Nestlé is in talks to buy leading Chinese confectionery firm Hsu Fu Chiin, a deal that would cost about $2.6bn.
Nestlé confirmed that it "is engaged in preliminary confidential discussions with Hsu Fu Chi." but added that it has no further comments to make at this stage. "Strategically, we would view the deal positively since it would give Nestlé access to China’s fast-growth $6bn confectionery market and allow the group a number of international cross-selling opportunities,” claim... Continue reading ...
Posted by Turgut Ziyal on Wednesday, May 4, 2011,
In :
food news
Food brands, quick service chains and grocery retailers stand to benefit from a huge surge in sales across China - but also face sizeable obstacles to long-term growth. A study by the Boston Consulting Group suggested an "unprecedented shift" in eating habits now underway throughout the world's most populous nation is set to have a "transformational impact." In the first instance, such a transition encompasses greater expenditure levels, alongside incorporating moves towards different categori... Continue reading ...
Posted by Turgut Ziyal on Monday, January 17, 2011,
In :
companies
Campbell Soup Company is seeking to enhance its position in China and exploit shoppers' changing habits. The US firm is forming a joint venture with Swire Pacific, which is based in Hong Kong and has previously distributed some of Campbell's products. Campbell's estimated that 355bn servings of soup are consumed in the world's most populous nation every year, but nearly all of them are home made. When combined with the rapid expansion of the middle class, and the heightened desire for convenie... Continue reading ...
Posted by Turgut Ziyal on Monday, January 17, 2011,
In :
companies
Starbucks is seeking to establish a presence in India, a market it believes could ultimately rival China in importance. The US multinational has signed a memorandum of understanding with Tata Group, a conglomerate active in sectors from the auto industry to consultancy. Tata Coffee is one of the country's biggest coffee producers, and owns the Eight O'Clock Coffee grocery brand, created by US retailer A&P in 1859, acquired from Gryphon Investors in 2005. Howard Schultz, Starbucks chief executiv... Continue reading ...
Posted by Turgut Ziyal on Monday, January 17, 2011,
In :
health
Nestlé and PepsiCo are capitalising on local beliefs in the effectiveness of traditional folk medicine in a bid to capitalise on growing health concerns among Asian consumers. Five of Nestlé's most promising lines are already being tested in China.In total, Nestlé is to invest $500 million (€370m; £314m) globally over the coming decade on health foods. One of the company's ongoing clinical trials involves a mulberry yogurt for diabetics that supposedly aids the digestion of glucose. Other... 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 ...
Heinz is to enter the soy sauce business in China through the acquisition of local firm Foodstar from private-equity fund Transpac Industrial Holdings.The US food giant is to pay US$165m for the business, with the potential for a further payment in 2014 based on the performance of the Chinese firm.Heinz, which markets Amoy soy sauces in markets around the world, including the UK, said China's retail soy-sauce market was worth $2bn and growing at 7-8% a year. Continue reading ...
Posted by Turgut Ziyal on Friday, June 11, 2010,
In :
beverages
Danish brewer Carlsberg is looking for further acquisitions in Asia after raising its stake to nearly 30 percent from from 17.5 percent in the Chinese brewer Chongqing Brewery Co Ltd , the group's chief financial officer said on Thursday.
Mr.Jensen, the CFO of Carlsberg, said Carlsberg has a strong foothold in western China, and it will be looking eastwards for further acquisitions "though not necessarily all the way to the coast." He added that Carlsberg was not interested in buying brewi... Continue reading ...
Posted by Turgut Ziyal on Tuesday, May 25, 2010,
In :
beverages
PepsiCo plans to invest US$2.5bn in its food and beverage businesses in China over the next three years. This investment is in addition to a $1bn investment pledged in 2008, which will be completed this year. The money will be spent on new manufacturing facilities, the company's research and development operations, expanded agricultural development and brand building.
PepsiCo plans to open 10-12 plants in China to manufacture soft drinks, non-carbonated beverages and snacks and will install... Continue reading ...
Posted by Turgut Ziyal on Monday, May 3, 2010,
In :
confectionery
Products such as confectionery, biscuits and juice products are experiencing double-digit growth in China and this consumer demand fuels an increase in the country’s sugar imports, according to a US Department of Agriculture (USDA) report. According to this report China's sugar imports, traditionally around the one million tonnes mark, are forecast to rise to 1. 5 million tonnes in 2010-11.
China’s economy has grown fast in the last few decades, and the food and drink sector has seen a b... Continue reading ...
Posted by Turgut Ziyal on Friday, February 12, 2010,
In :
FMCG
PepsiCo plans to stregnthen its global leadership"in snacks in 2010 through acquisitions and the development of healthier products. The firm reported yesterday (11 Feb.) a 16% increase in full-year profits, driven by gains in its worldwide snack and international beverage businesses.
CEO and chairman Indra Nooyi said they will continue to grow our current businesses in developed markets and will extend their reach into new markets with targeted acquisitions,said also they will continue to ... Continue reading ...
Posted by Turgut Ziyal on Friday, December 25, 2009,
In :
retail
Retail sales are continuing to rise in China, in a further sign of the resilience of the country's economy during the recession. The National Bureau of Statistics has reported that retail revenues in China expanded by 15.8% in November, to 1.13 trillion yuan ($165.5bn; €116.1bn; £103.8bn), although this rate of growth was down by 5% year-on-year. Urban areas delivered an increase of 16.5%, to 760.6 billion yuan, compared with an improvement of 14.4%, to 373.3 billion yuan, in rural markets. O... Continue reading ...
Employees from a Chinese dairy company have been taken into police custody on suspicion of selling tonnes of melamine-tainted milk powder.
Three people from the Shaanxi Jinqiao Dairy Co, in northern Shaanxi province, have been detained and accused of producing and selling toxic food, Chinese state media reported yesterday.
The police operation comes just over a year after a nationwide contamination scandal involving the lacing of milk powder with the industrial chemical killed six and s... Continue reading ...
The judgment handed down by a Swedish arbitration tribunal on September 30 was a victory for Danone over Zong Qinghou, the French food group’s JV partner since 1996 and founder of beverage-maker Wahaha Group. A three-member tribunal convened by the Stockholm Chamber of Commerce’s Arbitration Institute ruled that Mr. Zong had breached confidentiality and non-competition agreements.
The tribunal also ordered that Mr Zong should stop using the Wahaha Trademarks and any other intellectual ... 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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