Australian retail food brand manager and franchisor Retail Food Group today announced that an agreement to acquire the Big Dad’s Pies franchise system. Big Dad’s Pies brings to four the number of acquisition transactions announced by the ASX-listed firm in the past month. “The Big Dad’s Pies franchise system comprises 37 South East Queensland based outlets renowned for their specialty pies produced fresh daily,” Retail Food Group CEO Tony Alford said. “The menu... ...Read more »

Food and beverage giant PepsiCo has reduced the top end of its revenue and profit forecasts as it invests more money into business improvements “that will support improved growth and profitability in 2010 and beyond”. “For example,” the company said, “PepsiCo is making infrastructure investments in developing markets, such as China, to drive increased penetration and distribution of both carbonated and non-carbonated beverages. It has also increased investments in differentiated... ...Read more »

Sara Lee has reported stronger than forecast first quarter profit growth, leading them to revise up their full-year guidance. Profit growth of over ten per cent was reaped in spite of a 7.4% sales decline that resulted from currency headwinds, volume declines and divestitures. Their international beverage division reported profit down 13%, while their international bakery division partially overcame lower volumes and currency headwinds with “strength in the refrigerated dough business in France... ...Read more »

The world’s largest cereal maker, Kellogg Company, has reported a year-on-year 6% surge in earnings for the third quarter but sales were down slightly due to the impact of foreign currency translation. “The current economic environment has placed significant pressure on our consumers,” David Mackay, Kellogg Company CEO, said. “However, the environment also provided us with both the incentive and the opportunity to build an even stronger company for the future. We are aggressively... ...Read more »

Kellogg Company has posted double-digit growth in second quarter, surpassing expectations of analysts as private label growth begins to slow. David Mackay, Kellogg’s Chief Executive Officer, said the cereal manufacturer had so far managed to efficiently negotiate challenging conditions and ongoing cost pressures. “We remain committed to delivering sustainable and dependable performance as we work through the current tough economic environment,” he said. “This focus continued... ...Read more »

Michael Luscombe, CEO of retailer Woolworths, today told the American Chamber of Commerce in Australia of his bullish outlook for his company and the Australian economy. Woolworths, which announced an expansion of their Thomas Dux business yesterday, have maintained guidance for high single digit sales growth in the current financial year as their supermarkets get a boost from the downturn. “We haven’t taken the opportunity to change our guidance because we don’t have to,”... ...Read more »

Woolworths, Australia’s largest supermarket operator, is not expecting to lower their guidance despite economic headwinds, as they remain positive after reporting a record first-half. “One of the things we did when this first erupted, we determined a couple of things. Number one, let’s not change our targets, so our guidance has been the same even though we set those back in March last year for ourselves, we haven’t changed them,” Woolworths CEO, Michael Luscombe,... ...Read more »