Milling & Baking News - January 7, 2014 - 23

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that makes and distributes cake mixes,
breakfast cereals, snacks and savory
biscuits, has agreed to sell its biscuit
division for approximately A$17
million ($15.1 million), including net
cash proceeds of approximately A$10
million. Goodman's biscuit business
comprises a range of sweet and savory
biscuits, including cookies, creamies
and fancies, plain and shortbreads,
chocolate and crackers. Major brands
include Paradise, Cottage, Vive and
Veri Deli. In divesting its biscuit
business, Goodman said it is following
through on its strategy to refocus its
marketing and capital expenditure on
its core categories and brands where
it has profitable, market leading
positions.
Agrium Inc., which acquired AWB
Ltd. in December 2010, closed 2013 at
$91.48, down 8% from $99.87 in 2012.
In France, Groupe Danone S.A., the
country's largest food and beverage
company, closed 2013 at €52.32, up 5%
from €49.91 in 2012. The company's
stock rose as high as €60.45 in early
August, shortly after it partnered
with Seattle-based Starbucks Coffee
Co. to develop a line of Greek yogurt
products that will be sold in Starbucks
stores and the grocery channel in
the United States, and, eventually,
globally. The product line, which
will be sold under the brand name
Evolution Fresh, Inspired by Dannon,
will be ready-to-eat parfait Greek
yogurt products. Starbucks will offer
the products in participating stores
in the spring of 2014, and Danone
will start distributing the products
to U.S. retailers in 2015. Starbucks
said a second phase of distribution is
planned to include targeted markets
around the world.
In The Netherlands, Unilever, the
Anglo-Dutch food and personal
products business, closed 2013 at
€29.28, up nearly 2% from €28.84 in
2012, and up 10% from €26.57 in 2011.
Selling its frozen meals business in the
fall of 2012 and its Skippy peanut butter
brand at the start of 2013 were part of
the reorganization of the makeup of
Unilever's foods business. Unilever
also completed the sale of its WishBone and Western dressings brands to
Pinnacle Foods, Inc. in October.
Ahold, the Dutch-based company
with global food retailing and food
service operations, finished the year
at €13.05, up 29% from €10.14 in
2012, while DSM, the Dutch chemical
company with food ingredient interests,
rose 25% for the year, closing at €57.16.
CSM finished lower in 2013,
bakingbusiness.com / world-grain.com

ending down 5% at €15.4. In June,
the company unveiled a new name
and strategy to mark the latest stage
of its ongoing transformation into a
provider of biobased products, with
activities focused in biobased food
ingredients and biochemicals. The
company's new name is Corbion.
"Our new name and logo signify
the next phase in the development of
our company," said Gerard Hoetmer,
chief executive officer. "We will
leverage our proprietary technologies
and intimate understanding of
customers and consumers to further
develop our market positions in
biobased products. In short, we create
value for our customers through
our biobased products, designed
by science, powered by nature and
delivered through our dedication.
This will in turn create value for our
shareholders."
In Switzerland, Nestle S.A., the
world's largest food company, closed
at 65.3 Swiss francs, up 10% from
59.6 Swiss francs in 2012. Changes
are under way for Nestle USA's pizza
division. In October, the company
announced it is moving the business
from Northbrook, Ill., to Solon, Ohio,
and John Carmichael, who is currently
deputy of Nestle Zone Americas for
Nestle S.A., was to take the helm as
president of the pizza business on
Jan. 1, 2014. Paul Bakus, the current
president of Nestle Pizza, has been
named president of corporate affairs.
Nestle also shed its Jenny Craig
weight management business in
North America and Oceania to North
Castle Partners L.L.C., a Greenwich,
Conn.-based private equity firm.
Aryzta A.G. closed 2013 at 68.40 Swiss
francs, up 46% from 46.85 Swiss francs
in 2012. In October, reports surfaced
that Arzyta AG had acquired Pita Pan
Old World Bakery, a Chicago Heights,
Ill.-based maker of flat breads and pizza
crust to restaurant chains and wholesale
bakery customers. Pita Pan has its
roots in a Greek restaurant established
in 1972 by brothers Andre and Kostas
Papantoniou. The eating establishment
became the launching pad for Olympia
Foods, which offers Greek meat, sauces
and baked foods, and for Pita Pan.
According to Pita Pan, the company's
100,000-square-foot baking facility has
the capacity to produce more than 1
million pieces per day.
Share price movement in Japan was
strong. Nisshin Seifun, the Japanese
holding company that includes
Nisshin Milling, Japan's largest flour
miller, closed at Y1087, up narrowly

Stock Market Review

from Y1078 in 2012. In its overseas
business, along with taking optimal
advantage of increased production
capacity at Miller Milling Company,
L.L.C. and Nisshin-STC Flour Milling
Co., Ltd., Nisshin said it's ramping up
efforts to expand business, including
making steady progress at Champion
Flour Milling Ltd.
Nippon Flour Mills Co. Ltd. rose
48% for the year, climbing to Y518 from
Y351, and Nissin Foods Holdings,
a leading manufacturer of instant
noodles, rose 36%, closing at Y4440.
Baking leaders Yamazaki Baking and
First Baking Co. Ltd. were significantly
stronger in 2013. Yamazaki closed at
Y1079, up 12% from 2012; First Baking,
meanwhile, finished at Y143, up 72%
from Y83 in 2012.
Indonesia's Indofood, one of the
largest food producers in Asia, rose
13% to R6600, up from R5850 in 2012.
In South Africa, Tiger Brands Ltd.
posted its first year-over-year decline
in five years, finishing at R26693,
down 18% from R32525. The decrease
followed gains of 30% in 2012, 35% in
2011, 14% in 2010 and 19% in 2009.
Egyptian companies engaged in
flour milling were stronger. Leading
the gains was Middle Egypt Flour,
which rose 137%, followed by
Alexandria Flour, up 53%; South
Cairo & Giza Flour Mills, up 46%;
Middle and West Delta Flour Co., up
35%; Upper Egypt Flour, up 18%; East
Delta Flour Co., up 17%; and North
Cairo Flour, up 15%. Egyptian Starch
decreased 19%.
Also in Africa, Flour Mills of
Nigeria P.L.C. rose 34% after falling
1% in 2012 and 3% in 2011. Flour Mills
Nigeria primarily is involved in flour
milling, pasta production and cements
production.
In Spain, Ebro Foods shares
increased 13% to €17.02 from €15. Ebro,
which is the parent of New World
Pasta Co., in November completed the
acquisition of Olivieri Foods, the fresh
pasta and sauce business of Torontobased Canada Bread Company, Ltd.,
following approval from the Canadian
Competition Bureau. Ebro agreed to
acquire Olivieri in late October for
C$120 million ($115 million). Olivieri
Foods manufactures flat and filled
fresh pasta products and sauces at
its facilities in Hamilton, Ont., and
Delta, B.C. The company had sales of
C$105.5 million last year.
In Chile, Quinenco closed the year
down 12%, while Molinos Rio Plata in
Argentina closed up 13% from its 2012
finish. MBN
Milling & Baking News January 7, 2014 / 23
http://www.bakingbusiness.com http://www.world-grain.com
Milling & Baking News - January 7, 2014

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