Speculation that US retailer Supervalu Inc could be facing a leveraged buyout may not have convinced US analysts but the story certainly grabbed your interest this week. As did other news from the world of food retail. The Co-operative Group and Metro Group both sounded a bullish note on the year ahead. The Co-op indicated that it is gearing up for increased competition in the UK convenience sector with a “bring it on” rallying cry, while Metro outlined plans to reinvigorate its struggling wholesale unit. Meanwhile, Marks and Spencer detailed the final steps in the long-awaited departure of executive chairman Sir Stuart Rose.
UK: M&S details Rose exit
Marks and Spencer has provided details of the planned departure of its executive chairman Sir Stuart Rose, who will leave the company next March.
UK/GERMANY: Nestle faces protests over palm oil
Environmental campaigners in the UK and Germany today (17 March) targeted Nestle for its use of palm oil in flagship chocolate brand Kit Kat.
NETHERLANDS: FrieslandCampina profits rise
Netherlands-based dairy group FrieslandCampina today (17 March) said that profits were up by over one-third during 2009 despite a decline in sales in the “challenging” dairy market.
GERMANY: Metro remains upbeat as profits slide
Metro Group has said that it expects to see a “tangible” increase in profits in the coming year despite this morning (17 March) posting a drop in earnings for fiscal 2009.
UK: Kraft “apologies” over Cadbury factory closure
Kraft Foods today (16 March) faced a committee of MPs to discuss the US food giant’s takeover of UK confectioner Cadbury.
On the money: Lindt looks to cash in on consolidation
Lindt & Sprungli would “fight like hell” to stay independent if a takeover bid came in for the Swiss chocolate maker, the company told just-food today (16 March).
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By GlobalDataUS: Supervalu “facing leveraged buyout”
Reports surfaced on Friday afternoon (12 March) that US supermarket group Supervalu could be poised for a leveraged buyout.
On the money: Bullish Co-op readies for competition in convenience
Peter Marks, the boss of UK retailer The Co-operative Group, today (18 March) issued a “bring it on” rallying cry as the company prepares for competition from the likes of Sainsbury’s and Morrisons in the convenience sector.
UK: Study shows healthy eating at top of agenda
Fresh fruit is the most popular snack for adults and children, according to research from a YouGov report on snacking.
US: Food industry faces low profit margins – study
The US food industry faces low profit margins and thrifty consumers in 2010, according to research out today (16 March).
