Cadbury dominated the headlines again this week after its board approved an increased offer from Kraft Foods. This was much to the dismay of the US food giant’s largest shareholder Warren Buffett who made it clear he didn’t want the comapny to make such a “bad deal”. Elsewhere, retail growth continues at Morrisons, which claimed it had “beat” its UK retail rivals over Christmas with a 6.5% sales increase. Leclerc also widened the gap between the company and its nearest rivals in France with an almost 6% rise in turnover in 2009. Here is a list of who said what this week.
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“We are pleased with the commitment that Kraft Foods has made to our heritage, values and people throughout the world. We will now work with the Kraft Foods’ management to ensure the continued success and growth of the business for the benefit of our customers, consumers and employees” – Roger Carr, chairman of Cadbury
“We expect to continue with a significant presence in this market and we believe that advanced scale will allow us to continue to invest in Cadbury facilities, such as Bournville. We expect to be a net importer of jobs to the UK” – Kraft chairman and CEO Irene Rosenfeld (pictured) tries to soothe concerns over Cadbury jobs.
“I think Irene has done a good job in operations. I like Irene. She’s been straight-forward with me – we just disagree. She thinks this is a good deal, I think it’s a bad deal. I think she’s a perfectly decent person. She could be a trustee under my will. I just don’t want her making this particular deal” – Kraft Foods’ largest shareholder Warren Buffett
“We certainly saw that customers did enjoy their Christmas; people save for it and we saw our premium ranges have good growth” – Morrisons finance director Richard Pennycook
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By GlobalData“As well as giving our customers a flexible new offer, we’re helping them to cut food waste” – Lucy Neville-Rolfe, Tesco executive director, promotes Tesco’s new UK promotion
“2010 will probably be more difficult than 2009. The end of government measures that were helping consumption, the rise in unemployment and the cost of the unavoidable regulation of the crisis – like taxes – will lower purchasing power” – E.Leclerc, France’s largest retailer
“Definitely, investing in price is a good idea. Purchasing power is a big story in France. The French are quite price sensitive” – Verdict Research retail analyst Daniel Lucht reckons France’s retailers face a tough 2010
“I want to see a better dialogue between the various actors in the food chain. We must remember that it is not only the supermarkets which are creaming off the profits of primary producers; there are other actors in this area” – EU’s agriculture Commissioner-designate Dacian Ciolos
“Even though the Shedd’s Country Crock line of chilled side-dishes is a strong player in this segment, we believe growth and leadership will be better managed by a company who has this business at its core” – a Unilever spokesperson explains the company’s disposal of Country Crock products to Hormel Foods
“We are excited about the growth potential for Target and believe we have the capital, talent, and right blend of discipline and innovation to deliver meaningful value to our guests and shareholders” – Target Corp. boss Gregg Steinhafel is upbeat about the US retailer’s plans – including international expansion
