World Grain - February 2014 - 92

FEATURE: strong returns in 2013

across the industry and ever increasing and gluten-free bakery goods, closed & Easy Neighborhood Market chain
demands from customers for higher food 2013 at 63p, up 66% from 38p in 2012. to private investment firm Yucaipa
safety standards.
Greggs PLC, an operator of retail bak- Companies LLC. Tesco launched the
"This investment will allow us not ery shops and cafes in the U.K., finished Fresh & Easy concept in 2007 with a
only to meet our customers' needs and 2013 at 430.5p, down 5% from 454p in goal of introducing a retail format in the
expectations but also to return the Food 2012 and down 15% from 506p in 2011. United States that was smaller, easier
division to improved levels of financial The stock reached as high as 523.5p in to navigate than the stores of larger reperformance," he said.
March 2013.
tailers and able to deliver fresh foods
Tate & Lyle PLC, the global sweetener
The three leading U.K. retail chains to consumers at an affordable price. In
company, had a 52-week low of 730.5p sustained mixed share price moves dur- December 2012, Tesco began a strateand a high of 889.5p, but ultimately ing the past year. Tesco, the leader in gic review of the Fresh & Easy format
ended the year up 6%, closing at 809p. U.K. food retailing, closed at 334.35p, because the chain was not delivering an
In July, Tate & Lyle signed an agree- down narrowly from 336p a year ago. acceptable shareholder return.
ment with Xuzhou Yitong Food Industry Tesco in late November sold its Fresh
In April 2013, the retailer said it
Co., Ltd. to form a sino-foreign
planned to sell Fresh & Easy and
joint venture through the acquisiexit the U.S. market.
2013 share price performance
tion of a 51% equity interest in
Marks & Spencer, meanwhile,
Marks & Spencer
United Kingdom
13%
Jiangsu Howbetter Food Co. Ltd.,
finished the year at 432.6p, up 13%
Premier Foods
United Kingdom
11%
a food systems business in China.
from 382p, and Sainsbury, PLC
Greggs P.L.C.
United Kingdom
-5%
Earlier, in May, Tate & Lyle bought
closed the year at 365p, up 6%
Tesco
United Kingdom
-1%
Biovelop, a Swedish manufacturer
from 345.1p.
Associated British Foods
United Kingdom
56%
of oat beta glucan. Biovelop, which
In Ireland, Greencore Group
Tate & Lyle P.L.C.
United Kingdom
6%
Carr's Milling
United Kingdom
60%
was founded in 2005 and made its
PLC, a European maker of conSainsbury P.L.C.
United Kingdom
6%
first sale of commercial product in
venience food and malt products,
Finsbury Food Group P.L.C.
United Kingdom
66%
2010, makes oat beta glucan unfinished at €2.57, up 104% from
Kerry Group
Ireland
25%
der the brand names PromOat and
€1.26 in 2012 and up 308% from
Greencore Group
Ireland
104%
Avenacare at a production facility
the 2011 close of €0.63. Greencore
Origin Enterprises
Ireland
69%
in Kimstad, Sweden.
in a mid-November update said
Agrium Inc.
Australia
-8%
GrainCorp Ltd.
Australia
-31%
Premier Foods, the U.K.'s largone of its goals going forward is
Goodman Fielder Ltd.
Australia
11%
est food producer, finished 2013 at
to "scale up" its U.S. foods-to-go
First Baking Co.
Japan
72%
125p, up 11% from 113p in 2012.
business. In addition to the sucNisshin Seifun
Japan
1%
Premier continued its efforts to recessful integration of MarketFare
Nissin Foods Holdings
Japan
36%
organize its milling business into
and Schau, Greencore said it deNippon Flour Mills Co. Ltd.
Japan
48%
Yamazaki Baking
Japan
12%
two parts during 2013. The comlivered growth and innovation
Indofood
Indonesia
13%
pany closed three bakeries and
with its largest U.S. customer -
Flour Mills of Nigeria
Africa
34%
two mills during the year. Then, in
7-Eleven - while Starbucks deDanone
France
5%
November, the company appointed
livered as a major new customer
Ahold n.v.
The Netherlands
29%
Ondra Partners to assist in develacross four regions.
Corbion
The Netherlands
-5%
DSM
The Netherlands
25%
opment investment options for
Kerry Group finished the year
Unilever
The Netherlands
2%
its bread business. Premier Foods
at €50.5, up 25% from €40.5p
Nestle S.A.
Switzerland
10%
owns a range of brands, including
in 2012. In late October, Kerry
Aryzta AG
Switzerland
46%
Hovis and Mother's Pride bread,
opened the Kerry Regional
Alexandria Flour
Egypt
53%
and Mr. Kipling cakes. Ondra
Development and Application
East Delta Flour Co.
Egypt
17%
Middle Egypt Flour
Egypt
137%
Partners is an independent financial
Centre in Dubai, a new center to
Middle and West Delta Flour Co. Egypt
35%
advisory firm that specializes in
serve Kerry's global and regional
North Cairo Flour
Egypt
15%
mergers and acquisitions, strategy,
customer base in the Middle East,
South Cairo & Giza Flour Mills
Egypt
46%
restructurings and capital markets
North Africa and Turkey.
Egyptian Starch
Egypt
-19%
advisory. Media reports have menOrigin Enterprises embarked
Upper Egypt Flour
Egypt
18%
tioned Mexico City-based Grupo
on a steady rise in 2013, beginEbro Foods
Spain
13%
Tiger Brands Ltd.
South Africa
-18%
Bimbo S.A.B. de C.V. as a potential
ning the year at €4.15, climbing to
Quinenco
Chile
-12%
suitor for a stake in the business.
€6.3 in August and ultimately finMolinos Rio Plata
Argentina
13%
Finsbury Food Group PLC, a
ishing at €7 at year's end, up 69%
U.K.-based maker of cake, bread
for the year. Origin Enterprises
92

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World Grain - February 2014

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