Posted by Turgut Ziyal on Saturday, December 24, 2011,
In :
confectionery
An interesting and short presentation compiled by confectionery.com: click here Continue reading ...
Posted by Turgut Ziyal on Monday, October 31, 2011,
In :
companies
Ferrero has announced plans to build a new factory in Turkey in the province of Manisa to strenghten its position in Turkish confectionery market that has grown 120% since 2004, according to figures from Mintel. The news comes just a few days after the Italian group opened a production site in India, another emerging confectionery market with huge potential. Turkey is not only a strategic country for Ferrero as a supplier of commodities but also as a growing domestic market. The investment ... Continue reading ...
Posted by Turgut Ziyal on Sunday, March 13, 2011,
In :
confectionery
Cadbury India, as part of the Kraft Foods Group, is to introduce the Oreo biscuit brand to India. The introduction marks the entry into a new category in India. “Oreo is the number one biscuit in the world by value and enjoys market leadership in many markets including the US and China,” says Anand Kripalu, president, South Asia & Indo-China, Kraft Foods, and managing director, Cadbury India. He adds, “Introducing Oreo marks the beginning of our journey in this growing category. The Ind... Continue reading ...
Posted by Turgut Ziyal on Thursday, February 24, 2011,
In :
companies
Kraft, the food giant, believes enhancing the quality and performance of its marketing is the "single biggest" factor that can fuel future growth. Speaking at the Consumer Analyst Group of New York conference, Irene Rosenfeld, Kraft's chief executive, summarised the corporation's objectives. "Our focus today is squarely on driving growth from our position as a global snacks powerhouse, combined with our unrivalled portfolio of regional power brands," she said. Collectively, these products cont... Continue reading ...
Posted by Turgut Ziyal on Wednesday, February 23, 2011,
In :
companies
Two of the leading global food and beverage companies reported their 2010 financial results in the first two weeks of February. Both Unilever and Kraft Foods reported strong growth in their net sales, but profit margins remained largely flat, impacted by a number of factors.
The increase in input costs, the still weak economies in core developed markets and tough competition in terms of pricing, particularly from private label products, were the main issues impacting most industry players.
Re... Continue reading ...
Posted by Turgut Ziyal on Tuesday, December 28, 2010,
In :
confectionery
Chewing gum brands Wrigleys and Trident plan to launch new and developed functional gum products in early 2011, supporting the predictions made by Euromonitor that “strong growth” is predicted for the confectionery category over the next four years.
Kraft-Cadbury is to launch Trident Vitality in the US, which will be available in three flavours. The range includes a citrus and strawberry flavour that according to the company contains 10 per cent of the daily value of vitamin C per sti... Continue reading ...
Posted by Turgut Ziyal on Monday, December 6, 2010,
In :
confectionery
Asian group Lotte has plans to expand the production capacity of Polish confectionery manufacturer Wedel by investing over €200m into the company, according to a Polish media outlet. The funds will go towards the construction of five new plants in Poland, reports Rzeczpospolita, citing unofficial sources. The article notes that Lotte will make a preliminary investment of €70m with the remainder of the financing to be phased in.
The Japanese-Korean giant has publically stated its intenti... Continue reading ...
The owners of United Biscuits has ended exclusive talks with China-based Bright Food to sell the UK biscuit manufacturer and are opening the possible GBP2bn (US$3.21bn) sale to new bidders, according to reports.
According to Reuters reports, PAI Partners and Blackstone, the private equity owners of United Biscuits, are likely to invite Kraft, Campbell Soup Co and Kellogg, which all looked at the company before it entered exclusive talks with Bright Food, back into the process.
Unnamed sou... Continue reading ...
Posted by Turgut Ziyal on Tuesday, September 14, 2010,
In :
confectionery
Barry Callebaut has secured a deal to supply cocoa products and industrial chocolate to Cadbury owner Kraft Foods. The deal is a major change for Kraft, which had previously only outsourced a small part of its production.However, Cadbury already had a major supply agreement in place with Barry Callebaut.
The agreement announced today includes some of the liquid chocolate Barry Callebaut supplied to Cadbury but is expected to double the Swiss firm's business with Kraft. The deal also means ... Continue reading ...
