BAKERY PRODUCTS MCP-2203 A GLOBAL STRATEGIC BUSINESS REPORT

CONTENTS

I. INTRODUCTION, METHODOLOGY & Organic Bakery Products ...... II-11 PRODUCT DEFINITIONS Internationalization of Flavors ...... II-11 Factors Effecting Consumer Preferences...... II-12 Classification of Bakery Companies...... II-12 II. EXECUTIVE SUMMARY 3. Product Overview ...... II-13 1. Food Industry: A Global Perspective ...... II-1 Bread...... II-13 Baking Industry - Worldwide Scenario ...... II-1 History...... II-13 Market Trends...... II-2 Categories of Bread ...... II-13 Retailer Discounting Reduces Profit Margins...... II-2 Bread Types...... II-13 Increased Demand for Functional Food Boosts Sales in Morning Goods ...... II-14 Developed Regions ...... II-2 Cakes & Pastries ...... II-14 Indulgence - A Major Trend in Affluent Markets...... II-2 Cakes ...... II-14 Sale of Industrial Products Increases due to Changes in Pastry...... II-14 Eating Habits...... II-2 Biscuits...... II-15 Distribution Favors International Brands...... II-2 Other Bakery Products ...... II-15 The Proliferation of Multinationals in Emerging Cookies...... II-15 Markets Boosts Value ...... II-3 Types of Cookies...... II-15 Positive Health Opinions Benefit Breakfast Cereals...... II-3 Crackers...... II-15 Rise in Industry Consolidation due to Merger and Muffins ...... II-16 Acquisition Activities...... II-3 Bagels/Bialys...... II-16 Value Sales Sustained by the Segmentation of the Bakery Pretzels ...... II-16 Sector According to Consumer Needs...... II-3 Croissants ...... II-17 Current and Future Analysis...... II-4 Analysis by Geographic Region ...... II-4 4. Product Launches ...... II-18 Analysis by Product Segment ...... II-4 Grupo Bimbo’s Dead Bread Hit the US Market ...... II-18 Historic Review...... II-4 Bruegger’s Introduces Special Sandwich ...... II-18 Analysis by Geographic Region ...... II-4 Pukka Pies Now Available in Retail Outlets ...... II-18 Analysis by Product Segment ...... II-4 Kensey Foods Rolls Out Chocolate Products ...... II-18 Disney to Introduce Special Snacks to Fight Obesity...... II-18 2. Industry Overview ...... II-5 Cinnabon Launches Bite-Size Snacks ...... II-18 General Trends in the Industry...... II-5 Hostess Rolls Out New Brand in Hispanic Market...... II-19 Retail Moves...... II-5 Bakehouse Releases Frozen Baked Products...... II-19 Highlighting Trends and Facts ...... II-5 LU Biscuits Adds Mousse Biscuits to PIM’s Range...... II-19 Distribution Trends ...... II-6 United Biscuits’ Vegetarian Snacks Hit Market ...... II-19 New Retail Structures Arising from the Changing Burton’s Develops New Biscuits...... II-19 Shopping Behavior...... II-6 Merino Accelerates into Food Industry ...... II-19 Retailer Consolidation Leads to Growth in Burton’s Food Releases Cadbury-Licensed Jaffa Cakes...... II-19 Private Label ...... II-7 Huntley & Palmers Revive Biscuits ...... II-19 Rise in Repeat Visits Driven by Loyalty Cards...... II-7 Ingredients Solutions Rolls Out Latest Food Processing Internet and Television Shopping Yet to Make a Dent in Systems...... II-20 Food Industry...... II-8 Spectrum Foods Releases Nexsoy Low-Fat Soy Flour...... II-20 Supply Changes Driven by Development of In-store Clif Bar Launches Three Cookie Flavors ...... II-20 Bakeries ...... II-8 Warburtons Rolls Out Wholemeal Loaf ...... II-20 Trade Barriers ...... II-8 Warburtons Releases All in One Bread ...... II-20 Infrastructure ...... II-8 Raw Material Supply ...... II-9 IBC Releases 100% Whole Grain Bread ...... II-20 Price Pressure ...... II-9 Kellogg Releases Snack Crackers and Chip Cookies ...... II-20 Future Strategies ...... II-10 Bear Rock Rolls Out Salads ...... II-21 Development of International Brands ...... II-10 Chicago Metallic Expands Line of Aluminum Cake Pans....II-21 Co-Branding ...... II-10 Dawn Foods Rolls Out Top-Class Bakery Products...... II-21 Indulgent Products...... II-10 Mr Bagels Releases Children-Special Lunch Item ...... II-21 Age-Specific Brands...... II-10 Kangaroo Brands Rolls Out Breakfast Item ...... II-21 Packaging ...... II-11 Arnold Foods Launches Wheat Breads...... II-21 Brand Localization ...... II-11 Bakels Rolls Out Confectionery Concentrates...... II-22 Brand Licensing...... II-11 Sainsbury Releases Eating Structure for Children ...... II-22 Health-Orientated Products...... II-11 Kellogg Launches New Whole-Grain Cereal ...... II-22

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BAKERY PRODUCTS MCP-2203 A GLOBAL STRATEGIC BUSINESS REPORT

CONTENTS

Bruegger's Launches Stone Hearth Breads...... II-22 Tofutti Brands Inc. Launches Tofutti Soy Bagels...... II-29 Awrey Introduces New Assorted Cakes...... II-22 Loyd Grossman Unveils Loyd Grossman Bagels ...... II-29 Kellogg Launches 'The Incredibles' Breakfast Options ...... II-22 Macabee Kosher Foods, LLC Reveals Mini Pizza Bagels....II-29 Kellogg Offers Cheddar Crackers ...... II-23 Shah Bector & Sons Introduces Bakery Products...... II-29 Kellogg Launches Special K Cereals ...... II-23 Your Best Bakery Products, LLC Debuts Glazed Kellogg Introduces Brand Extensions for Kids' Cereals...... II-23 Butter Cakes ...... II-29 Kellogg Introduces Yet Another Cereal ...... II-23 Amarlalsai Bakery Products Releases Creamy Wafer ...... II-29 UB Launches New Mcvities range...... II-24 El Almendro Alimentacion, S.A. Debuts Pie and Sara Lee Bakery Launches New 100% Whole-Wheat Marzipan...... II-29 Bagels...... II-24 Your Best Bakery Products, LLC Launches Amanda’s Milton's Baking Company Launches Bagel Product ...... II-24 Coffee Lovers Cookies ...... II-29 Maple Leaf Offers Cheese Bagels in US...... II-24 Multifoods Bakery Products Debuts Pre-baked Bread...... II-30 Pepperidge Farm Introduces Plain Mini Bagels ...... II-24 Pillsbury Co. Unveils Bagel Shoppe Frozen Toaster Aurora Expands Bagel Product Line...... II-24 Bagels ...... II-30 M&M-Mars Inc. Reveals Pizzeria Pretzel Snacks...... II-24 Health is Wealth Products Inc. Launches Mini Pizza ConAgra Inc. Unveils Butterball...... II-25 Bagels ...... II-30 Silver Hills Bakery Launches Bread ...... II-25 Ralphs Grocery Co. Introduces New Bagels ...... II-30 Land-Leben Nahrungsmittel GmbH Reveals Land-Leben Fleischer Bagels Rolls Out Cinnamon Raison Flavor Croutons ...... II-25 Sandwich Style Bagel Bread...... II-30 Weston Bakeries Ltd. Launches Better Half Bread ...... II-25 Fiera Foods Inc Releases Frozen Bagels ...... II-30 Glory Foods, Inc. Unveils Frozen Side Dish...... II-25 S.B. Thomas Reveals Thomas Gourmet Bagels in Three Flavors...... II-30 Interstate Brands Corp. Introduces Breads ...... II-25 DFG Foods, LLC Unveils Frozen Hors D’Oeuvres...... II-30 SalDoce Fine Foods Reveals Cheese Bread ...... II-25 Lender's Bagel Bakery Introduces Crusty Frozen Bagels.....II-30 Mestemacher GmbH Launches Whole Wheat Bread ...... II-25 New York Bagel Company Launches Pre-Sliced Bagels...... II-31 Hiestand Unveils Bake-Off Bread...... II-25 Earthgrains Co Releases International Hearth Blue Dragon Debuts Spring Roll Wrappers...... II-26 French Bread...... II-31 Soreen Extends Snack Product Line...... II-26 Nabisco Brands, Inc. Debuts Nabisco Air Crisps Vie de France Unveils Bread...... II-26 Original Cheese Nips...... II-31 Grupo Gamesa S.de R.L de C.V Launches Hot Cakes ...... II-26 Muffin Town Reveals Bagels-2000...... II-31 Ames International Inc. Releases Cookies ...... II-26 Kellogg Japan Unveils Breadia Frozen Bagel and Life Services Supplements, Inc. Reveals Keto Cookies ...... II-26 Waffles Through Ajinomoto...... II-31 Loblaws Supermarket Ltd. Launches Cookies ...... II-26 Rich Products Corp. Debuts Take & Bake Product Suite .....II-31 Naris Up Cosmetics Introduces Cookies ...... II-26 Rich Products Launches an Array of Frozen Bakery URC Thailand Co. Ltd. Rolls Out Cookies ...... II-26 Products...... II-31 Masterfoods Denmark Reveals Cookies...... II-26 Tasty Baking Rolls Out Pies...... II-31 Pepperidge Farm Inc. Unveils Cookies ...... II-27 La Francaise Bakery Introduces an Array of New Pepperidge Farm, Inc Rolls Out Cheese Crackers...... II-27 Products...... II-31 Unified Products, Inc. Launches Crackers...... II-27 Venetian Bakery Unveils Breakfast Bread ...... II-32 HyVee, Inc. Debuts Crackers...... II-27 Furlani Food Corporation Rolls Out Garlic Toast ...... II-32 Loblaws Inc. Release Crackers...... II-27 Pillsbury Co. Launches Toaster Bagel Shoppe...... II-32 Healtheries Introduces Wafers ...... II-27 King's Hawaiian Bakery West Releases Dinner and Namchow (Thailand) Ltd Launches Rice Crackers...... II-27 Sandwich Rolls ...... II-32 Jacob’s Bakery Ltd. Releases Rice Crackers...... II-27 Kellogg USA Inc. Debuts Toaster...... II-32 Tastee Foods Ltd. Unveils Wafers ...... II-27 Multifoods Bakery Reveals Gingerbreads...... II-32 Keebler Co. Launches Baked Crackers ...... II-27 Nature’s Hilhights Introduces Frozen Dessert Line...... II-32 Osem USA, Inc. Rolls Out Matzos Crackers...... II-28 Nantucket Tea Traders, Inc. Unveils Range of Bakery Westminster Crackers Introduces Crackers...... II-28 Products...... II-32 Richard Hislop Ltd. Unveils Crackers...... II-28 Sargento Foods Inc. Launches Pizza Creations ...... II-33 Widely Fortune Co. Ltd. Launches Corn Rolls ...... II-28 Earthgrains Co. Releases Grain Bread...... II-33 Nestle Rowntree Debuts Muffins ...... II-28 Perfection Bakeries Roll Out Rolls...... II-33 Food Club Ltd. Unveils Pastries...... II-28 Toufayan Bakeries Unveils Toufayan Soft Raisin Euro Food Concepts, Inc. Launches Range of Bakery Ring Rolls...... II-33 Products...... II-28 Fresco Foods, Inc. Launches Pestos ...... II-33 Danone (M) Marketing Sdn Bhd Reveals Crackers...... II-28 San Francisco Foods Releases Focaccia Bread...... II-33 Funny Bagels Food Co. Extends Bagels Line ...... II-28 Don Miguel Introduces Grillwich Supreme Sandwiches...... II-33 Aurora Foods Inc. Broadens Lender’s Suite of Bagels...... II-29 Sable & Rosenfeld Rolls Out Bread Toppers ...... II-33

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BAKERY PRODUCTS MCP-2203 A GLOBAL STRATEGIC BUSINESS REPORT

CONTENTS Alpha Baking Unveils Organic Baguettes...... II-33 Nantucket Off-Shore Seasonings, Inc. Rolls Out La Tortilla Factory Introduces Preservative Free Wraps ...... II-34 Stuffing Bread...... II-38 Rudi’s Bakery Inc. Launches Hot Dog Rolls...... II-34 Interstate Brands Companies Introduces Butter Motta Releases Soft Bread ...... II-34 Top Bread ...... II-38 B and G Foods Unveils Bakery Brand Coffee Sara Lee Corp. Broadens Artisan Style Breads ...... II-38 Break Toasts...... II-34 Wholesome Classics Unveils Bread Mix...... II-38 Brownstone Baking Co. Debuts Breadsticks...... II-34 Father Sam's Bakery Launches Wheat Flour Tortillas...... II-38 ConAgra Rolls Out Frozen French Bread ...... II-34 Barilla Rolls Out Sliced Bread Snack...... II-38 Perfection Bakeries Releases Hamburger Buns...... II-34 Beth’s Fine Deserts, Inc. Releases Cookies...... II-38 T. Marzetti Co. Launches Garlic Bread Sticks ...... II-34 Hodgson Mill, Inc. Launches Bread Mix...... II-38 Bestfoods Baking Co. Inc. Introduces Whole Wheat Allied Bakeries Introduce Buns...... II-38 Pita Bread ...... II-34 British Bakeries Roll Out Tubby Toast ...... II-39 Thomas Inc. Unveils Muffins...... II-34 Highgrove Foods Ltd Releases Part-Baked Bread...... II-39 Friend’s Inc. Rolls Out Frieda’s Wrappers...... II-34 William Jackson Bakery Launches Nutribread...... II-39 Lender’s Bagel Bakery Re-launches Lender’s Bagel Garma Foods International Unveils Crackers Shop Bagels...... II-34 Mini Sticks...... II-39 Rhodes International, Inc. Releases Rhodes McVitie's Reveals Cake Bar...... II-39 Bake-N-Serv & Bake-N-Pan Rolls ...... II-35 Warburtons Re-Introduces the Roll Suite...... II-39 S.B. Thomas Launches Gourmet Bagels ...... II-35 Venture Foods Debuts Organic Mini Bread ...... II-39 New Organics Company Rolls Out Baking Mix ...... II-35 Danone Introduces New Bread...... II-39 Conrad Rice Mill Inc. Reveals Bread Crumbs...... II-35 Brossard Unveils Three Snack Products...... II-39 Pepperidge Farm Inc Extends Swirl Bread Suite...... II-35 Albert Menes Launches Tartines Grillees Panification...... II-39 Lost Trail Root Beer Co. Launches Bread Mix ...... II-35 Dresdener Muhlen GmbH Unveils Ahrenworte Eli's Cheesecake Co. Unveils Cheesecakes...... II-35 Bread Mixes...... II-40 John Dough Co. Rolls Out Pizza Crust ...... II-35 Grissin Bon SpA Launches Salted Bread ...... II-40 Chatham Village Foods, Inc Extends Chatham Village Diamant Muhle Rolls Out Bread Mix...... II-40 Homestyle Large Cut Croutons Suite ...... II-35 Saiwa Debuts Snack Slices...... II-40 French Meadow Bakery Introduces Bred with Bauli Unveils Bauli La Croissanterie ...... II-40 Soy Insoflavones...... II-35 Gelati Sanson SpA Releases Sweet Bread...... II-40 Joseph Campione, Inc. Launches Toast Varieties...... II-36 El Almendro Alimentacion Unveils Two Bakery Mexican Accents, Inc. Unveils Tortillas ...... II-36 Products...... II-40 Ziyad Brothers Importing Releases Pita Bread...... II-36 Bimbo S.A Rolls Out Bread Products ...... II-40 Miss King's Kitchens, Inc. Rolls Out Brunch Bread...... II-36 Corven Estrategias Launches Calcium Bread...... II-40 Cajun Injector, Inc. Launches Pudding Bread ...... II-36 Dulcesa, S.A. Unveils Dulce Sol Bolleria Pastry Suite...... II-40 Stroehmann Bakeries, Inc. Unveils Maier’s Rolls...... II-36 Yoki Alimentos S.A. Introduces Bread Mix...... II-41 Interstate Brands Corp. Introduces Muffins ...... II-36 Harvest Gold Foods (India) Ltd. Debuts Brown Bread...... II-41 Beth's Fine Desserts Inc. Releases Cookies...... II-36 Speedibake Releases Bread/Rolls...... II-41 Charles Freihofer Baking Co., Inc. Rolls Out New Bread George Weston Foods Rolls Out Home Bake Bread ...... II-41 Variety...... II-36 Tip Top Bakery Launches Hyfibe Bread Suite...... II-41 Keebler Co. Launches Harvest Bakery Crackers...... II-36 Australian Garlic Unveils Garlic Bread...... II-41 Los Pericos Tostadas Introduces Shells...... II-36 Lowan Whole Foods Introduces Bread Mix...... II-41 D and M Unveils Tortillas...... II-37 Pillsbury Ellas Reveals Chilled Dough Products...... II-41 Hillbilly Joe's Rolls Out Breading in Varieties...... II-37 Allied Foods Launches Muffins ...... II-41 Kineret Foods Corp. Launches Stuffing Mix...... II-37 Pillsbury Ellas Reveals Chilled Dough Products...... II-41 Pepperidge Farm, Inc. Extends Bread Line ...... II-37 Penotti Duo Penotti Dippi Unveils Breadsticks...... II-41 Old El Paso Foods Co. Unveils Tortillas...... II-37 Groot's Roggebrood Rolls Out Sliced Bread ...... II-42 Carl Brandt, Inc. Releases Brandt Pani Picante Wasa Introduces Crisp Bread ...... II-42 Brot-Snack...... II-37 Primulan Leipomot Oy Launches Oat Bread...... II-42 Bec-Lin Broadens Bread Suite...... II-37 Myllyn Paras Oy Reveals Frozen Dough...... II-42 Lupitas Introduces Round Flour Tortillas...... II-37 Ryvita Co. Unveils Crispbread...... II-42 S.B. Thomas Extends Muffin Line...... II-37 Groupe Artal Launches Sachets of Buns ...... II-42 Tumaro's Inc. Broadens Tortilla Wraps Line...... II-37 Fargo Introduces Doble Sliced Bread...... II-42 Excalibur Launches Premium Stuffing...... II-37 Charles Freihofer Baking Co., Inc. Unveils White Bread.....II-37 5. Recent Industry activity ...... II-43 Lesley Elizabeth Inc. Widens Crisps Suite...... II-38 Royal Cake’s Assets Acquired by Flowers Foods ...... II-43 Hye Quality Bakery, Inc. Launches Cracker Bread...... II-38 Flower Foods Purchases Assets of CHS...... II-43

