Table 1.
Financialisation of branders and first-tier suppliers
| Company name | Nationality | Listed | Objectives | Investment | Operations | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total dividends as % of gross profit | Share of inst. inv | Goodwill as % of total assets | No. of subsidiaries | Subsidiaries offering fin. services | |||||||
| 1990s | 2000s | 2010s | 1990s | 2000s | 2010s | ||||||
| Branders | |||||||||||
| Mars | USA | No | – | – | – | – | – | – | – | 88 | No |
| Mondelēz | USA | Yes | – | 9.62 | 11.50 | 79.49 | – | 49.44 | 34.95 | 200 | No |
| Hershey | USA | Yes | 7.13 | 11.58 | 13.83 | 78.40 | 14.62 | 12.59 | 15.18 | 46 | No |
| Nestlé | Switz | Yes | 3.52 | 5.90 | 14.72 | 39.64 | 0.00 | 26.81 | 25.14 | 200 | No |
| Ferrero | Italy | No | – | – | – | – | – | – | – | 23 | No |
| Lindt | Switz | Yes | 2.83 | 4.10 | 30.85 | 23.27 | 0.00 | 0.00 | 11.81 | 33 | No |
| Meiji | Japan | Yes | – | – | 2.24 | 42.60 | – | - | 0.74 | 8 | No |
| First-tier suppliers | |||||||||||
| Cargill | USA | No | – | – | – | – | – | – | – | 184 | Yes |
| Barry | Switz | Yes | – | 7.00 | 9.68 | 32.60 | – | 11.87 | 13.54 | 43 | Yes |
| Fuji oil | Japan | Yes | 3.70 | 2.98 | 5.19 | 24.94 | 0.00 | 0.00 | 7.03 | 14 | No |
| Cémoi | France | No | – | – | – | – | – | – | – | 13 | No |
| Olam | Sing | Yes | – | 2.07 | 7.32 | 59.83 | – | 1.95 | 1.73 | 51 | Yes |
Switz. Switzerland, Sing. Singapore
Values are 10-year averages. Share of inst. inv. is the share of institutional investors in total shareholders. Offering fin. services states yes if at least one subsidiary offers financial services as part of its core business. Sources: Thomson Reuters Datastream and online research