In major news this week Premier Foods plc, the UK group, rejected two approaches from US spice maker McCormick & Co. – and announced plans for a tie-up with Nissin Food Holdings that will see the Japanese company take a 17% share in the Mr Kipling owner. Elsewhere, Arla Foods announced a US joint venture with Dairy Farmers of America and just-food reported live from the Consumer Analyst Group of Europe (CAGE) event. Here is the week in quotes.
“By gaining a strategic investor who understands and supports our growth ambitions, we have an exceptional opportunity to deliver shareholder value. Based on the conditional cooperation agreement we announced yesterday, we very much look forward to working with Nissin to develop ways our two businesses can co-operate to drive growth” – Premier Foods chairman David Beever comments on the latest company development which sees it accept an offer from Nissin Foods Holdings for a 17% stake in the business, after turning down two takeover approaches from US spice maker McCormick & Co.
“Adding cheddar to our US portfolio will make us more attractive to the retailers and help increase the sales of our European products made from owner milk” – Peder Tuborgh, CEO of Arla Foods, on the announcement of a joint venture with Dairy Farmers of America that focuses on cheddar cheese production.
“From our point of view, we want to continue to work on our food. One, to make sure it’s the best-tasting product that appeals to the customer. But we want to also do it in a way that if we could take out some of those ingredients are viewed in society as being not so good for you – you’re not going to do without sugar, or salt or fat – but there’s an element [of] balancing a diet. We play a small part of it and we’re going to participate in society how ever society brings those nutritional elements to life, whether it’s menu labelling, whether it’s the way ingredients are controlled” – Doug Goare, the president of a group of countries McDonald’s calls its “lead markets”, comments on the company’s view of national sugar taxes.
“The clarity of Pinnacle’s strategy, combined with the strength of both its leadership team and board of directors, gives me confidence in our ability to deliver attractive shareholder returns, including our expectation for another strong year in 2016” – Pinnacle Foods chairman Roger Deromedi stresses the US company is well-positioned to deliver a strong performance in the coming year despite the announcement of its resignation Bob Gamgort who is to take over as CEO at Keurig Green Mountain.
“Transparency is more than just a label, and we have invested in many ways to make it easy for consumers to find information about our food. As always, consumers are at the heart of all we do, and we will continue to explore ways to meet their changing wants and needs, and earn their trust each and every day” – Paul Norman, president of Kellogg’s operations in North America, comments as Kellogg becomes one of a pool of multinationals to pledge to start labelling products on sale in the US that contain genetically modified ingredients.
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“Today, with Saboro, we are taking another important step in our journey to become a complete value chain player. Our stringent systems and processes have resulted in products that stand out in the market in terms of quality. With our launch today, we are confident that Saboro will establish itself as a premium brand for milk in India in the near future” – Dr. Pawan Goenka, executive director at Indian conglomerate Mahindra, on the firm’s launch of Saboro milk which marks its debut in the dairy industry.
“By operating our own plant and working directly with the dairy supply chain in the Midwest, we’ll further reduce operating costs and pass those savings on to our customers so that they can save money. This facility is an example of how we are always finding efficiencies within the supply chain to deliver everyday low prices and high quality groceries” – Tony Airoso, senior vice president of sourcing strategy for Walmart in the US, comments on the retailer’s move to open a milk processing plant in Indiana.
“As a leading player in a number of significant international markets, we are impacted – positively and negatively – by world macroeconomic trends, and continue to evaluate our business on a long term perspective that has delivered substantial value to the group over the past decade. Strauss continues to implement its global growth strategy and will continue to invest in innovation and efficiencies throughout the value chain, across the group and its geographic markets” – Gadi Lesin, CEO of Strauss Group, says the Israeli firm will continue to expand internationally and invest in innovation and efficiencies, after the group booked a fall in earnings for the year.
“There is more attention [in the free-from space]. There are some new companies that have come out… there’s a lot more regional brands that have come out. Everyone has something new” – Boulder Brands vice president and GM of sales Wendy Acheson says a challenge for the company is the rise of companies investing in the gluten-free space resulting in pressure on volumes and pricing as a result.
“Our aspiration is to build a blue-chip portfolio of high-growth emerging brands that will continue to grow and then also provide in some cases great new growth opportunities via acquisition for General Mills. I think the long-term objective I guess is for us to think about 301 as an incubation and innovation capability for General Mills to help drive and shape our future growth portfolio” – John Haugen, vice president and general manager of General Mills’ investment arm 301 Inc., talks about what what will determine success of the unit.