Milling & Baking News - January 12, 2021 - 28

Stock Market Review

36% to finish the year at 136.3p, down
from 213.5p, and Sainsbury, PLC closed
the year at 225.5p, down 2% from 229.9p
in 2019.
In Ireland, Greencore Group PLC, a
European maker of convenience food
and malt products, finished at 116.5p
down 57% from 267.9p in 2019. In July,
Greencore sold its interests in its molasses
trading businesses to United Molasses
Marketing (Ireland) Ltd. and United
Molasses Marketing Ltd.
Kerry Group finished the year at €118.5,
up 7% from €111.1 in 2019 and compared
with €86.5 in 2018. In a move that would
allow the company to expand its core
food ingredient business, Kerry Group
PLC in mid-December was said to be exploring the possible sale or spinoff of its
consumer foods business, according to
Bloomberg. The company's Kerry Foods
division sells refrigerated meat and dairy
products with brands that include Richmond sausages, Dairygold spreads, Charleville cheese and Cheestrings snacks. The
company also makes Rollover hot dogs
and Naked Glory meat substitutes. Earlier in the year, Kerry expanded its clean
label food protection capabilities with the
acquisition of IsoAge Technologies and Biosecur Lab Inc. IsoAge is a Georgia-based
supplier of functional ingredients, including MOstatin All-Natural Antimicrobials
and INNOstatin All-Natural Flavorings.
The company also offers vinegar-based
flavor systems, fruit and vegetable juices
and purees, organic sweeteners, green tea
extracts, decorticated flours and hydrocolloid gums. Quebec-based BioSecur Lab offers a range of citrus-based functional ingredients for food and beverage products.
Origin Enterprises, a food and agribusiness group based in Dublin, finished the
year at €3.1, down 16% from €3.71 in 2019.
In Australia, GrainCorp Ltd. closed the
year at A$4.19, down 45% from A$7.58
in 2019. In September, GrainCorp named
Ian Morrison as chief financial officer. Mr.
Morrison joined GrainCorp in 2011 and
has held senior finance roles across all
areas of the company, including CFO of
the Grains division. His experience at the
company includes commercial finance,
IT, mergers and acquisitions, capital management, and shared services.
Nutrien Ltd., which was formed in
January 2018 as a merger of Agrium Inc.
and PotashCorp., closed 2020 at C$61.24,
down 1% from C$62.17 in 2019.
In France, Groupe Danone SA, the
country's largest food and beverage company, closed 2020 at €53.76, down 27%
28 / January 12, 2021

Milling & Baking News

from €73.9 in 2019. In November, Danone
said it is undergoing significant changes.
Management has shifted the company's
focus from global to local, committed to
reducing costs by $1.9 billion by 2023 and
is in the process of redesigning its approach to procurement, innovation and
manufacturing. The latter efforts will
have a lasting impact that will permeate
throughout the organization. Henri Bruxelles, chief operating officer of end-to-end
design to delivery for Danone, said the
company plans to eliminate more than
2,000 stock-keeping units in 2021.
In London, Unilever, the food and personal products business, closed 2020 at
€60.36, up 6% from €57.17 in 2019.
Ahold, the Dutch company with global
food retailing and foodservice operations, finished the year at €23.1, up 4%
from €22.3 in 2019, while DSM, the Dutch
chemical company with food ingredient
interests, increased 21% to €140.8 from
€116.1 in 2019.
Corbion finished higher in 2020, rising
64% to €46.15 from €28.12 in 2019.
In Switzerland, Nestle SA, the world's
largest food company, closed at 104.26
Swiss francs, virtually unchanged from
104.78 Swiss francs at the end of 2019.
In June, Nestle sold its North American
Buitoni pasta business to Brynwood Partners VIII LP. The transaction includes the
rights to the Buitoni brand in the United
States, Canada and the Caribbean territories. Earlier in the year, Nestle launched
Life Cuisine, a new brand designed to
" feed modern lifestyles, " the company
said. The lineup includes frozen bowls,
egg bites and pizzas that cater to four
consumer preferences: high-protein, lowcarb, meatless and gluten-free.
