ARYZTA Releases Q1 Financial Results

Q1 2020 Performance Overview

Group organic revenue declined by (2.5)% during the quarter. ARYZTA Europe organic revenue declined by (0.9)%, reflecting our focus on profitable revenue. ARYZTA North America organic revenue declined by (6.1)%, as previously indicated. ARYZTA Rest of World had another strong performance with organic revenue growth of 7.5%.

Group reported revenue declined by (2.1)% to €843.9m, reflecting the impact from disposals of (1.6)% and a positive currency impact of 2.0%.

Q1 2020 Performance Summary

ARYZTA AG Chief Executive Officer, Kevin Toland, commented...

Rabobank's Global Protein Outlook for 2020

In 2020, global animal protein faces an uncertain world, but opportunities can still be found. African swine fever dominates the outlook, having generated unprecedented change in 2019 – and we expect more in 2020. Trade disputes and sustainability are other notable challenges in the global animal protein complex. But there are also opportunities in global animal protein, such as recovery from ASF, winning on sustainability, and investing to secure ongoing trade flows.

Global Summary

African swine fever (ASF) overwhelms the outlook for 2020 – as it has done during 2019 – and will pull down overall growth, as well as bring uncertainty to...

Cargill Opens a Culinary Experience Hub in Belgium

Cargill has opened a Culinary Experience Hub in its research & development site (R&D) in Vilvoorde, Belgium. Customers from across the EMEA (Europe, Middle East and Africa) region are invited to solve their food formulation challenges and co-create new ingredients and recipes alongside Cargill’s food experts. The facility features a bakery pilot plant, a regional frying center and a culinary tasting area with capabilities for dairy, beverage, bakery, convenience foods and culinary applications.

Vilvoorde is one of Cargill’s first culinary experience centers. The center is specialized in research and development into new food ingredients and recipes, as has a professional chef, who works with customers to either adapt existing products to evolving consumer demands, or to develop new products from...

Kerry Group Reports Financial Results for the Third Quarter 

Kerry, the global taste & nutrition and consumer foods group, issues the following Interim Management Statement for the nine months ended 30 September 2019.

Q3 YTD Key Highlights

• 3.1% growth in business volumes
— Taste & Nutrition +3.9%
— Consumer Foods -0.7% (excluding contract exit +0.6%)
• Pricing -0.1%
• Reported revenue +10.0%
• Group trading margin +20bps
— Taste & Nutrition +20bps...

Associated British Foods Reports Annual Financial Results 

Associated British Foods has announced financial results for fiscal year 2019.

Statutory operating profit down 5% to £1,282m mainly as a result of an exceptional charge of £79m included in this year’s income statement. This year includes a greater loss on closure of businesses, and so statutory profit before tax was down 8% to £1,173m and basic earnings per share were down 13% to 111.1p.

George Weston, Chief Executive of Associated British Foods, said...

Symrise Successfully Closes Acquisition of ADF/IDF

Symrise AG today announced that it has successfully completed the acquisition of ADF/IDF, a leading U.S. meat and egg-based protein specialist and pioneer in all-natural nutrition ingredients. The acquisition has been cleared by the Antitrust Division of the U.S. Department of Justice (DOJ). Symrise will now begin the process of integrating ADF/IDF. With its comprehensive portfolio of solutions for the food and pet food industries, ADF/IDF will complement the Nutrition portfolio with a highly diversified range of natural based solutions.

"We very much look forward to teaming up with ADF/IDF given our shared focus on innovation and meeting customer needs. Together, we will work to continue expanding our diverse solutions portfolio using the highest quality natural ingredients. Our combined reach will allow us to expand...

Vion Invests in a Dedicated Plant-Based Site in Leeuwarden

Vion CEO Ronald Lotgerink announced earlier this year to introduce meat alternatives as part of the company’s strategy of building food chains based on the market demand. Vion is now planning to open a dedicated plant-based site in Leeuwarden (NL).

The market for meat alternatives has been growing over the past few years and it is expected to continue to grow. Next to Vion’s home markets in the Netherlands and Germany, other parts of Europe like the UK, Italy and France are also growing markets for meat alternatives. This is mainly the result of eating habits of so-called flexitarians, who regularly buy these products.

The Vion site in Leeuwarden was built in 2017 and is currently operating as a beef facility. It was built according to the latest standards, which means...

Challenging Harvesting and Sowing Conditions in Europe, According to Latest Bulletin

Farmers in many parts of Europe had trouble harvesting summer crops and sowing the winter crops for next year’s season, either because it was too dry or because it was too wet, according to the European Commission’s JRC MARS Bulletin published October 28.

Overall, the bulletin said yield forecasts for summer crops had been revised slightly downward but no adjustments were made to the yield forecasts of winter crops.

