Food giant sells out of Zimbabwe
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The state takes full control of one of Zimbabwe's main food processors by buying out US firm HJ Heinz.
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LONDON (CBS.MW) -- UK food supplier Big Food Group (UK:BFP) posted a 3.3 percent drop in same-store sales for the 13 weeks ending Oct. 1. &quot;Trading has remained tough in the food sector in recent months for
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NATIONAL Foods hauled up the auction flag yesterday signalling that the Australian dairy giant could change hands for $1.81 billion.
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Business & money: Troubled supermarket chain will close around 90 of its stores.
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Zimbabwe has clinched a deal to export 5,000 tonnes of beef to Hong Kong from next year, the first such long-distance order in five years, an official said.
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McDonald's Corp. , the world's biggest restaurant company, on Tuesday posted a quarterly net loss after taking a big charge for the sale of its outlets in Latin America.
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The manufacturer of Aga cookers is considering splitting its business and selling off part of it.
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A consortium led by Icelandic retailer Baugur has agreed a Â£326m cash takeover of Big Food Group. The buyer plans to sell Big Food&#39;s struggling Iceland chain to a separate entity owned by investors such as Icelandic lender Kaupthing Bank.
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Bird&#39;s Custard and Angel Delight have been sold for Â£70m to Premier Foods, the group which owns Ambrosia rice pudding and Rowntree&#39;s jelly.
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Business & money: World's biggest fast food chain surprises Wall St with warning that consumers are cutting back on Big Macs
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Unilever today announced that it was closing a Birds Eye frozen ready meal factory in Grimsby with the loss of 600 jobs. The consumer products giant said the decision to shut the Lincolnshire plant had followed
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The buyout, which could be completed by the end of this year, will make PilgrimÂs Pride the countryÂs top chicken producer, eclipsing Tyson Foods.
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Business & money: Fast food giant supersizes its dividend after reporting sales sizzling across the world.
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The food giant H. J. Heinz, one of Zimbabweâs first major foreign investors, sold its Zimbabwe interests to Cottco, a government-controlled cotton company. Cottco paid $6.8 million for Heinzâs 49 percent stake in Olivine Industries, a Zimbabwe company that makes fats, edible oils and soaps. The government previously shared ownership of Olivine with Heinz. Industry executives dismissed reports in the state media that called the Heinz deal the first in a much-publicized program by the government to take over white-controlled businesses. The executives said the deal was in negotiation months before plans were announced by President Robert G. Mugabe this year to force all businesses to yield 51 percent of their ownership to black Zimbabweans, a campaign the government calls âindigenization.â Heinz was one of the first major foreign investors after independence in 1980.
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Kraft, the struggling American food group, yesterday announced the $1.5bn (Â£810m) sale of its Life Savers and Altoids confectionery division to the chewing gum business Wm Wrigley Jr.
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Tell that to Leeds-based Arla Foods whose shares slipped by four per cent yesterday after supermarket giant Sainsbury&#39;s announced that it would no longer be among its milk suppliers.
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LONDON Mars, the candy and food company that owns brands like Milky Way and Starburst, said Thursday that it was consolidating much of its global advertising account with units of Omnicom Group, dealing a blow to Grey Global Group and its soon-to-be parent