This week, PepsiCo reported on its second quarter numbers and its conference call detailed its plans to prepare for a tough second half to the year. Elsewhere Hostess Brands' owners insisted they were not looking for an IPO or a sale at present.
"Number one … we are certainly facing more of an uphill for growth in the back half of the growth. Number two … commodities are more of a headwind in the back half of the year than they were in the first half of the year. And number three, certainly based on what we are seeing in the news these days, the world remains a very volatile place" – PepsiCo CFO Hugh Johnston surveys the outlook for the company.
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"At this time it is premature to consider either alternative. Hostess has experienced a tremendous turn around in the past two years and we are excited to continue to build upon the strong growth of these iconic American brands" – a spokesperson for Hostess Brands owner C. Dean Metropoulos & Co. said it and fellow investor Apollo Global Management have "received proposals" for a sale and an IPO but is not considering either alternative at present.
"Existing laws regarding food adulteration are incapable of punishing the offenders who contribute to the menace of rising food adulteration by their wrongful acts and also the existing laws and guidelines are insufficient to control the problem of adulteration of food" – The Supreme Court of India has insisted that federal and state food regulators need to be tougher on food adulteration.
"For years, despite repeated warnings from the Centers for Disease Control and Prevention USDA, Foster Farms refused to recall or even warn the public about its contaminated chicken while that chicken was poisoning hundreds of consumers. This litigation will examine those decisions and hold Foster Farms accountable for its egregious behaviour" – a lawsuit against Foster Farms alleges it knowingly sold salmonella tainted chicken "for years" ignoring health warnings from health officials.
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"We are already seeing the consequences of climate change. Food production will come under increased pressure in the future. This is why Europe’s food and drink manufacturers are actively working to try to mitigate and adapt to climate change" – Pascal Gréverath, assistant VP of environmental sustainability at Nestle and chair of FoodDrinkEurope’s environmental sustainability committee comments as FoodDrinkEurope call on governments to reach an "ambitious agreement" on climate change.
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By GlobalData"On top of exciting organic growth initiatives within Iglo, the company has a pipeline of potential strategic and complementary acquisitions intended to enhance its product offering and deepen its market leadership. The company believes that this placing will provide it with additional funding capacity, enabling it to capitalise upon its scale and financial strength to drive future growth and returns," – Nomad Foods, the UK-listed holding company that recently acquired frozen food giant Iglo Group, plans to sell shares in the business to generate funds for more acquisitions.
"Tyson Foods is literally torturing chickens to death. They are crammed into filthy, windowless sheds, thrown, kicked, and brutalised by careless workers, and bred to grow so fast they suffer from painful leg deformities and heart attacks. This is sickening animal abuse no company with morals should support" – Nathan Runkle, Mercy for Animals President responds to a video which allegedly "reveals widespread animal abuse and suffering" at a Tyson Foods contract chicken farm.
"One of the challenges, in such a competitive market, is maintaining and increasing efficiencies to drive cost-reduction. Even in northern Tasmania, we have to realise that we are competing in a global commodities market" – John Jackson, agriculture director for McCain's business in Australia and New Zealand, comments in the wake of an A$10m investment at a plant in northern Tasmania and says the investment will increase efficiencies and make the plant more sustainable.
"The dynamics of the modern food industry hold no secrets for Francis. He is well versed in confronting the challenges of handling fresh products and has extensive experience in maintaining good relations with suppliers, clients and producers worldwide" – Vion chair Sipko Schat on the appointment of ex-Greenyard Foods COO, Francis Kint, as its new CEO.
"This process will not be easy, but we have to face some tough decisions and we believe the proposals, outlined today, could deliver a significantly more sustainable manufacturing footprint than other potential consolidation options" – Young's Seafood CEO Pete Ward comments as the firm outlines over 900 jobs could go in plans to close two processing sites in Scotland.