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CONTENTS

Finsbury Food Adds Three Suppliers to its Name...... II-43 APV Baker Wins Contract From Alfonzo Rivas...... II-51 Nonni’s Takes Over Mamma Says...... II-43 Cerealia Plans to Build a Bread Making Plant in Russia ...... II-51 I1 Fornaio to Acquire Corner Bakery...... II-44 Interstate Plans to Shut Down its Bakery ...... II-52 Continental Mills Completes Acquisition of Pillsbury© UB Proposes to Divest Benelux Snack Business to Business...... II-44 Roger & Roger...... II-52 Au Bon to Acquire Compass Group’s Business...... II-44 Smucker Plans to Divest Part of Multifoods...... II-52 Bunzl Acquires SOFCO...... II-44 Sara Lee Bakery Divests Houston Bakery...... II-52 The Pantry Agrees to Acquire Chatham’s C-Stores ...... II-44 Sara Lee Bakery Plans to Close Two Plants in Texas...... II-52 Planet Organic Buys Newfound Health...... II-44 DANONE Divests W & R Jacob Ltd to Fruitfield...... II-53 Hilco and Monomoy Acquire Awrey ...... II-44 Bunge North America Plans to Divest Bakery Business to J & J Takes Over Snackworks...... II-45 Dawn Food Products...... II-53 Daniel Mills & Sons to Buy Stake...... II-45 Grupo Bimbo SA Acquires George Weston Ltd...... II-53 Pastry Pro Acquires New Spot in Kuala Lumpur ...... II-45 Canada Bread Acquires Olafson's Baking...... II-53 Premier Foods to Acquire Marlo Foods ...... II-45 Canada Bread Acquires Ben's...... II-53 SYSCO Purchases Facciola...... II-45 ABG Buys Bake-Line Products and CBC's Baking V & S and Angostura Holdings in a Pact ...... II-45 Operations...... II-53 Cargill Buys IBR...... II-45 Mrs. Smith's Acquires Gordon Pies Brand of NBTY to Acquire SOLGAR ...... II-45 Londonberry ...... II-54 Costa Being Acquired by Pasta ...... II-46 Panera Bread Co. Inks Agreement with Rolling Bako Products Acquired by Harte Foods ...... II-46 Dough Ltd...... II-54 Bimbo to Acquire La Corona ...... II-46 Smithfield Foods Inc. Forms Joint Venture with PerformanceRetail and Notiva Merge ...... II-46 Artal Holland BV...... II-54 Zaro’s Sets Up New Wholesale Division ...... II-46 Klaus Rapp Signs Partnership Agreement with Quality Orana Sets Up R & D Facility in India...... II-46 Food Group...... II-54 The Cheesecake Factory to Establish Manufacturing Dunkin' Donuts Forms Joint Venture with Jelly Unit in Nash County ...... II-46 Belly Candy...... II-54 Trigo Bread to Launch New Bakery-Cafes in Ohio...... II-47 La Caixa Buys 30% Holding of Panrico...... II-54 MDG to Set Up New Eateries ...... II-47 Hiestand Acquires Gerd Suhr Produkt-Systeme ...... II-54 Panera to Establish Three Stores ...... II-47 Grupo Bimbo SA Buys Plus Vita ...... II-55 Delifrance All Set to Become a Retailer...... II-47 Sara Lee Acquires Earthgrains ...... II-55 Mrs. Beasley’s Renovates Beverley Hills’s Restaurant...... II-47 Flower Foods Merges with Kellogg ...... II-55 Chef Solution Grants Name to Bakery Division...... II-47 Costco Enters into Agreement with Nestle & Einstein ...... II-55 Dean Foods Spins-Off Treehouse...... II-48 Harry-Brot Establishes Bakery Plant...... II-55 Rich Products to Terminate Production at Pine Gramss Backstuben Sets Up New Production Plant ...... II-55 Bluff Plant ...... II-48 Flower Industries Spin Off Flower Foods ...... II-55 IBC to Shutdown Two San Francisco-Based Bakeries...... II-48 Dawn Food Products Takes Over P Olender & Sons and IBC to Shutdown Massachusetts and New Bedford Olender Bessire...... II-55 Facilities ...... II-48 Guernsey Bel Inc. Acquires Chalet Desserts ...... II-56 Smucker Divests Multifoods U.S...... II-48 Fleischer's Bagels Inc Merges with Strategic Investments & J.M. Smucker Divests Dairy and Industrial Bakery Holdings Inc ...... II-56 Ingredients Businesses...... II-48 Albatros Acquires Manufacturing Facility of Clement...... II-56 ConAgra Foods Signs Divesture Agreement with Pan-Star Buys Stake in Nuevos Desarollos Panaderos ...... II-56 Pilgrim’s Pride...... II-49 Keebler Foods Co., Acquires Austin Quality Foods Inc...... II-56 CSM Divests its Swedish Subsidiary ...... II-49 Woodstock Organics Inc Acquires Macabee Foods LLC .....II-56 United Biscuits Sheds Out a Couple of Brands ...... II-49 Nabisco Biscuits and Danone SA Acquire United Biscuits..II-56 Catterton Partners Acquires Cookie Businesses from Philip Morris Acquires Nabisco Holdings Corp...... II-56 Parmalat...... II-49 Unilever Acquires Bestfoods...... II-56 Smucker Purchases IMC ...... II-49 Earthgrains Co. Acquires Metz Baking Co...... II-57 Smucker Divests Australian Subsidiary ...... II-50 Plantagenet Capital Management LLC Acquires Smucker Sells Brazilian Subsidiary ...... II-50 Pain et Force ...... II-57 Ralcorp Acquires Assets of Concept 2 Bakers ...... II-50 Merger of BAB Holdings Inc and Planet Zanett Corporate UB Acquires Triunfo...... II-50 Incubator Approved ...... II-57 Bunge to Acquire Ideal Brand from Molinos Hindustan Levers Ltd. Acquires Modern Foods...... II-57 International...... II-50 Exxel Group Acquires Antojos...... II-57 Groupe DANONE to Acquire Chok and Rolls...... II-50 Rich Products Corp. Merges with J.W. Allen and Buhler Group and Veripan AG form Joint Venture Company...... II-57 Company ...... II-50 Woodstock Organics, Inc. Acquires Macabee Foods...... II-57

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BAKERY PRODUCTS MCP-2203 A GLOBAL STRATEGIC BUSINESS REPORT

CONTENTS BAB Holdings, Inc. Inks Agreement with Models Cities Table 2: World Historic Review for Bakery Products by Community Development Corp...... II-57 Geographic Region - United States, Canada, Japan, Europe, Rich Products Ink Agreement with Fiera Foods...... II-57 Asia-Pacific (Excluding Japan), Latin America and Rest of Panera Bread Forges Agreement with Three World Markets Independently Analyzed by Annual Sales Franchisees ...... II-58 for the years 1991 through 2000 in US$ Million Caribbean Enterprises, Inc. to Market Celebration (includes corresponding Graph/Chart) ...... II-65 Rum Cake...... II-58 Table 3: World 20-Year Perspective for Bakery Products by Pillsbury Enters into Joint Venture with Pure Foods Geographic Region - Percentage Breakdown of Dollar Sales Corporation (Philippines) ...... II-58 for United States, Canada, Japan, Europe, Asia-Pacific Warburton Completes Construction of New Bakery ...... II-58 (Excluding Japan), Latin America and Rest of World Spring Wheat Bakers Establishes New Plant...... II-58 Markets for the years 1991, 1995, 2005 and 2010 King's Hawaiian Bakery West Undergoes Capacity (includes corresponding Graph/Chart) ...... II-66 Expansion ...... II-58 Table 4: World Recent Past, Current & Future Analysis for Wendy’s International Inc. Establishes New Bread/Rolls by Geographic Region - United States, Canada, Manufacturing Plant ...... II-58 Japan, Europe, Asia-Pacific (Excluding Japan), Latin America Big Foods Increases Installed Capacity...... II-58 and Rest of World Markets Independently Analyzed by Big Foods Alimentos Congelados Increases Annual Sales for the years 2001 through 2010 in US$ Production ...... II-58 Million (includes corresponding Graph/Chart)...... II-67 Panificadora Veneziana Establishes New Plant...... II-59 Table 5: World Historic Review for Bread/Rolls by Geographic Burton Biscuits Restructures Company...... II-59 Region - United States, Canada, Japan, Europe, Asia-Pacific Maple Leaf Bakery Reformulates Business Strategy...... II-59 (Excluding Japan), Latin America and Rest of World Markets Groupe Danone Introduces New Strategy ...... II-59 Independently Analyzed by Annual Sales for the years 1991 through 2000 in US$ Million (includes corresponding 6. Focus on Select Players ...... II-60 Graph/Chart)...... II-67 Bahlsen KG (Germany)...... II-60 Table 6: World 20-Year Perspective for Bread/Rolls by Big Apple Bagels (BAB) (US)...... II-60 Geographic Region - Percentage Breakdown of Dollar Sales Britannia Industries (India) ...... II-60 for United States, Canada, Japan, Europe, Asia-Pacific Bruegger’s Bagels (US) ...... II-60 (Excluding Japan), Latin America and Rest of World Chipita International S.A. (Greece)...... II-60 Markets for the years 1991, 1995, 2005 and 2010 Elite Industries (Israel)...... II-61 (includes corresponding Graph/Chart) ...... II-68 George Weston Foods (Australia)...... II-61 Groupe Danone (France)...... II-61 Table 7: World Recent Past, Current & Future Analysis for Grupo Industrial Bimbo (Mexico)...... II-61 Morning Goods by Geographic Region - United States, Canada, Japan, Europe, Asia-Pacific (Excluding Japan), Interstate Bakeries Corporation (US) ...... II-61 Latin America and Rest of World Markets Independently Kellogg Company (US)...... II-62 Analyzed by Annual Sales for the years 2001 through Manhattan Bagel (US)...... II-62 2010 in US$ Million (includes corresponding McDonald’s (US)...... II-62 Graph/Chart)...... II-69 McGlynn Bakeries LLC (US) ...... II-63 Nestle Chile (Chile)...... II-63 Table 8: World Historic Review for Morning Goods by New World Restaurant Group, Inc (USA)...... II-63 Geographic Region - United States, Canada, Japan, Europe, Riviana Foods Inc. (US)...... II-63 Asia-Pacific (Excluding Japan), Latin America and Rest of Sara Lee Bakery Group (US) ...... II-63 World Markets Independently Analyzed by Annual Sales Specialty Foods Acquisition (US)...... II-64 for the years 1991 through 2000 in US$ Million The Great Canadian Bagel Company (Canada)...... II-64 (includes corresponding Graph/Chart) ...... II-69 Parle Products Ltd. (India) ...... II-64 Table 9: World 20-Year Perspective for Morning Goods by United Biscuits (UK)...... II-64 Geographic Region - Percentage Breakdown of Dollar Sales Yamazaki Baking (Japan) ...... II-64 for United States, Canada, Japan, Europe, Asia-Pacific (Excluding Japan), Latin America and Rest of World 7. Global Market Perspective ...... II-65 Markets for the years 1991, 1995, 2005 and 2010 (includes corresponding Graph/Chart) ...... II-70 Table 1: World Recent Past, Current & Future Analysis for Bakery Products by Geographic Region - United States, Table 10: World Recent Past, Current & Future Analysis for Canada, Japan, Europe, Asia-Pacific (Excluding Japan), Cakes/Pastries by Geographic Region - United States, Canada, Latin America and Rest of World Markets Independently Japan, Europe, Asia-Pacific (Excluding Japan), Latin America Analyzed by Annual Sales for the years 2001 through and Rest of World Markets Independently Analyzed by Annual 2010 in US$ Million (includes corresponding Sales for the years 2001 through 2010 in US$ Million Graph/Chart) ...... II-65 (includes corresponding Graph/Chart) ...... II-71

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CONTENTS

Table 11: World Historic Review for Cakes/Pastries by Table 20: World Historic Review for Other Bakery Products Geographic Region - United States, Canada, Japan, Europe, by Geographic Region - United States, Canada, Japan, Asia-Pacific (Excluding Japan), Latin America and Rest of Europe, Asia-Pacific (Excluding Japan), Latin America World Markets Independently Analyzed by Annual Sales and Rest of World Markets Independently Analyzed by for the years 1991 through 2000 in US$ Million Annual Sales for the years 1991 through 2000 in (includes corresponding Graph/Chart) ...... II-71 US$ Million (includes corresponding Graph/Chart)...... II-77 Table 12: World 20-Year Perspective for Cakes/Pastries by Geographic Region - Percentage Breakdown of Dollar Sales Table 21: World 20-Year Perspective for Other Bakery for United States, Canada, Japan, Europe, Asia-Pacific Products by Geographic Region - Percentage Breakdown (Excluding Japan), Latin America and Rest of World of Dollar Sales for United States, Canada, Japan, Markets for the years 1991, 1995, 2005 and 2010 Europe, Asia-Pacific (Excluding Japan), Latin America (includes corresponding Graph/Chart) ...... II-72 and Rest of World Markets for the years 1991, 1995, Table 13: World Recent Past, Current & Future Analysis 2005 and 2010 (includes corresponding for Savory Biscuits by Geographic Region - United States, Graph/Chart)...... II-78 Canada, Japan, Europe, Asia-Pacific (Excluding Japan), Latin America and Rest of World Markets Independently Analyzed by Annual Sales for the years 2001 through 2010 in US$ III. MARKET Million (includes corresponding Graph/Chart)...... II-73 Table 14: World Historic Review for Savory Biscuits by 1. The United States ...... III-1 Geographic Region - United States, Canada, Japan, Europe, A. Market Analysis ...... III-1 Asia-Pacific (Excluding Japan), Latin America and Rest of United States - The Single Largest Market...... III-1 World Markets Independently Analyzed by Annual Sales for Current and Future Analysis...... III-1 the years 1991 through 2000 in US$ Million Demographic Trends...... III-1 (includes corresponding Graph/Chart) ...... II-73 Market Facts and Current Trends ...... III-1 Table 15: World 20-Year Perspective for Savory Biscuits by Table 22: Leading Fresh Bread Brands in the US for Geographic Region - Percentage Breakdown of Dollar Sales 2004 and 2005: Percentage Breakdown by Value for United States, Canada, Japan, Europe, Asia-Pacific Sales for Wonder, Pepperidge Farm, Oroweat, (Excluding Japan), Latin America and Rest of World Nature's Own, Arnold, Home Pride, Sunbeam, Markets for the years 1991, 1995, 2005 and 2010 Sara Lee, Merita, Private Label and Others (includes corresponding Graph/Chart) ...... II-74 (includes corresponding Graph/Chart)...... III-2 Table 16: World Recent Past, Current & Future Analysis Table 23: Leading Fresh Bread Vendors in the US for Sweet Biscuits by Geographic Region - United States, for 2004 and 2005: Percentage Breakdown by Value Canada, Japan, Europe, Asia-Pacific (Excluding Japan), Sales for Interstate Bakeries Corp., George Weston Inc., Latin America and Rest of World Markets Independently Sara Lee Bakery Group, Flowers Bakeries, Bimbo Analyzed by Annual Sales for the years 2001 through Bakeries USA, Pepperidge Farm, General Mills, 2010 in US$ Million (includes corresponding Lewis Bakeries, Perfection Bakers Inc., Private Graph/Chart) ...... II-75 Label and Others (includes corresponding Table 17: World Historic Review for Sweet Biscuits by Graph/Chart)...... III-3 Geographic Region - United States, Canada, Japan, Europe, Asia-Pacific (Excluding Japan), Latin America and Rest of Table 24: Leading Wheat/Whole Wheat/Grain Bread World Markets Independently Analyzed by Annual Sales Brands in the US for 2004 and 2005: Percentage for the years 1991 through 2000 in US$ Million Breakdown by Value Sales for Wonder, Pepperidge (includes corresponding Graph/Chart) ...... II-75 Farm, Oroweat, Nature's Own, Arnold, Home Pride, Sunbeam, Sara Lee, Merita, Private Table 18: World 20-Year Perspective for Sweet Biscuits by Label and Others (includes corresponding Geographic Region - Percentage Breakdown of Dollar Sales Graph/Chart)...... III-4 for United States, Canada, Japan, Europe, Asia-Pacific (Excluding Japan), Latin America and Rest of World Table 25: Leading Cookie Brands in the US for 2002: Markets for the years 1991, 1995, 2005 and 2010 Percentage Breakdown by Value Sales for Nabisco (includes corresponding Graph/Chart) ...... II-76 Oreo, Nabisco Chips Ahoy, Keebler Chips Deluxe, Nabisco Newtons, Private Label, and Others Table 19: World Recent Past, Current & Future Analysis for (includes corresponding Graph/Chart)...... III-4 Other Bakery Products by Geographic Region - United States, Canada, Japan, Europe, Asia-Pacific (Excluding Japan), Table 26: Leading Snack Cake Brands in the US for Latin America and Rest of World Markets Independently 2002: Percentage Breakdown by Value Sales for Analyzed by Annual Sales for the years 2001 through Little Debbie, Hostess, Tastykake, Drake, Private 2010 in US$ Million (includes corresponding Label, and Others (includes corresponding Graph/Chart) ...... II-77 Graph/Chart)...... III-5

