Posted by Turgut Ziyal on Friday, July 8, 2011,
In :
companies
Kraft is modifying the marketing strategy for a number of its brands, in a bid to connect with younger, digitally-engaged consumers.The company, which owns Cadbury, Kool-Aid and Oreo, is attempting to adopt a more interactive approach for ranges such as Athenos, Mac & Cheese and Miracle Whip. In an example of the organisation's new model, it will roll out a nationwide advertising campaign for Miracle Whip. As part of this scheme, Kraft is to run a competition through which it plans to help cou... 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 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 Sunday, March 13, 2011,
In :
companies
Executives at US food group Kraft have been recalled by the UK parliament’s Business, Innovation and Skills Committee to give evidence again in relation to certain aspects of the controversial takeover of Cadbury last year. Kraft’s protracted pursuit and eventual £11.5bn takeover of Cadbury, eventually approved by the latter’s board in January, angered politicians and public alike, when the US group reversed a pledge, made during its bidding for the UK confectioner, to maintain 400 job... Continue reading ...
Posted by Turgut Ziyal on Monday, February 21, 2011,
In :
companies
Despite robust overall growth, Kraft is still suffering from costs associated with its £11.5bn Cadbury purchase, according to Kraft's full-year accounts. Overall organic revenue (which excludes mergers, takeovers, acquisitions and borrowing) grew 3.5%, but Kraft suffered a 26.2% negative impact on net revenue from the Cadbury acquisition in the fourth quarter of 2010 alone, compared with Q4 2009. High sugar, corn and cocoa costs also hit results, as the multi-national producer of Philadelphi... 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 :
companies
Kraft Foods is transferring part of the Cadbury business from UK to Switzerland in a move which could see it paying less corporation tax. The transfer of certain roles within Cadbury to Zurich would enable the company to save on UK tax bills, though Kraft confirmed that the move would not significantly affect Birmingham-based Cadbury's UK staff.
The rate of corporation tax in Zurich starts at 15 per cent, which compares favourably with the 28 per cent levied on companies in the UK. In Jun... Continue reading ...
Posted by Turgut Ziyal on Wednesday, November 24, 2010,
In :
confectionery
cadbury has confirmed that it will expand the production capacity for its confectionery portfolio in India.
Managing director Anand Kripalu said that capacity is a "challenge" for the firm and that Cadbury will be looking to "drive up volumes". Kripalu said the expansion will take place at the company's existing six facilities in India but declined to comment on investments and any additional output. Asked if Cadbury will be selling more products from Kraft portfolio, Kripalu said: "As of n... Continue reading ...
Posted by Turgut Ziyal on Tuesday, September 14, 2010,
In :
confectionery
Sweets showed impressive growth, but in terms of other segments within sugar confectionery, gum suffered a dramatic loss of sales in 2009 and mints are in a long term decline, finds a new YouGov Sixth Sense report on the UK confectionery market.
In 2009 the value of the total UK snacking confectionery market reached £4.9bn, which was an increase of around 4 per cent on the previous year, notes the publication, with the market analysts predicting that further growth this year will take the ... 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 ...
Posted by Turgut Ziyal on Tuesday, September 14, 2010,
In :
confectionery
Kraft owned UK confectioner Cadbury has launched Bliss, a chocolate bar targeting female consumers. Dairy Milk Bliss has a vanilla mousse centre and rounder edges than standard Dairy Milk bars. It will hit UK shelves next month.
Cadbury trade communications manager Susan Nash said: "We are hoping that people will take time out from their busy day to pamper their taste buds with our delicious new Cadbury Dairy Milk Bliss bar. It has performed very well during testing with 72% of those who tr... Continue reading ...
Posted by Turgut Ziyal on Tuesday, September 14, 2010,
In :
confectionery
Kraft Foods is reportedly planning to double the number of Chinese cities in which Cadbury products are sold in just two years. Lorna Davis, president and chairman of Kraft's business in China, told Reuters that the company would use its current distribution network in the country to build Cadbury's presence.The company plans, according to the report, to sell Cadbury products in around 40 Chinese cities within the next two years. Continue reading ...
Lotte Group has been granted permission to acquire Polish confectioner E.Wedel by the Polish competition commission. The UOKiK decided on 17 August that the concentration would not significantly restrict competition in Poland. Lotte had acquired Wedel business from Kraft which divests Romanian and Polish businesses of its Cadbury deal for EU approval. Around 1,000 Cadbury Wedel employees will transfer to Lotte Group. 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 ...
