Posted by Turgut Ziyal on Saturday, December 24, 2011,
In :
confectionery
An interesting and short presentation compiled by confectionery.com: click here Continue reading ...
Hershey has held talks with former Cadbury CEO Todd Stitzer about taking a seat on the board, according to Bloomberg. Interim chief John Bilbrey is the frontrunner for the CEO position, though Stitzer also is being considered for the role.
Hershey plans to name a permanent head before the end of June. One quoted possibility would be for Stitzer to join the Hershey board and mentor Bilbrey, who took the interim role after David West left to head Del Monte Foods.
“The board is committed to ... Continue reading ...
Posted by Turgut Ziyal on Monday, December 6, 2010,
In :
companies
The Hershey Company has sued Mars for allegedly mimicking the packaging design of its Reese’s Peanut Butter Cups by using a similar orange color and pack design for Dove peanut butter milk chocolate Promises. Mars filed a preemptive lawsuit last Monday in the US District Court for the Eastern District of Virginia, asking a federal judge to dismiss Hershey’s claims, just days before Hershey filed its trademark infringement suit against Mars in the US District Court for the Middle District ... Continue reading ...
Hershey and Nestle are among the final bidders for Wedel, the Polish business Kraft Foods acquired from Cadbury takeover, which is going to be sold to win the EU clearance for the acquisition of Cadbury.
It is reported that Kraft has shortlisted potential buyers to six, including two buyout firms and four strategic players. Final bids are due by the third week of June.Private-equity firms include Bridgepoint and Advent International, along with Nestle and Hershey.
Wedel is said to be valued... Continue reading ...
Posted by Turgut Ziyal on Friday, June 11, 2010,
In :
confectionery
Hrshey's Indian joint venture Godrej Hershey is reported to be introducing chocolate products into Indian confectionery market. The JV was established in 2007, and it was focused on mainly food and sugar confectionery products in India.Hershey holds 51% of the joint venture. The JV has already introduced a chocolate syrup into the Indian market from Hershey's portfolio.
According to Euromonitor reports that the growing Asian economies and rising consumer affluence have resulted in consumer... Continue reading ...
Posted by Turgut Ziyal on Thursday, January 28, 2010,
In :
confectionery
As always said, the expected Kraft-Cadbury deal will trigger further changes in the confectionery world. One of such speculations is that Swiss food group Nestlé is likely to set itself a long-term goal to buy Hershey , hoping that market pressures after the Kraft-Cadbury deal will wear down opposition from the controlling Hershey Trust.
It is argued that after Kraft and Cadbury merge, Hershey's main U.S. market will become more competitive and as being a pure confectionery player, Hershey... Continue reading ...
Ferrero has ruled out a rival bid for Cadbury, clearing the way for Kraft Foods to complete its £11.7 billion ($18.9 billion) proposed takeover of the British confectioner, Reuters reported.
Fellow chocolate maker Hershey said on Friday it had no intention of bidding for Cadbury, so with Nestlé already ruled out, Kraft appears on course to complete its recommended bid by the deadline of Feb. 2.
“Further to its announcement of Nov. 18, 2009, Ferrero International SA confirms that it doe... Continue reading ...
Kraft has reached a tentative deal for a friendly takeover of Cadbury, agreeing in principle to pay about $19 billion in cash and stock for the confectioner, people briefed on the matter said on Monday. If realized, the deal would create a global food giant that would unite Kraft with Cadbury . Together, the two companies would have more than $50 billion in revenue and a big presence in markets globally.Most recently Mars buying the Wm. Wrigley Jr. Company in 2008 for $23 billion became the b... Continue reading ...
It is expected that today (monday) Kraft may raise its initial value of hostile bid for Cadbury above 800p. Today is a holiday in US and stock markets are closed. Despite supportive announcements of several British investors to Cadbury management, those US investors of Cadbury which hold at least 40% of the shares may be willing to exchange their shares with Kraft when the offer is around 820p or over.
On the other hand, the rumors that Hershey is preparing to make a bid, gets stronger. We ma... Continue reading ...
Ferrero, the Italian chocolate maker, was on Tuesday night debating abandoning a pursuit of Cadbury. It is said the Ferrero family, which controls the group, was close to dropping out of the Cadbury battle following a decision by Michele Ferrero, the group’s chairman. Mr Ferrero was understood to be against the move because it involved too much debt for a company that has traditionally not made acquisitions. On the other hand there are rumors that there is no consensus in the family on th... Continue reading ...