Aryzta AG closed 2019 at 0.68 Swiss
francs, down 37% from 1.082 Swiss francs in
2019 and compared with 38.65 Swiss francs
in 2017. It was a rough year for Aryzta, as
the company turned over management
and battled shareholders over the best
course of action to get the company back
on track. In December, Aryzta announced
it would focus on Europe and Asia-Pacific
markets and dispose of businesses in both
North America and Latin America. One
business the company parted with was
the North America take-and-bake pizza
business, which was sold to Great Kitchens
Food Company, Inc., a newly-formed
portfolio company of Greenwich, Conn.based private equity firm Brynwood
Partners VIII LP.
Share price movement in Japan was
weaker during 2020. Nisshin Seifun, the

Japanese holding company that includes
Nisshin Milling, Japan's largest flour
miller, closed at Y1641, down 14% from
Y1906 in 2019. The company's share price
had hit a high of Y1977 in mid-February
before falling back in mid-March when
COVID-19 emerged.
Nippon Flour Mills Co. Ltd. decreased
5% for the year, falling to Y1611 from
Y1690, but Nissin Foods Holdings, a
leading manufacturer of instant noodles,
increased 9% to Y8840 from Y8120.
Baking leaders Yamazaki Baking and
First Baking Co. Ltd. were mixed in
2020. Yamazaki closed at Y1724, down
12% from Y1949 in 2019. First Baking,
meanwhile, finished at Y987, up 2% from
Y967 in 2019.
Olam International, which supplies
food and industrial raw materials,
finished at 1.53 Singapore dollars, down
15% from 1.81 Singapore dollars in 2019.
Wilmar International increased 13%
to 4.65 Singapore dollars from 4.12
Singapore dollars in 2019.
Indonesia's Indofood, one of the largest
food producers in Asia, decreased 14% to
R6850 from R7925 in 2019.
South Africa-based Tiger Brands Ltd.
fell in 2020, finishing at R20818, down 1%
from R21071 in 2019.
Egyptian companies engaged in flour
milling were mixed in 2020, led by a 29%
increase at South Cairo and Giza Flour
Mills. Other increases included North
Cairo Flour, up 18%; and Alexandria
Flour Mills and Bakeries Co., up 17%.
Declines were noted at Middle and West
Delta Flour Co., down 27%; Egyptian
Starch, down 20%; East Delta Flour Co.,
down 20%; Upper Egypt Flour, down
16%; and Middle Egypt Flour, down 9%.
In Africa, Flour Mills of Nigeria
PLC increased 32% after decreasing
15% in 2019. Flour Mills Nigeria is
primarily involved in flour milling, pasta
production and cements production.
In Spain, Ebro Foods shares fell 2%
to €18.94 from €19.29 in 2019. Riviana
Foods, a business unit of Ebro Foods, in
December completed the sale of several
regional pasta brands to Oak Brook, Ill.based TreeHouse Foods for $242.5 million. The acquisition included the following regional pasta brands: Skinner, No
Yolks, American Beauty, Creamette, San
Giorgio, Prince and Light 'n Fluffy, Mrs.
