This is part of a more systemic issue.
In general, American capital has been buying up European assets for the past 20 years at a large scale.
Because of the way we (EU) prioritize workers, society and customers and they (US) prioritize shareholders and capital, their companies are always in a better position to take over our companies.
We need to protect our European companies in the same way China and Japan protect their companies.
You’re really oversimplifying this situation, European multinationals do the exact same thing to US brands. Examples include Nestle, Unilever, and AB InBev, among many others.
Multinational corporations make a boycott of a specific country’s products difficult, because oftentimes the factories that make the products may be within your country even if the top of the chain is located somewhere else.
No, you are attacking a straw man.
Of course it’s not black and white, but the overall balance is much more towards American capital than European capital.
Even for a company like Unilever, American institutional investors hold a much larger share than European investors hold in Mondelez.
That’s the point I was making.
The GDP of the US is about $30 trillion USD while the GDP of the EU + UK is about $23 trillion USD. Europe has enough capital to effectively compete with the US, and it does. “American institutional investors” include a ton of foreign capital. This isn’t a “David vs Goliath” situation
I’m European and even I’m part of the American institutional investor class.
Retirement funds in stock based ETFs = everyone is part of these large insitutional funds. Until my requested change taked place, my fund mostly holds Blackrock (iShares) run ETFs and a few other American ones. Soon it’ll be Xtrackers and a few other European ones with no US specific fund, but I’m not rich so this is a drop in the sea.
Cadbury is also owned by Mondelez, so many British chocolate bars are out too.
And Cadburys have reduced the quality of their chocolate since the take over, to maximise profits further. I largely try to avoid them along with Nestle, but that mostly leaves you with store own brands & the more expensive but much better quality smaller brands (until they get bought out & ruined in the process!).
I’ve started seeing Tony’s Chocolonely in stores recently, but it’s about £3.80 UK price as opposed to a similarly sized Cadbury’s bar which is anywhere from £1.50 to £2.00.
It’s a shame because I love a good chocolate bar but nearly £4 is a bit too steep for me.
it is steep but it’s good chocolate. It makes you rethink your relationship with it doesn’t it, we take it for granted when in fact it should be a very occasional treat. This is not meant as a preachy statement, I’m very guilty of eating too much chocolate but I think it’s the first step in a more positive direction.
Lindt is a high quality European brand but definitely more expensive. M&S brand chocolate is nice and decently priced. Other supermarkets have their own brands which are cheaper but not as nice IMO.
The factories are still in France though
LU France is a company in the Biscuits division of the American group Mondelez International (formerly Kraft Foods), acquired by the Danone group in 2007. The LU brand, whether under the Danone or Kraft Foods brand, is the number one biscuit manufacturer in France. It is also the number one in Europe for dry, sweet, and savory biscuits. Since its incorporation into the Kraft Foods group, the company has become the world leader.
The company consists of:
- 9 production plants: Besançon, Cestas, Charleville-Mézières, Château-Thierry, Granville, Jussy, La Haie-Fouassière, Toulouse, and Vervins;
- 2 central warehouses;
- 2 headquarters in Rungis and Vélizy.
Interesting! Well, it’s kind of a tough case. If anyone here knows someone who works for LU, how has things changed since they belong to Mondelez? Maybe there is a difference, but it’s not like Kraft or Danone are pop and mom stores
Mondelez is the former snack-food branch of Kraft food. They renamed it and it went an independent company.
Kraft Group stayed for the grocery branch. Eventually, Kraft Group and Heinz merged into Heinz Kraft later.
If they was a change, it would be between Danone and Kraft. It’s not the same management culture.
Mondelez… nuts! (Or Mondeez Nutz, I dunno, it was funny in my head.)
Did this turn your world upside down, OP?
(Pic.)
