Cargill has just completed a “pivotal year”, says its annual report for 2015-16. The big question now is whether the world’s largest agricultural trading house will pivot back to growth.
The US company’s operating profit in its last financial year to the end of May was the lowest since 2011-12, dragged down by weak grain markets that form part of the broad slump in commodities prices.
In response to the downturn, Cargill executives are seeking to simplify and provide greater coherence to a 151-year-old company that has become a sprawling conglomerate. Cargill wants to expand in areas of existing strength and exit those activities where it has little or no competitive advantage.
> Read the full article in the Financial Times
Source: The Financial Times
McCain Foods has completed the acquisition of Irish plant-based frozen food manufacturer Strong Roots. The acquisition follows McCain and Strong Roots’ strategic partnership, which began in 2021 and resulted from a $55 million investment.
Cargill partners with Voyage Foods to scale up alternatives to cocoa-based products to meet consumers’ indulgence needs. The commercial partnership will also provide food manufacturers with nut spreads produced with no nut or dairy allergens used in the recipe formulation.
L’Occitane International owner Reinold Geiger is reportedly close to taking the company private in a deal with Blackstone. The French skin care company’s filing halted trading of its Hong Kong-listed shares this week. This is the second time in months that the Australian billionaire has attempted a buyout.