Posted by Turgut Ziyal on Wednesday, June 30, 2010,
In :
confectionery
Kraft Foods Co is revising the brands and countries it will focus on in developing markets as a result of its acquisition earlier this year of Cadbury Plc.
Cadbury Dairy Milk chocolates, Halls lozenges and Trident gum, three Cadbury brands, make the list of 10 "power" brands getting the bulk of the marketing money in developing markets, said Sanjay Khosla, Kraft's president, developing markets and global categories. They join Oreo cookies, Milka chocolate, Lacta chocolate, Jacobs coffee, Tan... Continue reading ...
Kraft Foods has signed an agreement to sell Wedel-branded confectionery operations in Poland interited from Cadbury to Lotte Group for an undisclosed sum. The sale includes the Wedel brands and is subject to regulatory approvals. With this deal around 1,000 Wedel employees will be transfered to Lotte Group.
Kraft will continue to utilize the remaining Cadbury brands and business in Poland, including the Halls brand and other non-Wedel-branded chocolate and sugar confectionery and two manufac... 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
Kraft Foods chairman and CEO Irene Rosenfeld has said that Kraft's first-quarter performance has "reinforced" the company's decision to buy Cadbury.The world's largest confectioner reported first-quarter net income of US$1.88bn for the three months to 31 March, compared with net income of $660m a year earlier.Sales rose 26% to $11.3bn thanks to the first contributions from the Cadbury business it acquired earlier this year.The combined companies' organic net revenues rose 3.9%, reflecting 3.3... 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 Monday, April 12, 2010,
In :
confectionery
Kraft, has recruited the services of HSBC and BNP Paribas to help divest it of the Polish and Romanian businesses of Cadbury, according to media reports.
The European Commission gave Kraft clearance in January for the acquisition of Cadbury with the condition that Kraft would have to sell the Romanian and Polish businesses of Cadbury to a third party as the takeover would cause competition concerns in those particular confectionery markets. Kraft’s major brands in Europe are Milka, Cote d... Continue reading ...
The UK Parliament’s Business, Innovation and Skills Committee, in its report published today, expressed concern that the takeover of Cadbury by Kraft was ultimately decided by institutional investors motivated by short-term profits rather than those investors who had the company’s long-term interests at heart. The politicians found that the takeover was particularly marred by the controversy over Kraft’s statements regarding the future of Cadbury’s Somerdale factory which was earmarke... Continue reading ...
Former Cadbury plc executive Jim Chambers has been named president of confectionery and general manager for Kraft Foods, Inc.’s Immediate Consumption Channel, North America.
He will oversee such Cadbury brands as Trident gum and Halls. According to the company, Chambers will be focused on growing the newly acquired gum business in the U.S., especially in the convenience channel.
Chambers, 52, was previously president for Cadbury North America and now reports to Kraft’s president of Nort... 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 Wednesday, March 10, 2010,
In :
confectionery
US chocolatier Hershey has launched new chocolate gifts for the Easter period.
The Hershey range includes three varieties of chocolate bunnies; a 5oz Hershey’s Solid Milk Chocolate Princess Bunny, Hershey’s Cookies ‘n’ Crème Bunnies and Hershey’s Bliss Milk Chocolate Bunnies with a Meltaway Centre.
A Cadbury range, for which Hershey holds the US licence, includes; Cadbury Clucking Bunny Plush Toy with a Cadbury Crème Egg, Cadbury Mini Eggs Candy and Cadbury Caramel Eggs.
In addition,... Continue reading ...
Posted by Turgut Ziyal on Friday, March 5, 2010,
In :
confectionery
Mr.Trevor Bond, Cadbury’s UK managing director, has been handed a new role overseeing Kraft Foods’ European businesses.
Mr.Bond is promoted to president (markets) of Kraft Europe, giving him responsibility for the group’s individual national business units.Kraft’s UK and Ireland MD, Mr.Nick Bunker, takes over the combined UK business of Kraft and Cadbury. They will both report to Kraft European president Mr.Mike Clarke.
Mr.Clarke said retaining Bond reflected the “‘best of both... Continue reading ...
Posted by Turgut Ziyal on Thursday, February 18, 2010,
In :
food news
U.S. food makers are looking overseas for more profitable growth over the next few years, as they often must rely on short-term price promotions to drive sales at home.