Weiss', New Mill, P&R Procino-Rossi and
Wacky Mac, as well as a manufacturing
plant in St. Louis that employs approximately 90. MBN
- Eric Schroeder
bakingbusiness.com / world-grain.com


http://www.bakingbusiness.com http://www.world-grain.com

Milling & Baking News - January 12, 2021

Table of Contents for the Digital Edition of Milling & Baking News - January 12, 2021

Milling & Baking News - January 12, 2021 - 1
Milling & Baking News - January 12, 2021 - 1
Milling & Baking News - January 12, 2021 - 2
Milling & Baking News - January 12, 2021 - 3
Milling & Baking News - January 12, 2021 - 4
Milling & Baking News - January 12, 2021 - 5
Milling & Baking News - January 12, 2021 - 6
Milling & Baking News - January 12, 2021 - 7
Milling & Baking News - January 12, 2021 - 8
Milling & Baking News - January 12, 2021 - 9
Milling & Baking News - January 12, 2021 - 10
Milling & Baking News - January 12, 2021 - 11
Milling & Baking News - January 12, 2021 - 12
Milling & Baking News - January 12, 2021 - 13
Milling & Baking News - January 12, 2021 - 14
Milling & Baking News - January 12, 2021 - 15
Milling & Baking News - January 12, 2021 - 16
Milling & Baking News - January 12, 2021 - 17
Milling & Baking News - January 12, 2021 - 18
Milling & Baking News - January 12, 2021 - 19
Milling & Baking News - January 12, 2021 - 20
Milling & Baking News - January 12, 2021 - 21
Milling & Baking News - January 12, 2021 - 22
Milling & Baking News - January 12, 2021 - 23
Milling & Baking News - January 12, 2021 - 24
Milling & Baking News - January 12, 2021 - 25
Milling & Baking News - January 12, 2021 - 26
Milling & Baking News - January 12, 2021 - 27
Milling & Baking News - January 12, 2021 - 28
Milling & Baking News - January 12, 2021 - 29
Milling & Baking News - January 12, 2021 - 30
Milling & Baking News - January 12, 2021 - 31
Milling & Baking News - January 12, 2021 - 32
Milling & Baking News - January 12, 2021 - 33
Milling & Baking News - January 12, 2021 - 34
Milling & Baking News - January 12, 2021 - 35
Milling & Baking News - January 12, 2021 - 36
Milling & Baking News - January 12, 2021 - 37
Milling & Baking News - January 12, 2021 - 38
Milling & Baking News - January 12, 2021 - 39
Milling & Baking News - January 12, 2021 - 40
Milling & Baking News - January 12, 2021 - 41
Milling & Baking News - January 12, 2021 - 42
Milling & Baking News - January 12, 2021 - 43
Milling & Baking News - January 12, 2021 - 44
Milling & Baking News - January 12, 2021 - 45
Milling & Baking News - January 12, 2021 - 46
Milling & Baking News - January 12, 2021 - 47
Milling & Baking News - January 12, 2021 - 48
Milling & Baking News - January 12, 2021 - 49
Milling & Baking News - January 12, 2021 - 50
Milling & Baking News - January 12, 2021 - 51
Milling & Baking News - January 12, 2021 - 52
Milling & Baking News - January 12, 2021 - 53
Milling & Baking News - January 12, 2021 - 54
Milling & Baking News - January 12, 2021 - 55
Milling & Baking News - January 12, 2021 - 56
https://www.nxtbook.com/sosland/mbn/2021_01_26
https://www.nxtbook.com/sosland/mbn/2021_01_12
https://www.nxtbook.com/sosland/mbn/2020_12_29
https://www.nxtbook.com/sosland/mbn/2020_12_15
https://www.nxtbook.com/sosland/mbn/2020_12_01
https://www.nxtbook.com/sosland/mbn/2020_11_17
https://www.nxtbook.com/sosland/mbn/2020_11_03
