Glenboden M & A Originations
ALL "CONVENIENCE FOOD" LEADS
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Some acquisition targets for Nomad in US frozen foods - Earlier this month, Nomad Foods confirmed that it's looking to acquire 'neglected frozen foods brands' in the US market. There is a whole string of potential targets for Nomad; the key question is whether they can succeed in buying something that's genuinely been 'neglected', and not overpay for an asset in this environment. Read More
Campbell's should make a bigger acquisition - on balance we think Campbell's may survive this cycle's M&A activity, and indeed should seek itself to acquire companies in growing categories or to increase scale and Read More
ConAgra should sell its commercial foods division - While the emphasis seems to be so far on ConAgra's troubled private brands business, we believe that the commercial foods unit should be the divestment priority. Read More
Further M&A options for Nomad after Iglo deal - The question now is which add-on acquisitions could or should Nomad make, to build on the Iglo platform. We look at potential strategy and candidates. Read More
Who else might be on 3G's acquisition radar ? - But who other than Pepsico and Campbell's could or should be on that big -ticket target list ? We tip Kellogg's and, lower -hanging in terms of rationale Read More
Giving main-street M&A sellers a better deal in 2015 - We'd like to draw attention to one potential driver of higher equity values, and thus higher transaction volume, in 'main-street' M&A - changes in valuation methodology, forced by long-term Read More
Is Blackstone the best placed to acquire Iglo from Permira ? - We examine timing, valuation and likely buyers for BEIG, on a rationale basis Read More
Did Greencore overpay for Uniq in UK chilled foods ? - the deal delivers several positives for the group, but we believe the valuation was relatively high; moreover there are risks in integrating Read More
Will Heinz acquire proximity ready foods player in Poland ? - Heinz is looking to boost growth in emerging markets, with Poland as an important geography. We look at the group's competitive Read More
M&A surge in frozen foods - Poland's Hortex next ? - Hortex, frozen market leader in Poland, as a next potential target after deals in Italy and Read More
Nestle purchase of Kraft frozen pizza brings hope to private equity investors - Private equity players might now find a strategic buyer for the big frozen foods bets they've made in Read More
Should Greencore acquire Chiquita's convenience food business ? - divestment of Chiquita's salads and healthy snacks business, to Greencore, a win-win move. Chiquita could then focus on its global produce business Read More
Sale of Uniq's convenience food portfolio starts with lowest-hanging asset - After selling Marie and possibly Lisner, Uniq’s best option is to merge the rump of the business with another convenience food major. Read More
Potential buyers for Uniq’s European convenience food businesses - preferably a private equity buyer, prepared to wait for better times and seek premiumisation opportunities; alternatively to merge to extract cost synergies and increase scale. Read More
Troubled Sadia of Brazil vulnerable to private equity break-up - Sadia represents a classic buy-out opportunity. Attempts to save the company through M&A appear misguided. Read More
Diamond Foods of US needs to acquire in healthier snacks outside nuts - Diamond is over-investing in the US market; overseas acquisitions could make more sense. There are plenty of ‘better-for-you’ snack producers to acquire in Europe. Read More
Rationale for global fresh produce merger of Chiquita and Fyffes - With global banana price pressures, Fyffes would greatly strengthen Chiquita's position in the important European market. Read More
Potential acquirors of vulnerable Bakkavor in convenience foods - It might now be a prime takeover candidate for longer-standing groups, with a more balanced portfolio, that are keen to enhance their presence and scale in the fast –growing chilled convenience foods Read More
Some acquisition options for Bonduelle in prepared vegetables - North America and CEE are likely to be preferred geographies, given Bonduelle’s investment in those regions. We look at criteria and identify potential candidates Read More
M&A options around UK’s no.2 breakfast cereal player Weetabix - Kellogg is back on the acquisition trail in 2008; ABF recently entered the breakfast cereal category; De-Vau-Ge is emerging as the consolidator of independent cereals businesses across Europe. Read More
JPG set for string of fresh juice acquisitions after Friesland purchase - JPG has a very clear path to acquiring a string of other fresh juice production units across the continent. Fresh juice needs to be produced close to where it’s sold. So start looking for candidates. Read More
Options for Campbell Soup's new acquisition agenda - will Campbell affirms its status as a true multinational, by going out and making a bold acquisition or two ? If so there are some obvious candidates, most notably Uncle Ben’s. Read More
Greencore raises the stakes vis-a-vis Bakkavor after US acquisition - There’s a clear case for consolidation of Bakkavor and Greencore, but for the moment both groups continue to grow their footprints with new acquisitions. Read More
Orkla likely to continue to sell its foods businesses in CEE - Orkla might be wise to organize a tender with a timeline to end 2008. They might also add their Russian confectionery businesses, SladCo and Krupskaya, to the divestment list. Read More
Greencore emerging as acquisition candidate in convenience foods - recent activity surrounding Greencore suggests that it might enter the radar screen of Unilever, or another big group like Bakkavor, in the not too distant future Read More
Chiquita may be setting itself up for a significant M&A transaction - Obvious acquisition candidates are Bakkavor and Greencore, especially when both of them are threatening Chiquita in its home market, having recently made market entry acquisitions there. Read More
CapVest and Permira are rival consolidators in European frozen food - After some major buy-outs and add-on acquisitions, two major private equity –backed groups have emerged, CapVest and Permira. An important battleground will be the acquisition of Hortex. Read More
Glisten grows M&A profile with niche deals in better-for-you snacks - This deal is so ‘ultra-niche’, that it looks like even Glisten is having trouble finding ‘mainstream’ acquisitions now, at reasonable valuations, in better-for-you snacks. Read More
Russian meat company sets new standard in M&A transparency - This deal also shows that a no. 4 player in a Russian food category can be bought quite cheaply, against the trend, if that category is meat and if the buyer is another Russian player. Read More
How viable is Northern Foods after selling its bakery businesses ? - Northern's survival will depend on its success in withdrawing from private label frozen pizza and biscuits, and in growing its branded chilled foods segment. Read More
Permira breakthrough into European frozen foods with Unilever purchase - Permira has taken a big and expensive step into the European frozen foods category, where further consolidation opportunities abound. Its main competitor in this space will be CapVest. Read More
Uniq looking vulnerable after divesting its Belgian salads business - Uniq's strategy is challenging because the business it’s keeping are in convenience foods, which have been adversely affected by commodity prices and consumer trading –down. Read More
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