Martinne's Feed
Feb 27, 2013

BCBG exploring sale, may fetch $1 bln -sources

NEW YORK, Feb 27 (Reuters) – Fashion house BCBG Max Azria
Group Inc, whose clothing has been worn by celebrities such as
Beyonce and Angelina Jolie, is exploring a potential sale that
could fetch around $1 billion, two people familiar with the
matter said on Wednesday.

The company, which owns the BCBGeneration, Max Azria and
Herve Leger lines, is being advised by Blackstone Group
on the sale process, said the people, who declined to be named
because the talks are private.

Feb 27, 2013

Flowers Foods to win Hostess’ Wonder Bread -source

Feb 27 (Reuters) – Flowers Foods Inc is set to buy
Wonder Bread and some other brands owned by Hostess Brands Inc
for $360 million, a source familiar with the matter
said on Wednesday, giving the No. 2 U.S. baking company a bigger
slice of the fast-consolidating bread business.

Pending approval from a U.S. bankruptcy court judge, Wonder
Bread, along with Butternut, Home Pride, Merita and Nature’s
Pride, will go to Flowers after no other bidder stepped up to
make a competing offer, the source said.

Feb 27, 2013

Exclusive: Flowers Foods set to buy Wonder bread – source

By Martinne Geller

(Reuters) – Flowers Foods Inc (FLO.N: Quote, Profile, Research, Stock Buzz) is set to buy Hostess bread brands including Wonder bread for $360 million after no other bidder stepped up to make a competing offer, a source familiar with the matter said on Wednesday.

The bankrupt bakery company was set to run an auction on Thursday for the brands, which also include Butternut, Home Pride, Merita and Nature’s Pride, but there will be no auction since there were no other bids, the source said.

Feb 27, 2013

Flowers Foods set to buy Wonder bread -source

Feb 27 (Reuters) – Flowers Foods Inc is set to buy
Hostess bread brands including Wonder bread for $360 million
after no other bidder stepped up to make a competing offer, a
source familiar with the matter said on Wednesday.

The bankrupt bakery company was set to run an auction on
Thursday for the brands, which also include Butternut, Home
Pride, Merita and Nature’s Pride, but there will be no auction
since there were no other bids, the source said.

Feb 23, 2013

Buffett deal for Heinz a wake-up call to food industry

BOCA RATON, Florida (Reuters) – The $23 billion buyout of H.J. Heinz (HNZ.N: Quote, Profile, Research, Stock Buzz) by Warren Buffett and private equity put food executives on notice: start showing better results or risk being left behind.

The deal, and the ripples it creates in the sector, was the buzz of the consumer industry’s annual get-together in Florida this week, sponsored by the Consumer Analyst Group of New York.

Feb 21, 2013

Heinz deal prompts Campbell Soup to look closely at costs

BOCA RATON, Florida (Reuters) – The planned $23 billion acquisition of H.J. Heinz Co (HNZ.N: Quote, Profile, Research, Stock Buzz) by Berkshire Hathaway Inc (BRKa.N: Quote, Profile, Research, Stock Buzz) and 3G Capital is leading rival Campbell Soup Co (CPB.N: Quote, Profile, Research, Stock Buzz) to take a closer look at its own cost structure, the soup company’s chief executive told Reuters on Wednesday.

3G is run by investors who bought Burger King Worldwide Inc (BKW.N: Quote, Profile, Research, Stock Buzz) and helped engineer the formation of Anheuser Busch InBev (ABI.BR: Quote, Profile, Research, Stock Buzz). They are known for cutting costs and running very efficient businesses, and Campbell CEO Denise Morrison does not want to stand pat.

Feb 20, 2013

Heinz deal a “call to action” for Campbell Soup

BOCA RATON, Florida (Reuters) – The planned $23 billion acquisition of H.J. Heinz Co (HNZ.N: Quote, Profile, Research, Stock Buzz) by Berkshire Hathaway Inc (BRKa.N: Quote, Profile, Research, Stock Buzz) and 3G Capital is leading rival Campbell Soup Co (CPB.N: Quote, Profile, Research, Stock Buzz) to take a closer look at its own cost structure, the soup company’s chief executive told Reuters on Wednesday.

3G is run by investors who bought Burger King Worldwide Inc (BKW.N: Quote, Profile, Research, Stock Buzz) and helped engineer the formation of Anheuser Busch InBev (ABI.BR: Quote, Profile, Research, Stock Buzz). They are known for cutting costs and running very efficient businesses, and Campbell CEO Denise Morrison does not want to stand pat.

Feb 20, 2013

SABMiller CEO’s successor to get less boost from deals

, Feb 20 (Reuters) – One of the biggest
challenges facing the incoming chief executive of SABMiller Plc
will be continuing to grow the business as strongly in a
world with fewer acquisitions to make, according to its outgoing
chief executive.

With the global beer industry undergoing a wave of
consolidation over the last two decades, brewers can no longer
count on much of a boost from mergers and acquisitions – deals
that helped transition SABMiller from a regional South African
brewer to the world’s second-biggest, with over 200 brands
ranging from Miller Lite to Peroni to Grolsch.

Feb 15, 2013

Kraft Foods revenue hurt by Oscar Mayer share loss

Feb 15 (Reuters) – Kraft Foods Group Inc said on
Friday it expects to report a 10.7 percent decline in
fourth-quarter revenue, saying it failed to adequately tailor
some products, particularly its Oscar Mayer lunch meat, to meet
consumer demand for lower-priced foods.

The news from Kraft comes on the heels of disappointing
results from Mondelez International, which used to be
combined with Kraft before the companies split late last year.

Feb 15, 2013

Campbell Soup profit beats Street; sales rise 10 percent

Feb 15 (Reuters) – Campbell Soup reported a
higher-than-expected quarterly profit on Friday as gains in its
soup and snacks businesses offset a decline in its drinks unit.

The company, which also sells V8 juices, Pepperidge Farm
cookies and Prego pasta sauces, said U.S. soup sales rose 1
percent from the year-earlier period. Sales rose 7 percent for
snacks and fell 3 percent for U.S. beverages.