Today Reuters reports that there are rumors that Cadbury Board members are in touch with their counterparts in Hershey for seeking a "merger partner" against their "hostile bidder"...Those who remember my previous comments know that my expectation from this battle is a Hershey involvement. A source says: "As they go through this process, they feel as though they (Cadbury) want to have a management say in the organization and I think that they perceive that one of the suitors is better than th... Continue reading ...
This news supports my comments few weeks ago that in Cadbury deal we should keep an eye on Hershey-Nestlé coalition....I still beleive there are good reasons and mutual benefits for them in such a joint take-over action. Most probably Cadbury will support any non-Kraft offer which is somehow higher than original Kraft bid.
US chocolate giant Hershey has been in contact with Nestle over a possible joint bid for Cadbury, according to reports.
An offer between the two could challenge the hos... Continue reading ...
LONDON/CHICAGO (Reuters) - Kraft Foods made its formal $16.1 billion offer to Cadbury shareholders, triggering a two-month takeover fight for the chocolate maker and a frosty response from Britain.
UK business secretary Peter Mandelson warned the U.S. food giant it would face a backlash if it tried to buy Cadbury on the cheap. "If you think that you can come here and make a fast buck you will find that you face huge opposition from the local population ... and from the British government,... Continue reading ...
Kraft Foods remains the favourite to buy Cadbury, a leading industry analyst claimed even if US chocolate maker Hershey tables a bid for the Dairy Milk maker.
Andrew Wood, senior research analyst covering European food companies at Sanford Bernstein, said Kraft was still the front-runner to buy Cadbury. Wood suggested, however, that a "likely" bid from Hershey - either on its own or alongside Ferrero or Nestle - would mean an acquisition of Cadbury would not be the "steal" that Kraft had ho... Continue reading ...
CHICAGO (AdAge.com) -- Cadbury is the chess piece that could determine who leads the world's confectionery market, depending on whose hands the company ends up in.
If it lands in the portfolio of Kraft, that marketer would topple Mars from its perch as the globe's leading confectioner, a status Mars assumed after winning control of Wrigley last year. But now, Ferrero has confirmed an interest in acquiring Cadbury, and The Wall Street Journal reported that it is considering a linkup with Her... Continue reading ...
PHILADELPHIA (Reuters) – Kraft Foods Inc may raise its offer for British chocolatier Cadbury Plc or offer more cash in its bid if rival takeover offers emerge, a source familiar with the situation said on Sunday.
Kraft took a $16.8 billion hostile offer for Cadbury to shareholders two weeks ago. Most of the remaining large players in the global confectionery industry -- U.S.-based Hershey Co, Italy's Ferrero and Switzerland's Nestle -- are now weighing takeover bids themselves, according... Continue reading ...
Nov. 22 (Bloomberg) -- Nestlé SA is weighing options including a possible bid for Cadbury Plc that would challenge Kraft Foods Inc.’s offer and a potential move by Hershey Co., according to two people with knowledge of the matter.
Nestle is reviewing its options with bankers and may decide against a bid, said the people, who asked not to be identified because the talks are private. Hershey and Ferrero SpA said in statements last week that they were also evaluating options. Ferrero, the ... Continue reading ...
MILAN (Reuters) - Italian chocolate maker Ferrero could be interested in Cadbury's gum and candy division, a unit worth about 5 billion euros ($7.4 billion), in a possible joint takeover bid, business daily Il Sole 24 Ore said on Friday.
Unlisted Ferrero and U.S.-based Hershey Co are considering a joint offer for the British confectioner, which is the target of a hostile bid from Kraft Foods Inc. A Hershey-Ferrero takeover would have the goal of breaking up Cadbury, with Ferrero ending up ... Continue reading ...
Source: just-food.com
US chocolate giant Hershey and Italian chocolatier Ferrero have confirmed their interest in buying UK confectioner Cadbury. In seperate statements to the London Stock Exchange the two companies confirmed that they are each mulling a possible bid.
The news follows reports that the pair were in preliminary talks for a joint bid to counter the GBP9.8bn (US$16.45bn) hostile offer already on the table from US food giant Kraft Foods. Neither company made mention of the other... Continue reading ...
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In this blog I try to compile the news related with food industry. This includes food companies, retailers, ingredients, regulations, mergers&acqusitions and others. In each post I try to designate the source of the news and add a link to the original document.
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