Ferrero to acquire biscuit & snack businesses of Kellogg

अमेरिकी नाश्ता की दिग्गज कंपनी केलॉग, भारत की प्रमुख स्नैक्स निर्माता हल्दीराम में निवेस करने की योजना बना रही है। दरअसल वह बाजार में आने के लगभग 25 साल बाद अपने स्थानीय पोर्टफोलियो में विविधता लाना चाहती है। केलॉग दुनिया की दूसरी सबसे बड़ी स्नैक्स फूड कंपनी है।

अग्रवाल परिवार ने 1990 के दशक में व्यवसाय को भोगौलिक रूप से आपस में विभाजित किया जिसके बाद, हल्दीराम ने दिल्ली, नागपुर और कोलकाता के तीन केंद्रों से संचालन किया।

चल रही बातचीत में हल्दीराम की तीन शाखाओं में से दो शामिल हैं जिनमें दिल्ली स्थित हल्दीराम एथनिक खाद्य पदार्थ और इसके सहयोगी और नागपुर के हल्दीराम फूड इंटरनेशनल और सहयोगी शामिल हैं।

केलॉग इंडिया के एक प्रवक्ता ने कहा, 'हमारी नीति के अनुसार, हम संभावित अधिग्रहण JV या अनावरण के बारे में अफवाहों या अटकलों पर टिप्पणी नहीं करते हैं।'

जबकि मिशिगन स्थित केलॉग के जो भागों में 51 प्रतिशत हिस्सेदारी के लिए दबाव डालने के लिए माना जाता है। अग्रवाल परिवार नियंत्रण को कम करने और 25 प्रतिशत विलयन को प्राथमिकता देता है।

Kellogg, an American breakfast cereal giant, is eyeing a stake in Haldiram’s, India’s leading snack maker, as it seeks to diversify its local portfolio nearly 25 years after foraying into the market. Kellogg is the world’s second-largest snack foods company.

After the Agarwal family split the business geographically among themselves in the 1990s, Haldiram’s operates out of three hubs of Delhi, Nagpur and Kolkata.

The ongoing talks involve two of the three branches of Haldiram’s, including Delhi-based Haldiram Ethnic Foods and its affiliates, and Nagpur-based Haldiram’s Food International and affiliates, catering to the western and southern markets.

A spokesperson for Kellogg India said, "As per our policy, we don’t comment on rumors or speculation regarding potential acquisitions, JVs or divestitures."

While Michigan-based Kellogg is believed to be pressing for a 51% stake in the two divisions, the Agarwal family is not keen to cede control and prefers a 25% dilution. 

Kelloggs, Sony, Coca-Cola Enterprises and a group of other companies have committed to targets certified by independent assessors to cut their carbon emissions, reported Reuters.

The initiative came as negotiators gathered in Paris try to reach an accord on reducing greenhouse gas emissions and is intended to go beyond the often vague promises of corporate action on the issue.

UN Global Compact, a voluntary UN scheme and non-governmental organisations including the US-based World Resources Institute (WRI) have been attempting to persuade business to set carbon goals since the Kyoto Protocol in 1997.

The WRI and its partner organisations said more than 100 companies had committed within the next two years to set targets, assessed on the basis of UN standards as a meaningful contribution to warding off a global average temperature rise of more than 2 degrees Celsius, viewed as a threshold for potentially catastrophic climate change.

Coca-Cola Enterprises, Dell, Enel, General Mills, Kellogg, NRG Energy, Procter and Gamble, Sony and Thalys have already had goals approved equating to nearly 2 billion barrels of oil not burned over the lifetime of their targets.

Kelloggs, which like other food companies is sensitive to extreme weather that inflates the cost of ingredients and makes them scarce, committed to a 15 per cent reduction in emissions intensity per tonne of food produced by 2020 versus 2015, the joint statement said.

“It’s a core business issue in terms of; can we have enough access to foods over time?” said Diana Holdorf, chief sustainability officer at Kelloggs. “Security of supply is critical to our business.”

Other corporate climate commitments linked to the Paris conference included Unilever, Nestle, Procter and Gamble and others saying last month they had signed up to emissions targets.

Aiming to serve its breakfast and snack food offerings in West Africa, Kellogg’s company is setting up a joint venture with the African arm of Singapore's Tolaram Group.

Announcing a new, long-term partnership with the food giant Tolaram Africa, Kellogg's is aiming to multiply its presence in the growing African market and advancing the company's breakfast, snacks and emerging market strategies to drive future growth. 

Commenting on the deal, John Bryant, Chairman and CEO, Kellogg’s Company said, "As a region that is experiencing explosive growth, with a population of almost one billion people and an economy that is expected to more than double over the next 10 years, Sub-Saharan Africa provides tremendous opportunity for our company.”

He further added, "Tolaram Africa has built a highly successful consumer products business and today, it is one of the largest food companies in Nigeria. Tolaram has a great track record of building beloved consumer brands, including the market leader Indomie noodles, and fuelling their growth.  This partnership is an excellent strategic fit for Kellogg’s."

Interestingly, apart from the creation of a joint venture between Kellogg’s Company and Tolaram Africa to develop snacks and breakfast foods for the West African market. Kellogg’s has acquisition 50 per cent stake of Multipro, a premier sales and distribution company in Nigeria and Ghana. The right to acquire a stake in Tolaram Africa Foods (which owns 49 per cent of Dufil Prima) in the future. Dufil Prima manufactures and markets several leading food brands, including Indomie noodles, which are often consumed at breakfast, as well as Minimie snacks, Power oil and Power pasta.

Meanwhile, Sajen Aswani, CEO, Tolaram Group shared, "Kellogg’s is a world leader in its categories and has successfully built brands that are synonymous with it. We're pleased to have entered into this partnership, as we share similar values and an aligned vision for Africa, a continent we have been operating in for over 35 years. This is another significant step towards providing affordable and wholesome nutrition for our expanding consumer base.”

Reportedly, Kellogg’s Company has agreed to pay approx $450 million for a 50 per cent stake in Multipro and the option to purchase a stake in Tolaram Africa Foods.  The total sales expected to be approximately $750 million in 2015. Kellogg’s Company will fund the acquisition using international cash and an increase in commercial paper of $350 million, says a release.

Expectedly, the company that reported earnings per share excluding transaction and integration costs will not be affected by the transaction in 2015 or 2016; the company expects slight earnings accretion in 2017.