Kellogg snapping up Pringles grabbed your attention this week but it was five days in which the EU and the US signed a trade deal over organic food, the likes of Nestle, Danone and Dean Foods reported annual financial results and General Mills issued a surprise profit warning. Click on the headlines for more.
Comment: Pringles buy is bold move from Kellogg
The acquisition of Pringles is a step-change for Kellogg. The US cereals giant faces a formidable competitor in savoury snacks in PepsiCo, which has seven of the world’s top ten brands and will be focused on rebounding after a challenging year. And Kellogg also faces tough markets in the US and Europe in its core cereals business.
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EU/US: Brussels, Washington sign organic food deal
Food certified as organic in the EU and the US will be able to be sold in either market, according to a new trade deal signed today (15 February).
FRANCE: Danone forecasts slower sales growth, flat margins
Danone has forecast slower sales growth and flat margins for 2012 after the French food giant said it saw no improvement in trading conditions this year.
Nestle’s 2011 results and 2012 outlook – what the analysts say
Shares in Nestle rose today (16 February) after the world’s largest food maker issued a solid outlook for 2012 after a year of increased underlying sales and profits. Here is what leading analysts said about the results from the Swiss food giant – and the outlook for the business this year.
US: General Mills issues profit warning
General Mills has lowered its forecast for annual earnings on the back of weak volumes in the US.
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By GlobalDataGLOBAL: Mars to implement ‘calorie cap’ on chocolate range
Confectionery giant Mars Inc plans to limit the amount of calories in the chocolate it sells worldwide.
UK: Iceland founder Walker in exclusive talks to buy chain
Iceland Foods founder and CEO Malcolm Walker is in exclusive talks to buy the UK frozen food retailer.
On the money: Challenges remain in liquid milk, warns Dean Foods CEO
Dean Foods chief executive Gregg Engles has warned the “fundamental challenges” hitting profits at the US dairy giant’s liquid milk business remain despite the company reporting narrowing losses today (15 February).
SWITZ/UK: Chocolat Frey plans to take brand into UK
Swiss chocolate maker Chocolat Frey is looking at plans to take its range of branded products into the UK market.
On the move: Wal-Mart’s Foran faces challenges in China
Greg Foran, who moved from Woolworths Ltd to Wal-Mart last autumn, has been named as the US retail giant’s new chief in China. As Dean Best writes, Foran is taking charge of one of Wal-Mart’s most challenging businesses.
