Biggest movements of 2012: Buyouts, JVs and those left up for sale…
Kellogg snaps up Pringles
Cereal giant Kellogg Company became the globe’s number two snack player with its $2.7bn buyout of Pringles. The deal was confirmed in February and passed in June.
Diamond Foods was in the bidding for the iconic snack brand but its bid collapsed as it removed its CEO and CFO over improper accounting.
Flowers Foods seals Lepage Bakeries buy
Flowers Foods paid out $370m for its purchase of Lepage Bakeries in a move set to expand its presence into new US territories. The deal was confirmed in June and finalized mid-June.
Its CEO said it represented part of the wider puzzle towards industry consolidation.
Intersnack snatches KP Snacks
Intersnack snatched KP Snacks in a deal rumored to be around $600m this month after six years of ‘eyeing’ it.
United Biscuits was the focus of many takeover rumors over the year, with Wahaha and Kellogg among the rumored suitors.
Bright Food wins Weetabix
Bright Food won Weetabix for £1.2bn ($1.95bn) back in November after the initial buyout announcement was made in May.
The Chinese state-owned food major said it will enable it to gain traction in the UK and global cereal markets and bring the brand to China and Asia.
Markel Bakery Group adds AMF and Reading Bakery Systems
Markel Bakery Group snapped up AMF Bakery Systems and Reading Bakery Systems this year for an undisclosed sum.
The two machinery manufacturers now join Tromp Bakery Equipment under a new three-pronged business set to fulfil a broad reach across the industry.
General Mills purchases Yoki Alimentos
General Mills snapped up Brazilian food and snack maker Yoki Alimentos for 1.95 reais (around $853m) in May.
It said the move would double its annual sales in Latin America.
Joining forces…
This year has also seen a number of joint ventures struck.
Kellogg joined forces with Wilmar International to set up a Chinese cereal and snacks business.
Puratos inked a joint venture in Vietmam with Belgian chocolatier Grand-Place to seize on the surging demand in the country for bakery, patisserie and chocolate.
Roquette struck an Indian starch joint venture through its purchase of three starch production sites in the country in a move set to strengthen its presence in the Asian market.
‘Up for sale’
While the year has seen a lot of cash handovers, there are also big names now ‘up for grabs’ as we head into 2013.
Top of the charts is Hostess Brands – maker of Twinkies, Wonderbread and Ding-Dongs. Bids are set to be sealed in January.
CSM’s bakery supplies business is still up for sale as it moves to reposition itself as a bio-ingredients firm. The firm has said the divestment should take place in mid-2013.
