Food Business News - July 19, 2011 - (Page 13)

Nestle to buy 60% interest in Chinese confectioner VEVEY, SWITZERLAND — Nestle has entered an agreement to acquire 60% of Hsu Fu Chi, a manufacturer and distributor of confectionery products in China. The Hsu family will own the remaining 40% of the company. The total investment to be made by Nestle is 1.4 billion Swiss francs ($1.67 billion). In 2010, Hsu Fu Chi reported sales of 669 million Swiss francs ($800 million). The company operates four facilities in China and has approximately 16,000 employees. Hsu Fu Chi produces sugar confectionery, cereal-based snacks, packaged cakes and the traditional Chinese sachima sweet snack, which consists of flour, butter and rock sugar. “This proposed partnership will greatly reinforce our presence in China,” said Paul Bulcke, chief executive officer for Nestle. “It combines Hsu Fu Chi’s strong brands, its large portfolio of products at brands in this dynamic market.” Nestle has had a presence in China for more than 20 years and has 23 manufacturing plants, two R.&D. centers and 14,000 employees in the country. In 2010, its China region recorded sales of 2.8 billion Swiss francs ($3.35 billion). “We are delighted to partner with Nestle,” said Hsu Chen, chairman and c.e.o. for Hsu Fu Chi. “Their offer is recognition of the strength and quality of our company and a very attractive proposition for our shareholders. Together with Nestle, we will accelerate the development of the Hsu Fu Chi brand, its production and distribution capabilities and ensure Hsu Fu Chi’s continued growth momentum and brand legacy for the future.” The transaction is still subject to regulatory approval in China. FBN affordable price points, its efficient operations and entrepreneurship with our proven innovation and renovation capabilities, supported by our R.&D. centers in China. It also demonstrates our long-term commitment to China and enhances our ability to grow our portfolio of international and local July 19, 2011 FOODBUSINESS NEWS ® 13

Table of Contents for the Digital Edition of Food Business News - July 19, 2011

Food Business News - July 19, 2011
U.S. rice production situation changes dramatically
Marketing standards for children’s products proposed
Campbell to invest less in sodium reduction
Editorial - Data transparency hugely important for markets
Dannon to invest $88 million in Ohio yogurt plant
Pfi zer may sell Nutrition business
Nestle Health Science acquires stake in Vital Foods
Hispanic consumers seek authentic menu options
Kraft names Timothy Cofer to European leadership
Gary Lane named c.e.o. of Ottens Flavors
Nestle to buy 60% interest in Chinese confectioner
Sun Capital acquires Contessa Premium Foods
Reser’s Fine Foods to acquire Vaughan Foods
Campbell to invest less in sodium reduction
Hamburger consumption on the rise
Dunkin’ looks to raise $461 million through i.p.o.
Buckhead Beef to build new facility
Global industrial processing of grains in slower growth
Higher adult obesity rates recorded in 16 states
More than 2,000 organizations in support of MyPlate
U.S. rice production situation changes dramatically
Washington - Agreement ends cross-border trucking dispute
Sodium Reduction - Conflicting views on sodium and mortality
Potassium chloride comes with taste issues
Children’s Nutrition - Questions arise about children and food allergies
DAIRY BUSINESS NEWS - Dairy ingredient innovations
DAIRY BUSINESS NEWS - Fonterra names chief executive officer
Dairy Business News - New OptiSol ingredient works with frozen yogurt
Dairy Business News - New Danisco system targets artisan ice cream
Dairy Business News - Regional ice cream maker ceases production
Dairy Business News - Dairy organizations team to form consortium
Dairy Business News - Harris sees consumers continue to focus on value, spending cuts
Dairy Business News - General Mills completes Yoplait acquisition
Dairy Business News - Shadow Beverages acquires Whey-Up brand
Dairy Business News - Dean Foods settles lawsuit for $140 million
Dairy Business News - Sargento Foods expands R.&D. staffi ng
New Product Trends - Beyond meat protein
New Food Products - Zatarain’s introduces frozen meals
New Food Products - Bear Naked launches Nut Cluster Crunch cereal
New Food Products - Kraft adds caulifl ower to new mac and cheese item
New Food Products - AdvancePierre Foods adds Graham Snackers
New Food Products - WhiteWave foods expands product line
New Food Products - Mott’s enters vegetable juice category
New Food Products - Orgain introduces shakes for children
New Food Products - Field Roast launches vegetarian frankfurter
INGREDIENT MARKET TRENDS - Spring wheat crop forecast 11% lower than 2010
Ingredient Markets
Supplier Innovations and News - Caravan launches base for single-serve items
Supplier Innovations and News - B vitamin supplier changes name to Prinova
Supplier Innovations and News -Testing method screens for Salmonella
Supplier Innovations and News - Cargill commits to 2015 sustainable palm oil goal
Supplier Innovations and News - European Commission approves stevia’s use in some foods
Supplier Innovations and News - Kemin hires technical sales manager
Supplier Innovations and News - Bell expands by buying facility
Ad Index
Food Business in the News

Food Business News - July 19, 2011