Food Industry News

:. Food Industry News

Today's Headlines 03/09/2010

Beer Finds Favour Over Spirits in Slow Recovery Sept 3 - Big brewers like Anheuser Busch InBev are seen as a better bet than spirit giants Diageo and Pernod Ricard to gain from the uneven world recovery in which only emerging markets are showing strong growth.

Morrison's Eyes Small Stores, Non-Food for Growth Sept 3 - Plans to open more smaller stores, revamp non-food ranges and eventually move online could help Wm Morrison Supermarkets, Britain's No.4 grocer, to close the share price discount to its competitors.

Russia's Wimm-Bill-Dann Foods Impacted by Less Milk Availability 3 September 2010 - Wimm-Bill-Dann Foods continues to be affected by the cost and availability of milk. Talking to investors yesterday, company CEO Tony Maher explained that raw milk procurement is challenging due to the unusual hot summer as well as the current strong demand.

Campbell Soup Reports Higher-than-Expected Quarterly Earnings Camden, N.J., Sep 03, 2010 - Campbell Soup Company today reported its fiscal 2010 results.

Sodexo, Publicis Seen as Potential CAC 40 Entrants Sept 3 - Sodexo and Publicis look the most likely newcomers to France's CAC 40 as speculation swirls of an imminent shake-up of the blue chip index, traders and analyst said on Friday.

Indonesia Cocoa Tax May Grow Grinding, but Risks Supply Sept 3 - Indonesia's hefty tax on cocoa bean exports may push firms to expand domestic processing, but also risks reducing the country's bean output if farmers are put off rejuvenating ageing trees.

CD&R Buys 42.5% Stake in Univar from CVC, IPO Postoned New York, September 2, 2010 - Clayton, Dubilier & Rice, LLC and CVC Capital Partners today announced a definitive agreement for CD&R to acquire a 42.5% ownership interest in Univar, a leading global distributor of commodity and specialty chemicals to a broad array of end markets.

Athens Shops Pull Down Shutters on Recovery Hopes Sept 3 - There are more employees than clients in Andreas Triandafillidis' clothes shop in central Athens. Austerity has kicked in and the shirts stay on the shelves despite a 50 percent discount.

Sodiaal Gets Competition Commission OK for Entremont Acquisition 3 September 2010 - The French Competition Commission yesterday gave the green light to Sodiaal's acquisition of Entremont Alliance, saying that competition in the national cheese industry will remain fair as the overlap of both companies' cheese activities is small.

IndoAgri Looks to Up Palm Oil, Sugar Output Sept 3 - Indofood Agri Resources (IndoAgri), Indonesia's top cooking oil seller, expects crude palm oil output to rise by 5-10 percent next year after flat growth this year as rains hindered plantation.

Ebro Concludes Sale of its Dairy Business to Lactalis Madrid, 2 September 2010 - Once approved by the European antitrust authorities, Ebro and Lactalis signed today the contract of sale of Ebro's dairy business. This division is now wholly owned by Lactalis.

Lower Prices Hit Fyffes Profits 3 September 2010

Honduras Expects Bigger 2010/11 Coffee Crop Sept 2 - Honduras will produce 6.4 percent more coffee in the upcoming 2010/11 season as farmers, spurred on by high prices, buy more fertilizers and expand their coffee growing land, the head of the national coffee association told Reuters on Thursday.

Mexico Coffee Crop Struggling to Recover from Cold Sept 2 - Mexico's coffee harvest, hit this season by a cold snap at the beginning of the year, will struggle to recover next season as some plants were completely destroyed, producers said on Thursday.

Corn Products International Enters into New 3-Year, $1 Bln Senior Unsecured Revolving Credit Agreement Westchester, Ill., Sep. 2 - Corn Products International, Inc., a leading provider of ingredient solutions to diversified industries worldwide, today announced that it has entered into a new three-year, senior unsecured $1 billion revolving credit facility available for general corporate purposes.

Krispy Kreme Quarterly Revenues Increase 6.3% Winston-Salem, N.C., Sept. 2 - Krispy Kreme Doughnuts, Inc. today reported financial results for the second quarter of fiscal 2011, ended August 1, 2010. The Company also raised its earnings outlook for fiscal 2011 as a whole.

