The confectionery industry is not immune to economic recession and must exploit opportunities in emerging economies to grow, according to an analyst from Goldman Sachs.
‘Billion dollar deal’ was not a phrase bandied about the food ingredients industry much last year. With BASF buying Cognis for €3.1bn and Corn Products International paying $1.3bn for National Starch, M&A looks to be thawing – but best not get over-excited...
Galaxy Nutritional Foods' board of directors has given the go-ahead
to Goldman Sachs to investigate the potential sale of the company
and to contact prospective buyers.
Danish sugar and ingredients group Danisco leaps into the number
two enzyme position as the firm announces control of 98.2 per cent
of the shares in US biotech firm Genencor.
Oil ingredient supplier Archer Daniels Midland said on Wednesday it
will close operations at a Brazilian soybean crushing, refining and
bottling plant.
Global stocks of soybeans continue to rise after a draw-down in
recent years, with production to reach 52.6 million tonnes in
2004/05, 15.2 million tonnes more than in 2003/04.
Danisco's move into the number two global enzyme position is
delayed as the Danish ingredients firm extends its takeover offer
for remaining slice of Genencor International, reports Lindsey
Partos.
Cereal and snack producer Kellogg will have the edge over
arch-rival General Mills over the next few years as superior
innovations in the premium health sector and a more focused product
portfolio drive the firm forward, writes Chris...
Global stocks of soybeans continue to rise after last year's price
spiking draw-down, with oilseed production for 2004-05 projected to
reach 390.2 million tonnes, providing a 'comfort-zone' for
inventory levels.
Set to see sugar profits dip with incoming European sugar reform,
Danisco's announcement last week to acquire enzyme player Genencor
is the latest in a string of acquisitions that will go some way to
bridging the sales gap, writes...
Despite a fall in prices, the cost of wheat-based ingredients is
likely to remain under pressure on the back of ongoing low global
stocks, risks to Australian and Canadian production and a possible
restocking from China.
As the food industry answers consumer health concerns expanding the
use of soybean-derived ingredients in food formulations, volatility
in price for the crop is set to continue with few signs that
supplies will improve this year.
Australian food ingredients firm Burns Philp could be close to
announcing the sale of its North American spice business, Tones
Brothers, for up to $500 million, say Australian media reports.
Danish sugar and ingredients firm Danisco closes on its xanthan gum
production deal in China, consolidating the firm's stabiliser
presence in this emerging market. Just days after the firm posted a
weaker third quarter as higher...
Set against the backdrop of difficult trading conditions for
branded food manufacturers, raw material prices and a negative
currency impact played down first half figures for ingredients
giant Danisco.
The impact of higher commodity prices on ingredients manufacturers
continues to impact margins. In October figures show that soybean
prices peaked at their highest levels in six years.
Henkel KgaA has agreed to sell its chemical division Cognis to a
consortium of financial investors comprising of Schroder Ventures
and Goldman Sachs Capital Partners.
