Ranjit Singh Boparan, the UK tycoon behind the 2 Sisters Food Group, this week added to his assets with the acquisition of embattled turkey processor Bernard Matthews. Elsewhere on our M&A pages, US group B&G Foods bought a clutch of local assets from Associated British Foods. Elsewhere in the US, Chobani revealed the first group of start-ups that will be assisted in the yogurt company’s “food incubator”. Meanwhile, we spoke to the president of Mondelez International’s business about in China about the company’s launch of European chocolate brand Milka. Click on the links for more.
“I don’t think there’s ever been a better time for food start-ups to make a difference in this country” – Chobani founder and CEO Hamdi Ulukaya (pictured) as the US yogurt maker announces the first batch of fledgling companies to join its “food incubator”.
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“Everyone’s going to benefit from our entry” – Stephen Maher, the president of Mondelez International’s business in China, talks to just-food about the snacks giant’s launch of European chocolate brand Milka in the country.
“We intend to respect and build on the 66-year heritage of a much-loved British brand and crucially help to deliver Christmas 2016, which would have been at risk without our intervention” – a spokesperson for Boparan Private Office, the private investment vehicle of 2 Sisters Food Group chief executive Ranjit Singh Boparan, on the acquisition of UK-based turkey processor Bernard Matthews in a pre-pack administration deal.
“This acquisition will significantly broaden our position in the large and growing spices and seasonings category, which we believe is very relevant to today’s consumer, who is looking for healthier options, simple ingredients and enhanced flavour” – B&G Foods president and CEO Bob Cantwell explains why the US group has snapped up assets from ACH Food Companies, a US subsidiary of Associated British Foods.
“The impact on small and medium-sized companies could be particularly devastating if this situation is not resolved in a timely manner” – a coalition of 120 US organisations representing sectors including manufacturing and retail raises concerns with the US Commerce Department over the bankruptcy of Hanjin Shipping.
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By GlobalData“Our net sales performance did not meet our expectations due to the challenging macro environment, a difficult year-over-year comparison, and a slower start to the year on certain businesses” – Ken Powell, General Mills’ chairman and CEO, reflects on the US group’s first-quarter sales.
“The investment will put the company in a better financial position and allow it to increase its exports” – in a joint statement, New Zealand’s associate minister for finance Paula Bennett and land information minister Louise Upston after the country’s regulators clear the acquisition of 50% in local meat processor Silver Fern Farms by China’s Shanghai Maling Aquarius, a subsidiary of Bright Food.
“With an established presence we also see the opportunity to broaden our customer base and in particular we are excited about the growth opportunity for sugar paste, as opposed to soft icing, as this market is largely underdeveloped across the Americas” – Pieter Totté, Real Good Food’s executive chairman, on the UK group’s decision set up a US-based subsidiary.
“Our results show that we continue to do what we said we would do right across the co-op” – Fonterra CEO Theo Spierings as the world’s largest dairy exporter reports annual results that include a jump in profits.
“In some cases, the appeal to values and humanity might well be more effective than the appeal to efficiency. It’s important not to undermine one or the other. You have this arsenal and the ability to use both of these to maximise impact on your employees” – Professor CB Bhattacharya, the Pietro Ferrero Chair in Sustainability at the European School of Management and Technology in Berlin, explains how food companies can drive employee engagement in sustainability programmes.
