Hershey has rejected a $23 billion takeover bid by Mondelez International that would seek to expand the latter’s limited US footprint and create the world’s largest confectioner.
The snub underscores the challenges Mondelez chief executive Irene Rosenfeld faces in wooing Hershey’s controlling shareholder, the Hershey Trust, a $12 billion charity created by the eponymous company’s founder […]
Hershey has rejected a $23 billion takeover bid by Mondelez International that would seek to expand the latter’s limited US footprint and create the world’s largest confectioner.
The business sector in Ireland is preparing for the blows that the economy will face after hearing the results of the Brexit vote.
The Irish branch of Ferrero, the Italian producer of Nutella, chocolate praline and Kinder Eggs, saw a rise in profits by 34% this year
Aryzta shares have fallen nearly 6% after the company’s latest quarterly figures showed revenue fell by 2.4% to €950m, dragged lower by its North American unit.
Aryzta North America posted its seventh losing quarter in a row with revenue down 7% to €473.5m over the 13 weeks to the end of April.
Owen Killian, Aryzta’s CEO said that quarterly […]
TINE, Norway’s largest farmer-owned dairy co-operative are set to open a new Jarlsberg cheese production facility in Ireland.
The project will see the dairy company form a partnership with Dairygold’s existing speciality cheese factory in Mogeely, Co Cork.
Dairygold Chief Executive Jim Woulfe said: ““Dairygold is pleased that TINE has chosen to invest in a new Jarlsberg […]
Ireland has recorded its biggest jump in milk production of any EU country since the lifting of quotas last year.
Figures from Central Statistics Office show milk output in Ireland rose by 18.5% to more than 6.5 billion litres in the 12 months since April last year, effectively the first full year of quota free production.
This was the biggest jump […]
Irish whiskey producers may hit their target of doubling export sales much sooner than their planned 2020 date, if the UK votes them out of the EU on the 23Rd June.
Scotch whisky currently dominates sales across Europe selling more than €1.3 billion each year, with the biggest volume going to France. In fact France is […]
Pizza Hut Delivery has announced that it is to create 3,000 jobs in 200 new stores across the UK and Ireland over the next four years.
The firm did not give an exact breakdown of how many jobs will be based in it’s stores in Ireland or where it plans to open the new stores.
However, the chain is set […]
Brewer Carlsberg has today said it’s sales fell more than expected in the first quarter due to decline in China’s market and foreign exchange fluctuation.
Sales fell 3% to 13.01 billion Danish crowns ($1.99 billion), missing the 13.18 billion crowns average of 14 analyst estimates compiled by Thomson Reuters.
“Beer market development in Asia was mixed with […]
C&C has reported a fall in revenues and operating profits for the year to the end of February due to the company facing major challenges including poor weather and increased competition.
The drinks group said its full year revenues eased by 3.1% to €662.6m while operating profits fell by 10.3% to €103.2m, as it had previously […]
Pernod Ricard affiliate Irish Distillers has entered into exclusive talks with Sazerac to sell Paddy, the fourth largest Irish whiskey brand in the world.
If completed the deal would see the whiskey continued to be made at the Midleton Distillery with no impact on roles at the distillery expected.
Pernod Ricard didn’t disclose how much it would […]
Fyffes has increased its target earnings ranges for 2016 and has said that its existing business has performed in line with their expectations so far for 2016.
In a trading update, the company said it was now expecting earnings of between €63m-€69m compared to previous estimates of €54m-€60m. It had reported earnings of €56.1m for last […]
Kerry Food Group has said it is confident of delivering 6-10% growth after reporting in a 2.9% growth in business volumes in the first quarter.
The group which makes Dairygold, Dennys and Cheesestrings, said group trading profit was up 50 basis points, reflecting a 40 basic points improvement in its taste and nutrition business and a 20 basis […]
Glanbia total group revenue fell by 2.5% in the first quarter sales. The nutritional group said the fall was mainly due to declines in its Global Ingredients sector where the falling milk price has been taking its toll.
Glanbia said its Global Performance Nutrition division performed particularly well and continues to expect its full-year adjusted earnings per share to grow […]
Starbucks Corp on Thursday posted quarterly cafe sales that missed analysts’ growth estimates for every region where it operates and issued a disappointing full-year forecast, sending its shares down about 4 percent.
