Despite the week being a shorter one due to the Christmas break, the news has continued to roll in. One deal in particular that has dominated the headlines is Hormel’s acquisition of Unilever’s Skippy brand. Hormel CEO Jeff Ettinger is confident the deal will allow it to grow its share of the US nuts and spreads category. Elsewhere, just-food spoke with Tyrrells about the firm’s export plans, while Dole got analyst tongues wagging after issuing a worse than expected profit outlook.
“We feel that we can do a very solid job with the core category. There are always share opportunities and we will always compete aggressively” – Hormel CEO Jeff Ettinger suggests the firm hopes to grow its share of the US nuts and spreads category through its acquisition of the Skippy brand from Unilever.
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“We’re one of the few products that don’t actually advertise what’s inside the pack. That makes it more difficult for people to decipher what we are, but it’s a great product and it works well, it translates” – Tyrrells head of international Laurence Bass insists the firm’s brand does and will continue to translate well abroad.
“Excluding the new cost savings programme, we estimate management’s 2013 guidance would imply the worst year for the pro forma company since 2006, when the EU market imploded in the wake of the elimination of the quota regime” – BB&T analysts reduced their 2013 forecasts for Dole as a result of the company issuing worse-than-expected earnings guidance.
“Tesco and Sainsbury are likely to report strong internet and convenience growth, but the more these grow, the more sales from large stores fall” – British Retail Consortium director general Helen Dickinson believes retailers have been working hard to develop their convenience channels but says that as these routes to market come to prevalence, they risk cannibalising sales from retailer’s core portfolios.
“Currently, only around 40% of continental meat is produced in accordance with the new welfare regulations. The member states will eventually have to take action to prevent their pig farmers producing meat illegally” – National Pig Association chairman Richard Longthorp believes an EU stall ban on the use of stalls in pig farming is likely to reduce the amount of pigmeat produced in Europe by as much as 4-6%.
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By GlobalData“The board of appeal confirmed that Nestle’s above-mentioned trade mark had acquired a distinctive character through its long and intensive use in a substantial part of the EU” – a Nestle spokesperson says the company is “delighted” to have defended its trademark on KitKat’s shape against Cadbury at the appeals board of the EU’s community trademark office.
“The most likely scenario is that a number of buyers will each purchase portions of the company” – a spokesperson for Hostess Brands tells just-food a sale of the company will most likely result in a break-up of the firm.
“Closing a bakery is the hardest decision our family business has to make” – Warburtons chairman and CEO Jonathan Warburton on the firm’s decision to close its Blackpool facility.
“Given that Mr. Burd has had such a hands-on role in shaping Safeway’s strategy and operations for so long, we think his departure leaves behind a great deal of uncertainty over Safeway’s near-term financial performance and its longer-term outlook” – Ajay Jain, analyst at Cantor Fitzgerald, sees the potential for disruption at Safeway following the departure of CEO Steve Burd.
“By simplifying its corporate structure HKScan aims to harmonize the group’s operational processes and streamline its internal administration” – Finland-based meat group HKScan outlines the reasons for streamlining its subsidiaries in its home country.
