While the economy remains a bit stagnant, some food and beverage companies have significant cash on their balance sheets, and intend to increase capital spending on new products, mergers and acquisitions and technology to fuel growth, according to a recent survey from KPMG LLP, a US audit, tax and advisory services firm. While investing in growth, executives remain focused on costs and efficiency, and indicate their companies are placing increased emphasis on talent management and regulatory compliance.
According to KPMG’s Food & Beverage Industry Outlook Survey, 68 percent of food industry executives affirm their companies have significant cash on the balance sheet—up 63 percent from KPMG’s 2011 survey—and nearly half (47 percent) say their companies’ cash positions have improved from last year.