Hitting headlines this week was the bidding war for Hillshire Brands which saw Tyson Foods and Pilgrim’s Pride both go head to head. Elsewhere, Peters Food Group was acquired by R&R Ice Cream, while Nestle and Fonterra issued a statement saying they were scaling back their Latin American partnership. Also this week, Synlait Milk announced it was revising its 2014 earnings outlook and Danish Crown announced 190 jobs would go as it chose to close its Bornholm slaughterhouse.
“A sale of [Hillshire] at the price … offers superior value and far greater certainty to Hillshire shareholders than the contemplated Pinnacle transaction,” – Pilgrim’s Pride CEO William Lovette on the US poultry group’s proposition to acquire Hillshire Brands.
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“Our proposal provides Hillshire shareholders with an immediate cash premium for their shares that we believe is both greater and more certain than what can be attained in the near term by the company either on a stand-alone basis or in combination with any other food processing company” – But Tyson Foods then joins the battle to buy Hillshire.
“Peters is an iconic Australian business and the leader in the Australian ice cream manufacturing market; it will be an exciting complement to R&R’s European presence” – R&R Ice Cream CEO Ibrahim Najafi announces the acquisition of Australian Peters Food Group.
“Nestle’s partnership with Fonterra has worked well in the past and it meets both companies’ strategic goals to continue in Brazil, one of the fastest growing economies in Latin America” – Nestle and Fonterra scale back their Latin America partnership, although the Swiss giant insists it’s nothing to do with the botulism scare Fonterra was tied up in last year.
“There is no doubt that the employees on the island [are] doing the right thing when they reject a local pay cut of 8%” – A union representative for workers at Danish Crown comments on the announced closure Bornholm slaughterhouse which sees 190 jobs axed.
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By GlobalData“The Bologna Court of Appeal has declared the termination of the disputed matter and rejected all the applications made by the public prosecutor’s office” – The prolonged court case over Parmalat’s acquisition of the US arm of majority shareholder Lactalis comes to an end.
“We noticed in order to know about food losses and waste we are relying on quite old and secondary data and information, which were not very accurate in the first place, because it’s very difficult to measure food loss and waste. So we have a case study methodology” – Robert van Otterdijk, agro-industry officer at the FAO, on the Save Food initiative which looks at supply chains to identify how food loss comes about.
“We had been expecting to maintain the benefits of a very favourable product mix for the remainder of this financial year, however the exceptional market conditions experienced in the first half of the year have moderated” – Synlait Milk chairman Graeme Milne announces a revised profit outlook for 2014 based on the New Zealand FX rate and a reduced advantage from a favourable product mix in the second half of the year.
“We might be lagging behind but as we continue to raise awareness we hope that that would change” – Rachel Cranston, senior brand manager for Alpro in the UK, says the country is catching up with Europe when it comes to free-from knowledge.