In most parts of Europe, the review period, from 1 September to 20 October, was...

Kemin EMEA Relocates Production of Its Food Safety Production Lines 

Kemin Industries, a global ingredient manufacturer that strives to sustainably transform the quality of life every day for 80 percent of the world with its products and services, has centralized the Europe, Middle East and Africa (EMEA) supply chain for BactoCEASE NV, its clean-label, vinegar-based food safety solution, by establishing production in Europe. This expansion provides a more sustainable supply of the product with reduced delivery time, increased production speed and more flexibility for customers ordering Kemin ingredients in the EMEA region.

“This strategic investment is intended to help ensure continuity and security of our food safety product lines, resulting in a shorter supply chain and faster delivery time for...

Brexit: EU Agri-Food Chain Representatives Welcome the Deal and Call for a Swift Ratification

Strong Performance of EU Agri-Food Exports Continues in August 2019

The value of the EU’s agri-food exports in August 2019 reached €12.07 billion, marking a rise of 5.6% compared to August 2018. As the value of imports decreased by 0.2% to €9.14 billion, the agri-food trade surplus for August stood at €2.93 billion, a 29% increase in the positive trade balance compared to last year’s figures. These are some of the main findings of the monthly trade report for August 2019, published today by the European Commission.

Comparing the monthly export values of August 2019 with August 2018, the highest increases were recorded for China (up €283 million), the USA (a rise of €192 million), and Japan (an increase of €69 million). However, significant falls were recorded in...

Chipotle Enhances Animal Welfare Standards in Canada and Europe 

Chipotle Mexican Grill announced that it's signing the European Chicken Commitment, a venture that will apply even higher animal welfare standards to its entire European supply chain by 2026. Priding itself on serving food with integrity, Chipotle was an early participant in the U.S., supporting the Better Chicken Commitment since 2017 and has now extended this U.S. Broiler commitment to its operations in Canada as well.

Chipotle is committed to cultivating a better world, which means sourcing responsibly raised ingredients. For over 25 years, Chipotle has been an industry leader in exceptional animal welfare standards in the fast-casual space. As a brand started by a classically trained chef with a passion for real food, Chipotle has pioneered...

Pilgrim’s to Acquire Tulip Limited, Creating Integrated Prepared Foods Leader in Europe

Pilgrim’s Pride Corporation today announced that it has signed a contract to acquire Tulip Limited, a leading, integrated prepared foods supplier with 12 fresh and value-added operations in the United Kingdom, from Danish Crown. The transaction solidifies Pilgrim’s as a leading European food company, creating one of the largest integrated prepared foods businesses in the UK with a portfolio of brands and retail private label solutions.

The transaction, unanimously approved by Pilgrim’s Board of Directors and funded with cash on hand, values Tulip Limited at £290 million (or approximately $354 million based on a 1.22 exchange rate as of August 27, 2019). The purchase amount represents 5.4x implied expected EBITDA.

“We are pleased to strengthen our European foods platform with the acquisition of Tulip Limited, which positions Pilgrim’s as a leading global prepared foods player,” said Jayson Penn, Pilgrim’s global chief executive officer. “The transaction represents...

Pork Quarterly Q3 2019: Disease and Trade Issues are Jointly Changing the Global Market

Rising disease pressures are challenging the global market. Specifically, African swine fever (ASF) continues to threaten the global pork market, not only by causing a production drop in Asian countries, but also adding uncertainty to trade and production prospects in other parts of the world. While China’s pork prices have started to move higher, production responses in the rest of the world appear cautious. Other factors, including disease management and weather, are hindering production in Europe and Brazil. The resumption of Sino-US trade negotiations is a positive development, implying a chance for China to review tariffs on US pork imports.

China: Pig Herd Losses Growing

ASF continues to spread in China, with new cases mainly reported in South China. Live hog prices are finally...

Beyond Meat Partners with Zandbergen to Launch Production in Europe

Beyond Meat announced a partnership with Zandbergen World's Finest Meats to produce its plant-based meats at a facility in Europe. The companies expect the facility to be up and running by 2020.

This will mark the first time Beyond Meat will hold production outside of the United States. The new space will allow Beyond Meat to quickly distribute their products to Europe while shrinking their transportation footprint. 

“The consumer response in Europe has been very positive and we look forward to being able to better serve those customers..."

More Wild Boars Detected in Belgium with African Swine Fever in April and May

According to the World Organization of Animal Health (OIE), Belgium reported 18 cases of individual wild boar inflicted with African Swine Fever between April 16^th and May 10^th 2019. All cases were reported and resolved, meaning the affected animals were culled, on the same day. These were the first reported ASF cases in Belgium since September 2018. Belgium continues to be the Western-most European nation afflicted with ASF.

Nestled between France and Germany, these outbreaks present a very real concern for the...