https://www.nxtbook.com/sosland/mbn/2020_10_20
https://www.nxtbook.com/sosland/mbn/2020_10_06
https://www.nxtbook.com/sosland/mbn/2020_09_22
https://www.nxtbook.com/sosland/mbn/2020_09_08
https://www.nxtbook.com/sosland/mbn/2020_08_25
https://www.nxtbook.com/sosland/mbn/2020_08_11
https://www.nxtbook.com/sosland/mbn/2020_07_28
https://www.nxtbook.com/sosland/mbn/2020_07_14
https://www.nxtbook.com/sosland/mbn/2020_06_30
https://www.nxtbook.com/sosland/mbn/2020_06_16
https://www.nxtbook.com/sosland/mbn/2020_06_02
https://www.nxtbook.com/sosland/mbn/2020_05_19
https://www.nxtbook.com/sosland/mbn/2020_05_05
https://www.nxtbook.com/sosland/mbn/2020_04_21
https://www.nxtbook.com/sosland/mbn/2020_04_07
https://www.nxtbook.com/sosland/mbn/2020_03_24
https://www.nxtbook.com/sosland/mbn/2020_03_10
https://www.nxtbook.com/sosland/mbn/2020_02_25
https://www.nxtbook.com/sosland/mbn/2020_02_11
https://www.nxtbook.com/sosland/mbn/2020_01_28
https://www.nxtbook.com/sosland/mbn/2020_01_14
https://www.nxtbook.com/sosland/mbn/2019_12_31
https://www.nxtbook.com/sosland/mbn/2019_12_17
https://www.nxtbook.com/sosland/mbn/2019_12_03
https://www.nxtbook.com/sosland/mbn/2019_11_19
https://www.nxtbook.com/sosland/mbn/2019_11_05
https://www.nxtbook.com/sosland/mbn/2019_10_22
https://www.nxtbook.com/sosland/mbn/2019_10_08
https://www.nxtbook.com/sosland/mbn/2019_09_24
https://www.nxtbook.com/sosland/mbn/2019_09_10
https://www.nxtbook.com/sosland/mbn/2019_08_27
https://www.nxtbook.com/sosland/mbn/2019_08_13
https://www.nxtbook.com/sosland/mbn/2019_07_30
https://www.nxtbook.com/sosland/mbn/2019_07_16
https://www.nxtbook.com/sosland/mbn/2019_07_02
https://www.nxtbook.com/sosland/mbn/2019_06_18
https://www.nxtbook.com/sosland/mbn/2019_06_04
https://www.nxtbook.com/sosland/mbn/2019_05_21
https://www.nxtbook.com/sosland/mbn/2019_05_07
https://www.nxtbook.com/sosland/mbn/2019_04_23
https://www.nxtbook.com/sosland/mbn/2019_04_09
https://www.nxtbook.com/sosland/mbn/2019_03_26
http://digitalmbn.bakingbusiness.com/sosland/mbn/2019_03_12
http://digitalmbn.bakingbusiness.com/sosland/mbn/2019_02_26
http://digitalmbn.bakingbusiness.com/sosland/mbn/2019_02_12
http://digitalmbn.bakingbusiness.com/sosland/mbn/2019_01_29
http://digitalmbn.bakingbusiness.com/sosland/mbn/2019_01_15
http://digitalmbn.bakingbusiness.com/sosland/mbn/2019_01_01
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_12_18
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_12_04
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_11_20
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_11_06
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_10_23
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_10_09
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_09_25
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_09_11
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_08_24
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_08_14
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_07_31
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_07_17
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_07_03
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_06_19
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_06_05
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_05_22
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_05_08
