Brazil-based food giant Marfrig announced the surprise resignation of CEO Sergio Rial this week after just a year in the position. Another chief executive is to go at UK retailer Morrisons, with its board believing its best chance to return to growth is without Dalton Philips. On just-food’s insight pages, we discussed the prospects for Danone’s launch of a men-focused yoghurt in the US and asked which companies Heinz co-owner 3G Capital could be targeting. Click on the headlines for more.
Marfrig CEO Sergio Rial resigns
Marfrig chief executive Sergio Rial has decided to leave the Brazil-based meat giant, the company announced today (15 January).
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By GlobalDataClick here for coverage of a conference call with analysts held by Rial and his successor CEO Martin Secco Arias to outline Marfrig’s plans for 2015.
Mondelez: Cadbury cuts will secure Bournville production
Mondelez International has stressed the 200-plus jobs to be cut at Cadbury would “secure the next generation of manufacturing” at Bournville, the flagship site of the chocolate unit.
On the move: Morrisons to up focus on value after Philips exit
Morrisons has announced chief executive Dalton Philips is to leave the UK grocer, an apparent victim of the retailer’s inability to compete against the likes of Aldi and Lidl. Philips tried to emphasise Morrisons’ value credentials but early efforts do not seem to have paid off and the company has indicated a fresh push on value and costs under a new chief executive. Katy Askew reports.
First Milk moves to calm fears over financial position
First Milk has insisted its business is “very safe” after the decision to defer payments to its farmer members sparked speculation over the UK co-operative’s financial security.
Lantmannen to buy Finnish baker Vaasan
Swedish agricultural cooperative Lantmännen is to buy local bakery group Vaasan from private-equity firm Lion Capital.
Yashili warns 2014 profits will plunge 40%
Yashili International Holdings, the listed Chinese infant formula company in which Mengniu and Danone hold sizeable stakes, has warned that it now expects a 40% decline in profit for 2014.
Aryzta spins out flatbreads operations
Aryzta has put its flatbreads operations into a joint venture with UK-based Signature International Foods.
Americana shareholder says still in talks for sale
Kuwait Food Co.’s majority shareholder has said it is still looking at selling off its stake in the frozen food company.
M&A Watch: Who could be on 3G Capital’s radar?
Given 3G Capital’s industry focus, its background of partners and track-record, the next big takeover target for the co-owner of Heinz is almost certainly a legacy branded business in the FMCG world. But which companies other than PepsiCo and Campbell Soup Co. could or should be on that big-ticket target list? We tip Kellogg and, lower-hanging in terms of rationale, General Mills.
Focus: Why the jury is out for Danone’s Oikos Triple Zero
Greek yoghurt has been one of the most buoyant food categories in the US in recent years but, with growth slowing and competition fierce, manufacturers are on the look-out for ways to boost sales. Danone has launched Oikos Triple Zero, a product it hopes will attract more protein-hungry male consumers to the fixture. Will the French company succeed? Dean Best investigates.
