This week, Unilever was gain rumoured to be looking to sell a food brand – this time Ragu pasta sauces. UK group Premier Foods announced a new refinancing package, while in the US, a mega-merger in the retail sector is on the cards, after Albertsons owner and private-equity firm Cerberus Capital Management struck a deal to buy Safeway Inc.
“Ragu has come under pressure from cheaper own label pasta sauces and hence volumes and profits have declined” – Ernst and Young analyst David Murray says there is reason to believe Unilever could be looking to sell Ragu.
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“We have a new capital structure and we are leaving the past in the past… As we have unburdened the business we need to think about how we are going to grow the business,” Premier Foods CEO Gavin Darby (pictured) comments on its new refinancing deal.
“Working together will enable us to create cost savings that translate into price reductions for our customers” – Albertsons CEO Bob Miller explains the benefits of a merger with US peer Safeway.
“Much of the sugars consumed today are hidden in processed foods that are not usually seen as sweets” – the World Health Organization urges consumers to be cautious about the level of sugar they consume – and suggests halving their intake.
“The company is on the march. The company is not moving as fast as I would like it to sometimes but I am confident in the ability in the teams in general to be combative” – Carrefour CEO Georges Plassat insists the French retail giant is making progress.
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