This week was a disastrous one for the Irish pork sector, when food safety authorities ordered a full-scale recall of all products containing Irish pork. The move followed the discovery of illegal levels of dioxins at ten pig farms, which account for about 10% of the country’s pork output. While Irish pork is now back on the shelves, the Irish food industry could be counting the cost of the recall for some time yet.
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Following weeks of speculation, it was announced this week that Mexican baker Grupo Bimbo had acquired the US bakery unit of Canada’s George Weston for US$2.5bn. The news has caused some to suggest that George Weston is preparing to take Canadian retailer Loblaw private, resulting in a jump in Loblaw shares.
In other M&A news, it emerged that Dr Oetker has acquired Schwan’s European pizza arm. Schwan said the sale would allow it to focus on its North American pizza business, while Dr Oetker said the deal was in line with its policy of acquisitive growth and would further strengthen its European presence.
The price war between UK retailers also intensified this week, when Tesco announced a 50%-off sale hot on the heels of M&S’s second 20% off everything one-day sale. However, the latest figures from TNS revealed that these promotional activities have not prevented consumers turning in increasing numbers to discounters. Indeed, Asda CEO Andy Bond warned that the recession is causing a tidal-shift in consumer buying patterns. Retailers who failed to respond would be left by the wayside, he said.
Here are the top ten most read stories from just-food this week.
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By GlobalDataIRELAND: Consumers warned to avoid pork in dioxin scare
Ireland’s food safety watchdog has ordered supermarkets to remove Irish pork products from shelves and consumers have been told to avoid Irish pig meat after the discovery of contamination from cancer-causing dioxins.
Ireland looks to contain pork crisis
Ireland’s food safety watchdog has put out a blanket recall on all pork products manufactured in the country after it emerged that a “significant proportion” of Irish pigs have been contaminated with cancer-causing dioxins. With the recall in hand, the Irish food industry has turned its attention to rebuilding international confidence in the quality of Irish food exports.
US: Bimbo to acquire George Weston bakery unit
Canadian food processing and distribution company George Weston has sold its US fresh bakery business to Mexican baker Grupo Bimbo.
UK: Dr Oetker acquires Schwan pizza arm
Dr Oetker UK has signed a deal to buy The Schwan Food Company’s European frozen pizza business.
UK: Tesco escalates price war with 50%-off sale
Tesco, the UK’s largest retailer, has said that it will introduce deep discounts on 1,000 Christmas products in a bid to spur spending and beat the gloom descending on the high street.
UK: M&S promotions look to boost sales
UK retailer Marks and Spencer is offering a variety of seasonal promotions on food and drink products in a bid to woo cash-strapped customers during the Christmas season.
UK: Discounters continue to grab market share
Morrisons, Asda, and discounters Lidl and Aldi have continued to gain grocery market share in the UK in the last quarter as a result of rising consumer demand for cheaper groceries.
UK: Recession will change consumer habits – Asda CEO
Asda president and CEO Andy Bond has predicted that the recession will “fundamentally change” the buying patterns of UK consumers.
UK: Dairy Crest dairies boss resigns
Dairy Crest said this morning (11 December) that Martin Oakes, executive managing director of its dairies division, has resigned.
US: Whole Foods files action against FTC
Whole Foods Market has filed an action in the US District Court against the Federal Trade Commission (FTC) for alleged errors in determining if its acquisition of rival Wild Oats violated antitrust laws.