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_04_24
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_04_10
http://digitalmbn.bakingbusiness.com/sosland/mbn/2018_03_27
https://www.nxtbook.com/sosland/mbn/2018_03_13
https://www.nxtbook.com/sosland/mbn/2018_02_27
https://www.nxtbook.com/sosland/mbn/2018_02_13
https://www.nxtbook.com/sosland/mbn/2018_01_30
https://www.nxtbook.com/sosland/mbn/2018_01_16
https://www.nxtbook.com/sosland/mbn/2018_01_02
https://www.nxtbook.com/sosland/mbn/2017_12_19
https://www.nxtbook.com/sosland/mbn/2017_12_05
https://www.nxtbook.com/sosland/mbn/2017_11_21
https://www.nxtbook.com/sosland/mbn/2017_11_07
https://www.nxtbook.com/sosland/mbn/2017_10_24
https://www.nxtbook.com/sosland/mbn/2017_10_10
https://www.nxtbook.com/sosland/mbn/2017_09_26
https://www.nxtbook.com/sosland/mbn/2017_09_12
https://www.nxtbook.com/sosland/mbn/2017_08_29
https://www.nxtbook.com/sosland/mbn/2017_08_15
https://www.nxtbook.com/sosland/mbn/2017_08_01
https://www.nxtbook.com/sosland/mbn/2017_07_18
https://www.nxtbook.com/sosland/mbn/2017_07_04
https://www.nxtbook.com/sosland/mbn/2017_06_20
https://www.nxtbook.com/sosland/mbn/2017_06_06
https://www.nxtbook.com/sosland/mbn/2017_05_23
https://www.nxtbook.com/sosland/mbn/2017_05_09
https://www.nxtbook.com/sosland/mbn/2017_04_25
https://www.nxtbook.com/sosland/mbn/2017_04_11
https://www.nxtbook.com/sosland/mbn/2017_03_28
https://www.nxtbook.com/sosland/mbn/2017_03_14
https://www.nxtbook.com/sosland/mbn/2017_02_28
https://www.nxtbook.com/sosland/mbn/2017_02_14
https://www.nxtbook.com/sosland/mbn/2017_01_31
https://www.nxtbook.com/sosland/mbn/2017_01_17
https://www.nxtbook.com/sosland/mbn/2017_01_03
https://www.nxtbook.com/sosland/mbn/2016_12_20
https://www.nxtbook.com/sosland/mbn/2016_12_06
https://www.nxtbook.com/sosland/mbn/2016_11_22
https://www.nxtbook.com/sosland/mbn/2016_11_08
https://www.nxtbook.com/sosland/mbn/2016_10_25
https://www.nxtbook.com/sosland/mbn/2016_10_11
https://www.nxtbook.com/sosland/mbn/2016_09_27
https://www.nxtbook.com/sosland/mbn/2016_09_13
https://www.nxtbook.com/sosland/mbn/2016_08_30
https://www.nxtbook.com/sosland/mbn/2016_08_16
https://www.nxtbook.com/sosland/mbn/2016_08_02
https://www.nxtbook.com/sosland/mbn/2016_07_19
https://www.nxtbook.com/sosland/mbn/2016_07_05
https://www.nxtbook.com/sosland/mbn/2016_06_21
https://www.nxtbook.com/sosland/mbn/2016_06_07
https://www.nxtbook.com/sosland/mbn/2016_05_24
https://www.nxtbook.com/sosland/mbn/2016_05_10
https://www.nxtbook.com/sosland/mbn/2016_04_26
https://www.nxtbook.com/sosland/mbn/2016_04_12
https://www.nxtbook.com/sosland/mbn/2016_03_29
https://www.nxtbook.com/sosland/mbn/2016_03_15
https://www.nxtbook.com/sosland/mbn/2016_03_01
https://www.nxtbook.com/sosland/mbn/2016_02_16
https://www.nxtbook.com/sosland/mbn/2016_02_02
https://www.nxtbook.com/sosland/mbn/2016_01_19
https://www.nxtbook.com/sosland/mbn/2016_01_05
https://www.nxtbook.com/sosland/mbn/2015_12_22
https://www.nxtbook.com/sosland/mbn/2015_12_08
https://www.nxtbook.com/sosland/mbn/2015_11_24
https://www.nxtbook.com/sosland/mbn/2015_11_10
https://www.nxtbook.com/sosland/mbn/2015_10_27
https://www.nxtbook.com/sosland/mbn/2015_10_13
https://www.nxtbook.com/sosland/mbn/2015_09_29
https://www.nxtbook.com/sosland/mbn/2015_09_15
https://www.nxtbook.com/sosland/mbn/2015_09_01
