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.
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“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.
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“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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