The week saw a raft of quarterly and half-yearly reports from firm’s including Heinz, Campbell Soup and Del Monte. Elsewhere, Couche Tard fired the latest salvo in its increasingly hostile pursuit of Casey’s. Here’s the best of what was said this week:
“In raising our offer, we have taken into account the views of the Casey’s shareholders and our goal of completing a transaction that makes compelling strategic sense for both companies” – Couche-Tard president and CEO Alain Bouchard on its bid for Casey’s
“[Tesco] already controls a third of the UK’s grocery market but is using increasingly dodgy tactics to gain further market share – such as front companies to buy land and using bogus figures to support planning applications” – Helen Rimmer, Tescopoly spokesperson on Tesco’s expansion drive
“If we go down the line we have chosen, we will be able to make the Carrefour brand much bigger than it is today, be much more competitive and become a loved brand” – Carrefour CEO Lars Olofsson reveals its plans to revitalise the hypermarket format
“We’re going to continue to push aggressively in terms of incremental investment into the emerging markets, the only markets that are showing sustainable growth in all the countries we operate in and where consumers are becoming increasingly confident” – Heinz CEO William Johnson said the firm is seeing more M&A opportunities in emerging markets.
“The agencies have not been able to come up with a proposed standard they all can agree on as of yet but it will happen” – Keith Fentonmiller, senior attorney at the FTC‘s Bureau of Consumer Protection discusses the government’s children’s advertising guidelines.
“It is really difficult to make a salad dressing that is low in fat that tastes anywhere near as good as the full fat version” – Independent analyst James Amoroso discusses manufacturers’ goals to reduce fat in foods.
We compete against some large competitors across our categories like Kraft, ConAgra and Frito Lay” – Linda Segre, Senior vice president, corporate strategy and communication, Diamond Foods on its biggest competitor in the snack arena.
“It’s all about the economy. You don’t need chocolate to survive but you spend money on chocolate and it’s sort of reflecting your confidence in the future” – Philip Wegh of Krupskaya Confectionery discusses the struggling Russian chocolate market.
“Generally we look at where we can amplify our portfolio to drive growth, we have a good platform in US, great customers and we believe that this provides us with a platform for growth both internally and through acquisitions” – Richard Wolford, CEO of Del Monte Foods on the future for the firm.
“It is of course very sad to come with that letter. We will now continue the negotiations initiated as soon as today to give our employees more detailed information” – Cloetta‘s president and CEO Curt Petri on the firm’s job cuts