Most people probably don’t think Spam lunchmeat and Skippy peanut butter make a good pairing.
But Hormel Foods, maker of the canned curiosity, begs to differ. The Minnesota-based company on Thursday said it would acquire the Skippy peanut butter business from Unilever for $700m – the largest deal in the company’s history. Among the rationales for the move? China. Continue reading »
How do you say “burger wars” in Mandarin?
Because that is what China’s ever growing number of cash-rich, time-poor diners can expect to see after Burger King on Friday announced an ambitious plan to take on rival McDonald’s in one of the world’s fastest growing fast-food markets. Continue reading »
Cars, computers, now food. Until Bright Food bought the British cereal maker Weetabix last month, the “food and beverage” category had yet to join in the trend of Chinese consumer companies making western acquisitions.
But as the growth prospects in the food market go down, and the competition in the market intensifies, the cereal deal may mark a turning point for the Chinese food industry. Continue reading »
Not many people in the western world eat Chinese food for breakfast. Until now. On Wednesday Bright Food announced it had bought 60 per cent of Weetabix Foods, parent of the famous British breakfast cereal of the same name.
According to the company, this is the largest outgoing Chinese acquisition in the sector. Continue reading »
Just another week in the life of a Chinese housewife: first it was yogurt made from old shoes, then tea tainted with pesticides and now comes news that even the sacred xiaolongbao – small steamed dumplings, the signature dish of Shanghai – may be harbouring dangerous additives. Continue reading »