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CONTENTS

Table 27: Refrigerated Bakery Products in the US Table 32: Canadian Historic Review for Bakery Products for 2002: Percentage Breakdown by Value Sales by Product Segment - Bread/Rolls, Morning Goods, through Supermarkets for Bagels/Bialys, Cakes, Cakes/Pastries, Savory Biscuits, Sweet Biscuits and English Muffins, Pies, Bread, and Others Other Bakery Products Independently Analyzed by (includes corresponding Graph/Chart)...... III-5 Annual Sales for the years 1991 through 2000 in US$ Million (includes corresponding Key Players ...... III-5 Graph/Chart)...... III-37 Big Apple Bagels (BAB) ...... III-5 Bruegger’s Bagels...... III-5 Table 33: Canadian 20-Year Perspective for Bakery Chesapeake Bagel Bakery...... III-6 Products by Product Segment - Percentage Breakdown Interstate Bakeries Corporation (IBC) ...... III-6 of Dollar Sales for Bread/Rolls, Morning Goods, Kellogg Company...... III-6 Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Manhattan Bagel...... III-6 Other Bakery Products for the years 1991, 1995, 2005 and 2010 (includes corresponding McDonald’s...... III-7 Graph/Chart)...... III-38 McGlynn Bakeries LLC...... III-7 Sara Lee Bakery Group...... III-7 3. Japan...... III-39 Specialty Foods Acquisition ...... III-7 Historic Review...... III-7 A. Market Analysis ...... III-39 Product Introductions/Innovations ...... III-8 Current and Future Analysis...... III-39 Recent Industry Activity ...... III-24 Yamazaki Baking Co. Ltd - A Key Player...... III-39 B. Market Analytics ...... III-34 Historic Review...... III-39 Product Launch ...... III-40 Table 28: US Recent Past, Current & Future Analysis for Bakery Products by Product Segment - Bread/Rolls, Table 34: Leading Bread Manufacturers in Japan Morning Goods, Cakes/Pastries, Savory Biscuits, Sweet for 2004 and 2005: Percentage Breakdown by Value Biscuits and Other Bakery Products Independently Shipments for Yamazaki Baking, Shikishima Baking, Analyzed by Annual Sales for the years 2001 through Fuji Baking, Kobeya Baking and Others 2010 in US$ Million (includes corresponding (includes corresponding Graph/Chart)...... III-40 Graph/Chart) ...... III-34 Table 35: Leading Biscuits/Cookies Manufacturers Table 29: US Historic Review for Bakery Products in Japan for 2004 and 2005: Percentage Breakdown by Product Segment - Bread/Rolls, Morning Goods, by Value Shipments for Bourbon, Yamazaki Nabisco, Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Lotte, Ezaki Glico, Morinaga and Others Other Bakery Products Independently Analyzed by (includes corresponding Graph/Chart)...... III-40 Annual Sales for the years 1991 through 2000 B. Market Analytics ...... III-41 in US$ Million (includes corresponding Graph/Chart) ...... III-34 Table 36: Japanese Recent Past, Current & Future Analysis for Bakery Products by Product Segment - Bread/Rolls, Table 30: US 20-Year Perspective for Bakery Products Morning Goods, Cakes/Pastries, Savory Biscuits, Sweet by Product Segment - Percentage Breakdown of Dollar Biscuits and Other Bakery Products Independently Analyzed Sales for Bread/Rolls, Morning Goods, Cakes/Pastries, by Annual Sales for the years 2001 through 2010 in US$ Savory Biscuits, Sweet Biscuits and Other Bakery Million (includes corresponding Graph/Chart)...... III-41 Products for the years 1991, 1995, 2005 and 2010 Table 37: Japanese Historic Review for Bakery Products (includes corresponding Graph/Chart) ...... III-35 by Product Segment - Bread/Rolls, Morning Goods, Cakes/Pastries, Savory Biscuits, Sweet Biscuits and 2. Canada ...... III-36 Other Bakery Products Independently Analyzed by A. Market Analysis ...... III-36 Annual Sales for the years 1991 through 2000 in US$ Current and Future Analysis...... III-36 Million (includes corresponding Graph/Chart)...... III-41 Historic Review...... III-36 Table 38: Japanese 20-Year Perspective for Bakery Product Launches...... III-36 Products by Product Segment - Percentage Breakdown B. Market Analytics ...... III-37 of Dollar Sales for Bread/Rolls, Morning Goods, Cakes/ Pastries, Savory Biscuits, Sweet Biscuits and Other Bakery Table 31: Canadian Recent Past, Current & Future Products for the years 1991, 1995, 2005 and 2010 Analysis for Bakery Products by Product Segment - (includes corresponding Graph/Chart) ...... III-42 Bread/Rolls, Morning Goods, Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Other Bakery 4. Europe...... III-43 Products Independently Analyzed by Annual Sales for the years 2001 through 2010 in US$ Million A. Market Analysis ...... III-43 (includes corresponding Current and Future Analysis...... III-43 Graph/Chart) ...... III-37 Historic Review...... III-43

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BAKERY PRODUCTS MCP-2203 A GLOBAL STRATEGIC BUSINESS REPORT

CONTENTS Product Launches...... III-43 Table 46: French Historic Review for Bakery Products Recent Industry Activity ...... III-47 by Product Segment - Bread/Rolls, Morning Goods, B. Market Analytics ...... III-51 Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Other Bakery Products Independently Analyzed Table 39: European Recent Past, Current & Future by Annual Sales for the years 1991 through 2000 Analysis for Bakery Products by Geographic Region - in US$ Million (includes corresponding France, Germany, Italy, United Kingdom, Spain, Russia Graph/Chart)...... III-56 and Rest of Europe Markets Independently Analyzed by Annual Sales for the years 2001 through 2010 in US$ Table 47: French 20-Year Perspective for Bakery Million (includes corresponding Graph/Chart)...... III-51 Products by Product Segment - Percentage Breakdown of Dollar Sales for Bread/Rolls, Morning Goods, Table 40: European Recent Past, Current & Future Analysis Cakes/Pastries, Savory Biscuits, Sweet Biscuits for Bakery Products by Product Segment - Bread/Rolls, and Other Bakery Products for the years 1991, Morning Goods, Cakes/Pastries, Savory Biscuits, Sweet 1995, 2005 and 2010 (includes corresponding Biscuits and Other Bakery Products Independently Analyzed Graph/Chart)...... III-57 by Annual Sales for the years 2001 through 2010 in US$ Million (includes corresponding Graph/Chart)...... III-51 4b. Germany ...... III-58 Table 41: European Historic Review for Bakery Products A. Market Analysis ...... III-58 by Geographic Region - France, Germany, Italy, United Current and Future Analysis...... III-58 Kingdom, Spain, Russia and Rest of Europe Markets Bahlsen KG - A Key Player ...... III-58 Independently Analyzed by Annual Sales for the years 1991 through 2000 in US$ Million (includes Historic Review...... III-58 corresponding Graph/Chart)...... III-52 B. Market Analytics ...... III-59 Table 42: European Historic Review for Bakery Products Table 48: German Recent Past, Current & Future by Product Segment - Bread/Rolls, Morning Goods, Analysis for Bakery Products by Product Segment - Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Bread/Rolls, Morning Goods, Cakes/Pastries, Savory Other Bakery Products Independently Analyzed by Biscuits, Sweet Biscuits and Other Bakery Products Annual Sales for the years 1991 through 2000 in US$ Independently Analyzed by Annual Sales for the years Million (includes corresponding Graph/Chart)...... III-52 2001 through 2010 in US$ Million (includes corresponding Graph/Chart)...... III-59 Table 43: European 20-Year Perspective for Bakery Products by Geographic Region - Percentage Breakdown Table 49: German Historic Review for Bakery Products of Dollar Sales for France, Germany, Italy, United by Product Segment - Bread/Rolls, Morning Goods, Kingdom, Spain, Russia and Rest of Europe Markets Cakes/Pastries, Savory Biscuits, Sweet Biscuits and for the years 1991, 1995, 2005 and 2010 (includes Other Bakery Products Independently Analyzed by corresponding Graph/Chart)...... III-53 Annual Sales for the years 1991 through 2000 in Table 44: European 20-Year Perspective for Bakery US$ Million (includes corresponding Products by Product Segment - Percentage Breakdown of Graph/Chart)...... III-59 Dollar Sales for Bread/Rolls, Morning Goods, Cakes/ Table 50: German 20-Year Perspective for Bakery Pastries, Savory Biscuits, Sweet Biscuits and Other Bakery Products by Product Segment - Percentage Breakdown Products for the years 1991, 1995, 2005 and 2010 of Dollar Sales for Bread/Rolls, Morning Goods, (includes corresponding Graph/Chart) ...... III-53 Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Other Bakery Products for the years 1991, 4a. France ...... III-54 1995, 2005 and 2010 (includes corresponding A. Market Analysis ...... III-54 Graph/Chart)...... III-60 Bakery Industry in France - A Profile ...... III-54 Current and Future Analysis...... III-54 4c. Italy ...... III-61 Other Bakery Products in the French Market ...... III-54 A. Market Analysis ...... III-61 Groupe Danone - A Key Player...... III-55 Current and Future Analysis...... III-61 Historic Review...... III-55 Historic Review...... III-61 B. Market Analytics ...... III-56 B. Market Analytics ...... III-62 Table 45: French Recent Past, Current & Future Analysis Table 51: Italian Recent Past, Current & Future Analysis for Bakery Products by Product Segment - Bread/Rolls, for Bakery Products by Product Segment - Bread/Rolls, Morning Goods, Cakes/Pastries, Savory Biscuits, Sweet Morning Goods, Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Other Bakery Products Independently Biscuits and Other Bakery Products Independently Analyzed by Annual Sales for the years 2001 through Analyzed by Annual Sales for the years 2001 through 2010 in US$ Million (includes corresponding 2010 in US$ Million (includes corresponding Graph/Chart) ...... III-56 Graph/Chart)...... III-62

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CONTENTS Table 52: Italian Historic Review for Bakery Products by Table 59: Spanish 20-Year Perspective for Bakery Product Segment - Bread/Rolls, Morning Goods, Products by Product Segment - Percentage Breakdown Cakes/Pastries, Savory Biscuits, Sweet Biscuits and of Dollar Sales for Bread/Rolls, Morning Goods, Other Bakery Products Independently Analyzed by Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Annual Sales for the years 1991 through 2000 in US$ Other Bakery Products for the years 1991, 1995, Million (includes corresponding Graph/Chart)...... III-62 2005 and 2010 (includes corresponding Graph/Chart)...... III-68 Table 53: Italian 20-Year Perspective for Bakery Products by Product Segment - Percentage Breakdown of Dollar Sales for Bread/Rolls, Morning Goods, Cakes/Pastries, 4f. Russia...... III-69 Savory Biscuits, Sweet Biscuits and Other Bakery A. Market Analysis ...... III-69 Products for the years 1991, 1995, 2005 and 2010 Current and Future Analysis...... III-69 (includes corresponding Graph/Chart) ...... III-63 Historic Review...... III-69 B. Market Analytics ...... III-70 4d. The United Kingdom ...... III-64 A. Market Analysis ...... III-64 Table 60: Russian Recent Past, Current & Future Analysis Current and Future Analysis...... III-64 for Bakery Products by Product Segment - Bread/Rolls, Morning Goods, Cakes/Pastries, Savory Biscuits, Sweet Historic Review...... III-64 Biscuits and Other Bakery Products Independently B. Market Analytics ...... III-64 Analyzed by Annual Sales for the years 2001 Table 54: UK Recent Past, Current & Future Analysis through 2010 in US$ Million (includes for Bakery Products by Product Segment - Bread/Rolls, corresponding Graph/Chart)...... III-70 Morning Goods, Cakes/Pastries, Savory Biscuits, Sweet Table 61: Russian Historic Review for Bakery Products Biscuits and Other Bakery Products Independently Analyzed by Product Segment - Bread/Rolls, Morning Goods, by Annual Sales for the years 2001 through 2010 in US$ Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Million (includes corresponding Graph/Chart)...... III-64 Other Bakery Products Independently Analyzed by Table 55: UK Historic Review for Bakery Products Annual Sales for the years 1991 through 2000 in by Product Segment - Bread/Rolls, Morning Goods, US$ Million (includes corresponding Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Graph/Chart)...... III-70 Other Bakery Products Independently Analyzed by Table 62: Russian 20-Year Perspective for Bakery Products Annual Sales for the years 1991 through 2000 in US$ by Product Segment - Percentage Breakdown of Dollar Million (includes corresponding Graph/Chart)...... III-65 Sales for Bread/Rolls, Morning Goods, Cakes/Pastries, Table 56: UK 20-Year Perspective for Bakery Products Savory Biscuits, Sweet Biscuits and Other Bakery by Product Segment - Percentage Breakdown of Dollar Products for the years 1991, 1995, 2005 and 2010 Sales for Bread/Rolls, Morning Goods, Cakes/Pastries, (includes corresponding Graph/Chart) ...... III-71 Savory Biscuits, Sweet Biscuits and Other Bakery Products for the years 1991, 1995, 2005 and 2010 4g. Rest of Europe...... III-72 (includes corresponding Graph/Chart) ...... III-65 A. Market Analysis ...... III-72 4e. Spain...... III-66 Current and Future Analysis...... III-72 Chipita International S.A. - A Key Player ...... III-72 A. Market Analysis ...... III-66 Historic Review...... III-72 Current and Future Analysis...... III-66 B. Market Analytics ...... III-73 Historic Review...... III-66 B. Market Analytics ...... III-67 Table 63: Rest of Europe Recent Past, Current & Future Table 57: Spanish Recent Past, Current & Future Analysis Analysis for Bakery Products by Product Segment - for Bakery Products by Product Segment - Bread/Rolls, Bread/Rolls, Morning Goods, Cakes/Pastries, Savory Morning Goods, Cakes/Pastries, Savory Biscuits, Biscuits, Sweet Biscuits and Other Bakery Products Sweet Biscuits and Other Bakery Products Independently Analyzed by Annual Sales for the years Independently Analyzed by Annual Sales for the years 2001 through 2010 in US$ Million (includes 2001 through 2010 in US$ Million (includes corresponding Graph/Chart)...... III-73 corresponding Graph/Chart)...... III-67 Table 64: Rest of Europe Historic Review for Bakery Table 58: Spanish Historic Review for Bakery Products Products by Product Segment - Bread/Rolls, Morning by Product Segment - Bread/Rolls, Morning Goods, Cakes/ Goods, Cakes/Pastries, Savory Biscuits, Sweet Biscuits Pastries, Savory Biscuits, Sweet Biscuits and Other Bakery and Other Bakery Products Independently Analyzed Products Independently Analyzed by Annual Sales for the by Annual Sales for the years 1991 through 2000 years 1991 through 2000 in US$ Million (includes in US$ Million (includes corresponding corresponding Graph/Chart)...... III-67 Graph/Chart)...... III-73

