View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
August 12, 2016updated 10 Apr 2021 5:41pm

Food market quotes of the week – Tyrrells on sale to Amplify Snack Brands, Flowers Foods faces challenges, Raisio CEO on Brexit

Tyrrells CEO David Milner emphasised how the sale of the UK crisp firm to US business Amplify Snack Brands would help both companies, Flowers Foods chief Allen Shiver explained why the US bakery group has cut its forecasts for annual sales and earnings and Raisio boss Matti Rihko outlined the impact of Brexit on the Finland-based owner of brands including Benecol.

By Dean Best

Tyrrells CEO David Milner emphasised how the sale of the UK crisp firm to US business Amplify Snack Brands would help both companies, Flowers Foods chief Allen Shiver explained why the US bakery group has cut its forecasts for annual sales and earnings and Raisio boss Matti Rihko outlined the impact of Brexit on the Finland-based owner of brands including Benecol.

“This partnership provides a significant opportunity to accelerate sales growth for Tyrrells’ brands in the United States, as well as the scope for Amplify’s brands in the international marketplace” – David Milner, the CEO of Tyrrells, believes the sale of the UK crisp maker to US group Amplify Snack Brands will benefit both businesses.

“Our revised guidance takes into consideration soft consumer demand in the bakery category, as well as heightened promotional activity in our industry” – Allen Shiver, Flowers Foods’ president and CEO, explains why the US baker has cut its forecasts for annual sales and earnings.

“The brand will offer a truly differentiated experience to the consumers and would help develop the lollipop category further” – Rohit Kapoor, marketing director for Perfetti Van Melle in India, announces the confectionery giant’s move to launch Chupa Chups in India.

“Our acquisition pipeline remains very active and we fully expect to complete several more accretive acquisitions this year” – Canadian food group Premium Brands Holdings is looking to make more acquisitions in 2016, according to chief executive George Paleologou.

“In the short term, Brexit affects particularly through exchange rates but the pound, even weakened, is still within its ten-year currency range. So it is essential to manage the company’s own operative business well. Long-term effects are difficult to predict and therefore, it is important to maintain the ability to be flexible in changing situations. In all scenarios, the UK will continue to be the second largest consumer market in Europe” – Raisio CEO Matti Rihko reflects on the immediate aftermath of Brexit as the Finland-based food group reports its results for the first half of 2016.

“We didn’t break any laws, we were open… we need to step back and look at the context of this” – in an interview with CNBC, Hampton Creek CEO Josh Tetrick hit back at claims the US eggless mayo maker used employees to support an undercover operation to buy hundreds of jars of flagship product Just Mayo while investors were sought to buy equity in the fledgling firm.

“I don’t think we have any competitors trying to do what we are trying to do. Although we would welcome anyone in because the organic market needs all the help it can get” – Organto CEO Peter Gianulis tells just-food the Canada-based group is looking to build a strong brand in the organic sector, something the industry lacks.

“Buying a site more than double the size of ours, right across the street from our factory in Lueneburg, will allow us not only to keep pace with this demand, but also to strengthen our leading market position in Germany and abroad” – Tofutown founder Bernd Drosihn explains why the German meat-free business has acquired a new plant.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food