This week Mondelez International and Hershey both reported first-quarter results. Nestle announced its ice cream joint venture with R&R Ice Cream and Murray Goulburn CEO MD Gary Helou stepped down from his position as the Australian dairy co-op once again lowered its forecast for full-year earnings.
“We’ve had a good start to the year. We significantly expanded margins by continuing to reduce supply chain and overhead costs. In addition, we delivered improved volume/mix in developed markets, while effectively managing through the volatile operating environment in emerging markets. As a result, we’re confident in our ability to deliver our 2016 outlook that we shared in February”- Mondelez International’s chairman and CEO, Irene Rosenfeld, says the firm remains confident it can deliver against its full year target, despite a drop in first quarter profits.
“Froneri will capitalise on complementary strengths and innovation expertise, combining Nestle’s strong and successful brands and experience in out-of-home distribution with R&R’s competitive manufacturing model and significant presence in retail” – Nestle CEO Paul Bulcke says the new ice-cream joint venture with R&R Ice Cream is an “exciting growth opportunity”.
“We believe in an emerging middle class. We believe in urbanisation. We think these are markets that, over time, we want to be in. So from a quarter-to-quarter basis, it may be tough to make some of those strategic decisions. If we execute well, results come. And we’ll be able to then do the things that we do well and grow our brands in the market and grow with the category and overcome some of these, what I would believe are more short-term challenges” – Reflecting on China, Hershey CEO J.P Bilbrey says the group is committed to the market despite another sales fall in the market.
“Mark’s strong operating background and proven track record of success, combined with his broad experience in both the North American market and more entrepreneurial developing market businesses, make him the ideal candidate to lead Pinnacle and drive the continued success of our business model and strategy” – Pinnacle Foods chairman Roger Deromedi comments on the US group’s appointment of Mondelez executive Mark Clouse to the position of CEO.
“This acquisition is a great addition to our Hershey chocolate portfolio and enables us to expand our mass premium offerings into this growing and on-trend category. BarkThins has quickly become a favourite snack brand due to its commitment to using simple ingredients, fair trade cocoa, non-GMO certification, and no artificial flavours or preservatives. BarkThins addresses key consumer trends, such as premium, high-quality ingredients and snacking” – Michele Buck, the president of Hershey’s business in North America, comments on the group’s latest acquisition of up Ripple Brand Collective, the US firm behind the BarkThins snack brand.
“During my time at MG, we have transformed the company’s capabilities and capacity and in the process delivered two consecutive years of premium milk prices for Australian farmers. While maintaining this price has proven to be difficult in current market conditions, I firmly believe MG has the foundations in place to support a strong and successful business in the years ahead” – Murray Goulburn MD Gary Helou announced his exit from the company the same day the firm announced it was again lowering its forecasts for annual profits.
“The return of these classic favourite biscuits to Fazer’s portfolio offers us excellent opportunities. We constantly develop our offering based on changing consumer needs. For example, snacking is an important new area for us where biscuits are in a key position” – Rolf Ladau, MD of Fazer Group’s confectionery arm, comments on the company’s acquisition of Mondelez International’s Domino, Jaffa and Fanipala biscuit brands.
“Our ambition is to produce healthy food that is affordable, creates economic and social value and nurtures natural ecosystems through sustainable agriculture. Although our journey is independent from that of our organic sister companies, we have learned a lot from and are inspired by Stonyfield and Happy Family” – Mariano Lozano, president and CEO of The Dannon Co., Danone’s US arm, on the group’s plans to simplify its ingredients list and follow sustainable agriculture practices for the unit.
“The transaction is in line with BRF’s strategic plan for globalising the company, accessing local markets, strengthening BRF’s brands, distribution and expansion of its product portfolio around the globe” – BRF announces plans to take full control of Oman’s Al Khan Foodstuff.
“Fyffes remains confident about its future prospects, including the performance of its new mushroom business, and continues to focus on its ongoing development with a view to increasing shareholder value,” the company said” – Produce group Fyffes announces it is raising its full-year outlook to reflect the expected contribution of recently acquired business Highline Produce.