BEMA - June 2018 - 75

MERGERS AND ACQUISITIONS

to their customers. "Consolidation also eliminates
the cyclical risks of equipment purchases, which
JUHDWO\DႇHFWVWKH¿QDQFLDOVWDELOLW\RIVPDOOHUPDQufacturers," noted Mr. Salman, whose group inFOXGHVVXFKEUDQGVDV$XWR%DNH%DNHU7KHUPDO
6ROXWLRQV%XUIRUGDQG6WHZDUW6\VWHPV

Consolidation's impact on BEMA
Baking & Snack's 2018 Capital Expenditure survey
DVNHGEDNHU\H[HFXWLYHVKRZWKH\SHUFHLYHWKLVFRQVROLGDWLRQ DIIHFWLQJ EXVLQHVVHV LQ UHODWLRQ WR FDSLWDO
LQYHVWPHQW SODQV :KHQ TXHULHG DERXW EHQHILWV RI
supplier consolidation, 68% of respondents indicated
increased innovation. Nearly two-thirds recognized
the advantages of enhanced resources and technical
support, and 56% said they saw more turnkey solutions as a positive factor. Nearly half (47%) identified
international representation as another plus.
$V IRU %(0$ 0U &RRN RႇHUHG D EXOOLVK SHUspective in this sea of change. "Despite consoliGDWLRQ DPRQJ EDNHU\ HTXLSPHQW PDQXIDFWXUHUV
SDUWLFLSDWLRQ LQ %(0$ VHHPV WR EH DW DQ DOOWLPH
high," he said. "It is my perception that, even if the
QXPEHURIFRPSDQLHVKDVGHFUHDVHGWKHQXPEHU
of individual participants has gone up."
5HÀHFWLQJ RQ %(0$¶V FHQWHQQLDO 0U 6DOPDQ
VDLGKH¶VSURXGWRKDYHEHHQVXSSRUWLYHRI%(0$
during his 30-year career.
Looking forward, don't look for consolidation to
end. "It will not reverse," Mr. Salman said. "It will
NHHSJRLQJDOEHLWDWDVORZHUSDFH´

A wide stream of
investors has poured
into the industry
bolstering regional and
product-specific bakeries
into prominence - even
serving customers on
a national basis.
On the other hand, Mr. Newsome suggested
mergers and acquisitions are moving at a faster
SDFH DV PRUH SXEOLF FRPSDQLHV DQG SULYDWH HTXLW\¿UPVEHFRPHLQWHUHVWHGLQWKHLQGXVWU\³$0)
%DNHU\ 6\VWHPV KDV EHHQ D OHDGLQJ FRQVROLGDWRU
LQ WKH LQGXVWULDO EUHDG DQG EXQ VHJPHQW IRU WKH
past 20 years, so we understand all of the ups and
downs of consolidation," he added.
Either way, Mr. Cook said, consolidation will
continue where it provides advantages in the
PDUNHWSODFH³%DNHUVDUHORRNLQJIRU²HYHQGHPDQGLQJ²LQFUHDVHGYDOXHIURPWKHLUVXSSOLHUV´
KH H[SODLQHG ³$V ORQJ DV FRQVROLGDWLRQ GULYHV
gains in productivity, reduction in cost of operaWLRQDQGRUUHGXFWLRQRIULVNLWZLOOFRQWLQXHWREHD
factor in our industry."
BEMA

