Mondelez International kicked off the week by ending its interest in Hershey – and immediately some on Wall Street suggested the Cadbury maker could become a takeover target itself. Elsewhere, Campbell Soup Co. CEO Denise Morrison provided a rare instance of candour from a chief executive by admitting she was displeased with the US group’s recent performance. And South Africa’s RCL Foods issued a warning about trading conditions in the country’s poultry sector. Click on the links for more.
“I am not pleased with the results of our fourth quarter” – Campbell Soup Co. chairman and CEO Denise Morrison admits she is dissatisfied with the US group’s performance in its most-recent quarter.
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“In the end, we think Mondelez will just run out of time and will be taken over – by Kraft Heinz” – US equity analyst Pablo Zuanic believes the Cadbury owner, which this week announced the end of its interest in Hershey, could end up being taken over itself.
“RCL Foods believes that the local poultry industry is in a crisis. As a consequence, the board is forced to re-look at all options in evaluating our chicken business model” – the South African group this week reported a fall in annual earnings, with challenges in the country’s poultry sector a key factor.
“The milk prices have bottomed out. In the second half year of 2016, worldwide supply of milk is expected to decrease compared to the first half year. Demand for dairy products is expected to only show a modest increase over the second half year of 2016” – Dutch dairy giant FrieslandCampina issues its outlook for demand and supply in the sector after reporting a fall in first-half profits.
“Far superior related to the economic environment and to our principal competitors in the co-operative sector whose business profile is similar to ours” – how a Lactalis spokesperson describes the French dairy group’s agreement with farmers, struck this week, on the price it pays for milk.
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By GlobalData“Francis brings with him extensive experience from the meat industry and of restructuring and turning around manufacturing companies” – Danish Crown explains why it has appointed former Vion Food Group executive Steve Francis as CEO of embattled UK arm Tulip.
“This is a great opportunity space for animal producers. Just look at how the dairy category has shifted over the last ten years to where people are now saying you’d be foolish to be a dairy company without a plant-based portfolio” – as Tyson Foods faces investor pressure over parts of its strategy, Simon Billing of UK think tank Forum for the Future says meat processors should take a leaf out of the book of their dairy peers and look at investing in plant protein.
“This addition to our branded portfolio provides us with another better-for-you option in a growth snacking category in the European markets” – Carl Lee Jr., the president and CEO of Snyder’s-Lance, on the US group’s move to buy full control of UK popcorn maker Metcalfe’s Skinny.
“We are convinced that the popularity of pulled oats will only increase. We are very excited that the founders of Gold & Green Foods want to build the future together with us” – Jaana Tuominen, the CEO of Paulig Group, insists there is a bright future for pulled oats as an alternative to meat after the Finnish food and beverage business bought a controlling stake in start-up Gold & Green.
“Lion is particularly concerned about the A2 Milk companies’ broad marketing claims that suggest that consuming regular dairy milk can have adverse health consequences compared to A2 milk. At Lion we believe all regular dairy milk is good for you” – a spokesperson for Lion Pty Ltd explains why the Australian dairy group has issued a counter claim in its advertising spat with New Zealand-based A2 Milk Co.