The world’s largest coffee chain said global sales at cafes open at least 13 months rose 6 percent in the fiscal second quarter ended […]
Brewer Heineken sold far more beer than expected in the first three months of the year, helped by growth over the Vietnamese and Chinese New Years and an earlier Easter, sending its shares to a record high.
The brewer of Heineken, Europe’s best-selling lager, Tiger and Sol retained its full-year forecast, but said currency developments would weigh […]
Glanbia has been accused of paying below the market rate for milk from its suppliers after it cut base milk prices to 22 cent a litre. The lowest price it has paid in seven years, amid the ongoing downturn in dairy markets.
The IFA has severely criticised Glanbia’s decision to cut its base milk price this […]
The world’s biggest food company, Nestle has confirmed its full-year outlook after first-quarter underlying sales growth of 3.9% beating analysts’ estimates, driven mostly by growth in volumes rather than pricing.
Nestle’s first-quarter growth rate is still the slowest since 2009. Nestle has struggled to get consumers interested in frozen goods and convenience meals.
But it said today it managed to gain […]
Drinks giant C&C has been urged to find a buyer for its Shepton Mallet mill in Somerset after its announcement that it is to close the mill in the summer.
The closure will result in the loss of 120 jobs and will bring a 246-year-old tradition to an end.
Trade union chiefs in Unite said owner C&C should repay the […]
Craft beers will soon be much more expensive after the price of hops soared due to the dry and hot weather blighting the hop harvest across Europe last year. This is likely to lead to an increase in prices, and a squeeze on profit margins for craft beer makers.
The price of some of the most popular hops has […]
Highline Produce has been acquired by Fyffes for $145 million.
Fyffes has acquired 100% of the equity and will refinance the existing debt in the Canadian mushroom producing company.
Fyffes plans to fund the purchase through new and existing bank debt.
Fyffes saw earnings before interest, tax and write-offs rise 14.2 per cent to €45.8 million last year.Total revenue, including the group’s share […]
Unite and SIPTU members working at Cadbury in Dublin have voted to accept proposals from the Workplace Relations Commission by a three-to-one majority.
They were put to workers at the Coolock site following talks earlier this month.
Unite say the proposals are in line with union demands that cost savings be achieved without any outsourcing.
The WRC negotiations and […]
Hilliard Lombard, the former head of Aryzta’s European and Asian business has been appointed as managing director of Valeo’s Irish operations.
Mr Lombard, who spent over a decade at Aryzta under chief executive Owen Killian, joined Valeo in recent weeks. He will report to Valeo’s chief executive, Séamus Kearney.
Valeo is backed by London-based private equity […]
Aryzta CEO Owen Killian, has sold shares in Aryzta worth over €15m between Monday and yesterday. But the CEO of the Swiss Irish food company has now issued a statement saying that he regretted having to sell the shares.
“I regret having to sell down shares at this time,” he said – Mr Killian sold 427,250 shares […]
Ornua has opened a €20m Cheese Manufacturing Facility in the Saudi Arabian capital of Riyadh.
New technology developed by Ornua and Teagasc, the food development authority, will be implemented at the facility in order to create a range of white cheeses.
The €20m facility will manufacture white cheeses for the Saudi Arabian market, the fifth largest dairy […]
Aryzta the Swiss-Irish food group saw its shares fall as much as 5.7 per cent in early morning trading on Monday after the company admitted growth will be erratic over the next 18 months.
Aryzta said it saw revenues rise 5.5 per cent to €1.96 billion during the six months to the end of January, on the back […]
Caffe Nero, the specialist coffee retailer chain has outlined plans to invest €20 million in Ireland by opening 40 new outlets across the country, with the potential creation of 350 new jobs in the process. It currently operates six outlets, five in Dublin and one recently opened in Drogheda. The firm also has planning permission for another store […]
Aramark, global provider of award winning services in food, facilities management and property, has announced its nominated charities in Ireland for 2016.
Galway Autism Partnership
Since the establishment of the Aramark Charitable Fund in Ireland in 2008, the fund has raised over €380,000 for its various nominated charities selected each year.
Throughout the year, Aramark employees […]
Drinks manufacturer C&C has said it expects group operating profit to be in the region of €103 million this year.