Russia Signals Much Longer Grain Export Freeze Sept 2 - Prime Minister Vladimir Putin's call for Russia's ban on grain exports to be kept in place until late 2011 further stirred up grain markets as it underlined the extent of the fallout from its worst drought in a century.

Venezuela Will Pay Exito Owners $600 Million Sept 2 - Venezuela will pay around $600 million to French retailer Casino and other owners of the Exito supermarket chain, which was nationalized in January.

Food Safety a 'Priority' for U.S. Senate Sep. 2 - Passing food safety reform legislation this year is a "priority" for the U.S. Senate, said a spokesman for Senate Democratic Leader Harry Reid, as Congress feels pressure from consumer groups to act following the latest recall to highlight weaknesses in the system.

Yesterday's Headlines 02/09/2010

Burger King to Stop Buying Palm Oil from SMART Jakarta, Sept 2 - Burger King Holdings Inc, the No. 2 U.S. hamburger chain, said it would stop buying palm oil from Indonesia's PT SMART Tbk, citing concerns over environmental sustainability and rainforests.

Wilmar Completes Investment in Palm Oil Firm Kencana Agri Limited September 2 - Wilmar International Limited is pleased to inform that further to its announcement on 13 August 2010 in relation to Newbloom Pte. Ltd.'s investment of 229,608,944 shares in Kencana Agri Limited ("KAL"), Wilmar has received notification from KAL that the Subscription and Vendor Placement have been completed on 2 September 2010.

September Cocoa Supply Crunch Thrown into Doubt London, Sept 2 - The prospect of a supply crunch in the Liffe cocoa market this month has been thrown into doubt, dealers said on Thursday, as price falls pointed to processors having enough stock ahead of arrivals from West Africa's crop.

Burger King Holdings to Be Acquired by 3G Capital Sept 2 - Burger King Holdings, Inc. (and 3G Capital today announced that they have entered into a definitive agreement under which affiliates of 3G Capital will acquire the stock of the Company for $24.00 per share, or $4.0 billion, including the assumption of the Company's outstanding debt.

Sweden: Confectionery Firm Cloetta to Cut 28 Jobs 2 September 2010 - Swedish confectionery firm Cloetta has issued redundancy notices to 28 employees at its factory in Ljungsbro.

French Catering and Bakery Products Company TransGourmet to Reduce Number of Warehouses 2 September 2010 - Catering and bakery products company TransGourmet France is planning to reorganise its national warehouse network, reports the French business media.

Burger King Buyout Seen at $24/share September 2 - A buyout deal for Burger King Holdings Inc by investment firm 3G Capital is being valued at $24 per share, or about $4 billion, cable business channel CNBC reported on Thursday.

Russia Warns Speculators After Food Prices Rise Russia, Sept 2 - President Dmitry Medvedev ordered law enforcement agencies on Thursday to prevent speculators driving up food prices after the worst harvest in years and pledged help to ensure affordable food staples.

Colombian Dairy Firm Alqueria To Expand with USD20 Mln IFC Loan Bogota, Sept 2 - IFC, a member of the World Bank Group, is providing $20 million in financing to Productos Naturales de la Sabana S.A. (Alquería), a leading milk producer in the Andean region, to support its expansion into low-income and remote consumer markets.

U.S. Retailers' August Sales Beat Estimates Sept 2 - U.S. retailers posted better-than-expected sales in August as consumers sought out bargains during the key back-to-school selling season.

Del Monte Foods Net Sales Down in First Quarter

Pernod Eyes Global Drinks Market Recovery Paris, Sept 2 - French spirits giant Pernod Ricard said it expected a good year as emerging markets, notably Asia, drive a gradual recovery in the world drinks market.

INTERVIEW: Innovative Grecian Delight Caters to Growing Greek Food Demand 2 September 2010 – The popularity of Greek cuisine is more widespread than ever before. Reflecting numerous influences and an immense history dating back to Ancient Greece, Greek food has, itself, influenced many other cuisines. Its rich and diverse flavours have made it the standard-bearer of the current highly publicized Mediterranean diet.

New Zealand: Reynolds Group to Acquire Reynolds Food and Flexible Packaging Group of Companies Auckland, Sep. 2 - On September 1, 2010, Reynolds Group Holdings Limited acquired the Reynolds Food and Flexible Packaging group of companies from Reynolds Packaging (NZ) Limited, a New Zealand company which is ultimately owned by the owner of the RGHL, Mr. Graeme Hart.