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CONTENTS

Table 65: Rest of Europe 20-Year Perspective for Bakery Historic Review...... III-80 Products by Product Segment - Percentage Breakdown Australian Bakery Products Market - An Overview .... III-80 of Dollar Sales for Bread/Rolls, Morning Goods, Cakes/ George Weston Foods - A Key Player...... III-80 Pastries, Savory Biscuits, Sweet Biscuits and Other Bakery B. Market Analytics ...... III-81 Products for the years 1991, 1995, 2005 and 2010 (includes corresponding Graph/Chart) ...... III-74 Table 72: Australian Recent Past, Current & Future Analysis for Bakery Products by Product Segment - 5. Asia-Pacific ...... III-75 Bread/Rolls, Morning Goods, Cakes/Pastries, Savory A. Market Analysis ...... III-75 Biscuits, Sweet Biscuits and Other Bakery Products Independently Analyzed by Annual Sales for the years Current and Future Analysis...... III-75 2001 through 2010 in US$ Million (includes Historic Review...... III-75 corresponding Graph/Chart)...... III-81 Product Launches...... III-75 Recent Industry Activity ...... III-76 Table 73: Australian Historic Review for Bakery Products B. Market Analytics ...... III-77 by Product Segment - Bread/Rolls, Morning Goods, Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Table 66: Asia-Pacific Recent Past, Current & Future Other Bakery Products Independently Analyzed by Analysis for Bakery Products by Geographic Region - Annual Sales for the years 1991 through 2000 in US$ Australia, China, India, South Korea and Rest of Asia- Million (includes corresponding Graph/Chart)...... III-81 Pacific Markets Independently Analyzed by Annual Sales for the years 2001 through 2010 in US$ Table 74: Australian 20-Year Perspective for Bakery Million (includes corresponding Graph/Chart)...... III-77 Products by Product Segment - Percentage Breakdown of Dollar Sales for Bread/Rolls, Morning Goods, Cakes/ Table 67: Asia-Pacific Recent Past, Current & Future Pastries, Savory Biscuits, Sweet Biscuits and Other Bakery Analysis for Bakery Products by Product Segment - Products for the years 1991, 1995, 2005 and 2010 Bread/Rolls, Morning Goods, Cakes/Pastries, Savory (includes corresponding Graph/Chart) ...... III-82 Biscuits, Sweet Biscuits and Other Bakery Products Independently Analyzed by Annual Sales for the years 5b. China...... III-83 2001 through 2010 in US$ Million (includes corresponding Graph/Chart)...... III-77 A. Market Analysis ...... III-83 Current and Future Analysis...... III-83 Table 68: Asia-Pacific Historic Review for Bakery Products Historic Review...... III-83 by Geographic Region - Australia, China, India, South Chinese Bakery Products Market - An Overview...... III-83 Korea and Rest of Asia-Pacific Markets Independently Hong Kong...... III-83 Analyzed by Annual Sales for the years 1991 through 2000 in US$ Million (includes corresponding B. Market Analytics ...... III-84 Graph/Chart) ...... III-78 Table 75: Chinese Recent Past, Current & Future Analysis Table 69: Asia-Pacific Historic Review for Bakery for Bakery Products by Product Segment - Bread/Rolls, Products by Product Segment - Bread/Rolls, Morning Morning Goods, Cakes/Pastries, Savory Biscuits, Sweet Goods, Cakes/Pastries, Savory Biscuits, Sweet Biscuits Biscuits and Other Bakery Products Independently Analyzed and Other Bakery Products Independently Analyzed by by Annual Sales for the years 2001 through 2010 in US$ Annual Sales for the years 1991 through 2000 in US$ Million (includes corresponding Graph/Chart)...... III-84 Million (includes corresponding Graph/Chart)...... III-78 Table 76: Chinese Historic Review for Bakery Products Table 70: Asia-Pacific 20-Year Perspective for Bakery by Product Segment - Bread/Rolls, Morning Goods, Products by Geographic Region - Percentage Breakdown Cakes/Pastries, Savory Biscuits, Sweet Biscuits and of Dollar Sales for Australia, China, India, South Other Bakery Products Independently Analyzed by Korea and Rest of Asia-Pacific Markets for the years Annual Sales for the years 1991 through 2000 in US$ 1991, 1995, 2005 and 2010 (includes Million (includes corresponding Graph/Chart)...... III-84 corresponding Graph/Chart)...... III-79 Table 77: Chinese 20-Year Perspective for Bakery Table 71: Asia-Pacific 20-Year Perspective for Bakery Products by Product Segment - Percentage Breakdown Products by Product Segment - Percentage Breakdown of Dollar Sales for Bread/Rolls, Morning Goods, of Dollar Sales for Bread/Rolls, Morning Goods, Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Other Bakery Products for the years 1991, 1995, Other Bakery Products for the years 1991, 1995, 2005 and 2010 (includes corresponding 2005 And 2010 (includes corresponding Graph/Chart)...... III-85 Graph/Chart) ...... III-79 5c. India ...... III-86 5a. Australia ...... III-80 A. Market Analysis ...... III-86 A. Market Analysis ...... III-80 Current and Future Analysis...... III-86 Current and Future Analysis...... III-80 Historic Review...... III-86

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BAKERY PRODUCTS MCP-2203 A GLOBAL STRATEGIC BUSINESS REPORT

CONTENTS Indian Bakery Products Market - An Overview ...... III-86 Historic Review...... III-92 Key Players ...... III-86 Malaysian Bakery Products Market - An Overview .... III-92 Britannia Industries...... III-87 Philippine Bakery Products Market - An Overview .... III-92 Parle Products Ltd...... III-87 B. Market Analytics ...... III-93 B. Market Analytics ...... III-87 Table 84: Rest of Asia-Pacific Recent Past, Current & Future Table 78: Indian Recent Past, Current & Future Analysis Analysis for Bakery Products by Product Segment - Bread/ for Bakery Products by Product Segment - Bread/Rolls, Rolls, Morning Goods, Cakes/Pastries, Savory Biscuits, Sweet Morning Goods, Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Other Bakery Products Independently Analyzed Biscuits and Other Bakery Products Independently by Annual Sales for the years 2001 through 2010 in US$ Analyzed by Annual Sales for the years 2001 through Million (includes corresponding Graph/Chart) ...... III-93 2010 in US$ Million (includes corresponding Graph/Chart) ...... III-87 Table 85: Rest of Asia-Pacific Historic Review for Bakery Products by Product Segment - Bread/Rolls, Table 79: Indian Historic Review for Bakery Products Morning Goods, Cakes/Pastries, Savory Biscuits, by Product Segment - Bread/Rolls, Morning Goods, Sweet Biscuits and Other Bakery Products Independently Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Analyzed by Annual Sales for the years 1991 through Other Bakery Products Independently Analyzed by 2000 in US$ Million (includes corresponding Annual Sales for the years 1991 through 2000 in US$ Graph/Chart)...... III-93 Million (includes corresponding Graph/Chart)...... III-88 Table 86: Rest of Asia-Pacific 20-Year Perspective for Table 80: Indian 20-Year Perspective for Bakery Products Bakery Products by Product Segment - Percentage by Product Segment - Percentage Breakdown of Dollar Breakdown of Dollar Sales for Bread/Rolls, Morning Goods, Sales for Bread/Rolls, Morning Goods, Cakes/Pastries, Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Other Savory Biscuits, Sweet Biscuits and Other Bakery Bakery Products for the years 1991, 1995, 2005 and 2010 Products for the years 1991, 1995, 2005 and 2010 (includes corresponding Graph/Chart) ...... III-94 (includes corresponding Graph/Chart) ...... III-88 6. Latin America...... III-95 5d. South Korea...... III-89 A. Market Analysis ...... III-95 A. Market Analysis ...... III-89 Historic Review...... III-95 Current and Future Analysis...... III-89 Product Launch ...... III-95 Historic Review...... III-89 Recent Industry Activity...... III-95 South Korean Bakery Products Market - B. Market Analytics ...... III-97 An Overview ...... III-89 B. Market Analytics ...... III-90 Table 87: Latin American Recent Past, Current & Future Analysis for Bakery Products by Geographic Region - Table 81: South Korean Recent Past, Current & Future Argentina, Brazil, Chile, Colombia, Mexico and Rest of Analysis for Bakery Products by Product Segment - Latin America Markets Independently Analyzed by Annual Bread/Rolls, Morning Goods, Cakes/Pastries, Savory Sales for the years 2001 through 2010 in US$ Million Biscuits, Sweet Biscuits and Other Bakery Products (includes corresponding Graph/Chart) ...... III-97 Independently Analyzed by Annual Sales for the years 2001 through 2010 in US$ Million (includes Table 88: Latin American Recent Past, Current & Future corresponding Graph/Chart)...... III-90 Analysis for Bakery Products by Product Segment - Bread/Rolls, Morning Goods, Cakes/Pastries, Savory Table 82: South Korean Historic Review for Bakery Products Biscuits, Sweet Biscuits and Other Bakery Products by Product Segment - Bread/Rolls, Morning Goods, Cakes/ Independently Analyzed by Annual Sales for the years Pastries, Savory Biscuits, Sweet Biscuits and Other Bakery 2001 through 2010 in US$ Million (includes Products Independently Analyzed by Annual Sales for the corresponding Graph/Chart)...... III-97 years 1991 through 2000 in US$ Million (includes corresponding Graph/Chart)...... III-90 Table 89: Latin American Historic Review for Bakery Products by Geographic Region - Argentina, Brazil, Chile, Table 83: South Korean 20-Year Perspective for Bakery Colombia, Mexico and Rest of Latin America Markets Products by Product Segment - Percentage Breakdown Independently Analyzed by Annual Sales for the years of Dollar Sales for Bread/Rolls, Morning Goods, Cakes/ 1991 through 2000 in US$ Million (includes Pastries, Savory Biscuits, Sweet Biscuits and Other Bakery corresponding Graph/Chart)...... III-98 Products for the years 1991, 1995, 2005 and 2010 (includes corresponding Graph/Chart) ...... III-91 Table 90: Latin American Historic Review for Bakery Products by Product Segment - Bread/Rolls, Morning 5e. Rest of Asia-Pacific ...... III-92 Goods, Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Other Bakery Products Independently Analyzed by Annual A. Market Analysis ...... III-92 Sales for the years 1991 through 2000 in US$ Million Current and Future Analysis...... III-92 (includes corresponding Graph/Chart) ...... III-98

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CONTENTS Table 91: Latin American 20-Year Perspective for Bakery Table 97: Brazilian Historic Review for Bakery Products Products by Geographic Region - Percentage Breakdown by Product Segment - Bread/Rolls, Morning Goods, Cakes/ of Dollar Sales for Argentina, Brazil, Chile, Colombia, Pastries, Savory Biscuits, Sweet Biscuits and Other Bakery Mexico and Rest of Latin America Markets for the years Products Independently Analyzed by Annual Sales for the 1991, 1995, 2005 and 2010 (includes corresponding years 1991 through 2000 in US$ Million (includes Graph/Chart) ...... III-99 corresponding Graph/Chart)...... III-104 Table 92: Latin American 20-Year Perspective for Bakery Table 98: Brazilian 20-Year Perspective for Bakery Products by Product Segment - Percentage Breakdown Products by Product Segment - Percentage Breakdown of of Dollar Sales for Bread/Rolls, Morning Goods, Dollar Sales for Bread/Rolls, Morning Goods, Cakes/ Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Pastries, Savory Biscuits, Sweet Biscuits and Other Bakery Other Bakery Products for the years 1991, 1995, Products for the years 1991, 1995, 2005 and 2010 2005 and 2010 (includes corresponding (includes corresponding Graph/Chart) ...... III-105 Graph/Chart) ...... III-99 6c. Chile ...... III-106 6a. Argentina ...... III-100 A. Market Analysis ...... III-106 A. Market Analysis ...... III-100 Current and Future Analysis...... III-106 Current and Future Analysis...... III-100 Historic Review...... III-106 Historic Review...... III-100 Chilean Bakery Products Market - An Overview ...... III-106 Argentine Bakery Products Market - Nestle Chile - A Key Player ...... III-106 An Overview ...... III-100 B. Market Analytics ...... III-107 B. Market Analytics ...... III-101 Table 99: Chilean Recent Past, Current & Future Analysis Table 93: Argentine Recent Past, Current & Future for Bakery Products by Product Segment - Bread/Rolls, Analysis for Bakery Products by Product Segment - Morning Goods, Cakes/Pastries, Savory Biscuits, Sweet Bread/Rolls, Morning Goods, Cakes/Pastries, Savory Biscuits and Other Bakery Products Independently Biscuits, Sweet Biscuits and Other Bakery Products Analyzed by Annual Sales for the years 2001 through Independently Analyzed by Annual Sales for the years 2010 in US$ Million (includes corresponding 2001 through 2010 in US$ Million (includes Graph/Chart)...... III-107 corresponding Graph/Chart)...... III-101 Table 100: Chilean Historic Review for Bakery Products Table 94: Argentine Historic Review for Bakery Products by Product Segment - Bread/Rolls, Morning Goods, by Product Segment - Bread/Rolls, Morning Goods, Cakes/ Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Pastries, Savory Biscuits, Sweet Biscuits and Other Bakery Other Bakery Products Independently Analyzed by Products Independently Analyzed by Annual Sales for the Annual Sales for the years 1991 through 2000 in US$ years 1991 through 2000 in US$ Million (includes Million (includes corresponding Graph/Chart)...... III-107 corresponding Graph/Chart)...... III-101 Table 101: Chilean 20-Year Perspective for Bakery Table 95: Argentine 20-Year Perspective for Bakery Products Products by Product Segment - Percentage Breakdown by Product Segment - Percentage Breakdown of Dollar of Dollar Sales for Bread/Rolls, Morning Goods, Sales for Bread/Rolls, Morning Goods, Cakes/ Pastries, Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Savory Biscuits, Sweet Biscuits and Other Bakery Other Bakery Products for the years 1991, 1995, Products for the years 1991, 1995, 2005 and 2010 2005 and 2010 (includes corresponding (includes corresponding Graph/Chart) ...... III-102 Graph/Chart)...... III-108

6b. Brazil...... III-103 6d. Colombia...... III-109 A. Market Analysis ...... III-103 A. Market Analysis ...... III-109 Current and Future Analysis...... III-103 Current and Future Analysis...... III-109 Historic Review...... III-103 Historic Review...... III-109 Brazilian Bakery Products Market - Colombian Bakery Products Market - An Overview...... III-103 An Overview...... III-109 B. Market Analytics ...... III-104 B. Market Analytics ...... III-110 Table 96: Brazilian Recent Past, Current & Future Table 102: Colombian Recent Past, Current & Future Analysis for Bakery Products by Product Segment - Analysis for Bakery Products by Product Segment - Bread/Rolls, Morning Goods, Cakes/Pastries, Savory Bread/Rolls, Morning Goods, Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Other Bakery Products Biscuits, Sweet Biscuits and Other Bakery Products Independently Analyzed by Annual Sales for the years Independently Analyzed by Annual Sales for the years 2001 through 2010 in US$ Million (includes 2001 through 2010 in US$ Million (includes corresponding Graph/Chart)...... III-104 corresponding Graph/Chart)...... III-110

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CONTENTS Table 103: Colombian Historic Review for Bakery Products B. Market Analytics ...... III-116 by Product Segment - Bread/Rolls, Morning Goods, Table 108: Rest of Latin America Recent Past, Current & Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Future Analysis for Bakery Products by Product Segment - Other Bakery Products Independently Analyzed by Bread/Rolls, Morning Goods, Cakes/Pastries, Savory Annual Sales for the years 1991 through 2000 in US$ Biscuits, Sweet Biscuits and Other Bakery Products Million (includes corresponding Graph/Chart)...... III-110 Independently Analyzed by Annual Sales for the years Table 104: Colombian 20-Year Perspective for Bakery 2001 through 2010 in US$ Million (includes Products by Product Segment - Percentage Breakdown corresponding Graph/Chart)...... III-116 of Dollar Sales for Bread/Rolls, Morning Goods, Table 109: Rest of Latin America Historic Review for Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Bakery Products by Product Segment - Bread/Rolls, Other Bakery Products for the years 1991, 1995, Morning Goods, Cakes/Pastries, Savory Biscuits, Sweet 2005 and 2010 (includes corresponding Biscuits and Other Bakery Products Independently Graph/Chart) ...... III-111 Analyzed by Annual Sales for the years 1991 through 2000 in US$ Million (includes corresponding 6e. Mexico...... III-112 Graph/Chart)...... III-116 A. Market Analysis ...... III-112 Table 110: Rest of Latin America 20-Year Perspective Current and Future Analysis...... III-112 for Bakery Products by Product Segment - Percentage Historic Review...... III-112 Breakdown of Dollar Sales for Bread/Rolls, Morning Goods, Mexican Bakery Products Market - An Overview...... III-112 Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Other Grupo Industrial Bimbo - A Key Player...... III-112 Bakery Products for the years 1991, 1995, 2005 and B. Market Analytics ...... III-113 2010 (includes corresponding Graph/Chart)...... III-117 Table 105: Mexican Recent Past, Current & Future Analysis for Bakery Products by Product Segment - 7. Rest of World...... III-118 Bread/Rolls, Morning Goods, Cakes/Pastries, Savory A. Market Analysis ...... III-118 Biscuits, Sweet Biscuits and Other Bakery Products Current and Future Analysis...... III-118 Independently Analyzed by Annual Sales for the years Historic Review...... III-118 2001 through 2010 in US$ Million (includes B. Market Analytics ...... III-118 corresponding Graph/Chart)...... III-113 Table 111: Rest of World Recent Past, Current & Future Table 106: Mexican Historic Review for Bakery Products Analysis for Bakery Products by Product Segment - by Product Segment - Bread/Rolls, Morning Goods, Bread/Rolls, Morning Goods, Cakes/Pastries, Savory Cakes/Pastries, Savory Biscuits, Sweet Biscuits and Biscuits, Sweet Biscuits and Other Bakery Products Other Bakery Products Independently Analyzed by Independently Analyzed by Annual Sales for the years Annual Sales for the years 1991 through 2000 in US$ 2001 through 2010 in US$ Million (includes Million (includes corresponding Graph/Chart)...... III-113 corresponding Graph/Chart)...... III-118 Table 107: Mexican 20-Year Perspective for Bakery Table 112: Rest of World Historic Review for Bakery Products by Product Segment - Percentage Breakdown Products by Product Segment - Bread/Rolls, Morning of Dollar Sales for Bread/Rolls, Morning Goods, Goods, Cakes/Pastries, Savory Biscuits, Sweet Biscuits Cakes/Pastries, Savory Biscuits, Sweet Biscuits and and Other Bakery Products Independently Analyzed by Other Bakery Products for the years 1991, 1995, Annual Sales for the years 1991 through 2000 in US$ 2005 and 2010 (includes corresponding Million (includes corresponding Graph/Chart)...... III-119 Graph/Chart) ...... III-114 Table 113: Rest of World 20-Year Perspective for Bakery 6f. Rest of Latin America...... III-115 Products by Product Segment - Percentage Breakdown of Dollar Sales for Bread/Rolls, Morning Goods, Cakes/ A. Market Analysis ...... III-115 Pastries, Savory Biscuits, Sweet Biscuits and Other Bakery Current and Future Analysis...... III-115 Products for the years 1991, 1995, 2005 and 2010 Historic Review...... III-115 (includes corresponding Graph/Chart) ...... III-119

