Philippines group Monde Nissin was this week named as the buyer of Quorn Foods, agreeing a deal that valued the UK meat-free business at GBP550m. ConAgra Foods, under-pressure from changing consumer trends in the US, outlined its plan to revitalise the group, with 1,500 jobs to go as part of the process. And just-food interviewed seafood giant Thai Union Group about its sustainability programmes.
"Monde Nissin have been investing in on-trend, better-for-you products internationally in line with our strategy to become a global diversified food company. Quorn represents an important new leg in our offering" – Henry Soesanto, the CEO of Philippines group Monde Nissin, explains why the company moved for the UK-based meat-free business.
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"We have an ambition to be the world leader in meat alternatives, ultimately creating a US$1bn business. Monde Nissin Corporation’s purchase represents a great step forwards in this ambition; they share our belief in the potential of Quorn, and provide capability to expand the brand into Asia" – Quorn CEO Kevin Brennan outlines the benefits he sees from Monde Nissin's takeover.
"Today’s announcements are important milestones as we continue to execute against our strategic plan to build a focused, higher-margin, more contemporary and higher-performing company" – ConAgra Foods president and CEO Sean Connolly speaks after the company outlines plans for higher productivity and profits – and for cuts to 1,500 jobs.
"The agreement has been breached by the KSF by sourcing supplies from an alternate supplier" – Indian food group Kohinoor Foods Limited claims its venture with McCormick & Co. – Kohinoor Speciality Foods – has broken their contract over rice supplies.
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"We think that our portfolio range needs to be expanded. We don't think we have the kind of range that's ideal for where we want to take the company over time" – Diamond Foods CEO Brian Driscoll indicates the US snacks group is ready for M&A – but could the Kettle Chips owner itself be a target?
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By GlobalData"Our vision at SCI-MX is to become a household name for healthy, high protein, convenient snacking" – Trayl Wallace, the managing director at SCI-MX, explains why the UK sports nutrition has sold itself to Samworth Brothers, the local private-label supplier and owner of Ginsters pasties and Soreen malt loaves.
"The NGOs and the media have played a very valuable role in exposing practices that the industry needs to take more attention of but I suspect now that we are aware of the issues, the industry is starting to change it would also be nice to work with some of the more solutions-focused NGOs, those who can see that there is room to change and we can work together to have more positive outcomes than if we're constantly at odds" – Dr Darian McBain, group director of sustainable development at seafood giant Thai Union Group, asserts companies and campaign groups must work together to achieve progress.
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