Food and Beverage Packaging Firm Ball Corp. to Close British Columbia Plant Broomfield, Colo., Sept 01, 2010 - Ball Corporation announced today plans to consolidate the production equipment in its Richmond, British Columbia, plant into other company manufacturing facilities. The Richmond plant, which produces steel food cans, will cease production during the first quarter of 2011 and its customers will be served by other Ball facilities.

US Beer Consumption Declines Norwalk, Conn., Sept. 1 - Last year marked the third consecutive year of diminishing growth rates in the beer industry, dropping 2.1% to 2.877 billion cases.

US Sees 2-Year Environmetal Review of GM Sugar Beets Sep. 1 - The U.S. Agriculture Department, fresh off a court ruling that banned the planting of genetically-modified sugar beets, said on Wednesday it could take at least two years to complete an environmental review before it would be able to lift planting restrictions.

US Charges 11 with Illegal Imports of Chinese Honey Sept 1 - A German food conglomerate and eleven individuals have been charged with illegally importing contaminated honey from China to skirt U.S. anti-dumping duties, U.S. authorities said on Wednesday.

Burger King in Talks with Investment Firm 3G Capital Sep. 2 - Burger King Holdings Inc, the second biggest U.S. hamburger chain, is in talks to sell itself to investment firm 3G Capital, a source briefed on the situation said on Wednesday.

Purecircle And Premium Ingredients Partner In New Distribution Agreement Sept 1 - PureCircle USA, the world's leading producer and marketer of high purity stevia products, announces today a new distribution agreement with Premium Ingredients International, one of the largest ingredient distributors for food, health and wellness and feed/pet food manufacturers.

Martek Biosciences Q3 Profit Up 33% Sept 2 - Martek Biosciences Corporation announced its financial results for the third quarter of fiscal 2010.

Total Produce Announces Increase In 2010 First Half Earnings Total Produce Interim Results For The Six Months Ended 30 June 2010.

Dairy Prices Rise in Latest Auction - NZ's Fonterra Sept 2 - New Zealand's Fonterra Cooperative Group, the world's biggest dairy exporter, said international milk prices rose for the first time in five months at its latest auction, as demand improved.

Moscow Bans Night-time Vodka Sales in Health Drive Moscow, Sept 1 - Moscow banned night-time sales of vodka and other spirits Wednesday, part of a nationwide drive to curb crime and disease linked with Russia's national drink.

Russia Wimm-Bill-Dann H1 Net Income Up 7.1 pct y/y Moscow, Russia – September 2, 2010 – Wimm-Bill-Dann Foods OJSC today announced its financial results for the second quarter and six months ended June 30, 2010.

A&P Mulling Sale of Food Emporium Chain September 2 - Great Atlantic & Pacific Tea Co, which operates the struggling A&P supermarket chain, is mulling the sale of its Food Emporium stores to boost liquidity, the Wall Street Journal reported, citing people familiar with the matter.

Pernod Profit Rises, to Focus on Debt, Marketing Sept 2 - The Pernod Ricard Board of Directors' meeting of 1 September 2010, chaired by Patrick Ricard, approved the financial statements for the 2009/10 financial year ended 30 June 2010.
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Southeast Asia Drinks Sector Sparkles Tokyo, Sept 2 - Global drinks firms, thirsty for acquisitions to expand their offerings and reach, are eyeing assets in Southeast Asia, as tough regulatory hurdles quash their interest in giants China and India.

Global Drinks Firms Expand Reach into Asia Sept 2 - Big beverage firms are expanding their reach into Asian markets to gain exposure to a growing class of wealthy and brand-conscious consumers.

Navis Eyes Carrefour S'pore, Malaysia Assets Sept 2 - A consortium led by a Malaysia-based private equity firm has joined a slate of bidders including French retailer Casino and Britain's Tesco, in bidding for some of Carrefour's Southeast Asian assets, sources said.

Wednesday's Headlines 01/09/2010

Heinz Looks to Emerging Markets for Growth Sep. 1 - H.J. Heinz Co Chief Executive William Johnson said the global economy was in the worst state he has seen during his 35 years in the consumer goods industry and that he would focus on deals in emerging markets to boost company sales.