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CONTENTS

IV. COMPETITION

1. 7-Eleven, Inc. (USA) ...... IV-1 Table 122: Quarterly Sales Analysis: 2003-2004 2. A.P.A. Antica Pasticceria Artigianale Srl (Italy)...... IV-4 (In Can$ billion) ...... IV-32 3. ABE'S Real Bagels Ltd. (New Zealand) ...... IV-4 Table 123: Annual Sales Analysis by Segment: 4. ABR Holdings Limited (Singapore)...... IV-5 2004-2003 (In Can$ billion)...... IV-32 5. Aerzener Brot H + H Schweckendiek GmbH (Germany) ...... IV-5 Ryvita Co., Ltd. (UK) ...... IV-33 6. AFC Enterprises, Inc. (USA) ...... IV-6 32. Athinaikon Ltd. (Greece) ...... IV-34 7. Agrifreda SA (Greece)...... IV-7 33. Au Croquant Boulangerie Patisserie NV (Belgium)...... IV-35 8. Aiassa Marino Il Buon Rubata' Sas (Italy)...... IV-7 34. Augusta Panettoni Srl (Italy)...... IV-35 9. Al Forno Snc (Italy)...... IV-8 35. Auntie Anne's, Inc. (USA) ...... IV-35 10. Albatros SA (France) ...... IV-8 36. Aurora Foods, Inc. (USA)...... IV-36 11. Albert Van Zoonen BV (The Netherlands) ...... IV-8 37. Australian Bakels Pty., Ltd. (Australia)...... IV-39 12. Alda By Provenzano Srl (Italy)...... IV-9 38. Axo OY AB (Finland)...... IV-41 13. Alifor Pieri Srl (Italy)...... IV-9 39. B&G Foods, Inc. (USA)...... IV-42 14. Alimentare Londi Srl (Italy)...... IV-10 40. BAB, Inc. (USA)...... IV-46 15. Allied Foods Co., Limited (New Zealand)...... IV-10 Table 124: Nine Months Sales Analysis: 2004-2005 16. Alpha Baking Co. (USA)...... IV-11 (Nine Months Ended, August) (In US$ million)...... IV-46 17. Altria Group, Inc. (USA) ...... IV-13 Table 125: Annual Sales Analysis: 2003-2004 Kraft Foods, Inc. (USA) ...... IV-16 (In US$ million) ...... IV-46 Table 114: Nine Months Sales Analysis: 2004-2005 Table 126: Annual Sales Analysis by Division: (Nine Months Ended, September) (In US$ million)...... IV-17 2003-2004 (In US$ million) ...... IV-46 Table 115: Nine Months Sales Analysis: 2004-2005 41. Backerei Kuster GmbH (Germany)...... IV-48 (Nine Months Ended, September) In US$ million) ...... IV-17 42. Backerei Westbomke GmbH (Germany)...... IV-48 Table 116: Annual Sales Analysis: 2003-2004 43. Backerei Srl (Italy)...... IV-49 (In US$ million) ...... IV-17 44. Backerei-Konditorei W. Fork GmbH (Germany)...... IV-49 Table 117: Annual Sales Analysis by Segment: 45. Backerhaus Veit GmbH (Germany) ...... IV-49 2003-2004 (In US$ million) ...... IV-17 46. Backhaus Klein GmbH (Germany) ...... IV-50 Kraft Foods Limited (Australia) ...... IV-19 47. Backhus Brot und Backwaren GmbH & Co., KG (Germany) ..... IV-51 18. Amaretti Virginia Srl (Italy)...... IV-20 48. Backparadies Leefen KG (Germany) ...... IV-51 19. Anderson's Bakery, Inc. (USA)...... IV-21 49. Bahlsen GmbH & Co., KG (Germany) ...... IV-52 20. Andre-Boudin Bakeries, Inc. (USA) ...... IV-22 Table 127: Annual Sales Analysis: 2003-2004 21. Angel Garro SA (Spain)...... IV-23 (In € million) ...... IV-52 22. Annas Pepparkakor AB (Sweden)...... IV-23 50. Bahlsen Saint Michel Sarl (France)...... IV-52 23. Anthi SA (Greece) ...... IV-24 51. Bakehouse Ltd. (UK) ...... IV-53 24. Anton Hosselmann KG (Germany)...... IV-24 52. Bakehuset Norge AS (Norway)...... IV-54 25. Antonio Cervantes SL (Spain) ...... IV-25 53. Bakers Delight Holdings Ltd. (Australia)...... IV-55 26. Apollonion SA (Greece) ...... IV-25 54. Bakewell Foods Pty., Ltd. (Australia)...... IV-56 27. APV Baker (UK) ...... IV-26 55. Bakkerij Jorritsma BV (The Netherlands)...... IV-56 28. Ark's Bakkerijen BV (The Netherlands) ...... IV-27 56. Bakkerij Veenhuis BV (The Netherlands)...... IV-56 29. Arthur Brunt International Foods Co., Pty., Ltd. (Australia)..... IV-27 57. Bakker's Banket BV (The Netherlands) ...... IV-57 30. Askondi OY (Finland) ...... IV-27 58. Balconi Industria Dolciaria SpA (Italy)...... IV-57 31. Associated British Foods PLC (UK)...... IV-28 59. Balfour Wauchope Pty., Ltd. (Australia)...... IV-58 Table 118: Annual Sales Analysis: 2003–2004 60. Balocco SpA (Italy) ...... IV-58 (In € million)...... IV-29 61. Bama Foods Ltd. (USA) ...... IV-59 Table 119: Annual Sales Analysis By Segment: 62. Banketbakkerij Mariman NV (Belgium)...... IV-59 2003-2004 (In € million)...... IV-29 63. Banketbakkerij Merba BV (The Netherlands)...... IV-60 George Weston Bakeries, Inc. (USA) ...... IV-31 64. Banketbakkerij Nora BV (The Netherlands) ...... IV-60 George Weston Foods Limited (Australia) ...... IV-31 65. Banketbakkerij Vanderheul Assen BV (The Netherlands) .... IV-61 Table 120: Half Yearly Sales Analysis: 2004-2005 (H1) 66. Banketfabriek Het Sluisje BV (The Netherlands)...... IV-61 (In Can$ billion) ...... IV-32 67. Barbarossa Backerei GmbH (Germany)...... IV-61 Table 121: Annual Sales Analysis: 2003-2004 68. Barbarossa Srl (Italy) ...... IV-62 (In Can$ billion) ...... IV-32 69. Barbero I Barbero Rag Alberto E C, Snc (Italy)...... IV-62

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CONTENTS

70. Barenys Canaldas SL (Spain)...... IV-62 113. Bridgford Food Corporation (USA) ...... IV-97 71. Barilla G & R Fratelli SpA (Italy)...... IV-63 114. Bridor (UK) Ltd. (UK)...... IV-99 Kamps AG (Germany)...... IV-63 115. Briere SA (France)...... IV-99 Dan Cake (Portugal) SA (Portugal) ...... IV-64 116. Briodor Snc (Italy) ...... IV-100 Dan Cake A/S (Denmark)...... IV-64 117. Bri-Tal (Foods) Ltd. (UK)...... IV-100 Quality Bakers Nederland BV (The Netherlands)...... IV-64 118. Britannia Industries Limited (India)...... IV-101 72. Barry Callebaut Schweiz AG (Switzerland)...... IV-66 Table 131: Annual Sales Analysis: 2003-2004 73. Bauli SpA (Italy)...... IV-67 (In INR million)...... IV-101 74. Beechgrove Country Foods, Inc. (Canada) ...... IV-68 119. Brollo Arnaldo e Federico Snc (Italy) ...... IV-102 75. Bell Bakers Ltd. (UK)...... IV-68 120. Brood- en Banketbakkerij H van der Breggen BV 76. Bellsola SA (Spain)...... IV-69 (The Netherlands) ...... IV-102 77. Beniamino Srl (Italy) ...... IV-70 121. Brooke Holdings (SI) Ltd. (New Zealand)...... IV-103 78. Bergmans Pepparkakor AB (Sweden)...... IV-70 122. Brossard France SA (France) ...... IV-103 79. Biancini Alimentari Srl (Italy) ...... IV-70 123. Bruegger's Bagel (USA)...... IV-104 80. Biebelhausener Muhle Gebr Jacoby GmbH & Co. 124. Brusa Sas (Italy)...... IV-105 (Germany)...... IV-71 125. Buhler Group (Switzerland)...... IV-106 81. Biolandia Srl (Italy) ...... IV-72 Table 132 : Annual Sales Analysis: 2003-2004 82. Birds Eye Foods (USA) ...... IV-73 (In CHF million) ...... IV-107 Table 128: Annual Sales Analysis: 2003-2005 126. Bumuller-Brot GmbH (Germany) ...... IV-109 (In US$ million) ...... IV-74 127. Buon Pan Srl (Italy) ...... IV-109 Table 129: Annual Sales Analysis By Business 128. Burgerville USA (USA)...... IV-110 Segment: 2004-2005 (In US$ million)...... IV-75 129. Buschese SpA (Italy)...... IV-111 Table 130: Annual Sales Analysis By Business 130. C & M Antoniou Pty., Ltd (Australia)...... IV-112 Segment: 2003-2004 (In US$ million)...... IV-75 131. Cabrini Forno Snc (Italy) ...... IV-112 83. Biscottificio Belli Srl (Italy)...... IV-79 132. Cadbury Schweppes PLC (UK) ...... IV-113 84. Biscottificio Piemonte Snc (Italy) ...... IV-80 85. Biscottificio Regina Sas (Italy) ...... IV-80 Table 133: Half Yearly Sales Analysis: 2004-2005 (H1) (In £ million)...... IV-114 86. Biscuiterie Le Ster Sas (France)...... IV-81 87. Biscuits Fossier SA (France)...... IV-81 Table 134: Half Yearly Sales Analysis by Business 88. Biscuits Leclerc Ltd. (Canada)...... IV-82 Segment: 2004-2005 (H1) (In £ million) ...... IV-114 89. Bluri Srl (Italy) ...... IV-83 Table 135: Annual Sales Analysis: 2003-2004 90. Bochotis SA (Greece) ...... IV-84 (In £ million) ...... IV-115 91. Boiertz Conditori i Hvvr AB (Sweden)...... IV-84 Table 136: Annual Sales Analysis by Business 92. Bon Pan Srl (Italy) ...... IV-84 Segment: 2003-2004 (In £ million)...... IV-115 93. Bonifanti Srl (Italy)...... IV-85 Cadbury Trebor Bassett (UK) ...... IV-117 94. Bonito SA (Greece)...... IV-87 133. Campbell Soup Company (USA) ...... IV-118 95. Bonomi SpA (Italy)...... IV-87 Table 137: Annual Sales Analysis: 2003-2005 96. Bonpa SA (Spain)...... IV-87 (In US$ million) ...... IV-119 97. Bonta' Ciociare Srl (Italy) ...... IV-88 Table 138: Annual Sales Analysis by Business 98. Borden Foods Canada Corporation (Canada)...... IV-88 Segment: 2004-2005 (In US$ million)...... IV-120 99. Borgcraft Pty., Ltd. (Australia) ...... IV-89 Table 139: Annual Sales Analysis by Geographic 100. Bories Girard Et Fils Sarl (France)...... IV-90 Region: 2004-2005 (In US$ million)...... IV-120 101. Bormuth GmbH (Germany) ...... IV-91 Table 140: Quarter Sales Analysis: 2004-2005 102. Bottega Del Pane Snc (Italy)...... IV-92 (In US$ million) ...... IV-120 103. Boulangerie Ancienne Osmont (France) ...... IV-92 104. Boulangerie Covelli SA (France)...... IV-93 Table 141: Annual Sales Analysis by Business Segment: 2003-2004 (In US$ million)...... IV-120 105. Boulangerie Patisserie Febre SA (France)...... IV-93 106. Boulangerie Rosseels SA (Belgium)...... IV-94 Table 142: Annual Sales Analysis by Geographic 107. Boulangerie-Patisserie Sturm Sarl (France) ...... IV-94 Region: 2003-2004 (In US$ million)...... IV-121 108. Bourbon Corporation (Japan)...... IV-95 Table 143: Quarterly Sales Analysis: 2003-2004 109. Bread Ltd. (UK)...... IV-95 (In US$ million) ...... IV-121 110. Breadcraft (Wairarapa) Ltd. (New Zealand) ...... IV-95 Pepperidge Farm, Inc. (USA)...... IV-122 111. Breadwinner (Aust) Pty., Ltd. (Australia)...... IV-96 134. Canada Bread Company Limited (Canada)...... IV-123 112. Brianza Pan Sas (Italy)...... IV-96 Grace Baking (USA)...... IV-124

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CONTENTS

135. Canterbury Foods Limited (UK)...... IV-125 177. D.P.K Co., Ltd. (Korea) ...... IV-157 136. Carrabba's Italian Grill (USA) ...... IV-125 178. D.S Milka SA (Greece)...... IV-157 137. Carrs Pasties Ltd. (UK)...... IV-126 179. D'Addezio Snc (Italy)...... IV-157 138. Carvel Corporation (USA) ...... IV-127 180. Dahli-Kuchen Franz Dahlhoff GmbH and Co., KG 139. Casa Del Tramezzino Srl (Italy)...... IV-128 (Germany)...... IV-158 140. CBRL Group, Inc. (USA) ...... IV-129 181. Dahls Bakeshop AB (Sweden)...... IV-158 141. Centralpane Firenze Srl (Italy)...... IV-129 182. Dailidoce Produtos Alimentares Lda (Portugal)...... IV-158 142. Cepalor SA (France) ...... IV-130 183. Dairy Fresh Foods Ltd. (UK) ...... IV-159 143. Cerbiatto Due Srl (Italy) ...... IV-130 184. Daloon A/S (Denmark) ...... IV-159 144. Cerealia AB (Sweden) ...... IV-131 185. Danisco A/S (Denmark)...... IV-160 145. Ceylon Agro-Industries Limited (Sri Lanka) ...... IV-134 Table 149: Annual Sales Analysis: 2003–2005 146. Champion Flourmills (New Zealand)...... IV-134 (In DKK million)...... IV-162 147. Charpalor SA (France)...... IV-135 Table 150: Annual Sales Analysis By Geographical 148. Chaucer Foods Ltd. (UK)...... IV-135 Region: 2004–2005 (In DKK million)...... IV-162 149. Chef America, Inc. (USA) ...... IV-136 186. Danish Specialities Ltd. (UK) ...... IV-163 150. Cherry Hill Cakes and Pastries (Philippines) ...... IV-136 187. Danska Wienerbageriet AB (Sweden)...... IV-164 151. Chipita International SA (Europe) ...... IV-137 188. Daoli Sas (Italy) ...... IV-164 Table 144: Annual Sales Analysis: 2003-2004 189. Dassios SA (Greece) ...... IV-165 (In € million)...... IV-137 190. Dauner Landbrotbdckerei Theo Engelberth GmbH 152. Cibus SA (Greece) ...... IV-138 and Co., KG (Germany) ...... IV-165 153. Cityback Werner Feldkamp GmbH (Germany) ...... IV-138 191. Dawn Food Products, Inc. (USA)...... IV-166 154. Clarke's Pies Pty., Ltd. (Australia)...... IV-138 Dawn Foods Ltd. (UK) ...... IV-167 155. Classic Cakes Ltd. (UK) ...... IV-139 192. De Graaf's Bakkerijen BV (The Netherlands)...... IV-168 156. Cleca SpA (Italy) ...... IV-140 193. De Molen's Banket BV (The Netherlands)...... IV-168 157. Cocolat Wicked Desserts Pty., Ltd. (Australia)...... IV-141 194. De Reze Biscuit-Chocolate BVBA (Belgium) ...... IV-169 158. Codan SA (Spain)...... IV-141 195. De Vreese-Van Loo NV (Belgium)...... IV-169 159. Colantuono Sweets Snc (Italy)...... IV-142 196. Deco Scrl (Italy)...... IV-170 160. Cole's Quality Foods, Inc. (USA)...... IV-142 197. Defroidmont SA (France)...... IV-171 161. Coles Traditional Foods Ltd. (UK) ...... IV-143 198. Del Punta Srl (Italy) ...... IV-173 162. Colin Hardie Ltd. (New Zealand)...... IV-144 199. Delafields Ltd. (UK) ...... IV-173 163. ConAgra Foods, Inc. (USA)...... IV-145 200. Deleye Products Sprl (Belgium)...... IV-173 201. Delifrance SA (France) ...... IV-174 Table 145: First Quarter Sales Analysis: Delifrance Australia Pty., Ltd. (Australia) ...... IV-175 2005-2006 (Q1) (In US$ million)...... IV-146 Delifrance Belgium SA (Belgium)...... IV-175 Table 146: Annual Sales Analysis: 2004-2005 202. Delvita Delikatessen GmbH (Germany)...... IV-176 (In US$ million) ...... IV-147 203. Der Beck GmbH (Germany) ...... IV-176 Table 147: Annual Sales Analysis by Segment: 204. Derkenne-Couline SA (Belgium)...... IV-176 2004-2005 (In US$ million) ...... IV-147 205. Desobry SA (Belgium)...... IV-177 Table 148: Quarterly Sales Analysis: 2004-2005 206. Dessert Industrie Dolciarie Italiane SpA (Italy) ...... IV-177 (In US$ million) ...... IV-147 207. De-Vau-Ge Gesundkostwerk GmbH (Germany)...... IV-178 Lamb Weston, Inc. (USA) ...... IV-148 208. Didea Srl (Italy) ...... IV-178 164. Conca D'oro F.P Srl (Italy) ...... IV-150 209. Diksmuids Boterhuis BVBA (Belgium)...... IV-179 165. Confeitaria da Ajuda SA (Portugal) ...... IV-150 210. Ding-Hao Acme Co., Ltd. (Taiwan)...... IV-179 166. Confeitaria da Carvalha Lda (Portugal) ...... IV-150 211. Dirk Eden GmbH (Germany)...... IV-179 167. Confiteria La Campana SA (Spain)...... IV-151 212. Dolce Bonta'-Industria Alimentare Dolciaria Srl (Italy)...... IV-180 168. Confiteria Zamudio SL (Spain)...... IV-151 213. Dolce Forno Srl (Italy)...... IV-180 169. Coppenrath Feingebdck GmbH (Germany) ...... IV-151 214. Dolci Aveja Snc (Italy) ...... IV-180 170. Costis SA (Greece) ...... IV-152 215. Dolciaria Acquaviva Srl (Italy) ...... IV-181 171. Cougar Tripod Foods Ent Co., Ltd. (Taiwan) ...... IV-152 216. Dolciaria Borrillo Snc (Italy) ...... IV-182 172. Country Home Bakers, Inc. (USA) ...... IV-153 217. Dociaria Colle Mollisano Snc (Italy)...... IV-182 173. Cova G. and C. Srl (Italy) ...... IV-154 218. Dolciaria Corti Sas (Italy) ...... IV-182 174. Croc-In SA (Belgium)...... IV-154 219. Dolciaria Cosmi Srl (Italy)...... IV-183 175. Croissant King Pty., Ltd. (Australia)...... IV-154 220. Dolciaria F.Lli Salomoni Snc (Italy) ...... IV-183 176. Cuisine de France Ltd. (Ireland) ...... IV-155 221. Dolciaria Gadeschi SpA (Italy) ...... IV-183

