Food & Drink

Smithfield Foods appoints COO as part of restructuring efforts

January 21, 2019

Smithfield Foods has made a raft of changes to its leadership structure in a move to unify all its operations, brands, and more than 54,000 employees globally under one corporate umbrella. Virginia-headquartered Smithfield said the new structure aims to in infuse innovative ideas in all..

Ferrero, Hostess, B&G bid on Kellogg’s Keebler and Famous Amos cookie business

January 21, 2019

Hostess Brands, B&G Foods and Nutella-owner Ferrero have placed first-round bids on Kellogg’s Keebler, Famous Amos and fruit snacks businesses, in a deal that could value the brands at more than $1.5 billion, people familiar with the situation tell CNBC. Kellogg announced the sale of..

Azelis acquires Polish flavours distributor Euroconsultant

January 18, 2019

Azelis has agreed to acquire Euroconsultant, a Polish distributor of flavours, shelf life extenders and other products predominantly for the meat segment. Euroconsultant is predominantly active in the meat segment, although the company is diversifying into other segments such as fish, cheese, dairy and poultry..

ADM to buy rest of UK grain merchant Gleadell from InVivo

January 18, 2019

U.S. agribusiness group Archer Daniels Midland Co said on Thursday it had agreed to buy the remaining 50 percent stake in British grain merchant Gleadell it does not already own from French co-operative InVivo. Gleadell, based in Gainsborough in eastern England, is one of Britain’s..

Reuters: ADM CEO says wrong time for ‘monster’ acquisitions

January 17, 2019

U.S. grain merchant Archer Daniels Midland Co (ADM) has looked at buying rivals including Bunge Ltd. and dozens of other companies but decided the time is not right for “monster” acquisitions, the company’s chief executive told Reuters. ADM’s overture to Bunge last year, reported by..

PepsiCo elects Laguarta chairman

January 17, 2019

Ramon Laguarta has been elected chairman of the board of PepsiCo, Inc., effective Feb. 1. He will succeed Indra K. Nooyi, who announced last fall her intent to step down from the company in early 2019. Mr. Laguarta succeeded Ms. Nooyi as chief executive officer..

Fazer invests 40m euros to build new production site in Finland

January 16, 2019

Finnish food company Fazer will invest €40 million to build a new production facility in Lahti, Finland, which will produce a range of plant-based products. The investment will take place in 2019-2020, creating 30 new jobs at Fazer in Lahti and supporting Fazer’s ambition to..

Reuters Breakingviews – AB InBev’s Asia sale needs breathalyser test

January 16, 2019

Anheuser-Busch InBev executives who hope for a $70 billion valuation for their Asia business deserve to have their breath tested. The Belgian brewer is considering an initial public offering of part of the unit, Reuters reported on Friday. The region is a fast-growing jewel in..

Jon Nash to lead Cargill’s North American Protein business

January 16, 2019

Cargill has selected Jon Nash to lead its North American protein business. He will report to Brian Sikes, who was recently appointed to the executive team as leader of the company’s global protein and salt businesses. Nash began his career at Cargill in 1998. Most..

Food industry warns of ‘dramatic’ consequences of no-deal Brexit

January 15, 2019

European trade body FoodDrinkEurope has warned of the “dramatic economic consequences” of a no-deal Brexit for both European Union (EU) and UK farmers, food and drink producers, traders in agri-food commodities as well as consumers. In a joint statement with European farming group Copa-Cogeca and..