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 13, 2010,
In :
confectionery
Hershey considers to start selling its confectionery in the UK and Europe. Until now, Hershey has been mainly existing on the North American confectionery market. International sales are making up only 14 per cent of Hershey’s total revenues of $5.3bn in 2009. However, since 2009 Hershey has shown strong signs of expansion to Europe as well. Infact in August, the company has established a European subsidiary in London and last year Hershey has been named as a potential bidder for Cadbury d... 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 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 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 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
The Hershey Company today announced sales and earnings for the fourth quarter ended December 31, 2009. Consolidated net sales were $1,407,336,000 compared with $1,377,380,000 for the fourth quarter of 2008. Reported net income for the fourth quarter of 2009 was $126,779,000 or $0.55 per share-diluted, compared with $82,155,000 or $0.36 per share-diluted for the comparable period of 2008.
For the full year 2009, consolidated net sales were $5,298,668,000 compared with $5,132,768,000 in 2008, a... 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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
Posted by Turgut Ziyal on Thursday, November 19, 2009,
In :
confectionery
The confectionary giant Hershey has launched a new range of travel retail exclusive products including Hershey’s Kisses, Hershey’s Nuggets chocolates and Reese’s and Hershey's Miniatures.
The conical-shaped Hershey’s Kisses will be packaged in multiple variants designed for formal and informal gifts. Four varieties of the product will be offered in both box and pouch packaging. Hershey’s Nuggets chocolates are now being sold in a travel retail exclusive format initially in one v... 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 ...
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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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