www.bema.org | 2018 | BEMA100

75


http://www.bema.org

Table of Contents for the Digital Edition of BEMA - June 2018

BEMA - June 2018
BEMA Staff and Executive Commitee
Letters from BEMA
Sharing #BEMAsmarts
BEMA's 100th Anniversary Celebration
What Happens in Vegas
Founding Fathers
Signs of the Times
Family Ties
Recognizing Individual Honors
The Future is Now
Matchmaker, Matchmaker
In the Face of Consolidation
Modern Membership
A Forum for All
Leaving a Legacy
Guestbook
Who, When and Where
BEMA - June 2018 - BEMA - June 2018
BEMA - June 2018 - 2
BEMA - June 2018 - 3
BEMA - June 2018 - 4
BEMA - June 2018 - 5
BEMA - June 2018 - 6
BEMA - June 2018 - 7
BEMA - June 2018 - BEMA Staff and Executive Commitee
BEMA - June 2018 - 9
BEMA - June 2018 - Letters from BEMA
BEMA - June 2018 - 11
BEMA - June 2018 - 12
BEMA - June 2018 - 13
BEMA - June 2018 - 14
BEMA - June 2018 - 15
BEMA - June 2018 - Sharing #BEMAsmarts
BEMA - June 2018 - 17
BEMA - June 2018 - 18
BEMA - June 2018 - BEMA's 100th Anniversary Celebration
BEMA - June 2018 - 20
BEMA - June 2018 - 21
BEMA - June 2018 - 22
BEMA - June 2018 - 23
BEMA - June 2018 - 24
BEMA - June 2018 - 25
BEMA - June 2018 - 26
BEMA - June 2018 - 27
BEMA - June 2018 - 28
BEMA - June 2018 - 29
BEMA - June 2018 - 30
BEMA - June 2018 - 31
BEMA - June 2018 - 32
BEMA - June 2018 - 33
BEMA - June 2018 - 34
BEMA - June 2018 - 35
BEMA - June 2018 - 36
BEMA - June 2018 - What Happens in Vegas
BEMA - June 2018 - 38
BEMA - June 2018 - 39
BEMA - June 2018 - 40
BEMA - June 2018 - 41
BEMA - June 2018 - 42
BEMA - June 2018 - Founding Fathers
BEMA - June 2018 - 44
BEMA - June 2018 - 45
BEMA - June 2018 - 46
BEMA - June 2018 - 47
BEMA - June 2018 - 48
BEMA - June 2018 - Signs of the Times
BEMA - June 2018 - 50
BEMA - June 2018 - 51
BEMA - June 2018 - 52
BEMA - June 2018 - Family Ties
BEMA - June 2018 - 54
BEMA - June 2018 - 55
BEMA - June 2018 - 56
BEMA - June 2018 - 57
BEMA - June 2018 - 58
BEMA - June 2018 - 59
BEMA - June 2018 - 60
BEMA - June 2018 - 61
BEMA - June 2018 - 62
BEMA - June 2018 - 63
BEMA - June 2018 - Recognizing Individual Honors
BEMA - June 2018 - 65
BEMA - June 2018 - 66
BEMA - June 2018 - 67
BEMA - June 2018 - The Future is Now
BEMA - June 2018 - 69
BEMA - June 2018 - 70
BEMA - June 2018 - 71
BEMA - June 2018 - Matchmaker, Matchmaker
BEMA - June 2018 - 73
BEMA - June 2018 - In the Face of Consolidation
BEMA - June 2018 - 75
BEMA - June 2018 - Modern Membership
BEMA - June 2018 - 77
BEMA - June 2018 - 78
BEMA - June 2018 - A Forum for All
BEMA - June 2018 - 80
BEMA - June 2018 - Leaving a Legacy
BEMA - June 2018 - 82
BEMA - June 2018 - 83
BEMA - June 2018 - Guestbook
BEMA - June 2018 - 85
BEMA - June 2018 - 86
BEMA - June 2018 - 87
BEMA - June 2018 - 88
BEMA - June 2018 - 89
BEMA - June 2018 - 90
BEMA - June 2018 - 91
BEMA - June 2018 - 92
BEMA - June 2018 - 93
BEMA - June 2018 - 94
BEMA - June 2018 - 95
BEMA - June 2018 - Who, When and Where
BEMA - June 2018 - 97
BEMA - June 2018 - 98
BEMA - June 2018 - 99
BEMA - June 2018 - 100
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