The private equity owners of United Biscuits have hired JPMorgan and Goldman Sachs to run a £2bn ($3bn) auction for United Biscuits that is expected to attract some of the world’s biggest food groups.
UB, which has revenues of £1.3bn and net debt of £1.2bn, has continued to expand in spite of the UK recession, increasing operating profits to £223.4m last year.
Owners of UB are considering splitting the business into two parts – snacks and biscuits – to make it more palatable for... Continue reading ...
Posted by Turgut Ziyal on Tuesday, August 3, 2010,
In :
confectionery
Cadbury UK owned by Kraft has launched its marketing campaign for the London 2012 Olympics. Cadbury's "Spots v Stripes" program aims to make people in the UK and Ireland play games along with the olimpics. Cadbury is the official treat provider for the Olimpics.
Consumers are being invited to sign up to a website, where they can win points by organising and playing games in their schools, workplace and neighbourhoods.The campaign will be taken nationwide throughout the summer, with events ... 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 Wednesday, May 12, 2010,
In :
innovation
Reading Scientific Services (RSSL) will house an expanded global science and technology centre supporting Kraft worldwide following a radical restructuring that will also see Cadbury Bournville transformed into a global centre of excellence for chocolate research. The move formed part of a broader announcement in which Kraft revealed plans to shut down its Cheltenham HQ and relocate commercial, administrative and other support staff to Bournville and Uxbridge.
Under the proposals, Bournvill... Continue reading ...
Posted by Turgut Ziyal on Monday, May 10, 2010,
In :
confectionery
US chocolate manufacturer, Hershey, said it is still open to international expansion and it claims acquisitions will be made easier by the fact that the global chocolate markets are still fragmented. Hershey CEO Mr.David West stated, at the manufacturer’s annual general meeting that the company still sees opportunity to grow abroad due to recent consolidation in the sector. Industry analysts claimed Hershey would face a tougher global competitive environment following Kraft’s recent acqu... Continue reading ...
Posted by Turgut Ziyal on Wednesday, March 17, 2010,
In :
confectionery
Lindt & Sprüngli revealed that its 2009 fiscal year profits dropped by 35.4% as the economic downturn hit demand for its premium chocolate products. Lindt says that the global economic crisis caused the chocolate market have decline in sales for the first time in ten years. Price conscious consumers also increasingly looked to private label products, Lindt also mentions that the currency fluctuations and higher cocoa prices reduced their profitability.
Looking to the coming year, Lindt fore... Continue reading ...
Posted by Turgut Ziyal on Thursday, February 18, 2010,
Hershey Co CEO David West does not think the charitable trust that has the controlling vote at the largest U.S. chocolate maker stops him from running the company the way it should be run."I don't feel any roadblocks because of that ownership structure," West said during an interview on the sidelines of the Consumer Analyst Group of New York conference.
Hershey is getting ready to battle the new No. 1 in the world confectionery business when Kraft Foods Inc closes its $18.4 billion acquisiti... Continue reading ...
Posted by Turgut Ziyal on Friday, February 12, 2010,
In :
confectionery
Kraft Foods' purchase of Cadbury is likely to have repercussions throughout the cocoa supply chain as a newly created chocolate giant seeks to drive down costs. The new company will be the top player in the chocolate and confectionery industry by revenue, overtaking Mars-Wrigley. Accordingly, traders and analysts expect it to use its increased clout to achieve promised cost savings. The U.S. food group has targeted annual cost savings of at least $675 million a year.
Cocoa futures on ICE rose ... 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 ...
U.S. chocolate maker Hershey Co has decided not to launch a counterbid for British confectioner Cadbury Plc following a unanimous vote by its board late on Wednesday, the Financial Times said, citing a person briefed on the matter. Source: Financial Times Continue reading ...
Some people who have internal access claim that Hershey is preparing a counter-bid to Kraft hostile offer for Cadbury. They say that Hershey can make a formal offer before the January 23 deadline, .
Such a Hershey bid would certainly be welcomed by Cadbury. Although Cadbury has not solicited a “white knight” bid from Hershey publicly, the confectioner has made clear that it would prefer Hershey to Kraft.