https://www.nxtbook.com/sosland/mbn/2015_08_18
https://www.nxtbook.com/sosland/mbn/2015_08_04
https://www.nxtbook.com/sosland/mbn/2015_07_21
https://www.nxtbook.com/sosland/mbn/2015_07_07
https://www.nxtbook.com/sosland/mbn/2015_06_23
https://www.nxtbook.com/sosland/mbn/2015_06_09
https://www.nxtbook.com/sosland/mbn/2015_05_26
https://www.nxtbook.com/sosland/mbn/2015_05_12
https://www.nxtbook.com/sosland/mbn/2015_04_28
https://www.nxtbook.com/sosland/mbn/2015_04_014
https://www.nxtbook.com/sosland/mbn/2015_03_31
https://www.nxtbook.com/sosland/mbn/2015_03_17
https://www.nxtbook.com/sosland/mbn/mbn/2015_03__03
https://www.nxtbook.com/sosland/mbn/2015_02_17
https://www.nxtbook.com/sosland/mbn/2015_02_03
https://www.nxtbook.com/sosland/mbn/2015_01_20
https://www.nxtbook.com/sosland/mbn/2015_01_06
https://www.nxtbook.com/sosland/mbn/2014_12_23
https://www.nxtbook.com/sosland/mbn/2014_12_09
https://www.nxtbook.com/sosland/mbn/mbn_2014_11_25
https://www.nxtbook.com/sosland/mbn/2014_11_11
https://www.nxtbook.com/sosland/mbn/2014_10_28
https://www.nxtbook.com/sosland/mbn/2014_10_14
https://www.nxtbook.com/sosland/mbn/2014_09_30
https://www.nxtbook.com/sosland/mbn/2014_09_16
https://www.nxtbook.com/sosland/mbn/2014_09_02
https://www.nxtbook.com/sosland/mbn/214_08_19
https://www.nxtbook.com/sosland/mbn/2014_08_01
https://www.nxtbook.com/sosland/mbn/2014_07_22
https://www.nxtbook.com/sosland/mbn/2014_07_08
https://www.nxtbook.com/sosland/mbn/2014_06_24
https://www.nxtbook.com/sosland/mbn/2014_06_10
https://www.nxtbook.com/sosland/mbn/2014_05_27
https://www.nxtbook.com/sosland/mbn/2014_05_13
https://www.nxtbook.com/sosland/mbn/2014_04_29
https://www.nxtbook.com/sosland/mbn/2014_04_15
https://www.nxtbook.com/sosland/mbn/2014_04_01
https://www.nxtbook.com/sosland/mbn/2014_03_18
https://www.nxtbook.com/sosland/mbn/2014_03_04
https://www.nxtbook.com/sosland/mbn/2014_02_18
https://www.nxtbook.com/sosland/mbn/2014_02_04
https://www.nxtbook.com/sosland/mbn/2014_01_21
https://www.nxtbook.com/sosland/mbn/2014_01_07
https://www.nxtbook.com/sosland/mbn/2013_12_24
https://www.nxtbook.com/sosland/mbn/2013_12_10
https://www.nxtbook.com/sosland/mbn/2013_11_26
https://www.nxtbook.com/sosland/mbn/2013_11_12
https://www.nxtbook.com/sosland/mbn/2013_10_29
https://www.nxtbook.com/sosland/mbn/2013_10_15
https://www.nxtbook.com/sosland/mbn/2013_10_01
https://www.nxtbook.com/sosland/mbn/2013_09_17
https://www.nxtbook.com/sosland/mbn/2013_09_03
https://www.nxtbook.com/sosland/mbn/2013_08_20
https://www.nxtbook.com/sosland/mbn/2013_08-06
https://www.nxtbook.com/sosland/mbn/2013_07_23
https://www.nxtbook.com/sosland/mbn/2013_07_09
https://www.nxtbook.com/sosland/mbn/2013_06_25
https://www.nxtbook.com/sosland/mbn/2013_06_11
https://www.nxtbook.com/sosland/mbn/2013_05_28
https://www.nxtbook.com/sosland/mbn/2013_05_14
https://www.nxtbook.com/sosland/mbn/2013_04_30
https://www.nxtbook.com/sosland/mbn/2013_04_16
https://www.nxtbook.com/sosland/mbn/2013_04_02
https://www.nxtbook.com/sosland/mbn/2013_03_19
https://www.nxtbook.com/sosland/mbn/2013_03_05
https://www.nxtbook.com/sosland/mbn/2013_02_19
https://www.nxtbook.com/sosland/mbn/2013_02_05
https://www.nxtbook.com/sosland/mbn/2013_01_22
https://www.nxtbook.com/sosland/mbn/2013_01_08
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