Results season started in earnest this week, with Unilever, Kellogg and Hershey among the food giants announcing annual results. There was a sprinkling of M&A activity this week as Dutch food group CSM announced plans to buy US baker Best Brands and Lactalis acquired Spanish cheese maker Forlasa, The speculation over Kettle Foods heated up, with Lance and Diamond Foods now reportedly eyeing a potential bid for the business. And, finally, Kraft Foods’ pursuit of Cadbury came to an end with the US food giant’s bid accepted by the Dairy Milk’s investors. Here are the top stories on just-food this week.
US: Kraft’s Cadbury bid successful
Kraft Foods announced this evening (2 February) that its bid to acquire control of Cadbury has been accepted by shareholders in the UK confectioner.
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GLOBAL: Chocolate demand to return in 2012 – Callebaut CEO
The chief executive of chocolate giant Barry Callebaut has warned that it will take two years before global volumes return to the levels seen before the recession.
UK/NETHERLANDS: Unilever CEO points to “good progress” in 2009
Unilever CEO Paul Polman has said the consumer goods giant made “good progress” in 2009 with rising underlying sales and volumes accelerating throughout the year.
US: Kellogg earnings fall as volumes slide
US cereal giant Kellogg today (4 February) posted a 1.7% drop in fourth-quarter earnings due to a fall in sales volumes.
NETHERLANDS: CSM to buy US baker Best Brands
Dutch food group CSM has struck a deal to buy US bakery manufacturer Best Brands for US$510m.
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By GlobalDataGLOBAL: PepsiCo boss eyes US$30bn health kick
PepsiCo has confirmed that it is aiming to triple its US$10bn revenues from the healthy drink and food market with the launch of several products.
US: Lance, Diamond “join race for Kettle”
Kettle Foods has reportedly attracted the interest of US snack manufacturers Lance and Diamond Foods, who have joined the likes of PepsiCo and Snyder’s of Hanover as potential bidders for the chip maker.
US: Food makers face hike in FDA fees
US food manufacturers and drug makers could be hit with over US$280m in new fees under proposals included in President Obama’s 2011 budget.
SPAIN: Lactalis buys cheese-maker Forlasa
French dairy group Lactalis has acquired Spanish cheese maker Forlasa for an undisclosed sum.
NEW ZEALAND: Fonterra sees milk price drop
Fonterra has reported that the price of Whole Milk Powder (WMP) fell for the second consecutive month in its online global trading event.