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BAKERY PRODUCTS MCP-2203 A GLOBAL STRATEGIC BUSINESS REPORT

CONTENTS 222. Dolciaria Ponte Vecchio Srl (Italy)...... IV-184 267. Eurogourmet Sarl (France)...... IV-204 223. Dolciaria Sud Srl (Italy)...... IV-184 268. Europabagaren AB (Sweden)...... IV-204 224. Dolcificio G.S Snc (Italy) ...... IV-184 269. Europea de Panificacion SA (Spain) ...... IV-204 225. Dolcissimo Srl (Italy)...... IV-185 270. Eurosandwich Snc (Italy)...... IV-205 226. Donuts Hellas Ltd. (Greece) ...... IV-185 271. EVGA Holdings SA (Greece) ...... IV-205 227. Dori Srl (Italy) ...... IV-185 272. Ezaki Glico Co., Ltd. (Japan)...... IV-206 228. Doria SpA (Italy) ...... IV-186 Table 153: Annual Sales Analysis: 2003-2004 229. Doyles Quality Products Ltd. (Ireland) ...... IV-187 (In US$ million) ...... IV-206 230. Dr Quendt Backwaren GmbH (Germany)...... IV-187 273. Farringford Foods Ltd. (UK)...... IV-207 231. Drago Domenico Panifici Srl (Italy) ...... IV-187 274. Fedon SA (Greece)...... IV-207 232. Dulcema SA (Spain) ...... IV-188 275. Feinbackerei Otten GmbH & Co., KG (Germany) ...... IV-207 233. Dulcimar SA (Spain)...... IV-188 276. Feinbackerei Thiele GmbH (Germany)...... IV-208 234. Durke Maurizia Pala Srl (Italy)...... IV-189 277. Fensek Srl (Italy)...... IV-208 235. E.Moreno SL (Spain)...... IV-190 278. Ferdinand Wolff GmbH & Co. (Germany) ...... IV-208 236. East Balt Italia Srl (Italy) ...... IV-191 279. Ferrero Ibirica SA (Spain)...... IV-209 237. Eastern Foods Ltd. (UK)...... IV-191 280. Ferrero SpA (Italy)...... IV-209 238. Eberhard Vielhaber GmbH and Co., KG (Germany) ...... IV-191 281. Fimardolci Srl (Italy)...... IV-210 239. Eberswalder Brot- und Feinbackwaren GmbH (Germany)..... IV-192 282. Finas Hembageri AB (Sweden)...... IV-210 240. Edme Ltd. (UK) ...... IV-192 283. Finska Hembageriet Seppo Linnakallio Ab Lilla Nyby 241. Edward Zorn and Co., Pty., Ltd. (Australia) ...... IV-192 (Sweden)...... IV-210 242. Effe Tre Pasta Fresca Snc (Italy)...... IV-193 284. Fiore Di Puglia Srl (Italy)...... IV-211 243. Efraimidis SA (Greece)...... IV-193 285. Fiort Neorossi Sas (Italy) ...... IV-212 244. EG-Fleischwarenfabrik Dieter Hein GmbH 286. Fipac Srl (Italy)...... IV-212 and Co., KG (Germany)...... IV-194 287. Flodor Industrie SA (France) ...... IV-213 245. Egg Unlimited Pty., Ltd. (Australia)...... IV-194 288. Food Products International Srl (Italy)...... IV-213 246. Egons Cakes Denmark A/S (Denmark)...... IV-195 289. Fooditalia SpA (Italy) ...... IV-213 247. El Quiteriano (Spain)...... IV-196 290. Forchy Patissier SA (France) ...... IV-214 248. Elaboradora de Alimentos Frutale Ltd. (Chile) ...... IV-196 291. Forn Empúries SL (Spain)...... IV-214 249. Elan Backbetrieb- Und Ebensmittelhandelsgesellschaft mbH 292. Forneria Gusparo Ltd. (Italy) ...... IV-214 (Germany)...... IV-196 293. Fornetto Genovese Srl (Italy)...... IV-215 250. Elite Industries Ltd. (Israel) ...... IV-197 294. Forno Bianco Srl (Italy) ...... IV-215 Table 151: Half Yearly Sales Analysis: 295. Fourni Attikis SA (Greece) ...... IV-215 2004-2005 (H1) (In NIS million)...... IV-198 296. Fradis Olla Srl (Italy) ...... IV-216 Table 152: Annual Sales Analysis: 2003-2004 297. Francescano Natura Srl (Italy) ...... IV-216 (In NIS million)...... IV-198 298. Francese Srl (Italy)...... IV-217 251. Elmi Erfurter Bdckereien Und Konditoreien Siegers KG 299. Frank Lebkuchen GmbH (Germany)...... IV-217 (Germany)...... IV-198 300. Fresco Foods Ltd. (UK) ...... IV-218 252. Elonen OY (Finland)...... IV-199 301. Fresh Food Industries Holdings Ltd. (Australia) ...... IV-218 253. Elviart Kaloidas SA (Greece)...... IV-199 302. Fresh Gourmet SA (Greece)...... IV-219 254. En-Pe Bakkerijen BV (The Netherlands)...... IV-199 303. Freshway Foods Ltd. (UK)...... IV-221 255. Ercoli and Cameli Srl (Italy)...... IV-200 304. Fricopan Back GmbH (Germany) ...... IV-222 256. Erkens Bakkerijen BV (The Netherlands)...... IV-200 305. Friesland Madibic Food Service France (France)...... IV-224 257. Ernst Simons Mitteldeutsche Simonsbrot-Fabrik 306. Frijling Banket BV (The Netherlands) ...... IV-224 (Germany)...... IV-200 307. Frischbrot Srl (Italy)...... IV-224 258. Erschfeld Bdckerei GmbH (Germany)...... IV-201 308. Fromenterie SA (France)...... IV-225 259. Erste Rheinldndische Bdckerei Ludwig Mdlzer GmbH 309. FSB Backwaren GmbH (Germany)...... IV-225 (Germany)...... IV-201 310. Fuji Baking Co., Ltd. (Japan)...... IV-225 260. Erzgebirgische Backwaren GmbH Annaberg (Germany)...... IV-201 311. Fujiya Co., Ltd. (Japan)...... IV-226 261. Esca Dolciaria Snc (Italy) ...... IV-202 312. Futur Gel Srl (Italy)...... IV-226 262. Estabelecimentos Nova Gama P A Lda (Portugal)...... IV-202 313. Galup SpA (Italy)...... IV-226 263. Estia SA (Greece) ...... IV-202 314. Gastreghini Srl (Italy) ...... IV-227 264. Etablissements Liaudet SA (France) ...... IV-203 315. Gatidis SA (Greece) ...... IV-227 265. Ets Barraud Et Cie SA (France) ...... IV-203 316. Gattodolcione Srl (Italy)...... IV-227 266. Ets Buisson Sarl (France)...... IV-203 317. Gebr Weinzheimer GmbH & Co., KG. (Germany) ...... IV-228

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CONTENTS 318. Gebruder Schmidt GmbH & Co., KG. (Germany)...... IV-228 Table 159: Annual Sales Analysis by Business 319. Geheb Conditori AS (Norway) ...... IV-229 Segments: 2003-2004 (In € million)...... IV-262 320. Gelmini Srl (Italy)...... IV-229 Table 160: Annual Sales Analysis by Geographical 321. General Mills Inc. (USA)...... IV-230 Region: 2003-2004 (In € million)...... IV-262 Table 154: Nine Months Sales Analysis: 2005-2006 General Biscuits NV (Belgium)...... IV-264 (Nine Months Ended, February) (In US$ billion)...... IV-232 360. Grupo Industrial Bimbo SA de CV (Mexico)...... IV-265 Table 155: Annual Sales Analysis: 2004-2005 Table 161: Annual Sales Analysis: 2003-2004 (In US$ billion)...... IV-232 (In Mex$ million) ...... IV-265 Table 156: Quarterly Sales Analysis: 2004-2005 Table 162: Annual Sales Analysis by Geographical (In US$ billion)...... IV-232 Region: 2003-2004 (In Mex$ million)...... IV-265 Table 157: Annual Sales Analysis by Segmen: Bimbo SA de CV (Mexico)...... IV-267 2004-2005 (In US$ billion)...... IV-232 Mrs Bairds Bakeries, Inc. (USA) ...... IV-267 322. Georg Hillmann & Co. (Germany)...... IV-239 361. Gualino Fratelli Snc (Italy) ...... IV-268 323. Gesnoin Sas (France) ...... IV-239 362. Guerra SpA (Italy) ...... IV-269 324. Ghiott Dolciaria SpA (Italy)...... IV-239 363. Gutena Nahrungsmittel GmbH (Germany)...... IV-270 325. Giant Food, Inc. (USA)...... IV-240 364. H.J. Heinz Company (USA)...... IV-271 326. Gilber Srl (Italy)...... IV-241 327. Giles Foods Ltd. (UK) ...... IV-241 Table 163: Annual Sales Analysis: 2003-2005 (In US$ million) ...... IV-272 328. Gillebagaren AB (Sweden) ...... IV-242 329. Gilles Sarl (France)...... IV-242 H.J. Heinz Company (USA)...... IV-277 330. Giolly Pancarre' Srl (Italy) ...... IV-243 365. Handmade Cake Company (The) (UK)...... IV-278 331. Gitoma Srl (Italy)...... IV-243 366. Handmade Foods Ltd. (Ireland) ...... IV-278 332. Giuliano Sosi Srl (Italy) ...... IV-243 367. Harden Fine Foods Ltd. (UK) ...... IV-279 333. Glaxi Pane Srl (Italy) ...... IV-244 368. Harinas Y Semolas Del Noroeste SA (Hasenosa) ...... IV-279 334. Gli Amaretti Impresa Individuale (Italy)...... IV-244 369. Haripan SL (Spain) ...... IV-280 335. Global Food Srl (Italy)...... IV-245 370. Harrisons Food Company (Ireland)...... IV-280 336. Glockenbrot Bdckerei GmbH + Co., Ohg. (Germany)...... IV-245 371. Harry's France SA (France)...... IV-280 337. Godbiten Konditori AB (Sweden)...... IV-245 372. Harvest Time Ltd. (UK)...... IV-281 338. Gold Leaf Cake Co., Ltd. (Taiwan)...... IV-246 373. Heemann Lebkuchen- und Susswaren-Spezialitdten GmbH 339. Golden Enterprises, Inc. (USA) ...... IV-246 (Germany)...... IV-281 Golden Flake Snack Foods, Inc. (USA)...... IV-247 374. Hegnauer Backerei AG (Switzerland)...... IV-282 340. Golden Orient Food Ltd. (New Zealand) ...... IV-248 375. Heinemann’s Bakeris, Inc. (USA)...... IV-282 341. Golden State Foods Corporation (USA)...... IV-249 376. Heinrich Schulze Ladencafé GmbH von Ravensberg Tafelgebäck (Germany) ...... IV-282 342. Gonnella Baking Co. (USA) ...... IV-250 343. Gonzalez y Barrado SL (Spain) ...... IV-250 377. Henry Newbould Ltd. (UK) ...... IV-283 344. Goodman Fielder Ltd. (Australia)...... IV-251 378. Hermanos Borja Pirez SL (Spain)...... IV-283 345. Gottena Keks-und Waffelfabrik GmbH & Co., KG. 379. Hermanos Martmn SL (Spain) ...... IV-283 (Germany)...... IV-252 380. Hermes Banket BV (The Netherlands)...... IV-284 346. Gramss GmbH (Germany) ...... IV-253 381. Herr Foods, Inc. (USA)...... IV-284 347. Great Harvest Bread Company (USA)...... IV-254 382. Hig Hagemann GmbH & Co., KG. (Germany) ...... IV-285 348. Greci Industria Alimentare SpA (Italy)...... IV-254 383. Hi-Lite Cakes & Pies Pty., Ltd. (Australia)...... IV-285 349. Green Core Group Plc (UK) ...... IV-255 384. Hillsdown Holdings Ltd. (UK)...... IV-286 350. Griesinger GmbH Grossbdckerei (Germany)...... IV-257 385. Hjobagarn AB (Sweden) ...... IV-286 351. Griesson-de Beukelaer GmbH & Co., KG. (Germany) ...... IV-257 386. HK Ruokatalo Oyj (Finland)...... IV-287 352. Grissinificio Europa Snc (Italy) ...... IV-258 387. Hofmann-Menu GmbH (Germany)...... IV-287 353. Grissinificio Linea Derby Snc (Italy)...... IV-258 388. Holgran Ltd. (UK)...... IV-288 354. Grissinificio Piemonte Snc (Italy)...... IV-258 389. Hollandia Matzes BV (The Netherlands) ...... IV-288 355. Grissinificio Zingonia Srl (Italy)...... IV-259 390. Holsum Bakery, Inc. (USA)...... IV-289 356. Grissitalia Srl (Italy) ...... IV-259 391. Homestyle Cookies (Vic) Pty., Ltd. (Australia) ...... IV-289 357. Großbäckerei Richard Herrmann GmbH (Germany) ...... IV-260 392. Horizon Food Group, Inc. (USA)...... IV-290 358. Groupe Biscuits Leclerc, Inc. (Canada) ...... IV-260 393. Horno San Buenaventura SA (Spain)...... IV-291 359. Groupe Danone (France)...... IV-261 394. Hubert Zimmermann GmbH & Co., KG. (Germany)...... IV-291 Table 158: Half-Yearly Sales Analysis by Quarters: 395. I Galimberti Fornai Pasticceri Snc (Italy)...... IV-292 2004-2005 (H1) (In € million)...... IV-262 396. I Granoliva Srl (Italy)...... IV-292

