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Carl Weaver

Ferrero drops out of Cadbury race

Amplify’d from www.independent.co.uk

Italian confectioner Ferrero ruled itself out of the Cadbury takeover race today after last week’s recommended £11.9 billion bid from US food giant Kraft.

Ferrero - famed for its Rocher chocolates and advertisements - had been weighing up its options over the Dairy Milk maker since November amid rumours of a joint approach with US rival Hershey.

But Hershey formally withdrew from the race on Friday, clearing the way for Kraft’s takeover.

Read more at www.independent.co.uk
 

What Landing Cadbury Would Mean for Kraft, Ferrero, Hershey

Amplify’d from www.getfoodnews.com
Cadbury is the chess piece that could determine who leads the world’s confectionery market, depending on whose hands the company ends up in.

If it lands in the portfolio of Kraft, that marketer would topple Mars from its perch as the globe’s leading confectioner, a status Mars assumed after winning control of Wrigley last year. But now, Ferrero has confirmed an interest in acquiring Cadbury, and The Wall Street Journal reported that it is considering a linkup with Hershey to do the job. That trio would dwarf Mars even more than a Kraft/Cadbury combo. According to Euromonitor, Mars had 14.5% of the $167 billion confectionary market in 2008 and Kraft/Cadbury would eclipse that with a combined 15% share. A Cadbury/Ferrero/Hershey matchup, however, would trump them all, yielding a player with 19.3% of the world’s confectionery market, Euromonitor figures show.

Read more at www.getfoodnews.com
 

Analysts Weigh Possible Cadbury Deals

Interesting facets to the possible deal with Ferrero and Hershey.

Amplify’d from www.candyandsnacktoday.com
Speculation continues in the global financial and confectionery markets with analysts offering compelling reasons for The Hershey Co. and Ferrero SpA to mount a joint bid for Cadbury plc.

While many claim the combination makes strategic and geographical sense, Candy & Snack TODAY sources also say the distinct ownership structure of both Hershey and Ferrero could present challenges to such a union.

With $5.1 billion in annual sales, Hershey is controlled by a trust, with a charter that mandates it maintain a majority stake in the company’s stock. Analysts suggest a Cadbury bid might require adopting a new charter that could significantly reduce The Hershey Trust’s control of the iconic U.S. company.

A deal with Cadbury, analysts offer, could bolster Hershey’s sales outside the U.S. and afford it access to faster-growing gum and candy markets such as in India and China.

Read more at www.candyandsnacktoday.com
 

Hershey/Ferrero Rumor Spikes Cadbury Shares

Amplify’d from www.candyandsnacktoday.com
Financial markets are abuzz with speculation about a possible three-way, global confectionery melding of The Hershey Co., Ferrero SpA and Cadbury plc.

Wednesday’s Wall Street Journal claimed Hershey was “plotting” a Cadbury bid “with or without a partner,” and CEO David West “has spoken with Ferrero bankers at least twice in the last two weeks.”

While Hershey already owns the license to produce Cadbury chocolate in the U.S., market analysts suggest it stands to gain through Cadbury’s gum brands while Ferrero — well-established in Europe — could also profit from increased global exposure.

Still, news of the talks spiked Cadbury shares to their highest level in nearly a month, rising 1.3 percent and trading at about 10 percent higher than Kraft’s offer, which valued Cadbury shares at around $12.

Cadbury’s strong presence in the emerging markets of India and China is said to be one of the major aspects of its appeal.

Read more at www.candyandsnacktoday.com
 

Bidding war for Cadbury looms

Amplify’d from www.independent.co.uk

A bidding war for Dairy Milk maker Cadbury was in prospect today after confectioners Hershey and Ferrero said they were considering their options over the firm.

Hershey said there was “no assurance” over a definite offer, but has been linked with a joint bid in tandem with Italian confectioner Ferrero.

Ferrero also confirmed it was “in the preliminary stages of evaluating its options in respect of Cadbury”.

A possible counter bid would be a blow to Oreos and Toblerone maker Kraft, which went hostile with a �9.8bn offer for Cadbury last week.

Hershey already has a business relationship with Cadbury, holding a licence to make Dairy Milk bars and Cadbury Creme Eggs in the US.

Read more at www.independent.co.uk