BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Justice Department probes chocolate makers]]>http://www.bloggingstocks.com/2007/12/21/justice-department-probes-chocolate-makers/http://www.bloggingstocks.com/2007/12/21/justice-department-probes-chocolate-makers/http://www.bloggingstocks.com/2007/12/21/justice-department-probes-chocolate-makers/#commentsFiled under: , ,

Last month, Canadian regulators began an investigation into allegations of price-fixing involving Hershey Co. (NYSE: HSY), Cadbury Schweppes PLC (NYSE: CSG) Mars Inc. and Nestlé SA (VTX: NESN).

Now our own Justice Department is looking into the issue as well. Chocolatiers have been battling with surging dairy prices and there have been allegations that various firms colluded to fix prices. Ontario's Superior Court of Justice has granted search warrants for the above candy makers, but no charges have been filed.

According (subscription required) to the Wall Street Journal, "It isn't clear precisely what the Justice Department is looking into or whether the preliminary inquiry will become a formal criminal investigation. Price fixing can be a serious offense, leading to heavy fines and, in some cases, jail terms for executives."

The legal issues aside, does anyone really think that lack of access to affordable chocolate is a serious problem in the United States? Judging from The US of A's collective waistline, a little price fixing and consumer gouging could do our body mass indexes a bit of good.

Justice Department probes chocolate makers originally appeared on BloggingStocks on Fri, 21 Dec 2007 12:33:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>antitrustCadbury Schweppes PLCCadburySchweppesPlcChocolatecsgdepartment of justiceDepartmentOfJusticehersheyhsyinthenewsmars incMarsIncnestle saNestleSaontariovesnFri, 21 Dec 2007 12:33:00 EST<![CDATA[Campbell (CPB) seeks big bucks for Godiva Chocolatier]]>http://www.bloggingstocks.com/2007/09/14/campbell-cpb-seeks-big-bucks-for-godiva-chocolatier/http://www.bloggingstocks.com/2007/09/14/campbell-cpb-seeks-big-bucks-for-godiva-chocolatier/http://www.bloggingstocks.com/2007/09/14/campbell-cpb-seeks-big-bucks-for-godiva-chocolatier/#commentsFiled under: , , , ,

According to a report from Bloomberg this morning, Campbell Soup Co. (NYSE: CPB) is looking to rake in somewhere between $1 billion to $1.5 billion when it sells off its boutique chocolate brand Godiva Chocolatier. News of the company's interest in selling off the brand came early last month, at which time analysts had predicted the sale would bring in between $750 million and $1 billion.

The company first got involved with Godiva back in 1966 when it purchased one-third of the company, and following that took over ownership. Godiva represents around 7% of Campbell's total revenues, but the company has been careful to keep the brand separate from the core Campbell's name brand.

It makes sense that Campbell's would try to unload Godiva as it is trying to focus on "centering on convenience, wellness and quality," and are looking to expand its soups business more in China and Russia, two countries that have faster growing economies and larger soup consumption than America.

Some potential buyers for Godiva could be Hershey Co. (NYSE: HSY), Mars Inc. and Cadbury Schweppes Plc (NYSE: CSG), according to Credit Suisse. Another company that has publicly stated interest is Swiss chocolate maker Lindt & Spruengli, which has announced yesterday that it will be raising its product prices from between 6 and ten percent, depending on the country, and will be looking into the possibility of picking up Godiva.

[Thanks to Jaye_Elle for the photo]

Michael Fowlkes has worked as a stock trader for seven years and spent the last two years working as an analyst for the online investment advisory service Investor's Observer

Campbell (CPB) seeks big bucks for Godiva Chocolatier originally appeared on BloggingStocks on Fri, 14 Sep 2007 11:15:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Cadbury Schweppes PlcCadburySchweppesPlccampbell soupCampbellSoupchocolatecpbcsgGodivahersheyhsyinthenewslindtFri, 14 Sep 2007 11:15:00 EST