2010 Top 100: Food

Although this market leader claims to be facing its share of economic challenges, it continued to grow business in new and exciting ways. Here are a few highlight: In January 2010, it opened a global R&D Centre for biscuits and cereal-based snacks in Santiago de Chile. In March, Nestl expanded its presence in the North American frozen pizza category by acquiring Kraft Foods' frozen pizza business. Then in April, a Direct Store Delivery division was formed for Nestl USA to support those newly acquired frozen pizza brands (Digiorno, California Pizza Kitchen, etc.) and brands manufactured by Dreyer's Grand Ice Cream. Most recently, the company launched its first corporate app for iPads and iPhones, which gives the nearly 1,000 investors that have downloaded it worldwide access to the latest company news and information.

 

 

Last year at this time, there was a lot of speculation about the fate of newly single Cadbury PLC, which had just demerged from its Americas Beverages business. After repeatedly rejecting Kraft Foods' unsolicited acquisition offers, we know now they were just delaying the inevitable. In January 2010, Cadbury finally caved and agreed to be acquired by Kraft for just under $19 billion. In a recent press release revealing third quarter results, Kraft Chairman and CEO Irene Rosenfeld reported that "The Cadbury integration has proceeded smoothly and quickly, and we're already benefiting from significant cost synergies. I remain confident that we will achieve our goals for 2010 and accelerate our growth in 2011."

 

 

While you may be unfamiliar with the name, JBS S.A. has established itself as a leader in the beef sector with the acquisition of several stores and food companies around the world, with emphasis on the 2007 $225-million acquisition of Swift & Company, which was the third beef and pork processor in the United States. In September 2009, the company acquired the food operation of Grupo Bertin, one of three Brazilian market leaders. Just three months later, the company also acquired 64 percent of bankrupt Pilgrim's Pride for a bid of $2.8 billion.