This week saw the first high-profile sign of Brexit affecting food company costs with a row between Unilever and Tesco over the supplier’s request for 10% price hike. Our M&A pages were busy, with Tyson Foods investing in faux meat business Beyond Meat, Europe Snacks merging with fellow private-label snacks business Kolak Snack Foods and Kellogg snapping up Brazil’s Parati Group.
“Unilever is pleased to confirm that the supply situation with Tesco in the UK and Ireland has now been successfully resolved. We have been working together closely to reach this resolution and ensure our much-loved brands are once again fully available. For all those that missed us, thanks for all the love” – the FMCG giant announces its dispute with Tesco over its request for a price hike had come to an end.
“This investment by Tyson Foods underscores the growing market for plant protein” – Ethan Brown, the founder and CEO of US meat-alternatives business Beyond Meat, on Tyson Foods’ taking a 5% stake in the company.
“By bringing together Europe Snacks and Kolak we are moving towards our goal to become the pan-European partner of choice for our customers’ brands, driving innovation across a full range of crisps and snacks” – Europe Snacks CEO Christophe Fenart on the France-based group’s merger with UK peer Kolak Snack Foods.
“Brazil is the largest economy in Latin America and this acquisition will allow us to accelerate our growth and improve our margins in the region” – Kellogg chairman and CEO John Bryant on the US group’s purchase of a controlling stake in Brazilian food company Parati Group.
“This investment marks a strategic step to build Thai Union’s direct-to-consumer channel, and will enable us to benefit from the extensive restaurant industry expertise of both the Red Lobster management team and Golden Gate” – Thai Union Group CEO Thiraphong Chansiri explains why the seafood processor has bought a stake in US restaurant chain Red Lobster from Golden Gate Capital.
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“An ill warm wind that has undone some patient building” – Jefferies analyst Martin Deboo reflects on Premier Foods plc’s weather-affected second quarter, when the UK group’s sales fell 5%.
“Using ZBB reflects a way to manage and allocate responsibilities we do not support at Bonduelle” – Gregory Sanson, the CFO of Bonduelle speaks to just-food for our special report on zero-based budgeting about why the French vegetables business does not use ZBB.
“I think that we’re getting close to it being a category. We’re not there yet, but we’re really close” – Martine Banks, the co-founder of Australian low-FODMAP foods business Some Foods, on the development of the low-FODMAP market in Australia, seen as one of the countries where demand for the foods is building.