IN THE MIX
Hershey rejects Mondelez takeover Iconic North American chocolate manufacturer Hershey Co has rejected a $US23 billion ($AU31 billion) offer by Mondelez International that would create the world’s largest confectioner. The snub underscores the challenges Mondelez faces in wooing Hershey’s controlling shareholder, the Hershey Trust, a $US12 billion charity created by the company’s founder more than a century ago.
F o l a t e in b r ead sees d r o p in bi r t h defe c t s
The Trust's reputation has recently been muddied by allegations some board members have been spending funds.
The rates of spina bifida and other neural birth defects in Australian babies have significantly declined since the mandatory introduction of folate to bread.
Earlier this year, it was rumoured Mondelez, the maker of Oreo cookies, had assured Hershey it would keep its name and preserve jobs.
A review of the bread fortification program, conducted by the government-funded Australian Institute of Health and Welfare (AIHW), has found the overall rate of neural tube defects (NTDs) has decreased by 14.4 per cent since its implementation – in line with predictions.
Mondelez is the second-largest confectionery company in the world, while Hershey ranks number five. Combined, they would own the largest share of the global market (18 per cent), leapfrogging Mars Incorporated.
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What wasn’t expected was the even bigger decrease of NTDs among babies born to teenagers, and Aboriginal and Torres Strait Islander women. The rate of NTDs among teenagers decreased by almost 55 per cent, and by almost 75 per cent among Aboriginal women.
In 2009 the Australia New Zealand Food Standards Code required the fortification of bread with folic acid and iodine. Folic acid is a B group vitamin that helps prevent neural tube defects in infants. Iodine is a nutrient needed for the development and functioning of the thyroid gland, brain and nervous system, especially in infants and young children. Of course, other non-food related factors are contributing to the improved statistics, but research suggests the fortification of bread has also played a key role in preventing the re-emergence of mild iodine deficiency in the general population. Ann Hunt from AIHW said the results prove the addition of folate to bread should be continued.
ba ki n g @ t m p c .c om .a u t o sh a re y ou r st ory. BAKING BUSINESS
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