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397. Iaquone Srl (Italy)...... IV-293 431. Kings Hawaiian Holding Co. (USA)...... IV-333 398. Idea Quick Srl (Italy) ...... IV-293 432. Kinna Finbageri AB (Sweden)...... IV-334 399. Idibi Srl (Italy) ...... IV-294 433. Kirin Co., Ltd. (Korea)...... IV-334 400. Ifantis SA (Greece) ...... IV-294 434. Kit Kat Group (South Africa)...... IV-334 401. Indulgence Patisserie Ltd. (UK)...... IV-295 435. Klosterman Baking Company (USA)...... IV-335 402. Industria Dolciaria Fraccaro Spumadoro SpA (Italy)...... IV-295 436. Kobeya Baking Co., Ltd. (Japan)...... IV-336 403. Industria Panificazione Ambrosino Srl (Italy)...... IV-296 437. Koch's Bageri AB (Sweden) ...... IV-336 404. Industrie Riunite Campagnolo SpA (Italy)...... IV-297 438. Kohberg Brød A/S (Denmark) ...... IV-337 405. Industriele Brood en Banketbakkerij La Lorraine NV 439. Konditori Brödstugan i Mariannelund AB (Sweden) ...... IV-338 (Belgium)...... IV-297 440. Köppelmann Brot- und Backwaren GmbH (Germany) ...... IV-338 406. Interstate Bakeries Corporation (USA) ...... IV-298 441. Korian Leipomo OY (Finland)...... IV-339 407. Ion Cocoa & Chocolate Manufacturers SA (Greece) ...... IV-300 442. Kotileipomo Riikonen KY (Finland)...... IV-339 408. Isaia Srl (Italy) ...... IV-300 443. Krispy Kerme Doughnut Corporation (USA)...... IV-340 409. Isleport Foods Ltd. (UK)...... IV-301 444. Kroger Company (USA) ...... IV-341 410. Italpan SpA (Italy) ...... IV-301 445. Kronenbrot KG (Germany) ...... IV-342 411. Italpizza Srl (Italy) ...... IV-302 446. Kronobergsbageriet AB (Sweden) ...... IV-342 412. Ivalon Konditoria OY (Finland)...... IV-304 447. Kronos Products, Inc. (USA) ...... IV-343 413. J&J Snack Foods Corporation (USA) ...... IV-305 448. Krystal (USA) ...... IV-344 414. J.W. Fidler & Sons Ltd. (UK) ...... IV-307 449. Kuchenmeister GmbH (Germany) ...... IV-345 415. Jays Foods LLC (USA)...... IV-309 450. Kuivaksen Leipomo OY (Finland)...... IV-346 416. Johanssons Bageri Eftr i Sala AB (Sweden) ...... IV-309 451. Kvarnåsen Bröd AB (Sweden)...... IV-346 417. John B. Sanfilippo & Son, Inc. (USA) ...... IV-310 452. Kypseli SA (Greece) ...... IV-346 418. Joroisten Leipomo KY (Finland) ...... IV-312 453. La Boulangerie de l' Europe (France)...... IV-347 419. Jowa AG (Switzerland)...... IV-313 454. La Dulce Alianza SA (Spain)...... IV-348 420. JTM Provisions, Inc. (USA)...... IV-314 455. La Espiga Artesana SL (Spain) ...... IV-348 421. Kaiser Die Vollkornbäckerei GmbH (Germany)...... IV-315 456. La Maison Des Sorbets Foods Ltd. (UK) ...... IV-349 422. Kallinge Engbageri Produktions AB/Kallinge Ångbageri AB 457. La Nuova Pasticceria Srl (Italy) ...... IV-353 (Sweden)...... IV-315 458. La Piadarola Snc (Italy) ...... IV-354 423. Karamolegos Breadindustry SA (Greece) ...... IV-316 459. La Spiga Italia Snc (Italy) ...... IV-354 424. Karly SA (France)...... IV-316 460. La Tahona SA (Spain)...... IV-355 425. Kasseler Food Products, Inc. (Canada) ...... IV-316 461. Lacrem SA (Spain)...... IV-355 426. Kellogg Company (USA)...... IV-317 462. Lagost Srl (Italy) ...... IV-355 Table 164: Half Yearly Sales Analysis: 2004-2005 (H1) 463. Lam Soon (Hong Kong) Ltd. (Hong Kong) ...... IV-356 (In US$ million) ...... IV-318 464. Lamazou Sarl (France)...... IV-356 Table 165: Half Yearly Sales Analysis by Geographic 465. Lambos Bros SA (Greece) ...... IV-357 Segment: 2004-2005 (H1) (In US$ million) ...... IV-319 466. Lancaster Colony Corporation (USA)...... IV-358 Table 166: Annual Sales Analysis: 2003-2004 467. Lance, Inc. (USA) ...... IV-360 (In US$ million) ...... IV-319 468. Landbäckerei Ihle GmbH & Co., KG. (Germany)...... IV-364 Keebler Foods Company (USA) ...... IV-321 469. Landerholms Konditori AB (Sweden)...... IV-364 470. Lawler Foods Ltd. (USA)...... IV-364 427. KelsenBisca A/S (Denmark)...... IV-324 471. Le Chocoreve Patisserie Pty., Ltd. (Australia) ...... IV-365 428. Kerry Group PLC (Ireland)...... IV-325 472. Le Fournil des Tiennes Asbl (Belgium) ...... IV-365 Table 167: Half Yearly Sales Analysis: 2004-2005 (H1) 473. Le Fournil Vosgiens-Pierrel (France)...... IV-365 (In € million)...... IV-328 474. Le Moulin de la Vierge (France)...... IV-366 Table 168: Half Yearly Sales Analysis by Business 475. Le Pain Campagnard (LPC) (France)...... IV-366 Segment: 2004-2005 (H1) (In € million)...... IV-328 476. Le Patron AG (Switzerland)...... IV-366 Table 169: Half Yearly Sales Analysis by Geographic 477. Leipomo ja Konditoria Nurmi & Sulonen (Finland) ...... IV-367 Segment: 2004-2005 (H1) (In € million)...... IV-329 478. Leipomoliike Aitolahti KY (Finland)...... IV-367 Table 170: Annual Sales Analysis: 2003-2004 479. Lemaitre SA (France)...... IV-368 (In € million)...... IV-329 480. Lemayr Srl (Italy)...... IV-368 Kerry Ingredients (Australia)...... IV-332 481. Les Biscottes Roger (France) ...... IV-369 Kerry Ingredients GmbH (Germany) ...... IV-332 482. Les Brioches Srl (Italy) ...... IV-370 429. Kiepenkerl-Bäckerei GmbH (Germany) ...... IV-333 483. Les Ecureuils Languedoc SA (France)...... IV-370 430. King Foods Ltd. (Ireland) ...... IV-333 484. Ligurdolci Srl (Italy) ...... IV-370

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485. Lindahls Bageri AB (Sweden) ...... IV-371 529. Moore Mac Foods Ltd. (UK) ...... IV-403 486. Linea Alimentare Aresu Srl (Italy)...... IV-371 530. Mora Productie BV (The Netherlands)...... IV-403 487. Linea Vecchio Mulino Srl (Italy) ...... IV-371 531. Morinaga & Co., Ltd. (Japan) ...... IV-404 488. Lotte co., ltd. 3-20-1, nishi-shinjuku (Japan)...... IV-372 532. Morins Bageri & Centrumspel AB (Sweden)...... IV-405 489. Löwenbäcker GmbH (Germany)...... IV-372 533. Morningwell Co., Ltd. (Korea) ...... IV-405 490. Lu France SA (France)...... IV-372 534. Mountain Mike's Pizza (USA) ...... IV-406 491. M & M Products Ltd. (Ireland)...... IV-373 535. Mountaintop Baking Company (USA)...... IV-407 492. Maalahden Limppu OY (Finland)...... IV-373 536. Mr Donut Pty., Ltd. (Australia)...... IV-407 493. Madern SA (France) ...... IV-373 537. MRS. Fields’ Original Cookies, Inc (USA)...... IV-408 494. Magdalenas Lazaro SA (Spain)...... IV-374 538. Mühle Und Bäckerei Ärenheckeraiffeisengenossenschaft Eg 495. Magus SpA (Italy) ...... IV-374 (Germany)...... IV-409 496. Maina Panettoni SpA (Italy) ...... IV-375 539. Muhlenback GmbH (Germany)...... IV-410 497. Maison Du Pain Ltd . (UK)...... IV-376 540. Muller Brot AG (Germany)...... IV-410 498. Malmbergsbagarn HB (Sweden)...... IV-377 541. Multi-Marques, Inc. (Canada)...... IV-411 499. Maner Pan Srl (Italy) ...... IV-377 542. Munkkimiehet KY (Finland)...... IV-412 500. Manoucher Food & Co. (UK) ...... IV-377 543. Muzzi Pasticcerie Srl (Italy)...... IV-412 501. Marquette et Fils SA (Belgium)...... IV-378 544. Nähr-Engel GmbH (Germany)...... IV-413 502. Martin Lind Vogelsberger Bauernbrotbackerei GmbH 545. Napoli Pizza Company (Ireland)...... IV-414 (Germany)...... IV-378 546. National Pies Pty., Ltd. (Australia) ...... IV-414 503. Martinet SA (France) ...... IV-379 547. NaturalBio Srl (Italy) ...... IV-415 504. Masini Pietro Srl (Italy) ...... IV-380 548. Nestle SA (Switzerland)...... IV-417 505. Master Baker Ltd. (UK)...... IV-380 Table 174: First Quarter Sales Analysis: 506. Mauri Products Ltd. (UK)...... IV-381 2004-2005 (Q1) (In CHF billion)...... IV-419 507. Mautino Biscottificio Srl (Italy)...... IV-381 Table 175: First Quarter Sales Analysis by Product: 508. MAX WEISS GmbH & CO. KG ...... IV-382 2004-2005 (Q1) (In CHF billion)...... IV-419 509. Maxigel Srl (Italy) ...... IV-383 Table 176: First Quarter Sales Analysis by Geographical 510. McCain Foods Ltd. (Canada)...... IV-384 Region: 2004-2005 (Q1)(In CHF billion) ...... IV-420 McCain Foods (GB) Ltd. (UK)...... IV-385 Table 177: Annual Sales Analysis by Product: McCain Foods Holland BV (The Netherlands)...... IV-386 2003-2004 (In CHF billion) ...... IV-420 511. McCambridge Fine Food Ltd. (Ireland) ...... IV-387 Table 178: Annual Sales Analysis by Geographical 512. McDonald's Corporation (USA)...... IV-388 Regin: 2003-2004 (In CHF billion)...... IV-420 Table 171: Half-Yearly Sales Analysis: 2004-2004 (H1) (In US$ million) ...... IV-389 Nestle Chile (Chile) ...... IV-427 Nestlé Italiana SpA (Italy) ...... IV-427 Table 172: Half-Yearly Sales Analysis by Region: Nestle USA, Inc. (USA)...... IV-428 2004-2004 (H1) (In US$ million)...... IV-389 549. New Food Coatings Pty., Ltd. (Australia) ...... IV-434 Table 173: Annual Sales Analysis: 2003-2004 550. New World Restaurant Group, Inc. (USA) ...... IV-435 (In US$ million) ...... IV-389 Table 179: Half-Yearly Sales Analysis: 513. McKee Foods Corporation (USA) ...... IV-392 2004-2005 (H1) (In US$ million)...... IV-435 514. Meadow Vale Food Group (UK) ...... IV-392 515. Mecklenburger Backstuben GmbH (Germany)...... IV-393 Table 180: Quarterly Sales Analysis: 2003-2004 (In US$ million) ...... IV-435 516. Mecklenburger Landbäckereien GmbH (Germany) ...... IV-393 517. Melegatti SpA (Italy) ...... IV-394 Einstein Bros Bagels (USA)...... IV-436 518. Mestemacher GmbH (Germany)...... IV-395 Manhattan Bagel Co., Inc. (USA) ...... IV-437 519. MFP Poulaillon SA (France)...... IV-396 551. Newly Weds Foods, Inc. (USA)...... IV-438 520. Migali Srl (Italy) ...... IV-396 Newly Weds Foods Ltd. (UK) ...... IV-441 521. Milano Foods And Biscuits Limited (Canada)...... IV-397 552. Nff Plc (UK) ...... IV-445 522. Milcamps Gaufres SA (Belgium)...... IV-397 553. Nissin Food Products Co., Ltd. (Japan)...... IV-446 523. Mobergarna AB (Sweden) ...... IV-398 554. Nobis Printen OHG (Germany)...... IV-448 524. Modderman BV (The Netherlands)...... IV-398 555. Non Solo Dolce Srl (Italy) ...... IV-449 525. Modersohn's Muhlen- und Back-Betrieb GmbH 556. Nord Dolciaria Srl (Italy) ...... IV-449 (Germany)...... IV-399 557. Nordback GmbH (Germany)...... IV-449 526. Molinero Gonzalez SL (Spain) ...... IV-399 558. Northern Foods PLC (UK)...... IV-450 527. Molinos Rio de La Plata SA (Argentina) ...... IV-400 559. Northern Greece Cereal Co I.C SA (Greece) ...... IV-451 528. Molturación y Refino SA (Spain) ...... IV-402 560. Northumberland Cake Co. (UK) ...... IV-452

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561. Novapan 2000 Srl (Italy)...... IV-452 612. Panificadora Queretana, SA de C.V (Mexico)...... IV-476 562. Nuova Bristot Snc (Italy) ...... IV-453 613. Panificadora Solucar SL (Spain) ...... IV-476 563. Nuova Unibread Srl (Italy)...... IV-453 614. Panificio Adriatico Srl (Italy)...... IV-477 564. Nutriswiss AG (Switzerland) ...... IV-454 615. Panificio Della Valle Srl (Italy)...... IV-477 565. NV Aldia SA (Belgium) ...... IV-454 616. Panificio Delle Alpi Snc (Italy)...... IV-477 566. Oberto Sausage Company (USA) ...... IV-455 617. Panificio Dormello Snc (Italy) ...... IV-478 567. Odriozola Y Berridi SA (Spain)...... IV-456 618. Panificio Duerre Snc (Italy) ...... IV-478 568. Ohukaistalo KY (Finland)...... IV-456 619. Panificio e Biscottificio Casciaro Srl (Italy)...... IV-478 569. Old Dutch Foods, Inc. (USA) ...... IV-457 620. Panificio Fratelli Massetti Srl (Italy)...... IV-479 570. Old Fashioned Foods Limited (New Zealand) ...... IV-457 621. Panificio Larovere Srl (Italy) ...... IV-479 571. Old London Foods (USA)...... IV-458 622. Panificio Malaman Srl (Italy)...... IV-479 572. Olles Bageri O.Frisk AB (Sweden)...... IV-458 623. Panificio Melli Srl (Italy) ...... IV-480 573. Orkla Foods AS (Norway) ...... IV-458 624. Panificio Merli Paolo Srl (Italy)...... IV-480 Procordia Food AB (Sweden)...... IV-459 625. Panificio Monaco Snc (Italy) ...... IV-480 574. Orlando Baking Company (USA) ...... IV-460 626. Panificio San Giuseppe Snc (Italy)...... IV-481 575. Oscar SpA (Italy)...... IV-461 627. Panificio Seri Srl (Italy) ...... IV-481 576. Oskarsson & Andersson AB (Sweden) ...... IV-462 628. Panificio Toscano Srl (Italy) ...... IV-482 577. Otis Spunkmeyer, Inc. (USA) ...... IV-462 629. Panificio Trezzanese Srl (Italy)...... IV-482 578. Otto Reichelt AG (Germany) ...... IV-463 630. Panificio Zanella Srl (Italy)...... IV-482 579. OY Karl Fazer AB (Finland)...... IV-464 631. Panisol Comircio e Indzstria de Panificacao SA (Portugal) ....IV-483 580. OY Othello Products AB (Finland)...... IV-465 632. Panitavora - Panificacao Lda (Portugal)...... IV-483 581. Paderborner Brotfabrik Fritz Ostermann GmbH & Co. 633. Panrico Hellas SA (Greece) ...... IV-483 (Germany)...... IV-465 634. Pão de Mel Padaria Pastelaria Lda (Portugal) ...... IV-484 582. Padoce - Panificacao e Pastelaria Lda (Portugal) ...... IV-465 635. Parle Products Pvt., Ltd. (India)...... IV-485 583. PAF SpA (Italy)...... IV-466 636. Parmalat SpA (Italy) ...... IV-487 584. Pahna Lebkuchen GmbH (Germany) ...... IV-466 637. Parosa SA (Spain)...... IV-487 585. Paiano Salvatore e Abatianni Francesco Srl (Italy)...... IV-466 638. Pastas y Hojaldres Uko SA (Spain)...... IV-487 586. Pain Jacquet SA (France)...... IV-467 639. Pastccera Stella SpA (Italy)...... IV-488 640. Pasteleria Industrial Monte Turia SA (Spain)...... IV-488 587. Paindor Toulon SA (France) ...... IV-467 641. Pasticceria Aurora Srl (Italy)...... IV-489 588. Palethorpes Ltd. (UK)...... IV-467 642. Pasticceria Forin Snc (Italy)...... IV-489 589. Palauani SpA (Italy)...... IV-468 643. Pasticceria Leonardo Srl (Italy)...... IV-490 590. Pan Dell'orso Snc (Italy) ...... IV-469 644. Pasticceria Marabissi Srl (Italy) ...... IV-490 591. Pan Srl (Italy)...... IV-469 645. Pasticceria Perbellini Ernesto Srl (Italy)...... IV-490 592. Panaderia Confiteria San Rafael S.C.A (Spain) ...... IV-469 646. Pasticceria Quadrifoglio Srl (Italy) ...... IV-491 593. Panaderia Fernando Guillén SL (Spain)...... IV-470 647. Pasticceria Racca SAS (Italy)...... IV-491 594. Panadería Malageña Asociada SL (Spain) ...... IV-470 648. Pasticceria Rippa Snc (Italy) ...... IV-491 595. Panadería Productos Caracoche (Spain)...... IV-470 649. Pasticceria San Marco Srl (Italy)...... IV-492 596. Panaldia SL (Spain) ...... IV-471 650. Pasticceria Svizzera Caviezel (Italy) ...... IV-492 597. Panarello Ambrodolci Srl (Italy)...... IV-471 651. Pasticceria Tattini Giancarlo Snc (Italy)...... IV-492 598. Pandal Srl (Italy)...... IV-471 652. Pasticceria Todde & C, Snc (Italy)...... IV-493 599. Panelba Gestioni Srl (Italy)...... IV-472 653. Pasticceria Torino Srl (Italy) ...... IV-494 600. Paner Srl (Italy)...... IV-472 654. Pastisart SA (Spain) ...... IV-496 601. Panettoni D'auria Srl (Italy) ...... IV-472 655. Pastridor NV (Belgium) ...... IV-497 602. Pan-Gusto AG (Switzerland) ...... IV-473 656. Paterson Arran Ltd. (Scotland)...... IV-498 603. Panibar Panificadores Reunidos de Barcelos Lda 657. Patisseries Gourmandes SA (France) ...... IV-499 (Portugal)...... IV-473 658. Paul Heumann SA (France)...... IV-499 604. Panibel - Panificacao Unida de Belim Lda (Portugal)...... IV-473 659. Pecchia Giuliano & C, Snc (Italy)...... IV-500 605. Panificadora Asms Sociedad Limitada (Spain) ...... IV-474 660. Pema Vollkorn-Spezialitäten Heinrich Leupoldt KG 606. Panificadora California Ltda (Chile)...... IV-474 (Germany)...... IV-500 607. Panificadora Debin SA (Spain)...... IV-474 661. Pepsico, Inc. (USA) ...... IV-501 608. Panificadora Estepona SL (Spain)...... IV-475 Table 181: First Quarter Sales Analysis: 609. Panificadora Las Rosas Chicas Ltda (Chile) ...... IV-475 2004-2005 (Q1) (In US$ million)...... IV-503 610. Panificadora Meca Lda (Portugal) ...... IV-475 Table 182: Fist Quarter Sales Analysis by Business 611. Panificadora Nuestra Seqora de Gracia SL (Spain)...... IV-476 Division: 2004-2005 (Q1) (In US$ million) ...... IV-503

