This week, bakery business ARYZTA announced it was in talks to invest in French frozen food retailer Picard while the M&A rumour mill span with reports Mondelez International is considering selling its rights to the Philadelphia brand. Elsewhere, The Real Good Food Co. said it was exploring options for its under-performing sugar business Napier Brown. We also spoke to FrieslandCampina's EMEA boss, Maurits Klavert to get an update on how the company was performing in the region. Here is the week in quotes.
"The bulls will probably appreciate the investment in a leading, well-reputed company. However, for investors who started to see more transparency after the Origin divestment, that new stake will add to the scepticism" – Jean-Philippe Bertschy, an analyst at Bank Vontobel, after bakery giant Aryzta announces it is in exclusive talks to buy a stake in French frozen food retailer Picard.
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"The intention is to optimise and grow our brands and to focus resources – for example investments in marketing and innovation – appropriate to the needs of each business" – a spokesperson for Mondelez International refuses to comment on whether the company is planning a sale of its Philadelphia business – but admits it does "continually review the brands and products within our portfolio and their role in our business".
"In terms of potential, I think this part of the world has a lot more to offer. In terms of numbers it's not that high if you look at EMEA – the Middle East at the moment is not contributing as much as it could" – Maurits Klavert (pictured), FrieslandCampina's regional director for markets in Europe, the Middle East and Africa, says the region has much more to offer the business.
"A market participant who is not happy with cash prices available to it may not resort to manipulative trading strategies in an attempt to artificially lower that price" – The US Commodity Futures Trading Commission's director of enforcement, Aitan Goelman, reflects after the body charged Kraft Foods Group and Mondelez International with manipulating wheat futures and cash wheat prices.
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"Such a transaction, if successfully concluded, would enable the company to significantly strengthen its balance sheet and focus on more stable earnings growth going forward" – The Real Good Food Co. says it is weighing up the possibility of selling its poorly performing sugar business Napier Brown.
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