China this week set out plans to reform its agri-food sector, includiing working on food safety, the supply chain and expanding production. Elsewhere, Ireland’s Glanbia snapped two nutrition-focused businesses and Mondelez International‘s 2016 results prompted questions about the effectiveness of margin targets.
China sets out plan to reform agri-food sector
China has issued a five-year reform programme for the country’s food and agriculture industry, with its goals including improving food safety, making supply chains more efficient and increasing the amount of land used for food production.
Glanbia expands performance nutrition with Grass Advantage, Body & Fit deals
Irish food maker Glanbia has entered into two deals to expand its performance nutrition business, with the acquisitions of Grass Advantage in the US and Body & Fit in the Netherlands.
Mondelez hails margin progress as 2016 sales, earnings fall
Mondelez International booked lower sales and earnings in 2016 but insisted it continues to make progress towards its margin expansion goals.
(Story includes comparative data charts over three years).
Is Mondelez’s margin target hurting sales? – analysis
Tyson Foods shares slide on subpoena disclosure
Shares in Tyson Foods tumbled today (6 February) after the US meat giant revealed it had received a subpoena from the US Securities and Exchange Commission.
UK turkey group Bernard Matthews eyes job cuts
UK turkey processor Bernard Matthews could be set to cut 150 jobs in a bid to make the business “fit for future growth”.
French food group Agromousquetaires eyes UK private-label market
France-based supplier Agromousquetaires is preparing for a move into the UK private-label market in a bid to increase sales and expand product development overseas.
How French own-label group Agromousquetaires aims to grow – interview with CEO Christophe Bonno
HKScan plans shake-up and job cuts after “weak” full-year performance
Meat processor HKScan today (8 February) announced plans for job cuts and a review of the group’s operating model to “improve profitability and competitiveness” after a “weak” performance led to a sharp drop in operating profit for 2016.
Food Union eyes China after EUR214m capital injection
Food Union, a group of dairy and ice cream companies operating in northern Europe and Latvia, has received investment from PAG, one of Asia’s largest private-equity firms, and US fund Meridian Capital in order to facilitate growth in China.
Reckitt Benckiser inks Mead Johnson deal
Reckitt Benckiser has signed a merger agreement with Mead Johnson to take control of the business for US$90 per share.