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 Friday, June 4, 2010,
In :
regulations
Kellogg has agreed to pull a health claim it made on Rice Krispies in the US. The cereal giant had advertised its Rice Krispies brand as helping "support your child's immunity". However, after a probe by the Federal Trade Commission, Kellogg has agreed to not make claims about any potential health benefits unless it has scientific evidence, the watchdog said.
The deal is the second Kellogg has made with the FTC. Last year, the US food giant agreed to stop making a claim that its Frosted Mini... Continue reading ...
Posted by Turgut Ziyal on Wednesday, February 10, 2010,
In :
FMCG
Kellogg Company today announced solid operating profit growth for the full-year and fourth quarter 2009.Reported earnings for full-year 2009 were $1.2 billion, or $3.16 per diluted share, an increase of 6 percent from full-year 2008 of $1.1 billion, or $2.99 per diluted share which included a 53rd week in the fourth quarter of 2008. On a currency neutral basis, full-year 2009 earnings per share grew 13 percent. Reported earnings in the fourth quarter of 2009 were $176 million, or $0.46 per d... Continue reading ...
Posted by Turgut Ziyal on Wednesday, January 27, 2010,
In :
new products
Kellogg has expanded its line of Special K products in the US with the introduction of Special K low fat granola and Special K fruit crisps. The new Special K granola contains 3g of fat per 52g serving, 190 calories and six grams of protein and five grams of fibre.
Meanwhile, the company is also bringing out Special K fruit crisps as a “healthier” snacking option. At 100 calories pre serving, the new bars are available in Strawberry and Blueberry flavours.
"When managing their weight ... Continue reading ...
Posted by Turgut Ziyal on Thursday, November 5, 2009,
In :
Marketing
The Kellogg Company, the cereal giant has appointed advertising agency Leo Burnett to handle its global advertising business, except for the Asia Pacific region, according to sources. Leo Burnett replaces JWT Worldwide. The appointment follows a review, first reported in August, that the company was reviewing its ad agency roster in a bid to reduce the number of marketing communications suppliers it employs and cut costs.
Kellogg posted a double-digit increase in its advertising expenditure ... 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 ...
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About This Blog:
| getfoodnews |
| Turgut@Getfoodnews.Com |
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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