A bumper set of results this week – particularly in the middle of the week, with Mondelez International, Nestle and PepsiCo all posting 2013 numbers within 24 hours. Mondelez signalled it was scaling back its top-line targets, while Nestle is looking to combine nutrition and premiumisation to boost sales. Meanwhile, Grupo Bimbo is to buy Maple Leaf’s bakery arm Canada Bread and, in the UK, Samworth Brothers has added malt loaf brand Soreen to its stable. In Europe, we reflected on the new CEO at Nordic FMCG group Orkla.
On the money: Mondelez scales back top-line ambitions
In the year or so since Mondelez International was formed, the Cadbury owner’s sales performance has, generally, fallen below expectations. Some in the market believed company’s sales target was too ambitious, given the slowdown in its key snacks categories around the world. Reflecting on its 2013 performance and 2014 outlook, Mondelez appears to have rejigged its sales goals to follow market performance more closely.
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In the spotlight: Nestle looks to combine nutrition, premiumisation
After sales fell below the “Nestle Model” in 2013, the world’s largest food maker intends to leverage its focus on health and wellness and a new drive that could see its stable of well-known brands adopt a more premium positioning to revitalise top-line growth.
CANADA: Grupo Bimbo secures Canada Bread acquisition
Mexican baker Grupo Bimbo has entered into an agreement to acquire Canada Bread, the bakery business majority-owned by Canadian food group Maple Leaf Foods.
On the move: FMCG takes front-seat as new CEO joins Orkla
Nordic group Orkla has replaced former CEO Åge Korsvold just two years after he took the helm. With reports of boardroom strife in the Norwegian press, at first glance one might question whether the news is a function of internal factionalism. On closer inspection, however, it would seem Orkla has moved to another phase in its drive to become a branded consumer goods powerhouse by bringing in FMCG veteran Peter Ruzicka. Katy Askew reports.
UK: Samworth Brothers snaps up Soreen
UK food group Samworth Brothers has acquired fruit and malt loaf brand Soreen for an undisclosed sum from baker McCambridge Group.
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By GlobalDataEditor’s viewpoint: Searching for special K
Kellogg continues to see its cereal sales come under pressure and is set to launch a marketing push that puts its namesake brand front and centre. But will that be enough to revitalise that part of its business?
Focus: Saputo looks overseas to offset domestic challenges
Canadian dairy giant Saputo is expanding apace internationally as it looks to offset domestic challenges with growth overseas. The group is expanding capacity in Argentina, has taken majority ownership of Australia’s Warrnambool Cheese and Butter Factory in Australia and is hungry for more international M&A. Katy Askew reports.
Interview: ISM 2014: A-brands central to Natra’s growth plans
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