Dairy group Arla Foods, under pressure from intense cost pressures,
will cut staff and production at a speciality milk powder plant in
Denmark to help salvage full-year profits.
Against a backdrop of conflicting claims, a controversial pressure
group has dropped Kraft from a lawsuit over misleading advertising
after the firm agreed to update its consumer information.
If anyone doubted that the US probiotics market's star is rising,
kefir-maker Lifeway Foods' latest results, positive in spite of
milk price vagarities, should be enough to convince them.
Nestle, the world's largest food company, depended on its pet
business, beverages and ice creams to keep overall sales growth
humming at 5.2 per cent during the first half of the year, although
Europe remained sluggish at 1.5...
Arla UK, one of the country's biggest milk processors, has warned
that 2005 profits will be hit by intense cost pressures,
highlighting the crucial role of value-added dairy development to
insulate margins.
San Miguel, the biggest food and drink company in the Philippines,
reported a 4 per cent drop in first half profits yesterday, after
higher raw material and packaging costs eroded the benefits of
strong sales growth.
Parmalat has sued banks JPMorgan Chase and Unicredito Italiano for
€4.4 billion for their roles in the sale of Parmalat bonds issued
from 1997 through 2001.
Dairy producer Arla Foods, which supplies butter to a number of
bakeries, has sent out one of the first signals that the dairy
sector is hurting from a reduction in EU agricultural export
subsidies.
Coca-Cola, hit by a slow-down in fizzy drinks sales, may be looking
to expand into vitamin-enriched milk after the firm's bottling arm
announces talks to buy control of Bravo! Foods.
Another write-down charge hits French firm Danone, taking the gloss
off a rise in dairy and beverage sales, as rumours of a take-over
bid by PepsiCo subside, reports Chris Mercer.
US-based PepsiCo has engaged investment banks Morgan Stanley and
UBS to advise on a possible takeover of Danone, the French bottled
water, yoghurt and biscuits group, according to a report today
inthe Financial Times.
The latest IT systems on offer to help dairy farmers have been
displayed at a major farming event in Ireland amid concerns that
Irish dairy farmers are not making full use of the IT equipment
available to them, reports Chris Mercer.
Campina will merge its European dairy businesses to insulate
against retailer pressure and take advantage of growing consumer
demand for branded, added value dairy products, reports Chris
Mercer.
Signing yet another deal to feed its seemingly insatiable appetite
for acquisitions, US ingredients firm Cargill makes a drive into
the whey derivatives market, reports Lindsey Partos.
Ireland's leading butterfat supplier Glanbia has signed a joint
venture agreement with Belgian group Corman, to make and market
dairy spreads and butterfat products.
A lawsuit targeting Kraft, General Mills and Dannon for dishonest
advertising over weight-loss claims has been attacked as a front
for animal rights extremists, writes Anthony Fletcher.
French dairy firm Entremont has joined forces with Breton
co-operative Unicopa to form France's second biggest milk processor
as tough market conditions force industry consolidation, reports
Chris Mercer.
Morgan Stanley will pay Parmalat €155m in an out-of-court
settlement as the troubled Italian dairy firm tries to get back on
track amid a hail of law suits, reports Chris Mercer.
Nestlé is being sued in Puerto Rico by a local ice cream firm it
had agreed to buy, accused of deceit, fraud and breach of a
competition authority ruling, reports Chris Mercer.
Irish dairy and food group Dairygold flags up high-margin
value-added food products, pouring €15.6 million into a new R&D
centre that will double its food scientists.
Months after New Zealand dairy giant Fonterra lost out to San
Miguel in the bid for National Foods, the firm unveils this week
plans to expand its presence in Australia.
Arla UK has been criticised for setting up a new wave of
instability through Britain's milk supply chain after it cut the
price it pays to farmers for milk, citing cost pressures,
reports Chris Mercer.
Nestle, the world's biggest foodmaker, has apologised to Chinese
consumers after the country's safety authorities detected too much
iodine in one of its milk-power brands.
