News for the baking industry
New Delhi / IN. (wib) India´s economy is growing as fast as China´s and therefore not to be underestimated. In the news we often read about the People´s Republic of China and Southeast Asia – Reports about the economic growth of the sub continent are amazingly reserved against that.
Tel Aviv / IL. (jp) According to «Jerusalem Post», the Israeli Knesset Economic Affairs Committee ordered bakeries to temporarily begin producing price controlled bread and called upon the government to form a special committee to investigate and settle the matter of government controlled bread prices.
Austin / TX. (ssc) Sandwich chain Schlotzsky´s Ltd. – subsidiary of Atlanta based franchisor Focus Brands Inc. – wants to open ten locations in the Nashville area within the next five years. The Nashville expansion is part of a national growth strategy that calls for opening 50 restaurants per year, according to a release.
Harare / ZW. (wib) It´s reported that over 1.300 shop owners and business managers have been arrested in a bizarre attempt by Robert Mugabe´s regime to enforce price controls in the country. State media reports say most of those arrested have been fined, while 33 company executives picked up Friday appeared in court Monday.
London / UK. (pf) Premier Foods PLC reported that it was selling off its frozen foods business as it revealed that comparative sales during the first six months of the year are expected to dip, hit by competition for bread and rising wheat prices. The company is understood to already in talks with parties about buying its frozen foods group, acquired with the 1,2 billion GBP purchase of RHM PLC in December 2006 («Hovis», «Mr. Kipling», «Bisto» …), which generates annual sales of 50 million GBP.
Harare / ZW. (wib) Police arrested 16 more business leaders in a crackdown on those suspected of violating the government´s order to slash prices by 50 percent, the official media reported this days. The mandated price cuts are a desperate attempt to confront inflation that has spun out of control during Zimbabwe´s economic crisis.
London / UK. (wib) Sandwich chain Pret a Manger Limited plans to appoint bankers this autumn for a 500 to 700 million GBP initial public offering (IPO), The British Sunday Express reports citing an unnamed source. The paper added that Pret advisor NM Rothschild has told private equity firms that the chain could also be sold.
St. Louis / MO. (wib) Panera Bread Company reports that revenue jumped 28 percent in the second quarter as its systemwide same-store sales climbed 2,3 percent for the four weeks ended June 26. In that period, company-owned bakery-cafe sales rose 2,1 percent and sales in franchise-operated units were up 2,4 percent.
Southport / AU. (wib) Australian Retail Food Group Limited (RFG) manages under licence the Donut King and bb´s cafe brands throughout Australia and New Zealand. With headquarter in Queensland RFG now announces that the group´s interest in Brumby´s Bakeries Holdings Limited surpasses 90 percent.
Nashville / TN. (nbj) Tennessee Bun Co. and Nashville Bun Co. recently expanded its contract with its largest customer McDonald´s to supply buns and rolls to locations in Puerto Rico. McDonald´s footprint there encompasses 112 restaurants.
