09 August 2024
09 August 2024
What seems to be certain is that investors are being more choosy about the businesses they invest in.
The management team at the diversified food and drinks business will remain on board.
Gross margin is now expected in the mid-teens range, from mid-to-high teens previously.
Despite category “softness” in meat alternatives, Quorn’s gross margins rebound.
Vince Timpano will become CEO on 1 September while current chief executive Nathalie Lassonde will transition to executive vice-president.
Boar’s Head recalled seven million pounds of deli meats on 30 July, expanding an initial recall on 25 July.
Reuters says agri-food companies are facing challenges as prices of commodity crops approach four-year lows and crop processing margins have fallen.
Vion suggests Germany risks becoming a net meat importer if the plight of farmers is not addressed.
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