This week has been marked by some high profile acquisition plays with ConAgra Foods making its desire to acquire Ralcorp Holdings known and DuPont making its final offer for Danisco. Meanwhile, the UK recovered from the four-day hangover of the Royal Wedding and May bank holiday, a period, which retailer Morrisons said provided it with its two largest trading days of the year so far.
Ralcorp: the hunter becomes the hunted?
Shares in Ralcorp Holdings have rocketed since the company was linked to a takeover approach by an unnamed suitor – rumoured to be ConAgra Foods – with the possibility mooted that a financial buyer could also make a move for the US cereal-to-pasta group. While Ralcorp has knocked back the offer, speculation is currently centred on the possibility that further interest in the company could emerge. Katy Humphries reports.
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On the money: Morrisons expects “tough” 2011
Morrisons CEO Dalton Philips was circumspect about the retailer’s prospects for the rest of the year despite a successful first quarter, expecting the rest of fiscal 2011 to be “tough” as consumers tighten their belts.
On the money: Gum proves sticky issue for Kraft
Kraft Foods said yesterday (5 May) that it is facing significant challenges in its gum business, particularly in the US, where product launches have failed to live up to expectations.
In the spotlight: Hain benefits from recovery in natural, organic
US natural and organic food group Hain Celestial booked bumper third-quarter results this week. While sales were boosted by acquisitions, the company is also reaping the benefits of broader industry trends, including the rise of the natural and organic sector in the US and continued resurgence at the higher end of the market. Katy Humphries reports.
US: Californian bill could accelerate Tesco exit – analyst
A Californian bill that may ban the sale of alcoholic beverages at self-service checkouts could accelerate Tesco’s exit from the US, an analyst has said.
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By GlobalDataUS: Supervalu’s Acme banner to eliminate 900 jobs
Supervalu Inc chain Acme has announced that it will eliminate some 900 part-time jobs, effective 7 May.
US: Sara Lee to buy sausage firm Aidells, mulls bakery options
Sara Lee, the US food maker looking to split into two separate companies, said today (5 May) it was looking to buy “premium” meats firm Aidells Sausage Co. – but admitted it was mulling its options over two more of its own units.
FRANCE: Carrefour France chief McCann exits, defers property IPO
French retail giant Carrefour announced today (5 May) that the head of its core domestic business will leave the group.
BRAZIL: Kraft invests in Brazil expansion
Kraft Foods will today (3 May) officially open a new manufacturing facility in Brazil as part of its US$200m investment to drive growth in the market.
Promo Tracker: Tesco, Ocado up promotional levels
With Easter and the Royal Wedding both falling in April, the promotional landscape scene was mixed last month, according to the latest just-food Promo Tracker.
