population. However, through innovation, Kikkoman is looking to meet changing consumer demand at home, while looking to expand further overseas. Julian Ryall met Kikkoman president and CEO Noriaki Horikiri to discuss the company’s plans.
CEO exits as Silver Fern Farms presses forward with restructure
The CEO of Silver Fern Farms, Keith Cooper, is to step down from his position as the New Zealand-based meat processor continues its restructuring.