Kraft Foods Inc said its acquisition of Cadbury would accelerate long-term growth, though it expects the deal to hurt 2010 results."The U.S. consumer is all grown up, and future growth in consumer spending will be outside the U.S.," said Edward Jones analyst Matt Arnold.From that perspective, Kraft buying Cadbury makes a great ... 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 Wednesday, February 10, 2010,
In :
confectionery
Kraft Foods confirmed that it will push ahead with Cadbury's plans to close the Somerdale manufacturing facility in Keynsham, near Bristol. Cadbury had planned to close the Somerdale site and move production to Poland in a bid to cut costs. However, prior to Kraft's takeover of the UK confectioner, it indicated that it hoped to keep Somerdale open. Nevertheless, a week after securing shareholder approval for its acquisition, Kraft said that “extensive talks” with “senior management” ... Continue reading ...
The long story between Kraft and Cadbury has ended with a victory of Kraft. The shareholders of Cadbury have approved the acquision offer made by Kraft with a 70% majority. Todd Stitzer is stepping down as chief executive of Cadbury in the wake of shaqreholders' vote to accept Kraft Foods’ takeover bid. Joining him on the way out will be chairman Roger Carr and chief financial officer Andrew Bonfield. Their departure dates have yet to be set.While Stitzer and Carr were certain to leave fo... 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 ...
Kraft Foods said today that it has reduced the number of acceptances required to fulfil the conditions of its takeover offer for Cadbury to 50% plus one shares, from 90%. Cadbury shareholders have until Feb. 2 to accept Kraft's improved offer for the firm. Source: Market Watch Continue reading ...
Recently a group of initiators have build up a web site www.savecadbury.com targeting to prepare a petition for keeping Cadbury's British identity. The web site explains its aim as follows: " We aim to have one million names on our petition to stop the takeover of a Great British Institution by a faceless American corporation before it’s too late. Do your bit for Queen and Country by adding your name to the petition below. Simply add a comment with your name and town to electronically sign.... 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 ...
In the conference call, Kraft CEO Irene Rosenfeld had with Wall Street analysts, she mentiones several major synergy points of this tie-up. These will be the preliminery outcomes of this acquisition, aside from financial and/or tax benefits, feel free to comment on them or add more if you like: - Cadbury has more "instant consumption" channels like gas stations, cornershops which are well penetrated by Cadbury products in many countries ( also in Turkey where I live) wheras Kraft is more c... 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 ...
Cadbury Turkey announced today a management change. Mr. Ahjaz Ahmad Khan who is the managing director of Cadbury in Turkey, leaves as of end of February. He will be replaced with Mr. Konstantinos (Kostas) Vlachos who currently holds assistant general manager post in Cadbury PLC in charge of European Gum Cathegory. Mr. Vlachos also served as the marketing director in Turkey after acquision of Kent by Cadbury. 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 ...
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 ...
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 ...
The European Commission said on Wednesday it had given conditional approval for U.S. food group Kraft Foods Inc to take over British confectionery maker Cadbury. The European Union executive said in a written statement the hostile bid was conditional on Kraft's divestment of Cadbury's Polish and Romanian chocolate confectionery businesses.
The combination of Kraft and Cadbury would create the world's largest sweets, chewing-gum and chocolate group, overtaking Mars-Wrigley.
The Commission t... Continue reading ...
Wall Street Journal reported that investor Warren Buffett waded into the battle for Cadbury PLC, issuing a rebuke of Kraft Foods Inc.'s just-sweetened, nearly $17 billion takeover offer for the British confectionary company. As Kraft's largest shareholder—with a 9.4% stake—Mr. Buffett's holding company, Berkshire Hathaway Inc., said it wouldn't support the issuance of new shares to pay for a Cadbury deal. "To state the matter simply, a shareholder voting 'yes' today is authorizing a huge ... Continue reading ...
Kraft Foods has this morning (5 January) revealed plans to offer more cash to the shareholders of Cadbury. This happends after Kraft agreed to sell its North American frozen pizza business to Nestle. In this new offer Cadbury investors will have the chance to receive a "partial cash alternative". Meanwhile, in the wake of the pizza sale, Nestle, which had been also shown as a possible bidder for Cadbury, issued a statement to announce that "does not intend to make, or participate in, a for... 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 ...
Kraft Foods said yesterday (15 December) that it had received clearance from US competition authorities to proceed with its proposed acquisition of UK confectioner Cadbury.
In a statement to the London Stock Exchange, Kraft revealed: “The US competition condition to the offer is now satisfied.” According to a spokesperson for the company, Kraft now only requires regulatory clearance in the EU. Last week, the European Commission has exteded the deadfline for reviewing the proposals until... Continue reading ...
