Last week saw just-food following China’s investigation into the alleged fixing of infant formula prices, which has involved Danone, Nestle and Mead Johnson. We also spoke with a number of company executives about their growth plans including the MD of Australia-based Freedom Foods Group, Rory McLeod, who outlined the company’s plans and explained why gluten-free needs to focus more on taste. We also had time with Finsbury Foods CEO John Duffy who talked about the potential the company sees in bread. Elsewhere, Ocado released its first-half results and FMCG giant PZ Cuzzons struck a deal to buy Australian baby food business Rafferty’s Garden.
“You can only say ‘free’ if you test to the lowest detectable standard. It can’t be some gluten, it has to be no gluten” – Freedom Foods Group MD Rory Macleod says the idea of lifting the threshold on the amount of gluten in gluten-free products would hit the country’s “real, unique advantage” in the sector.
“We do need to be a little bit wary that the introduction of these new labels could potentially widen health inequalities” – Kate Mendoza of the World Cancer Research Fund says one of the problems for policymakers with regard to public health is that it is harder to reach or influence individuals who have the greatest need, and that interventions and preventive health measures are taken up more readily by the better off. She was speaking as a single form of front-of-pack nutritional labelling is agreed in the UK.
“Whilst Ocado has surprised us with the nature and extent of the deal that it has agreed with Morrisons, we do not see it as a transformational transaction from a financial and so valuation perspective, particularly given where the shares are now valued” – Shore Capital analyst Clive Black offers his views on Ocado’s first-half results.
“The bread business is such a tiny player in such a massive market that normally I would be looking at the overall category and seeing it as flat and being difficult to grow in” – Finsbury Foods CEO John Duffy says the investment it is making in its bread business is despite the pressures of operating in a “tough” category.
“Following this investigation, Wyeth Nutrition assessed its pricing practices and decided to improve certain sales and marketing practices. Wyeth Nutrition also decided not to raise prices of any new products over the next year” – Nestle says it has been co-operating with China’s National Development and Reform Commission in the probe into price fixing in the country.
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By GlobalData“The directors consider that the proposed project with ISM can further enhance and secure the supply of premium quality infant formula products while strengthening the partnership through participation in the share capital of ISM and enhancing common R&D projects” – Biostime International Holdings outlines the benefits of investing in French dairy co-op Isigny Sainte Mere.
“Emerging markets represent a key growth opportunity for Mondelez International globally, and this facility will help us support the future of our snacking portfolio” – Roberto Soto, president of Mondelez Mexico on the construction of its new cookie facility in Mexico, to be the world’s largest.
Pepperidge Farm, the bakery business of Campbell Soup Co., says that in order to “grow and flourish” the company needs to be “innovative and agile, with the most cost-effective manufacturing facilities”, as it announces plans to close its bakery in South Carolina, with the loss of 115 jobs.
“I wouldn’t say food is in any way a target market for them. It’s more about geography and building on the distribution capability they’ve got in the area” – Shore Captail analyst Darren Shirley suggests PZ Cussons’ deal to buy Australia’s Rafferty’s Foods could be more about eyeing an opportunity for strategically growing its main business, rather than a way of expanding its food operations.
“At any one time Cargill is assessing a number of initiatives to progress its business strategy” – A spokesperson for Cargill remains coy over reports it is exploring the possibility of buying Archer Daniels Midland’s cocoa business.