In a trading statement released to the Irish Stock Exchange this morning, ahead of the publication of its annual results on March 10, the maker of Bulmers cider said trading in the last quarter of the year […]
Frank Gleeson, Region Managing Director, Aramark Northern Europe, Brian Lee, co-founder and managing director of Chopped and Andy Chen, co-founder of Chopped.
Aramark, the global provider of award-winning services in food, facilities management and property, has announced an exciting new partnership with leading Irish healthy food company, Chopped.
The five year deal will be exclusive to Aramark […]
AIMPLAS is holding on 26 and 27 April an international meeting, where they will be tackled the future of plastic materials and the latest innovations of sectors such as medicine, packaging, automotive, water supply and lighting.
Since their inception in the last century, these polymers have extended their applications to almost all the sectors of economic […]
O’Brien Fine Foods has announced it is to create new jobs as it invests €14m in its ham processing plant in Timahoe, Co Kildare.
The company said the expansion would create 40 new jobs at the site, bringing employment there to 310 within the next two years.
A further 150 jobs will be created during the construction phase.
Bord Bia has announced that the value of Irish food and drink exports was almost €11bn last year. That is the highest ever level of exports for the sector – and it’s 3% up on the previous year. The 2015 figure is up by 51% or €3.6bn when compared to 2009.
Bord Bia has said the UK accounts […]
Bord Bia Marketing Fellows (l-r) Caroline Mullen, Mark Halvey, Clodagh Slattery, Enda Gallen, Lynne Andrews and Tim Hill launched a search for 20 ambitious professionals to apply for the Bord Bia Marketing Fellowship programme in association with the UCD Michael Smurfit Graduate Business School / Bord BIA UCD Smurfit Picture Conor McCabe Photography
Bord Bia and […]
C&C Group has announced a new long term partnership agreement with Pabst Brewing Company for the sale and distribution of C&C Group’s cider brands within the US.
Under the terms of the deal, the US brewer will have the exclusive license to distribute, market and sell all of C&C’s cider brands in the US.
These include premium craft cider […]
The beermaker Anheuser-Busch InBev NV is looking to sell the Peroni and Grolsch brands as it works to gain regulatory clearance over its planned acquisition of the world’s second largest brewer.
The sale of the brands and their related businesses in Italy, the Netherlands and Britain would be conditional on AB InBev acquiring SABMiller in a […]
The European Union commission has opened a formal state aid investigation into allegations that fast food giant McDonald’s received a tax deal from Luxembourg six years ago.
The case against one of the world’s most iconic companies adds to a series of probes launched last year following the LuxLeaks affair.
EU commissioner for competition Margrethe Vestager announced […]
Greencore, the Irish-based food-to-go company, has reported a 13.5% increase in pre-tax profits for the year to the end of September.
Figures published this morning show Greencore, the largest maker of pre-packaged sandwiches in Europe, had revenue of £1.34 billion, a 5.2% jump in revenue. Adjusted pre-tax profits rose to £78m from £68.7m.
Greencore said it experienced growth […]
Guinness is launching an experimental brewery in Dublin today at The Open Gate Brewery, St. James’s Gate. The brewery will be located just beside the main entrance and will be open to the public.
Beer enthusiasts will get the chance to try beers that are not yet on the market or beers that may never be launched.
The experimental […]
The Irish drinks industry has the potential to double exports to more than €2 billion over the next 15 years and create 13,000 new jobs, according to a new report.
The report, carried out by agri-food economist Ciaran Fitzgerald and commissioned by the Alcohol Beverage Federation of Ireland, found that many of these jobs could be […]
The Pratt family behind the Avoca chain of luxury retail outlets and cafés have agreed to sell US catering group Aramark for a price rumoured to be upwards of €60 million.
Aramark plan to “internationalise” the brand which raises the prospect of eventual expansion into the US market.
The deal is subject to approval from the Competition and […]
KSG caters 12 million meals annually
The Hogan family, which owns 50 percent of catering services company Kylemore Services Group (KSG), has made a €6.54m offer to Irish distribution group DCC to acquire its 50 percent shareholding in the group.
KSG chief executive Brian Hogan said: “As a shareholder in KSG since 1999, DCC has provided excellent […]
Glanbia’s Global Performance Nutrition division saw revenues rising by 3.8 percent
Glanbia is in advanced discussions about a $140m project to expand cheese and whey production at its New Mexico plant.
