24 January 2024
24 January 2024
The Philippines business said meat alternatives are still facing a “challenging environment”.
Consumers are choosing lower-priced Orior products, resulting in lower margins, it said.
The two companies are in discussions over Hero’s Semper facility in Götene in the south of the country.
The owner of the Cavendish & Harvey brand has bought liquorice specialist Jahnke from another local confectioner.
The deal will see seafood supplier Sea Harvest acquire all of one business and net a majority stake in another.
The Swedish company purchased Riley’s through its subsidiary Pet MD Brands for a fee of Skr78.4m ($7.5m).
Pet Brands is a supplier of private-label and branded dog and cat treats including jerkies, soft chews, dental chews, purees and bones.
The Mr Kipling brand owner expects the pricing benefit on top-line growth to “start to drop out” this quarter.
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