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BAKERY PRODUCTS MCP-2203 A GLOBAL STRATEGIC BUSINESS REPORT

CONTENTS

Table 183: Annual Sales Analysis: 2003-2004 697. Ravico SA (Belgium)...... IV-530 (In US$ million) ...... IV-503 698. Readibake Ltd. (Ireland) ...... IV-530 Table 184: Annual Sales Analysis by Business 699. Real Pizza Products AS (Denmark)...... IV-531 Division: 2003-2004 (In US$ million)...... IV-503 700. Rebisco SpA (Italy)...... IV-531 Table 185: Annual Sales Analysis by Quarters: 701. Reineke Brot GmbH and Co. (Germany) ...... IV-531 2003-2004(In US$ million) ...... IV-503 702. Reynaud SA (France)...... IV-532 Frito-Lay, Inc. (USA) ...... IV-505 703. Rich Products Corporation (USA)...... IV-533 The Quaker Oats Co. (USA)...... IV-507 704. Richard Barray SA (France)...... IV-534 662. Perfection Bakeries, Inc. (USA)...... IV-509 705. Richmond Foods Ltd. (New Zealand) ...... IV-534 663. Pescaradolc Srl (Italy)...... IV-509 706. Riitan Herkku OY (Finland)...... IV-534 664. Phoenix Foods Ltd. (UK)...... IV-510 707. Rimini Servizi Scarl (Italy) ...... IV-535 665. Piantedosi Baking Company, Inc. (USA)...... IV-511 708. Ripensa A/S (Denmark) ...... IV-535 666. Pietris SA (Greece) ...... IV-512 709. Ripon Select Foods Ltd. (UK)...... IV-535 667. Pigoni Stefano & C, Snc (Italy) ...... IV-513 710. Ritz Bageri and Konditori i Vetlanda AB (Sweden)...... IV-536 668. Pinetti G & M F.Lli Snc (Italy)...... IV-513 711. Riviana Foods, Inc. (USA)...... IV-536 669. Pioneer French Baking Co., Inc. (USA)...... IV-513 712. RJ Kerr Ltd (UK)...... IV-536 670. Piquattro Srl (Italy) ...... IV-514 713. Roland Murten AG (Switzerland) ...... IV-537 671. Pita Bread Ltd. (New Zealand) ...... IV-514 714. Romano Ernesto Snc (Italy) ...... IV-537 672. Pittas Foods Ltd. (UK)...... IV-514 715. Roncadin GmbH (Germany) ...... IV-538 673. Pizza Hut, Inc. (USA) ...... IV-515 716. Rositas Australasia Pty., Ltd. (Australia) ...... IV-539 674. Poco Loco Snack Food NV (Belgium)...... IV-516 717. S&P Syndicate Public Company Limited (Thailand)...... IV-540 675. Poli Giulia Snc (Italy) ...... IV-517 718. Saarioinen OY (Findland)...... IV-541 676. Polli SA (Switzerland) ...... IV-517 719. Sabatasso Pizza Products BV (The Netherlands) ...... IV-541 677. Preferita SA (Greece)...... IV-517 720. Safeway, Inc. (USA) ...... IV-542 678. Pride Valley Foods Ltd. (UK)...... IV-518 721. Saida SAS (Italy) ...... IV-544 679. Prior Norge (Norway) ...... IV-518 722. Saiwa SpA (Italy)...... IV-544 680. Prodotti Dolciari Gasparini F.Lli Snc (Italy)...... IV-519 723. San Carlo Gruppo Alimentare SpA (Italy) ...... IV-544 681. Productos Arenas SL (Spain)...... IV-519 724. Sara Lee Corporation (USA)...... IV-545 682. Productos Garpe SA (Spain)...... IV-519 Table 191: Annual Sales Analysis: 2003-2005 683. Productos San Fermmn SA (Spain)...... IV-520 (In US$ million) ...... IV-549 684. Productos Virgen Del Brezo SA (Spain)...... IV-520 Table 192: Annual Sales Analysis by Business 685. Pulla-Pojat OY (Finland) ...... IV-520 Segment: 2003-2004 (In US$ million)...... IV-549 686. Pulsnitzer Lebkuchenfabrik GmbH (Germany)...... IV-521 Table 193: Annual Sales Analysis by Geographic 687. Punselie House Holland BV (The Netherlands)...... IV-521 Region: 2003-2004 (In US$ million)...... IV-549 688. Puntodolce Snc (Italy)...... IV-522 Sara Lee Bakery Pty., Ltd. (Australia) ...... IV-551 689. Purity Foods Co. (New Zealand)...... IV-522 Sara Lee Bakery Group (USA) ...... IV-551 690. Quality Food Group SpA (Italy) ...... IV-523 725. Sargento Foods, Inc. (USA) ...... IV-553 691. Qui Sardegna Srl (Italy) ...... IV-524 726. Savonlinnan Leipurit OY (Finland)...... IV-554 692. Rafaela Barba Bergis (Spain)...... IV-525 727. Saxby Brothers Ltd. (UK) ...... IV-554 693. Ralcorp Holdings, Inc. (USA)...... IV-526 728. Sayers Confectioners Ltd. (UK)...... IV-556 Table 186: Nine Months Sales Analysis: 2004-2005 729. Schenley Bakehouse Ltd. (New Zealand) ...... IV-556 (Nine Months Ended, June) (In US$ million)...... IV-526 730. Schmidt Baking Company, Inc. (USA)...... IV-556 731. Schwebel Baking Company (USA)...... IV-557 Table 187: Nine Months Sales Analysis by Quarter: 2004- 2005 (Nine Months Ended, June) (In US$ million) ... IV-527 732. Schwedter Backwaren GmbH (Germany) ...... IV-557 733. Seghers Biscuiterie NV (Belgium)...... IV-557 Table 188: Annual Sales Analysis: 2003-2004 734. Sehne Backwaren KG (Germany)...... IV-558 (In US$ million) ...... IV-527 735. Seoul Foods Industrial Co., Ltd. (Korea) ...... IV-558 Table 189: Annual Sales Analysis by Quarter: 736. Seven-Eleven Japan Co., Ltd. (Japan)...... IV-559 2003-2004 (In US$ million) ...... IV-527 737. Shikishima Baking Co., Ltd. (Japan)...... IV-561 Table 190: Annual Sales Analysis by Segment: 738. Simpson Ready Foods Ltd. (UK) ...... IV-561 2003-2004 (In US$ million) ...... IV-527 739. Sinnack Backspezialitdten GmbH and Co., KG. 694. Randy SA (France) ...... IV-529 (Germany)...... IV-562 695. Rarita' L and C, Srl (Italy)...... IV-529 740. Sixbackens Hembageri AB (Sweden) ...... IV-562 696. Rausch Schokoladen GmbH (Germany) ...... IV-530 741. Snak King Corporation (USA)...... IV-563

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BAKERY PRODUCTS MCP-2203 A GLOBAL STRATEGIC BUSINESS REPORT

CONTENTS 742. Snnp Inter Trade Co., Ltd. (Thailand)...... IV-564 794. Turrones Roig SA (Spain)...... IV-598 743. Snyder's Of Hanover (USA) ...... IV-564 795. Unibic Australia Pty., Ltd. (Australia) ...... IV-599 744. Socopal Sociedade Concelhia de Panificacao Almadense Lda 796. Unigriss Srl (Italy) ...... IV-599 (Portugal)...... IV-565 797. Unilever NV (The Netherlands)...... IV-600 745. Solepan Srl (Italy)...... IV-565 Table 194: First Quarter Sales Analysis: 746. Somerfield PLC (UK)...... IV-565 2004-2005 (Q1) (In € million)...... IV-602 747. Specialty Cereals Pty., Ltd. (Australia)...... IV-566 Table 195: First Quarter Sales Analysis by Segment: 748. Specialty Foods Acquisition Corporation (USA) ...... IV-566 2004-2005 (Q1) (In € million)...... IV-602 749. Speedway Super America LLC (USA) ...... IV-567 Table 196: First Quarter Sales Analysis by Geographic 750. Spiga Srl (Italy)...... IV-568 Region: 2004-2005 (Q1) (In € million) ...... IV-602 751. Stabburet AS (Norway)...... IV-569 Table 197: Annual Sales Analysis: 2003-2004 752. Stabinger Srl (Italy)...... IV-570 (In € million) ...... IV-603 753. Stateside Foods Ltd. (UK) ...... IV-570 754. Stavelins Eftf AS (Norway) ...... IV-571 Table 198: Quarterly Sales Analysis: 2003-2004 (In € million) ...... IV-603 755. Stefania SpA (Italy) ...... IV-571 756. Stephen's Fine Foods (Australia)...... IV-571 Table 199: Annual Sales Analysis By Segment: 757. Stieffenhofer GmbH (Germany) ...... IV-572 2003-2004 (In € million) ...... IV-603 758. Stinas Bageri AB (Sweden) ...... IV-572 Table 200: Annual Sales Analysis by Geographic 759. Storsjöbagaren AB (Sweden)...... IV-572 Region: 2003-2004 (In € million)...... IV-603 760. Strathmore Foods Ltd. (UK) ...... IV-573 Unilever Bestfoods Deutschland GmbH (Germany) ...... IV-605 761. Stuhlers Patisserie Pty., Ltd. (Australia) ...... IV-574 Unilever Bestfoods North America (USA) ...... IV-605 762. SU Guttiau Srl (Italy)...... IV-574 798. Unilever PLC (UK)...... IV-606 763. Sugar Art Of Lincoln (UK)...... IV-574 799. Uni-President Enterprises Corporation (Taiwan) ...... IV-608 764. Super Coffeemix Manufacturing Ltd. (Singapore)...... IV-575 800. Uniq PLC (UK)...... IV-609 765. Super Valu, Inc. (USA)...... IV-576 801. United Biscuits (UK)...... IV-611 766. Supreme Cake Company (Australia)...... IV-578 Mcvitie's (UK) ...... IV-614 767. Swiss Premium Holding Co., Ltd. (Thailand)...... IV-578 United Biscuits Netherlands (The Netherlands)...... IV-614 768. Tarallificio Giorgia Srl (Italy)...... IV-578 802. United Foods Public Company Limited (Thailand)...... IV-615 769. Tasty Baking Company (USA) ...... IV-579 803. United Kyoei Foods Co., Ltd. (Thailand)...... IV-615 770. TDL Group Ltd. - Tim Hortons (Canada)...... IV-581 804. United States Bakery, Inc. (USA) ...... IV-616 771. Tekrum-Werk Theodor Krumm GmbH and Co., KG. 805. Universal Robina Corporation (Philippines) ...... IV-618 (Germany)...... IV-581 806. Upper Crust Ltd. (Canada)...... IV-619 772. Telepizza SA (Spain)...... IV-582 807. UTZ Quality Foods, Inc . (USA)...... IV-621 773. Terra E Sole Srl (Italy)...... IV-582 808. Valle Fiorita Srl (Italy)...... IV-622 774. Thai President Foods Public Co., Ltd. (Thailand)...... IV-583 809. Valpan Srl (Italy) ...... IV-622 775. The Bachman Company (USA) ...... IV-584 810. Valpizza Srl (Italy)...... IV-622 776. The Crusty Pie Company (UK)...... IV-584 811. van der Breggen BV (The Netherlands) ...... IV-623 777. The English Cheesecake Co., Ltd. (UK) ...... IV-585 812. Van Welzen Bakkerijen BV (The Netherlands) ...... IV-623 778. The Goodtime Food Co., Ltd. (New Zealand)...... IV-585 813. Vandemoortele NV (Belgium) ...... IV-624 779. The Great Canadian Bagel Company (Canada)...... IV-586 814. Vanilla Produits Srl (Italy) ...... IV-626 780. The Great Steak and Potato Co. (USA)...... IV-587 815. Vara Bageri AB (Sweden)...... IV-626 781. The Hain Celestial Group, Inc. (USA) ...... IV-588 816. Varsos Kifissia SA (Greece) ...... IV-626 782. The J.M. Smucker Co. (USA)...... IV-590 817. Vast Banket BV (The Netherlands)...... IV-627 783. The Taco Maker (USA) ...... IV-591 818. Venetis SA (Greece) ...... IV-628 784. Thirion Production SA (Belgium)...... IV-593 819. Verdener Keks- und Waffelfabrik Hans Freitag GmbH 785. Thomas Tunnock Ltd . (UK)...... IV-593 and Co., KG. (Germany) ...... IV-628 786. Thuringer Lebkuchen GmbH (Germany)...... IV-593 820. Veripan AG (Switzerland) ...... IV-628 787. Thuro Back GmbH (Germany) ...... IV-594 821. Veris Nahrungsmittel GmbH (Germany) ...... IV-629 788. Tilly SA (France)...... IV-594 822. Vermauts Boerenbrood NV (Belgium)...... IV-629 789. Tom's Foods, Inc. (USA) ...... IV-594 823. Very Pizza Italia Srl (Italy) ...... IV-630 790. Trevisan Dolciaria Srl (Italy) ...... IV-595 824. Vesterlund Bageri A/S (Denmark) ...... IV-630 791. Ts Foods Ltd. (UK)...... IV-597 825. Vicenzi Biscotti SpA (Italy)...... IV-631 792. Tulipan AG (Switzerland)...... IV-597 826. Vilénin Leipomo (Finland)...... IV-633 793. Turano Baking Company (USA)...... IV-598 827. VitaVigor Srl (Italy)...... IV-633

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CONTENTS 828. Vogrig L & C, Snc (Italy) ...... IV-633 843. Wilhelm Kinkartz GmbH and Co., KG. (Germany)...... IV-646 829. Vondelmolen NV-SA (Belgium) ...... IV-634 844. William Jackson and Son Ltd. (UK) ...... IV-647 830. Voortman Cookies Ltd. (Canada) ...... IV-634 845. Windsor Dairy Ltd. (UK)...... IV-648 831. Walkers Shortbread Ltd. (UK)...... IV-634 846. Winter Banket Grootverbruik BV (The Netherlands)...... IV-648 832. Wallanders Hembageri AB (Sweden) ...... IV-635 847. Wise Foods, Inc. (USA) ...... IV-648 833. Want Want Holdings Ltd. (Singapore)...... IV-635 848. Wittamer SA (Belgium) ...... IV-649 834. Warburtons Limited (UK)...... IV-636 849. Wolf Susswaren GmbH (Germany) ...... IV-649 835. Wendeln Brot Ost GmbH (Germany)...... IV-637 850. Wonder Wash Lanka (Pvt) Ltd. (Sri Lanka)...... IV-649 836. Wendys International, Inc. (USA)...... IV-638 851. Woo Ri Food Co., Ltd. (Korea)...... IV-650 837. Wepu-Brot GmbH (Germany) ...... IV-640 852. Wyandot, Inc. (USA) ...... IV-650 838. Western Bagel Baking Corporation (USA)...... IV-640 853. Yacoumis Pty., Ltd. (Australia)...... IV-650 839. Wetzel's Pretzels LLC (USA) ...... IV-641 854. Yamazaki Baking Co., Ltd. (Japan) ...... IV-651 840. Whitworths Limited (UK)...... IV-642 Vie De France Bakery Yamazaki (USA) ...... IV-654 841. Wiberg Corporation (Canada)...... IV-646 Yamazaki Nabisco (Japan)...... IV-656 842. Wiener Feinbäckerei Heberer GmbH Hoyerswerda 855. YUM Brands, Inc. (USA) ...... IV-657 (Germany)...... IV-646 856. Zaghis SpA (Italy)...... IV-657

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