A potential merger combining Symington’s and Premier Foods plc’s brands was a hot topic for analyst speculation this week. Elsewhere, Australian wholesaler Metcash CEO Andrew Reitzer remained optimistic despite announcing 470 job cuts.
“The emergence of a number of possible purchasers of its non core brands should therefore improve the chances of achieving this target” – Panmure Gordon analyst Damian McNeela, believes the potential merger of Syminton’s and some of Premier’s brands increases the UK food giant’s chances of reaching its disposal target.
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“These difficult conditions result from continued deflation which is pushing prices and margins down, and a value conscious consumer who increasingly purchases on discount” – Metcash CEO Andrew Reitzer says the Australian wholesaler wants to ensure it “remained optimally positioned to meet the ongoing difficult trading conditions” after announcing job cuts.
“Hypermarkets are not what they used to be but that space has a value because you can’t replicate it any more” – Michael Poynor, managing director of Retail Expertise and global retail advisor to PWC suggests there could be some rarity value in existing hypermarket sites
“Ferrero will be able to compete price-wise in the US market, but they will have to cater to a niche market if they want to make an impact because the chocolate industry in the US is so saturated” – Ferrero’s new plant in Mexico will also supply the US market but IBIS World food industry analyst Mary Nanfelt believes the Italian confectioner will need to target specific consumers north of the border to succeed.
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“We were disappointed that we were not able to maintain the final salary pension scheme. However, we were successful in implementing changes to the CARE scheme, which is now best in class” – Unite national officer Jennie Formby reveals why the union’s members had approved the revised pension deal with Unilever.
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