Food Business News - February 9, 2016 - (Page 20)

"Manildra is a family-owned company committed to being the leader in the wheat gluten industry. We have been growing for the last 40 years and are excited to share our future with you." Starbucks 'firing on all cylinders' in C.P.G. - Neal Bassi, President Manildra Group USA Continued from Page 1 the size, scale, and profitability of ours." For the first quarter ended Dec. 27, 2015, net earnings attributable to Starbucks equaled $687.6 million, or 46c per share on the common stock, down 30% from earnings of $983.1 million, or 65c per share, for the prior-year period. Excluding items affecting comparability, Starbucks said its earnings per share increased 15% year-over-year. Net revenues advanced 12% to a record $5,373.5 million from year-ago revenues of $4,803.2 million. Contributing to the strong results were an 8% increase in global comparable-store sales and a 9% bump in Americas comparable-store sales. Starbucks' channel development segment achieved record revenues of $512.1 million during the quarter, marking a year-over-year increase of 16%, and a 23% increase in operating income to $193.3 million. "In Q1, each of our U.S. at-home coffee segments significantly outpaced the overall category punctuated by strong in-store execution of our holiday program in the U.S.," said Michael Conway, president of Starbucks global channel development. "Already the leader in premium coffee, total Starbucks grew 16%, more than five times total category growth, moving Starbucks ah ahead of Kraft to become the No. 2 player in aall of coffee." Starbucks' North American partnership w with PepsiCo in ready-to-drink coffee beveraages also posted solid results, driven by new p product innovation in the Frappuccino and D Double Shot platforms and through expandeed distribution, Mr. Conway said. To support continued momentum, Starb bucks plans to launch coffee and tea latte KC Cups this year, even as it considers terminatin ing its partnership with Keurig Green Mounta tain in light of the latter company's private equity takeover announced in December. "Since Keurig announced it was selling itself, we have fielded many questions about our intentions following the sale," Mr. Schultz said. "I want to assure retailers, the millions of consumers who demand Starbucks branded coffees to their Keurig brewers, many of whom have told us that they actually purchased a Keurig brewer only after Starbucks coffee became available in the platform and at the market, that we are in the K-Cup business to stay. "However, at this moment, the only matter that remains unresolved is whether we will be doing so in conjunction with Keurig or on our own." He added: "Regardless of what we decide to do, there would be no dilution whatsoever in our current ability to deliver to the market or retain the margin that has been so attractive since we started. We are in a unique position. We have the leading share. We know customers buy the brewer because of Starbucks. And it's a wait-and-see situation. "But the most important thing is we are reaffirming to the market and our customers they will have an ongoing stream of K-Cups, and there will be no dilution whatsoever in terms of our ability to maintain supply regardless of who is making it." FBN Nestle in talks to acquire Israel's largest food company 800-323-8435 * 20 FOODBUSINESS NEWS ® VEVEY, SWITZERLAND - Nestle S.A. has agreed to buy out minority shareholders of Osem Investments Ltd., Israel's largest publicly-traded food company, for approximately $840 million. Under terms of the transaction, Nestle would acquire the 36.3% stake in Osem that it doesn't already own. Nestle has invested in Osem for more than 20 years and already owns 63.7% of the company. The transaction would mark Nestle's largest acquisition in the food industry since 2012, when the company acquired Pfizer Inc.'s infant-nutrition unit for $11.9 billion. "Nestle has a long history of investment in Osem, dating back to 1995, and looks forward to continue to partner with the Osem management to develop the company," Nestle said. Established in 1942, Osem produces and distributes a range of branded food products, including Fiber 1 and Nesquik cereals, Bamba and Popco snacks and Nestea. Osem said its board will consider the transaction at a shareholders meeting scheduled for March 17. FBN February 9, 2016

Table of Contents for the Digital Edition of Food Business News - February 9, 2016

Food Business News - February 9, 2016
Mondelez expects snack sales to slow
Starbucks ‘firing on all cylinders’ in C.P.G.
Beverage Business News - Boosting the nutrition profile of beverages
Table of Contents
Web Contents
Editorial - Trust and the rising bar for ‘achieving’ food safety
Survey finds natural labels may mislead consumers
‘The U.S. consumer has changed’
Take the lead in transparency
ChemChina to acquire Syngenta for $43 billion
A new venture for PepsiCo
Chipotle focusing on recovery, food safety
Coca-Cola takes stake in Nigerian business
SuperValu picks new president, c.e.o.
Madagascar 2 - Vanilla prices soar again
Nestle in talks to acquire Israel’s largest food company
Global challenges weigh on Hershey’s earnings
Court sides with Dannon, General Mills in yogurt case
Market Insight - Beef is bouncing back
Ingredient Trends - Plant protein applications evolving
Ingredient Innovations - Three considerations when choosing emulsifiers
Emulsion innovation extends beverage stability
New Food Products
Ingredient Market Trends - Ethanol fuels fireworks in the Iowa Republican caucus
Ingredient Markets
Supplier Innovations and News
Ad Index

Food Business News - February 9, 2016