Business News

Trade war: US farming industry fears it’s in the firing line

04 Jun 2018 --- The US agricultural industry is bracing itself to feel the full force of any potential trade war between America and the European Union as well as other nations who may retaliate against President Trump’s tariffs on steel and aluminum. 

Alcohol excise duty: Europe plans to reshape 25-year-old rules

28 May 2018 --- The European Commission plans to reshape 25-year-old rules governing excise duty on alcohol because they need to be modernized to keep pace with the advances of technology and trade opportunities that are present today.

Brexit manifesto: UK food and farming sector calls to uphold frictionless trade

28 May 2018 --- As the clock counts down to the UK leaving the European Union in March 2019, more than 100 organizations have joined forces to set out the key principles for a positive Brexit. A drawn up manifesto stresses the need for positive outcomes on trade, labor, regulation and domestic agricultural policy.

Garden Gourmet makes UK debut: Nestlé targets flexitarians

28 May 2018 --- Nestlé is bringing the Garden Gourmet food brand to the UK, "offering delicious and healthy meat-free products for food lovers looking to cut down on meat but not wanting to compromise on taste." Answering the popular consumer lifestyle trend; flexitarianism, or eating less meat and more plant-based protein, Garden Gourmet is claimed to offer an exciting variety of “scrumptious meat alternatives” made with the highest quality ingredients.

Pepsi acquires Bare Snacks, expands better-for-you portfolio

28 May 2018 --- PepsiCo, Inc. has entered into a definitive agreement to acquire Bare Foods Co. (doing business as Bare Snacks), a US-based maker of baked fruit and vegetable snacks. The transaction will expand the company's snacking portfolio and further deliver on its Performance with Purpose vision to offer consumers more positive nutrition options.

Tesco to cut food waste by ditching fruit and vegetable “Best Before” dates 

22 May 2018 --- UK retailer Tesco is scrapping “Best Before” consumption guidance dates from almost 70 fruit and vegetable lines in its latest move to help reduce food waste. The move is being made to help prevent perfectly edible food from being thrown away and is part of the supermarkets ongoing efforts to cut waste. It follows a recent campaign by the National Federation of Women’s Institutes (NFWI) into causes of food waste which found that less than half of respondents understood the meaning of “Best Before” dates.

IFF CEO on Frutarom buy: Access to a broader middle market minimizes supplier exposure

22 May 2018 --- Andreas Fibig, CEO of International Flavors & Fragrances (IFF), has identified the broad base of small and medium-sized customers as a key benefit in acquiring Frutarom in a “transformational move” for the company. A base of 30,000 customers from the legacy Frutarom business compared to just 3,000 for the much larger New York-headquartered company, could provide an opportunity to replicate IFF’s Tastepoint model that has proved to be successful in meeting the needs of small and medium businesses in the US since its inception last summer.

Kraft Heinz reports lackluster Q1 sales

15 May 2018 --- Kraft Heinz has reported its first-quarter 2018 results which show net sales dropped 0.3 percent to US$6.3bn in the three months to the end of March, while organic net sales fell 1.5 percent overall.

Vying for the top spot: IFF’s takeover of Frutarom shakes up flavors industry

09 May 2018 --- As the dust settles on the International Flavors & Fragrances (IFF) and Frutarom US$7.1bn deal, all eyes are on the flavors and fragrances industry as the takeover is expected to shake up the sector when the company goes up against current market leader Givaudan.

DSM reports temporary vitamin price benefit in Q1, raises 2018 outlook

09 May 2018 --- Dutch-based Royal DSM this week issued its full Q1 2018 results, which are in line with the previously announced preliminary figures for Q1 2018 on 12 April 2018. Highlights include continued strong organic sales growth in underlying business estimated at 11 percent, additional temporary vitamin price benefit estimated at €165 million (US$195.3 million) on Adjusted EBITDA and total Adjusted EBITDA up 56 percent and Net profit up 122 percent to €331 million (US$391.8 million).

Raisio’s Q1 net sales reach €67.8m as company focuses on healthy food 

07 May 2018 --- Finnish food group Raisio has published its interim report for the first quarter of 2018 stating net sales of €67.8 million while comparable EBIT was €7.4 million, accounting for 10.9 percent of net sales. The company, which is behind the brands Benecol, Elovena, Nalle and Sunnuntai, has gone through some group structure renewals, including two divestments in confectionery and cattle feeds business. 

Tereos: Export opportunities key to keeping ahead in dynamic times

07 May 2018 --- French-headquartered group Tereos is undergoing some significant transformational changes. In the first months of 2018, the merging of the sugar beet, potato starch and alfalfa cooperatives into a single entity was unanimously approved.

Nestlé Purina PetCare acquires majority share in pet nutrition business Tails.com

01 May 2018 --- Nestlé Purina PetCare has acquired a majority stake in Tails.com, a UK-based, direct-to-consumer, tailor-made dog nutrition business. With the growth of personalized pet nutrition rising rapidly, Nestlé Purina’s shareholding in this digital-first business offers significant growth opportunities for both companies.

Eurofins acquires Covance Food Solutions in US$670 million deal

01 May 2018 --- Eurofins Scientific has signed an agreement with LabCorp to acquire Covance Food Solutions, in a deal worth US$670 million. The transaction is expected to close in the third quarter of 2018, subject to the fulfillment of regulatory and customary closing conditions.

New UK supermarket giant: Asda-Sainsbury’s “pivotal” merger fuels fears of a supplier squeeze

30 Apr 2018 --- Sainsbury’s and Walmart's UK supermarket chain Asda are joining forces in a deal worth £15 billion (US$20.67 billion) to create a dynamic new player in the retail market with a huge breadth of products and multiple channels that are expected to shake-up Britain’s retail space. And the repercussions have already started as Sainsbury’s shares have surged 20 percent following confirmation of the tie-up this morning (April 30), while there are concerns that the combination will put a serious squeeze on some of the leading food suppliers – including the likes of PremierFoods, Greencore, Cranswick and Dairy Crest – and could lead to job losses at both Sainsbury’s and Asda stores.

Sainsbury's and Asda close to UK retail merger

28 Apr 2018 --- J Sainsbury and Wal-Mart, the world's biggest supermarket retailer, are in advanced talks about a tie-up that would create ‎a more powerful rival to Tesco, the UK market leader. A merger between the UK’s second and third largest supermarket chains would create a new group with huge shares of the market in food, clothing, household goods and toy retailing that would be more powerful than Tesco.

Hershey Q1 earnings beat expectations, bolstered by Amplify deal

27 Apr 2018 --- Sales at US confectionery giant, The Hershey Company, have been given a boost following the acquisition of Amplify Snack Brands, the company behind SkinnyPop popcorn, while growth is being driven by the company’s core chocolate brands.

Weekly Digest: Symrise obtains sustainability recognition, Nestlé invests in Chilean pet food facility

27 Apr 2018 --- This week in business, Symrise successfully obtained the FSC Chain of Custody (CoC) certification for ingredients derived from forest products and the European Dairy Association (EDA) has welcomed the conclusion of a political agreement on trade between the EU and Mexico. Plans for a new Dairygold facility are underway, in Cork, Ireland, which will significantly increase production capacity of Jarlsberg cheese up to 20,000 tons annually. Meanwhile, Nestlé UK and Ireland have taken the wrapping off a £3 million (US$4.1 million) upgrade to its head office site in York and Nestlé has also inaugurated a US$120 million pet food factory in Teno, Chile.

Correction: Holista CollTech Limited patent story

26 Apr 2018 --- On January 9, 2017, FoodIngredientsFirst reported that Holista CollTech Limited had filed a patent for the world’s first low Glycemic Index (“GI”) sugar made out of all-natural ingredients based around a claim made in a submitted press release.

Novozymes Q1 sales boosted by Food & Beverages performance, maintains outlook

25 Apr 2018 --- Novozymes has reported its first-quarter results with an overall sales growth of 2 percent, in line with company expectations. And the global biotechnology company is on track to deliver its full-year sales outlook of 4-6 percent. However, President and CEO Peder Holk Nielsen points to uncertainty in the agriculture-related business, citing “geopolitical tensions.”