October 30th, 2003
After a series of acquisitions conducted throughout 2002 and at the beginning of 2003 (Dandy, Kent and Adams) Cadbury Schweppes is now in a position where restructuring its food business is a must. The company announced it is planning to cut 10% of its workforce (5,500 employees worldwide) over the coming three years across its business units.
May 2nd, 2003
On 20 December 2002, Heinz sold various non-core businesses, including North American pet food, US seafood, infant nutrition and private label soup to canned food producer Del Monte Foods.
October 30th, 2002
Mars and Nestlé have both undertaken major takeovers in the face of stagnating pet food sales in recent years, triggered by a shift in consumer demand towards premium and dry varieties, while the companies’ offerings were skewed towards wet and mid-priced products. The purchase by Nestlé of US dry pet food specialist Ralston Purina in 2001 was followed one year later by Mars with the takeover of French dry and super-premium pet food firm Royal Canin.
September 5th, 2002
Speculation is increasing that Unilever is looking for a buyer for its Cosmetics International business, encompassing designer fragrance brands such as Calvin Klein, Cerruti and Karl Lagerfeld. The sale could yield up to US$750 mn in proceeds, and would mark a complete withdrawal of the company from the premium fragrance arena.
July 29th, 2002
America’s largest confectionery company is up for sale and speculation is rife over which of its competitors might acquire it for an estimated US$10 billion. Nestlé, Kraft and Cadbury Schweppes have all been touted as potential suitors, with Mars almost definitely ruled out by anti-trust legislation. The move is likely to affect Pfizer’s sale of Adams, which might sell for less than the expected US$4 billion if there is less competition to purchase it, and might encourage Mars to acquire smaller confectionery interests to bolster its share of the US market.
July 2nd, 2002
Cadbury Schweppes announced on Friday the acquisition of the branded chewing gum business of Dandy A/S for €310 million. Danish company Dandy, wholly owned by the Bagger-Sørensen family, boasts core brands Stimorol, Dirol and V6, which together accounted for almost 4% of global sales of chewing gum in 2001