News for the baking industry
Thomasville / GA. (ffi) Flowers Foods Inc. announced it has entered into a definitive merger agreement with Holsum Bakery Inc.. The agreement is subject to regulatory approval under the Hart-Scott-Rodino Act and other conditions. The merger will be structured as a merger of a wholly owed subsidiary of Flowers in exchange for cash and Flowers stock.
Omaha / NE. (caf) ConAgra Foods Inc. announced that diluted EPS for its fiscal 2008 fourth quarter ended May 25, 2008, will be higher than the company´s original EPS estimate of 0,30 USD to 0,35 USD, excluding items impacting comparability.
Minneapolis / MN. (gm) The General Mills Inc. Board of Directors approved a quarterly dividend increase to 0,43 USD per share, payable August 01, 2008, to shareholders of record July 10, 2008.
Sint-Niklaas / BE. (cg) Chocolaterie Guylian NV, one of the world´s leading brands of premium Belgian boxed chocolates, announced that it has reached an agreement to partner with Lotte Confectionary Co. Ltd., the Korean-Japanese Lotte Group´s publicly listed subsidiary specializing in confectionery.
Winston-Salem / NC. (kkd) Krispy Kreme Doughnuts Inc. reported financial results for the first quarter of fiscal 2009, ended May 04. Net income for the Q1/2009 was 4,0 million USD, compared to a net loss of 7,4 million USD in the first quarter last year.
White Plains / NY. (bl) Bunge Limited and Corn Products International Inc. announced that they have entered into a definitive agreement in which Bunge will acquire Corn Products in an all-stock transaction. The aggregate transaction value is approximately 4,8 billion USD, including assumption of approximately 414 million USD of Corn Products´ net debt.
Copenhagen / DK. (das) 2007/2008 was an eventful year for Danisco A/S. The company completed a strategic review of its business model and financial ambitions, the results of which have started to materialise through its decisions to exit Sugar and Flavours as well as through our recently announced second-generation bioethanol joint venture with DuPont.
Düsseldorf / DE. (md) InterMopro, InterCool and InterMeat extend their position as the most important European meeting point in the freshness sectors. Concurrence with hogatec generates synergies and new visitors from the hotel trade, gastronomy and institutional catering – we read in the review 2006.
Munich / DE. (ghm) With an increase of 13 percent in terms of exhibitors and twelve percent more visitors, Bakery China came to an end at the Shanghai New International Expo Centre on May 22. For three days, 900 companies from around the world presented their latest technologies at the international trade fair.
Oslo / NO. (og) Norwegian Orkla Brands is selling its shareholding in Czech Guseppe. The company acquiring the shares is Germany-based Dr. Oetker. Under the agreement, Dr. Oetker will take over 100 percent of the shares in Guseppe.