Cadbury yesterday (15 December) attacked predator Kraft Foods after the US food giant claimed Cadbury was opening its shareholders to "significant risk". Kraft, issued a statement and questioned the defense of Cadbury as an independent company which was centered on move to raise its sales, margins and dividend targets.Kraft questioned how the company could meet the loftier goals and insisted its bid would give better value to Cadbury investors.
"Kraft seem to have run out of ideas," a Cadbu... 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 ...
European regulators have pushed back the deadline for their review of Kraft’s $16.1bn bid for Cadbury after the American company offered concessions, they said on Wednesday.
The European Commission has extended the deadline by ten working days from December 14 to January 6, its daily list of mergers and takeovers under review showed. This is in order to review concessions put forward by Kraft to help ease anti-competition concerns, although European regulators did not give further det... 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 ...
American banks JP Morgan and Bank of America are ready to lend Hershey more than $7bn (£4bn) to help it bankroll a bid for Cadbury that would challenge an offer for the UK chocolate maker from Kraft Foods.
City sources say Hershey is ready to offer $17bn, trumping Kraft's $16.2bn bid, which has fallen in value because the shares component has been hit by a fall in its stock price.
Hershey, which is smaller than Cadbury and already has debts of around $1.5bn, would help to fund a bid by m... 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 ...
Posted by Turgut Ziyal on Monday, November 30, 2009,
In :
confectionery
Data sourced from Hindu Business Line; additional content by Warc staff,
27 November 2009
Cadbury, the confectionary giant, plans to greatly increase its advertising expenditure levels in India, as it seeks to drive growth in the country.
The UK-based firm posted sales of 1,587 crore rupees in the Asian nation last year, and is aiming to improve its revenue levels there by 20% on an annual basis going forward.
Currently, the typical consumer in the rapidly-developing economy eats just 54 grams ... 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 ...
Italian daily Il Sole 24 Ore reported in 17 November issue that family-owned Ferrero might be considering an offer with friendly investors for an alliance with UK confectioner Cadbury, the subject of a hostile bid from Kraft.
It is understood that the Italian chocolate maker has been approached by Mediobanca SpA about the partnership, the publication said.
Pietro Ferrero and his brother Giovanni, both chief executive officers, are said to both see a merger as an “opportunity”.
Ferrero ... Continue reading ...
I know everybody has got tired of Kraft's attempt to acquire Cadbury but this deal continues to be the most important development in food industry in recent months...So I keep informing you if any new and interesting bits of information is around:
The European Commission has set a one-month deadline to rule on the possible hostile takeover of Cadbury by US food giant Kraft, the EU competition regulator said on Wednesday.
It said it will decide by December 14 whether it considers that a... Continue reading ...
Up to 14 per cent of Cadbury's shares are estimated to be controlled by hedge funds that are betting that Krafty will increase its $16.2bn offer for the UK confectioner, this increase the probability that its hostile bid will succeed.
Brokers predict that towards the end of the bid battle, so-called merger arbitrageurs could own more than a quarter of Cadbury’s stock, potentially shifting the outcome of the deal in Kraft’s favour.
These funds aim to profit from the spread between ... Continue reading ...
The Cadbury board has rejected a formal bid from Kraft, launched just four hours ahead of the ‘put up or shut up’ deadline set by the Takeover Panel. At 13:00 GMT today, Kraft put in a £9.8bn offer – the same as its original expression of interest in September.
Chairman Roger Carr again branded Kraft a “low-growth conglomerate” and said Cadbury would perform more strongly as an independent business.
"The repetition of a proposal which is now of less value and lower than the curre... Continue reading ...
Kraft was finalising its plans to make a direct appeal to the shareholders of Britain’s best-known chocolate brand by Monday when a “put-up or shut-up” deadline enforced by the Takeover Panel expires, according to people familiar with the situation.
Cadbury was not expecting a last-minute friendly approach from Kraft over the week... Continue reading ...
As the time closes for Kraft to place new cards on trhe table for Cadbury takeover according to a Reuters report, which cited sources close to the situation, Kraft plans to keep a price increase off the table in order to retain the bargaining chip for later in the negotiation process. Such a move would effectively turn Kraft's bid hostile.
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 Thursday, October 29, 2009,
In :
food news
Todd Stitzer, chief executive of Cadbury, will this week face pressure from shareholders to prove that Britain's favourite chocolate manufacturer can deliver strong growth as an independent company, as a renewed takeover bid from US food giant Kraft looms.
Danone said it was prepared to spend a total of GBP 915m on acquisitions as the world’s largest yoghurt maker reported better than expected third-quarter sales and confirmed full-year guidance. Nestle, said it is even "leaner, fitter and ... 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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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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