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TheStreet Open House

Jim Cramer's Stop Trading: M&A Madness in the Food Industry

NEW YORK (TheStreet) -- On CNBC's "Cramer's Stop Trading" segment, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said large food companies Campbell Soup (CPB) and Kellogg (K) reported poor earnings results, but their shares traded higher in the aftermath. Meanwhile, smaller food companies, such as Hain Celestial Group (HAIN), reported good results, but their shares are now lower, Cramer added.

CNBC's David Faber said that the consolidation in the industry is staggering, with plenty of M&A activity. 

"You cannot win against the conventional supermarkets because they are too powerful," Cramer said.

Their conversation follows Tyson Foods' (TSN) move to acquire Hillshire Brands (HSH) for $50 per share, topping the takeover price that Pilgrim's Pride (PPC) was looking to pay for Hillshire. 

Many now wonder whether Hillshire's offer for Pinnacle Foods (PF) will still be completed. Cramer called the latter a well-run company with a "good yield." 

Faber questioned whether Hillshire could get out if its deal for Pinnacle Foods.

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.

-- Written by Bret Kenwell in Petoskey, Mich.

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At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.

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