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fosters urges rejection of sabmiller offer
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fosters is advising shareholders to ignore sabmiller’s (sab) latest takeover bid, saying the offer price “undervalues the company”. sab went hostile with its bid yesterday, taking the $10bn (€6.9bn) offer straight to the fosters’ shareholders. this followed the rejection of sab’s bid by the fosters board in june for being too low. on the announcement of its new offer, sab said there had been “no willingness to engage” from the board, which is why the firm was taking the bid directly to fosters’ shareholders. in a statement made today, the fosters board said it thought the $4.90 share price significantly undervalued the company. fosters said it had sent its views on the bid to its shareholders, advising them to take no action and ignore all documents and communications from sab related to the offer. takeover advantages in response to yesterday’s bid, morningstar analyst philip gorham said given the strategic and financial advantages of a consolidation, he was surprised by the board's lack of interest in negotiating with sab and expected the shareholders to be more forthcoming. “in an industry in which scale is critical to gaining a cost advantage, sabmiller could leverage the foster's brands, which include foster's, carlton, and victoria bitter, by slashing back-office costs and introducing the brands into international markets on its own distribution platform,” said gorham. “foster's already has a limited international footprint, including material market share in the uk and new york city markets, but has significant room for growth across europe and north america,” he added. sab's bid outstrips the aud 8.3bn ($8.8 bn) rumoured to be offered by molson coors tap and grupo modelo. it represents around 12.5 times 2011 ev/ebitda, a reasonable price based on recent deals in the industry, he said. “sabmiller has the financial muscle to increase its offer and we believe it will do so, particularly as the australian dollar has depreciated slightly since the original offer was made in june,” gorham added. the analyst said the price could go higher if other players such as anheuser-busch inbev bud, or even heineken, enter the race. however, he said with sab having already shown its hand, other suitors probably would have emerged by now.
Source :foodanddrinkeurope.com
Date :
18
August
2011
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london-based multinational brewer sabmiller has mounted a more aggressive approach in its attempt to take over the australian-based foster’s group limited. sabmiller has announced it is taking it is bypassing the foster’s group limited board and making a a$4.90 per share bid directly to the shareholders. the new direct offer to the shareholders comes just days ahead of the release of foster’s fiscal-year financial results.
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cadbury has become the latest food brand to dip a toe in the in the experimental waters of augmented reality as part of a growing trend in interactive packaging. the kraft-owned confectionery producer is the launch partner for blippar, a new smartphone app that generates virtual experiences by superimposing graphics, audio and other sense enhancements onto physical products. cadbury is using blippar’s technology to turn its chocolate bars into a free augmented reality game, in what is claimed to be a world first.
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food manufacturers and marketers who are “irked” by tight nutrition claim regulations are being offered practical steps to ensure they comply with the rules whilst remaining competitive. there are 29 approved nutrition claims in the european union a free report from the uk consultancy, healthclaimseurope.com, has summarised the key nutrition claims regulations from the perspective of a food and beverage marketing manager, in an easy-to-use format, so they don’t stray from the regulations.
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irish dairy and ingredients group kerry has turned in a”solid” first half of 2011 that saw it increase volumes, weather raw material price hikes, and see success in a “go-to-market” functional ingredient strategy as profits jumped 6.1% on 2010 figures. profits are up 6.1% at kerry for h1, \"despite significant raw material and input cost inflation\" kerry notched trading profits of €214m for the first half of the year, with sales jumping 8.
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irish dairy and ingredients group kerry has turned in a”solid” first half of 2011 that saw it increase volumes, weather raw material price hikes, and see success in a “go-to-market” functional ingredient strategy as profits jumped 6.1% on 2010 figures. profits are up 6.1% at kerry for h1, \"despite significant raw material and input cost inflation\" kerry notched trading profits of €214m for the first half of the year, with sales jumping 8.
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woolworths has announced it is offering its customers a more efficient way to do their grocery shopping with a newly launched iphone application. customers can personalise the app to their local woolworths supermarket and create an aisle ordered shopping list, making it easier to navigate the store. customers can also add items to a shopping list with a barcode scanner, access recipes, and receive exclusive member offers and weekly catalogue specials.
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nestlé waters saw strong 5.8 per cent organic growth over the first six months of 2011 due partly to double digit sales in certain european markets. the company’s water segment saw sales of chf 3.4bn (€3.2bn) over the first half of the year, with a 8.6 per cent rise in trading operating profit margin. in a conference call, roddy child-villiers head of investor relations said pricing had turned positive in the second quarter after a year of reducing brands.
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Coca.Cola
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PEPSI
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Mcdonald
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Nestle
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Mars
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Baskin & Robins
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Nutrika
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Mumika
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Chika
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