Premier Foods, the UK group, this week surprised the market with a profit warning, sparking a slide in its shares and criticism in the City. Mondelez International announced its latest disposal, with Australian dairy Bega Cheese buying a clutch of brands including Vegemite. And possible IPOs grabbed the headlines, with UK own-label supplier Bakkavor rumoured to be mulling plans for a listing and Brazilian meat giant BRF confirming it is considering offering shares in halal arm OneFoods.
Premier Foods issues profit warning
Premier Foods plc, the UK group behind brands including Mr Kipling cakes and Ambrosia custard, today (18 January) warned annual profits could be 10% lower than it expected, in part due to its struggles in passing on Brexit-linked cost increases.
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Mondelez sells Vegemite, Australian grocery brands to Bega Cheese
Mondelez International has sold a clutch of its Australian and New Zealand grocery brands, including the spread business Vegemite, to Bega Cheese for AUD460m (US$346m).
UK’s Bakkavor plays down IPO “speculation”
UK-based private-label supplier Bakkavor has declined to comment on reports it is preparing to float the company.
Nestle mum on Mead Johnson takeover talk
Nestle has refused to comment on a report in the US claiming the world’s largest food maker is considering a takeover offer for infant formula producer Mead Johnson.
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Kellogg to slash 250 jobs
US cereal-to-snack group Kellogg has confirmed it plans to eliminate 250 positions at its operations in North America.
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By GlobalDataEmmi to buy dessert maker Italian Fresh Foods
Swiss dairy giant Emmi said today (18 January) it had signed an agreement to buy Italian dessert manufacturer Italian Fresh Foods (IFF) for an undisclosed sum.
Cloetta admits Italy arm could be sold
Cloetta, today (18 January) said it may sell its business in Italy, a market where the Sweden-based confectionery group has struggled to grow sales in recent years.
BRF confirms eyeing OneFoods IPO
Brazil-based meat giant BRF has confirmed it is weighing up a possible listing of its newly-established halal foods division OneFoods.
Ebro buys Spanish organic food firm Vegetalia
Spain-based group Ebro Foods has snapped up local organic business Vegetalia.
Danone aims to double India business by 2020
Danone has told just-food it aims to double the size of its business in India over the next three years, boosted by new products and by exports from its operations in the country.
