Other Food And Drink News
Urban Bees. