Business News

Danone delivers solid year results despite volatile food prices and rising costs

16 Feb 2018 --- Danone has delivered its full-year results for 2017 claiming that despite volatile food and beverage markets and rising input costs, the French giant continues its transformation and outperformed the industry average. Danone’s 2017 full-year results reveal that consolidated sales were €24,677 million (US$30.8 million), up 2.5 percent. The sales growth included an increase of 3.9 percent in value showing continued mix and value enhancement in all entities.

Euroma acquires Intertaste, gains top ranking in European spice market

16 Feb 2018 --- Koninklijke Euroma (Euroma) has officially taken over all the shares of Dutch branch competitor, Intertaste, after approval by the Authority for Consumers & Markets (ACM), international herbs and spices producer. With the takeover, Euroma will achieve a top ranking in the European market and a first place in the Dutch herbs and spices market. 

IFF Q4 results: Sweet and savory modulation portfolio sales increase by strong double-digits

15 Feb 2018 --- International Flavors & Fragrances Inc. (IFF) has released its financial results and strategic achievements for the fourth quarter and full year ended December 31, 2017. Highlights included: Sweetness and savory modulation portfolio sales increase by strong double-digits, Middle East & Africa improved mid-single-digits, with growth in both flavors and fragrances and the company's Tastepoint grew strong double-digits.

Danone to sell 14 percent stake in Yakult amid portfolio diversification

14 Feb 2018 --- French multinational food products corporation Danone plans to offload part of its 21.29 percent stake in Japan’s Yakult as part of its capital allocation strategy, at the same time as bolstering its collaboration in probiotics by signing a Memorandum of Understanding with the Japanese company.

Sugar reduction solution: DuPont develops pectin innovation for fruit spreads

14 Feb 2018 --- Capitalizing on the low sugar trend, DuPont Nutrition & Health has developed and launched GRINDSTED Pectin PRIME 541, a product that will allow food manufacturers to formulate new appealing reduced-sugar fruit spreads recipes faster and without processing hurdles.

Unilever’s advertising ultimatum to Facebook and Google – Clean up “toxic content”

13 Feb 2018 --- British-Dutch transnational consumer goods company Unilever is calling for Google and Facebook to clean their acts or face the threat of having advertising withdrawn from online platforms that fail to eradicate divisive content that promotes anger and hate. 

Brexit: UK industry celebrates record £22bn exports, urges “farm to fork” focused deal

13 Feb 2018 --- While the UK food industry celebrates record exports of more than £22 billion (US$30.5bn) in 2017 as overseas sales of UK food and drink continued to soar last year, the food supply sector is also increasingly calling for a solid Brexit deal that will help boost exports, homegrown production and explicitly get behind the business of food production in Britain. As the UK government releases the latest record statistics championing the highest exports of homegrown products, the UK Food and Drink Federation, as well as it’s Irish equivalent are both campaigning for a Brexit deal that will enhance food and farming sectors within the UK and not cause problems for the industry. 

2 Sisters to shut down factories and axe jobs at 3 facilities

12 Feb 2018 --- UK chicken supplier 2 Sisters Food Group, which was at the center of a food hygiene scandal last year, has announced it plans to cut jobs and close three factories across Britain. A consultation period has been launched to close the 2 Sisters’ Cambuslang factory in Scotland in addition to its West Midlands sites in Smethwick and Wolverhampton. However, while 900 jobs will be affected by this move, the company has announced 1,000 new roles.

Bühler enjoys profitable growth in 2017, EBIT increases 18 percent

09 Feb 2018 --- 2017 was a successful year for the Bühler Group, the company organically increased its order intake by 10 percent to CHF2.8 billion (US$2.9 billion), its turnover by 9 percent to CHF2.7 billion (US$2.8 billion), and its EBIT by 18 percent to CHF 205 million (US$218.5 million) (EBIT margin: 7.7 percent). As of year-end, its order backlog amounted to CHF 1.7 billion (US$1.7 billion) (+9 percent).

Tate & Lyle: On track to deliver full-year profits, sale volumes pick up

08 Feb 2018 --- Tate & Lyle has said it remains on track to deliver full-year profit growth in line with guidance after sales volumes picked up the pace in the final three month period of last year. The food ingredients maker said decisions taken to invest in the longer term development of its specialty ingredient business in the first half of the year ending March 2018 would moderate profit growth in the second half.

UK: Arla Foods acquires Yeo Valley Dairies

08 Feb 2018 --- Arla Foods Limited will acquire Yeo Valley Dairies Limited, a subsidiary of the Yeo Valley Group Limited. The transaction will give the farmer-owned dairy cooperative the rights to use the Yeo Valley brand in milk, butter, spreads and cheese under an intellectual property license with Yeo Valley. Completion of the transaction will take place following merger approval by the UK Competition and Markets Authority.

Emmi inches up sales after strong recovery in second half of 2017

07 Feb 2018 --- Swiss milk processor and dairy products company Emmi improved group sales by 3.2 percent to CHF 3.36 billion (US$3.5 billion) in 2017, which is a slight rise in annual sales on an organic basis following a recovery in the second half of 2017.

ADM and Bunge merger: Deal could be reached this week

07 Feb 2018 --- Speculation is mounting that Archer Daniels Midland (ADM) and Bunge could reach a deal this week as the two companies have been locked in advanced talks hashing out a merger agreement that would shake-up the grain and agricultural industries, creating a formidable negotiator for crop commodities.

ADM posts “solid” Q4 results amid merger speculation

07 Feb 2018 --- Archer Daniels Midland Company (ADM) has reported its financial results for the quarter ended December 31, 2017 with the company CEO stating the American global food processing and commodities trading corporation has a solid end to 2017.

China: Increased milk consumption means “going green”

07 Feb 2018 --- Global milk consumption is projected to increase dramatically over the next few years, with the world's major exporters in the EU, New Zealand and the US struggling to meet the demand sustainably. China is expected to need more than three times as much milk by 2050 as it produced in 2010. Without changes to its current supply lines, the demand will lift global greenhouse gas emissions from dairy herds by 35 percent, expand dairy land by 32 percent and increase nitrogen pollution from dairy production by 48 percent.

Novozymes reports “solid” results, but misses the mark in agri sector

07 Feb 2018 --- Novozymes has announced its results for 2017, highlighting a “solid” year with 4 percent sales growth in the Organic segment, Food & Beverages experienced a 9 percent increase, but Agriculture & Feed was down 3 percent. Q4 earnings before interest and tax (EBIT) fell 4 percent to 1.02 billion DKK (US$169.85 million), missing the 1.07 billion DKK expected by analysts.

Caldic acquires Acatris, strengthens capabilities in food

06 Feb 2018 --- Caldic has announced that it set to acquire Acatris, a supplier of ingredients, services and solutions to the Food Processing industry. The completion of this agreement underlines Caldic’s vision to be a full-service and customer-focused distributor of food. With this acquisition, Caldic strengthens its range of single ingredients and stabilizer systems. 

Firmenich completes acquisition of Flavourome

06 Feb 2018 --- Further to the announcement in December 2017, Firmenich has confirmed that it has successfully completed the acquisition of Flavourome, an established flavors company in South Africa.

Trump urged not to impose tariffs on aluminum imports

05 Feb 2018 --- CEOs from leading US food and beverage companies and trade associations have written to President Trump urging his administration not to impose tariffs or import restrictions on cansheet, primary aluminum, and scrap.

AAK posts solid year-end report and proposes new chairman

05 Feb 2018 --- Provider of value-adding vegetable oils & fats AAK has posted its interim report for the fourth quarter and year-end report 2017, showing a record-high year-over-year operating profit.