In a blog post published just minutes ago, Twitter has announced another snack-sized acquisition.
Campbell, whose most recent big deal was the multibillion-dollar acquisition of the snack maker Snyder's-Lance, announced a reorganization last month that gave control of key divisions — including soup, beverages and snacks — to Luca Mignini, the chief operating officer.
Snacks producer Diamond Foods said late yesterday its acquisition of Pringles chips from Procter & Gamble will be delayed until the first half of 2012.
Thus far, the new strategy has meant increased focus on U.S. cereal sales, the acquisition of Keebler (an American snack food company) and decreased emphasis on less profitable international markets.
Mighty appetiteNestlé took a bite of the American fast-food market with the acquisition of Chef America, a frozen-snack maker, for $2.6 billion.
Though cereal volume fell, domestic noncereal volume grew 12percent, 88 percent excluding acquisitions, led by yogurt and snack convenience foods, the company said.
The topic of foreign takeover of UK snack companies is a thorny issue following the acquisition of UK chocolate maker Cadbury by the US cheese slice group Kraft in 2010.
Unilever has snapped up Graze, the healthy snacking brand, as it continues its "bolt-on" acquisition strategy focusing on fast-growing companies.
REUTERS Campbell May Find a Deal From Private Equity | Campbell Soup said it was planning acquisitions to expand its baking and snack division overseas, and with private equity firms having bought up snack companies in recent years, "some would be only too happy to sell to a large strategic acquirer like Campbell's," The Wall Street Journal's Private Equity Beat writes.
TechCrunch had provided lunch a couple times a week even before the AOL acquisition, but now there's, like, crazy snacks everywhere.
It was last year's $19 billion acquisition of candy maker Cadbury of Britain that gave Kraft's snack business sufficient scale to be a stand-alone company able to compete against the likes of Nestlé and PepsiCo.
