This week, Bel struck a deal to buy a majority stake in fellow French group MOM Brands. Another French food major, Danone, faced criticism in the US over its plans for GMO ingredients. US snack maker Utz Quality Foods accepted the backing of investment firm Metropoulos & Co. Nestle’s third-quarter sales disappointed some in the investment community and we spoke to the director general of UK trade body the Food and Drink Federation about the impact Brexit could have on the sector.
“The labour force issue is really urgent and at the moment not solved” – Ian Wright, director general of UK trade body the Food and Drink Federation, says there are 130,000 EU employees in the workforce.
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“This transaction will allow Bel to create a major player in the healthy snacking globally” – the French cheese giant explains why it has moved to buy a majority stake snacks and desserts business MOM Brands.
“Your pledge would force farmers to abandon safe, sustainable farming practices that have enhanced farm productivity over the last 20 years while greatly reducing the carbon footprint of American agriculture” – US farm groups criticise Danone for plans to eliminate genetically-modified ingredients from its supply chain and claiming the move would improve the sustainability of its products.
“Nestle missed consensus expectations for the eleventh time in the last 17 quarters” – Sanford Bernstein analyst Andrew Wood on Nestle’s third-quarter sales.
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“As we got to know the Metropoulos team and talked with many who have worked with them previously, it became clear they were not your typical investment firm. In addition to being a true family-owned firm, their expertise in operations, brand expansion, innovation, growth and acquisition integration, combined with shared family values and a passion for heritage brands, made this opportunity very unique” – Utz Quality Foods president and CEO Dylan Lissette explains why the US snack maker has accepted investment from investment firm Metropoulos & Co.
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