The list of the ten best-selling new food and beverage products in the US for 2007 has proved a must-read for many of our readers in recent days. This week, we interviewed Sheila McCusker of IRI, the analysts behind the list, and found out more about the brands that succeeded last year. Elsewhere, Kerry’s long-rumoured acquisition of Breeo Foods and Nestle’s bullish trading update were the highlights of this week. Here are just-food’s top five stories this week.
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Health’s reign over US innovation to continue
Analysts IRI has issued its list of the top ten best-selling food and beverage products in the US last year. IRI’s Sheila McCusker talked to Dean Best about the ingredients a brand needed to succeed in 2007 – and gave the analysts’ forecasts for NPD in 2008.
SWITZ: Nestle raises organic growth outlook
Nestle, the world’s largest food group, has raised its organic growth outlook for 2008, citing strong global demand and price increases. The company expects organic growth for the full year 2008 to be close to the previous year’s level and clearly above the long-term trend target of between 5-6%.
US: Bakers join forces on “wheat crisis”
US bakers joined forces in Washington today (12 March) to draw attention to record high wheat prices and tight supplies. The American Bakers Association outlined a plan to alleviate the wheat crisis that includes the US Department of Agriculture giving priority to the needs of the domestic food industry with supplies of wheat tightening.
IRELAND: Kerry agrees to acquire Breeo Foods
Kerry, the Ireland-based food group, has announced its agreement, subject to regulatory approval, to acquire Breeo Foods, a subsidiary of Irish based Reox Holdings. The deal, which has been in the pipeline since November when reports of the proposed sale first began, is expected to be worth EUR165m (US$257m).
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By GlobalDataUK: M&S unveils executive shake-up
Marks & Spencer chief Sir Stuart Rose has put an end to speculation about his future by agreeing to stay with the company until July 2011 as part of a raft of management changes announced today (10 March). The executive overhaul will see Sir Stuart move up from his current role as chief executive to executive chairman on 1 June, for a three-year tenure before he retires.
