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Food finance and prices

The food industry is in constant financial motion; there’s always some company snapping up the assets of another, not to mention grappling with fluctuating costs of commodities. The latest money moves can have a big impact on ingredient supply, so it pays to keep up to date.

Danisco buy-out fails to dent DuPont Q2 earnings

28-Jul-2011 - Dupont, which earlier in the year warned that its May $6.49bn acquisition of Danisco would dent its yearly profits, has defied expectations in second quarter results published today.

Food prices could fall slightly in 2012, says USDA

27-Jul-2011 - Food prices are likely to fall slightly from 2011 levels next year, the US Department of Agriculture (USDA) has said in its first food price index outlook for 2012.

Dairy reform Bill would damage exports, warn processors

18-Jul-2011 - Draft legislation designed to create more stability in the US dairy industry would damage exports and threaten jobs, dairy processors have claimed.

US and Mexico resolve trucking dispute

11-Jul-2011 - US and Mexican governments have signed an agreement to end a 17-year trucking dispute that has seen Mexico impose tariffs on a long list of US exports, including many food and agricultural products.

New study finds link between kids’ BMI and food prices

06-Jul-2011 - There is a clear correlation between children’s body-mass-index (BMI) and the price of food and drink, according to new government-backed research.

Campbell’s restructuring slashes jobs, shuts plants

30-Jun-2011 - New Jersey-based Campbell Soup Company has said it will slash 770 jobs worldwide by 2013, shutter a Michigan plant and pull out of the Russian market, as part of a major restructuring program.

Is healthy food more expensive than junk food?

29-Jun-2011 - New research into food prices shows that unhealthy options are not always more affordable, although the relative cheapness of soft drinks, refined grains and starchy veg vs healthier alternatives means Americans “may have an economic incentive to consume a less healthful diet”.

Bell Flavors warehouse acquisition to aid long-term expansion

08-Jun-2011 - Bell Flavors and Fragrances has acquired an 85,000 square foot warehouse adjacent to its corporate headquarters in Northbrook, Illinois, which it says is logistically well-placed for long-term business expansion.

FAO says food prices stuck at “stubbornly high levels”

08-Jun-2011 - Crop production may be rising but not enough to bring down high and volatile agricultural commodity prices this year, according to the latest analysis from the FAO.

ADM cocoa powder cuts bakers’ costs with “less is more” approach

27-May-2011 - A new dark cocoa powder aims to deliver an indulgent rich taste for bakery goods, but also cut costs by reducing the product’s overall cocoa content, claims ADM.

Campbell’s profits rise on snack sales, as soup sales slump

23-May-2011 - Higher sales of snack foods offset declining soup sales at the Campbell Soup Company contributing to an 11 percent boost in third-quarter profits, the company said on Monday.

DuPont keeps existing food business chief as head of expanded unit

20-May-2011 - DuPont has appointed the existing head of its Nutrition & Health unit to lead the business as it takes on the task of joining up with Danisco Food Ingredients.

General Mills signs Yoplait acquisition agreements

18-May-2011 - General Mills has entered into definitive agreements to acquire a 51 percent controlling interest in French yogurt maker Yoplait and a 50 percent stake in a related entity that holds the global Yoplait brands.

Industry execs ‘cautiously optimistic’ about profitability, market share

17-May-2011 - Food industry executives expect to see increased profitability in the sector this year, although many think it may be difficult to sustain, according to a new survey from KPMG International.

DuPont succeeds in Danisco bid

16-May-2011 - US chemical group DuPont has successfully completed its tender offer for Danisco, as 92.2 percent of outstanding shares in the Danish food ingredients firm were tendered by Friday’s deadline, DuPont said on Monday.

Food and drink M&A to rise as big guns dip into $30bn warchest

16-May-2011 - The top 10 publicly quoted food and drink companies in the US are sitting on a whopping $30.1bn in cash – and looking to spend it – according to corporate finance experts at Deloitte.

Strong results boost Imperial Sugar shares to 52-week high

12-May-2011 - Imperial Sugar saw its share price jump to a 52-week high in after hours trading on Wednesday, following better than expected profits in Q2, partly due to higher sugar prices.

IFF reports strong Q1 growth aided by beverages and confectionery

11-May-2011 - Double-digit growth in the beverage, savory and confectionery sectors helped International Flavors & Fragrances to achieve revenue of $714m in the first quarter of this year; nine per cent up on the same period of last year.

Price hikes underpin strong growth at Kraft during Q1

06-May-2011 - Kraft Foods has reported strong sales and profit growth in the first quarter as it increased prices and advertising efforts for core brands to tackle higher commodity costs.

Ralcorp rejects ConAgra’s $4.9bn takeover bid

05-May-2011 - Ralcorp’s board of directors has unanimously rejected ConAgra’s $4.9bn takeover bid, saying that it is not in shareholders’ best interests and that the board is committed to Ralcorp’s independence.

ConAgra makes $4.9bn offer to acquire Ralcorp

04-May-2011 - ConAgra has made a $4.9bn cash offer to acquire Ralcorp, in a bid that would expand its presence in the private label packaged foods sector, the company said on Wednesday.

ADM’s oilseeds and corn processing contribute to 37% profits boost

03-May-2011 - Grain processing giant Archer Daniels Midland (ADM) has reported a 37 percent rise in profits in the third quarter on the back of strong growth in its oilseeds and corn processing businesses.

Corn Products’ profits triple in Q1

03-May-2011 - Corn Products International has seen profits more than triple in the first quarter after passing on higher prices for its products and receiving a payment from the Mexican government to settle a trade dispute.

Senomyx narrows loss in first quarter

02-May-2011 - California-based flavor ingredients firm Senomyx has narrowed its net loss in Q1 and increased revenues, as the company continues to discover, develop and commercialize new flavor ingredients.

DuPont raises Danisco offer and sets final deadline

02-May-2011 - DuPont has increased its bid for Danish ingredients firm Danisco by 5.3 per cent to DKK700 per share, and has set a final deadline of May 13 for 80 per cent of shares to be tendered.