Roger Carr, the UK company’s chairman, has told the Financial Times that Her... 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 ...
Cadbury showcased robust 2009 results and an upbeat outlook on Tuesday in its last move to rebuff U.S. food giant Kraft Foods' 10.5 billion pound ($17 billion) hostile takeover bid.
In a final defense document, the British confectioner said Kraft's "derisory" offer valued Cadbury lower than any comparable deal in the sector and that its standalone value had risen since the Kraft bid emerged last September.
"Our performance in 2009 was outstanding. We generated good revenue growth despite th... Continue reading ...
Cadbury workers – as well as some politicians – fear that a foreign takeover could lead to local job losses and pay cuts in the UK and Ireland. Len McCluskey, assistant general secretary of Cadbury’s trade union Unite, said in a statement: "Cadbury is a great UK success story – and it was and is not for sale. But suddenly, a hostile bid and swarming speculators has thrown its future, its investment plans and the jobs of thousands of workers here and in Ireland up in the air.” The ... Continue reading ...
The comments by Roger Carr, Cadbury's chairman, came in a formal defence document issued to its shareholders today designed to thwart a £9.8bn hostile bid from Kraft.
Alongside the verbal rebuttal, Cadbury also laid out a series of targets for the next four years which it hopes will be enough to persuade shareholders to knock back Kraft's existing offer. They are:
Organic revenue growth of 5pc to 7pc a year
Margins of 16pc to 18c by 2013
80pc to 90pc operating cash conversion from ... 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 ...
Hershey's controlling Trust has belatedly accepted that, without doing a deal, the chocolate company faces slow decline. That removes one obstacle to Hershey challenging Kraft in the battle for Cadbury.
Hershey will struggle to acquire a company twice its size. Given limited geographical overlap, moreover, synergies would probably be less than Kraft’s targeted $625m a year. A mooted $17bn offer, including $10bn cash, would leave combined Hershey- Cadbury with debt of five times earnings be... Continue reading ...
In last couple of days news about Cadbury- Kraft deal comes one after the other. So when we start a new week we have practically three options analysts talking about:
- Kraft
- Hershey and Ferero coalition
- Nestlé may bid as well
But when all the rumors and analysis read carefully, what I see as the most interesting option would be a Hershey bid backed by Nestlé. Nestlé definetely will not like to see a "Kraftbury" threat to its chocolate market, but it cannot make a direct bid to Cadb...
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 ...
Hershey Co., the chocolatier from US and Ferrero SpA, the Italian chocolate manufacturer are said to be considering a joint bid for Cadbury which is the target of a hostile bid from Kraft according to a recent Reuters news..
Inside sources say there is no direct contact yet, but Cadbury may welcome such a joint offer. However nome equity analysts claim that neither Hershey nor Ferrero is financially strong enough for such a bid and this is unlikely.
My interpretation of such news is that som... Continue reading ...
summarized from an article fromThe Times 02 November 2009 written by Helen Power
Kraft is set to make a hostile bid for Cadbury within a week. Under Takeover Panel rules, the American food group must bid for the British maker of Creme Eggs, Dairy Milk and liquorice allsorts by 5pm next Monday or walk away for six months.
Should Kraft make a hostile bid, it is likely that the outcome will not be decided until well into next year.
The American food maker offered 745p a share for its target ... Continue reading ...
Posted by Turgut Ziyal on Tuesday, October 20, 2009,
In :
confectionery
19 October 2009| Source: just-food.com
Cadbury, currently under siege from a Kraft takeover bid, is gearing up to deliver one of the most crucial interim management statements in the company's history this week.
Last month, Cadbury's board rejected a GBP10.2bn (US$16.63bn) initial approach from Kraft and the UK confectioner will likely be hoping to deliver a defensive showing when Cadbury unveils its third-quarter numbers on Wednesday (21 October).
Indeed, accordi... Continue reading ...
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About This Blog:
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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.
I hope you find it useful. For any comments please feel free to send me an email (turgut@getfoodnews.com). You can post your comments inside the boxes appearing at the end of each posting when clicked the headline.
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