The expansion,with its joint venture partner South West Cheese, will take two years and will boost production capacity by 25 percent.
Glanbia said it is experiencing a surge […]
Le Pain Quotidien began as an organic bakery in Brussels 25 years ago and now operates across five continents
Global restaurant and boulangerie, Le Pain Quotidien, opens the doors of it’s first Irish location today.
The launch today in Kildare Village represents the beginning of a wider expansion in to Ireland. The restaurant plans to open further […]
Largo Foods founder Ray Coyle has this week agreed to sell his final shareholding in the company he established 33 years ago.
The successful business man will sell his 25 percent stake in Largo to Germany’s Intersnack, which has the right to buy his shares as part of the deal which gave it majority control of […]
Pernod Ricard, the French spirits group expects it’s sales to gradually improve this year in its main markets of Europe and the US.
The group, which is the second biggest in the world, said that although their sales in Europe and the US is looking promising, its China sales have fallen 9% in the last three […]
The National Sustainability Summit will take place for the first time on 3 November in the Aviva Stadium, Dublin.
The event will provide a timely platform to discuss and debate the parameters for COP21/CMP11 Conference of the Parties to the United Nationas Framework Convention on Climate Change (Paris 2015) that is fast approaching on 30 November, […]
The European Union is demanding that U.S. coffee chain Starbucks and carmaker Fiat repay up to 30 million euros each in tax breaks they received from EU nations, in a major ruling to cut down on sweet tax deals multinationals often shop for.
“All companies, big or small, multinational or not, should pay their fair share […]
The coffee giant is planning to break the norm at it’s new store in London. The store near Covent Garden will be a new Star Reserve store which will cater to a more discerning customer.
Rhys Iley, vice president of Starbucks’ operations for Europe, Middle East and Africa, said “London is the most competitive espresso market […]
Chief executive Emmet O’Neill told RTE’s Morning Ireland that the company was “playing with those ideas at the moment”.
“Where we do have sites that are small forecourts, often what we find now is the demand is for food there as opposed to for fuel,” he said.
He said the move could potentially save money because of […]
Kerry Group has spent $735m (€646m) on three US acquisitions, with chief executive Stan McCarthy saying the businesses provided the company with “tremendous growth opportunities”.
The group is buying Wisconsin-based Red Arrow Products; Massachusetts-based Island Oasis; and Biothera’s Wellmune.
Kerry said that last year the three businesses had combined turnover of $301m (€264m) and generated earnings before […]
Food giant Nestle today lowered its full-year outlook as a Maggi noodle scandal continued to drag down third-quarter sales.
The world’s largest packaged food company’s sales dropped 2.1% to 64.9 billion Swiss francs in the nine months to September, missing analysts’ forecast of 65.9 billion francs in a Reuters poll.
“After a good performance in the first […]
With Android phones becoming so commonplace, so what if they are compared to sugar water? In fact, Pepsi appears to have gone full hog and licensed its trademark for use in a new line-up of US$200 smartphones.
PepsiCo Inc is working with a licensing partner to make a line-up of mobile phones and accessories in the […]
Anheuser-Busch InBev has agreed in principle to buy SABMiller for approximately £68 billion or €92 billion, raising its bid after several rejections to clinch a record deal within the industry.
It will bring one out of every three beers sold worldwide under a single company.
The Budweiser maker will pay £44 a share in cash for a […]
C&C shareholders are pushing for a strategic overhaul of the company following a sequence of earnings downgrades, a profit warning and a massive writedown in the value of its US business.
The company behind the Bulmers and Magners cider brands has been under pressure to hold its market share in Ireland and Britain in the face […]
A dream to bring pure pot still Irish whiskey back to the West of Ireland after an absence of over 100 years took its first official step when The Connacht Whiskey Distillery in Ballina, Co. Mayo was opened by An Taoiseach, Enda Kenny, T.D.
The €10m investment will generate 40 new jobs at the 27,000 square […]
Cork retail group Musgrave – the owner of the SuperValu and Centra brands – has signed a deal with New Zealand wine maker Invivo, in which Irish comedian Graham Norton has a stake, to stock its ‘GN’ sauvignon blanc in a major expansion for the brand.
The wine is due to be launched this month in […]