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Food Processing

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Hormel Foods announces merger of its Grocery Products and Specialty Foods segments

Tuesday, 21 Nov 2017

Nov 21 (Reuters) - Hormel Foods Corp :Hormel Foods announces the strategic merger of its Grocery Products and Specialty Foods segments.Hormel Foods - ‍specialty Foods segment been merged into Grocery Products segment,will continue to be led by Luis Marconi, group VP, Grocery Products​.

Orkla to buy Health and Sports Nutrition Group for SEK 360 mln

Tuesday, 21 Nov 2017

Nov 21 (Reuters) - Orkla Asa :Orkla has entered into an agreement to purchase the Swedish company Health and Sports Nutrition Group (HSNG) from Stockholm listed Qliro Group <<>>.Orkla says the parties have agreed on a purchase price of SEK 360 million ($42.43 million) on a debt-free basis.HSNG's operations will be maintained as a separate unit in the Orkla Care business area..HSNG runs the ecommerce portals Gymgrossisten and Bodystore, and is the biggest online health and sport nutrition company in the Nordic region.The transaction is conditional on the approval of the competition authorities in Sweden, Norway and Austria."Orkla's goal is to strengthen its focus on digital marketing and sales, and through this acquisition will gain proximity to a large number of engaged consumers. Health is a priority area for us, and we see good opportunities for collaboration with our existing activities, in the form of greater distribution through traditional sales channels and, not least, enhanced consumer insight," says Stig Ebert Nilssen, Orkla EVP and CEO of Orkla Care.

Bunge announces organizational and leadership team changes

Wednesday, 15 Nov 2017

Nov 15 (Reuters) - Bunge Ltd :Bunge announces organizational and leadership team changes.Bunge Ltd says is ‍simplifying its structure from five operating companies to three regions - North America, South America and Europe/Asia​.

Wilmar International posts third quarter net profit down 5.7 pct to $‍370.0​ mln

Monday, 13 Nov 2017

Nov 13 (Reuters) - Wilmar International Ltd :Qtrly revenue $‍11,128.9​ million versus $11,084.3 million a year ago.Qtrly net profit $‍370.0​ million versus $392.2 million a year ago.‍Expect good performance in oilseeds & grains segment to continue into Q4​.‍performance of other major business segments is expected to be satisfactory in Q4​.Co ‍will continue with our expansion plans, especially in oilseeds and grains including consumer products​.

Kanro to merge with wholly owned food unit

Thursday, 9 Nov 2017

Nov 9 (Reuters) - Kanro Co Ltd <2216.T>:Says it will merge with wholly owned food unit, effective July 1, 2018 .Says the unit will be dissolved after merger .

Bunge reports Q3 GAAP earnings per share $0.59

Wednesday, 1 Nov 2017

Nov 1 (Reuters) - Bunge Ltd :Bunge reports third quarter 2017 results.Q3 GAAP earnings per share $0.59.Q3 earnings per share view $0.73 -- Thomson Reuters I/B/E/S.Bunge Ltd qtrly adjusted earnings per share from continuing operations ‍$0.75​.Qtrly net sales $‍11,423​ million versus $11,423 million.Bunge Ltd - ‍Expect to meet or exceed $15 million 2017 target set out in co's competitiveness program​.Bunge Ltd - E‍arnings improved sequentially and year-over-year, although they continued to be impacted by market and industry headwinds.Bunge Ltd - ‍Reducing earnings guidance for year in agribusiness and sugar & bioenergy​.Bunge Ltd - ‍In grains, higher origination results were driven by improvements in Brazil and Argentina in the quarter​.Q3 revenue view $11.98 billion -- Thomson Reuters I/B/E/S.Bunge - ‍In oilseeds, overall global structural crush margins were compressed during quarter , reflecting farmer retention and excess meal supply.Bunge - ‍Savings from competitiveness program expected to total $100 million with additional $80 million of savings from industrial initiatives in 2018​.Bunge Ltd - ‍Overall, expect sequential earnings improvement in Q4.Bunge Ltd says ‍global oilseed crush and distribution margins continue to track below expectations.

ADM reports third quarter earnings of $0.34 per share, $0.45 per share on an adjusted basis

Tuesday, 31 Oct 2017

Oct 31 (Reuters) - Archer Daniels Midland Co :ADM reports third quarter earnings of $0.34 per share, $0.45 per share on an adjusted basis.Q3 adjusted earnings per share $0.45.Q3 earnings per share $0.34.Q3 earnings per share view $0.55 -- Thomson Reuters I/B/E/S.Archer Daniels Midland Co - qtrly revenues $‍​14,827 million versus $15,832 million last year.Archer Daniels Midland Co qtrly oilseeds processing segment adjusted operating profit of $119 million versus $145 million last year.Archer Daniels Midland Co - qtrly agricultural services segment adjusted operating profit of $‍87​ million versus $195 million last year.Q3 revenue view $16.00 billion -- Thomson Reuters I/B/E/S.Archer Daniels Midland-in oilseeds processing,crushing and origination results in quarter impacted by compressed global crush margins.Archer Daniels Midland-in oilseeds processing,crushing and origination results in quarter also impacted by weak south america origination margins​.Archer Daniels Midland Co - qtrly ‍EPS as reported of $0.34 includes a $0.12 per share charge related to asset impairments and restructuring activities​.Archer Daniels Midland-qtrly segment operating profit includes $63 million charges ($0.07 per share) related to asset impairment, restructuring charges.Archer Daniels - "‍Q3 results were below expectations, as operating environment in AG services, oilseeds businesses was more challenging than anticipated​".

Rhodes Food sees FY headline earnings to fall by between 17.0-22.0 pct

Monday, 30 Oct 2017

Oct 30 (Reuters) - Rhodes Food Group Holdings Ltd ::RHODES FOOD - EXPECTS HEADLINE EARNINGS FOR YEAR TO DECLINE BY BETWEEN 17.0% AND 22.0% OVER RESTATED HEADLINE EARNINGS OF R293.1MILLION FOR PRIOR YEAR​.RHODES FOOD GROUP HOLDINGS LTD - ‍GROUP TURNOVER FOR FINANCIAL YEAR ENDED 1 OCTOBER 2017 INCREASED BY 10.8% OVER PREVIOUS FINANCIAL YEAR​.RHODES FOOD GROUP HOLDINGS LTD - ‍PERFORMANCE OF INTERNATIONAL BUSINESS HAS HAD A "SIGNIFICANT ADVERSE EFFECT" ON GROUP'S PROFITABILITY​.

Cargill says to buy Integral Animal Nutrition

Friday, 27 Oct 2017

Oct 27 (Reuters) - Cargill Inc [RIC:RIC:CARG.UL]::Cargill strengthens its animal nutrition business with a purchase agreement to acquire Integral Animal Nutrition, a cattle feed producer in Brazil.Under agreement, co will purchase 100 percent of Integral's assets, including a production plant located in Goianira, Goiás, Brazil​.The acquisition does not affect current operation plants of Cargill Animal Nutrition in Brazil​.

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