Business News

Tyson Foods to Stop Using Antibiotics in Chicken

24 Feb 2017 --- Tyson, the second-largest poultry company in the world has announced that it will stop using antibiotics on its chickens by June 2017. The decision to end the use of antibiotics is expected to cover all of the company’s branded chicken products, as well as the NatureRaised Farms brand.

Greek Brewers File €100m Lawsuit Against Heineken

24 Feb 2017 --- Independent Greek brewery, Macedonian Thrace Brewery (MTB), has filed a €100-plus lawsuit again beer giants Heineken and its Greek operating company Athenian Brewery following a 12 year investigation. MTB filed the major legal action against Europe’s largest brewer and its 98.8%-owned Greek operating company, Athenian Brewery (AB), in connection with it describes as  “nearly two decades of anti-competitive market abuse.”

EU Regulators Poised to Approve DuPont Dow Chemical Merger

23 Feb 2017 --- Questions are being raised about the imminent US$130 billion Dow Chemical and DuPont merger after US media reports are circulating claiming the European Union regulators are on the verge of approving the deal. 

Tate & Lyle Opens CO2 Efficient Plant After $60 Million Investment

23 Feb 2017 --- Tate & Lyle PLC has opened itsnew co-generation plant at its corn wet milling facility in Loudon, Tennessee. 

Strong Growth in a Volatile Market for Arla

23 Feb 2017 --- Arla have delivered a solid business performance throughout 2016 and made a strong start to the delivery of its strategy, Good Growth 2020, despite highly volatile milk markets. While revenue declined due to the global price environment, Arla continued to improve the quality of its sales by moving more milk from bulk to brands, and Arla’s net profit grew 20.7 per cent to EUR 356 million.

Mondelez Launch New Well-Being Brand as Takeover Speculation Mounts

22 Feb 2017 --- Speculation is mounting that Mondelez International could be a takeover target for Kraft Heinz after the company pulled out its bid for Unilever earlier this week, prompting conjecture that merger attention will be turned to the US confectionery giant. Shares in Mondelez have increased as a result, closing at US$44.97 on Tuesday, an increase of around 5.8%. 

Glanbia Reports Double Digit Growth, Proposes JV with Irish Dairy Co-op

22 Feb 2017 --- Glanbia have reported its seventh year of double digit growth, with operating profit of nearly $262.8m (€250m), up from $223.9m (€213m).

Kerry Reports Strong Growth, McCarthy to Retire as CEO

21 Feb 2017 --- The CEO of Kerry Group has announced he is stepping down just at the company releases its preliminary results for last year which reveal a slight climb in revenue to €6.1billion (US$6.4billion). After nine years as CEO, Stan McCarthy, will retire as chief executive in September and as a director of the Group by the end of the year. 
Taking over as chief executive designate will be Edmond Scanlon who is currently president and CEO Kerry Asia Pacific. 

Record Food and Drink Exports for Britain

21 Feb 2017 --- The amount of food and drink exports in 2016 jumped by 10.5% to a record figure of more than £20bn (US$24.8) billion) as UK manufacturers responded to rapid growth in demand for quality produce, the Food and Drink Federation has said.

VTT Create Vision for Smart and Consumer-Centric Food Production

20 Feb 2017 --- We are moving into the era, where food production and digitalization will merge to form a new food economy, according to VTT Technical Research Centre of Finland. The transition is already under way – led by consumers. Together with companies in the sector, VTT has created three change paths towards the Food Economy 4.0. They are based on identified drivers and emerging technologies.

Kraft Withdraws $143 Billion Offer for Unilever Offer After Opposition

20 Feb 2017 --- Kraft Heinz Co. has withdrawn its $143 billion bid for Unilever two days after the approach became public amid stiff opposition from the Anglo-Dutch target to engage in discussions. Kraft Heinz blamed its withdrawn offer on early deal leaks, which it said thwarted efforts to negotiate a merger on a friendly basis. 

Ardagh IPO Imminent, Likely Valuation Around €5 Billion

20 Feb 2017 --- Glass packing manufacturer, the Ardagh Group, is gearing up for its long-awaited New York Stock Exchange flotation with the stock exchange launch expected in the coming days.

Organic Revival in UK as Retail Sales Increase

20 Feb 2017 --- Sales of organic food is increasing across all sectors, according to retailers, as the UK’s appetite for organics rises with consumers willing to pay more for premium products.

Campbell Soup Sales Slip in Q2, Impacted by Fresh Foods

20 Feb 2017 ---- Campbell Soup has reported lower-than-expected quarterly sales, hurt by weak demand for its beverages, broth and condensed soups, sending its shares down by 8 percent. The fall was Campbell's biggest percentage loss in over eight years, after the soupmaker also said it did not expect sales to rise in its C-Fresh unit in fiscal 2017.

ANALYSIS: A Unilever-Kraft-Heinz Merger – This is Not About Brands

19 Feb 2017 --- All of the financial world, and the food industry in particular, were stunned last Friday, when it emerged that Kraft-Heinz (KH) had made a stupendous US$143 billion offer for Anglo-Dutch FMCG giant Unilever. Combining the two companies, which will encompass brands that range from Dove soap to Philadelphia cheese to Heinz baked beans, will "create a leading consumer goods company with a mission of long-term growth and sustainable living," said Kraft in a statement. 

Kraft Heinz Confirms Merger Move for Unilever

17 Feb 2017 --- Kraft Heinz has made a merger offer for Unilever, it announced today. In a statement Kraft said Unilever had declined an initial offer to combine the two groups, but added they were still in talks. Speculation was sparked by the Financial Times’s Alphaville site, which reported this morning that an approach had been made. UK-listed shares in Unilever shot up 9.5 per cent to 3,679.5p on the news.

Profits Drop at Dean Foods, Caused by Weak Demand for Milk

17 Feb 2017 --- Dairy distributor Dean Foods have reported an increase to its Q4 earnings, but gave a downbeat 2017 outlook as milk volumes are still expected to come under pressure. The company forecast adjusted earnings of $1.35 to $1.55 per share for the current fiscal year and earnings of 12 cents to 20 cents a share for the first quarter. 

Hain Celestial Expands into Premium Soup Offerings, Acquires Yorkshire Provender

17 Feb 2017 --- The Hain Celestial Group have announced that one of its wholly-owned subsidiaries has entered into a definitive agreement to purchase The Yorkshire Provender Limited, which is subject to formal clearance from the Competition and Markets Authority in the United Kingdom.  

Lidl Gearing Up for US Expansion

17 Feb 2017 --- European discount retailer Lidl is making a move to open in the US with plans to launch the first store this summer and create 100 more in a supermarket shake up that is bound to disrupt the American retail landscape. 

Nestlé Targets 2-4 Percent Growth as Company Reports Profit Loss

16 Feb 2017 --- Nestlé, which makes KitKats, Nescafe and Purina pet food, have reported its figures for full year 2016. The company has said it will steepen its cost-cutting plan after unveiling disappointing results. Net profit for 2016 fell to 8.5bn Swiss francs ($8.4bn) from 9.1bn Swiss francs ($9bn) a year earlier. Analysts had expected 9.59bn Swiss francs'($8.4bn) worth of profit.