British and Irish milk producers say the EU Commission has let them
down by irresponsibly chopping export refunds on both skimmed and
whole milk powder, reports Chris Mercer.
Nestle has launched an investigation into its milk products, after
a type of baby powder sold in Chinese supermarkets failed to meet
national standards over iodine content, reports Claire
Johnston.
Arla UK has survived a tense year of negotiations with Britain's
major retailers, as new supply contracts and branded fresh milk
promise a brighter future, reports Chris Mercer.
UK milk processor Dairy Crest announces a small slip in full year
profits and makes its first foray into the burgeoning functional
foods market - something which should provide its liquid milk
division with greater long-term stability,...
The Irish Dairy Board (IDB) has shrugged off slashed CAP subsidies
and taken advantage of favourable international trading conditions
to notch up a steady increase in both profits and turnover during
2004 trading, Tom Armitage reports.
Robert Wiseman Dairies has moved to allay its shareholders'
concerns after announcing a disappointing decline in the company's
full-year profits, stemming from last year's loss of a lucrative
contract to supply Asda...
Philippine food and beverage manufacturer San Miguel has said that
it expects its acquisition of Australia's National Foods to be
completed before the close of May - despite so far failing to
convince around 75 per cent of the...
Fall in milk price paid to farmers brings gains in first half for
Arla Foods, the owner of Arla Food Ingredients, but the
co-operative warns the full year remains 'uncertain'.
Chr Hansen is already on the look out for new acquisitions as the
firm enjoys a fresh financial thrust from its new private equity
owners, PAI partners, reports Lindsey Partos.
UK milk processors Arla Foods and Dairy Crest have had their
lucrative contracts to supply fresh milk to UK multiple retailer
Morrisons extended - at the expense of rival dairy company Robert
Wiseman, Tom Armitage reports.
Dairy Crest, one of the UK's leading dairy processors, has
confirmed that it is in "advanced discussions" to acquire
one of the UK's largest regional dairy co-operatives, Tom
Armitage reports.
Ending months of speculation, the food ingredients arm of Chr
Hansen has a new owner: not a fellow industry player but food
acquisitive private equity firm PAI partners, reports Lindsey
Partos.
Emmi, the Swiss publicly-traded dairy company, has hailed its 2004
full-year results as "encouraging", despite posting
operating profit growth below analysts' expectations, Tom
Armitage reports.
Sales and operating profit improve "considerably" in the first
quarter for the food unit of Dutch chemicals and life sciences
group DSM, the firm reports.
UK milk processor Dairy Crest has dismissed escalating reports that
it is about to lose out on another contract to supply liquid milk
to one of the country's leading multiple retailers, Tom Armitage
reports.
Nestlé, the world's biggest food and drink manufacturer, has
announced a modest increase in Q1 profits after successfully
offsetting rising raw material costs with price increases across
the UK and Continental Europe, Tom Armitage...
Arla Foods and Campina, two of Europe's largest dairy
co-operatives, have abandoned their much-hyped plans to merge,
after failing to secure the confidence of their respective boards,
Tom Armitage reports.
Irish food group Glanbia and dairy co-operative Connaught Gold will
soon be able to reap synergy benefits, after agreeing to share some
elements of their dairy processing operations, Tom Armitage
reports.
Ingredients firm Danisco on the way to the number two global enzyme
spot after the same German regulatory authorities that delayed the
deal give the green light, reports Lindsey Partos.
New Zealand dairy co-operative Fonterra announced today that it has
pulled out of the three month bidding war to buy National Foods,
crowning San Miguel the new owner of Australia's largest publicly
traded dairy company, Tom...
Givaudan, the world's number one fragrance and flavour player, saw
sales in its flavour division slipping by 6.5 per cent for the
first quarter, impacted by a loss of products and a fall in prices,
writes Lindsey Partos.
French dairy giant Danone has received approval from the Chinese
authorities to more than double its existing stake in China's
biggest dairy company, Tom Armitage reports.