Perhaps the biggest M&A story in the UK food sector this week reached the final chapter when Ireland’s Greencore gave up on its pursuit to buy UK rival Northern Foods. Another UK deal was concluded this week: Premier Foods plc’s disposal of its meat-free business, which has led to the creation of Quorn Foods – and we interviewed its CEO. Elsewhere, we detailed Morrisons’ online retail ambitions and analysed Heinz’s push into Brazil, while many of you were interested in claims that recycled food packaging could be linked to cancer. Click on the headlines below to find out more.
In the spotlight – Boparan outfoxes Greencore in bid for Northern
Ranjit Boparan looks set to seal control of Northern Foods next week, having trumped the merger offer made by Irish food group Greencore late last year. Ben Cooper reports.
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just the answer – Kevin Brennan, Quorn Foods CEO
Premier Foods plc’s decision to sell its meat-free business was seen as a move to reduce a debt pile at the UK’s largest food group that, last summer, reached over GBP1.3bn. The unit, renamed Quorn Foods, is now in the hands of Exponent Private Equity. Dean Best spoke to Kevin Brennan, the former Kellogg executive that Premier appointed to run its meat-free operations, and who is now CEO of the new firm.
UK: Recycled cardboard food packaging “linked to cancer”
Swiss scientists have linked cardboard packaging made from recycled newspapers to health complaints in lab rats, ranging from the inflammation of internal organs to cancer.
UPDATE: UK: Morrisons CEO Philips questions rivals’ record online
Morrisons CEO Dalton Philips has claimed he believes none of the retailer’s rivals in the UK have “cracked fresh food online” or “managed to create a significant point of difference”.
BRICs and beyond: Heinz goes local in Brazil
Heinz has announced its first major push into Brazil, with the acquisition of 80% of local tomato sauce maker Coniexpress. The deal provides Heinz with a significant footprint in the country and fits neatly with the US ketchup giant’s push to grow revenues in emerging markets. Katy Humphries reports.
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By GlobalDataEU: Beef sector “faces devastation” over South America trade deal
A row has broken out between the European Commission and EU-wide food and farm federation Copa-Cogeca over its claims that a planned trade deal with South America’s Mercosur would destroy Europe’s beef sector.
FRANCE: Sodiaal plans Entremont Alliance closures
Sodiaal intends to close one of the 13 production plants operated by fellow French dairy co-op Entremont Alliance.
TURKEY: Sabanci sets out growth plans for Carrefour, Dia JVs
Sabanci Group is planning for the aggressive growth of its separate retail joint ventures with Carrefour and the French retailer’s discount arm Dia, the Turkish conglomerate’s chief executive told a press conference in Istanbul today (8 March).
UPDATE: IRELAND/UK: Northern pension trustees block
Greencore’s plan to table a revised bid for Northern Foods was scuppered after the Irish company failed to secure the backing of the trustees of its UK takeover target’s pension fund.
UK: Quorn Foods created as Premier seals meat-free sale
Premier Foods plc has completed the sale of its meat-free unit to Exponent Private Equity, which has created Quorn Foods, a company with the aim of developing the world’s “leading meat-alternative business”.
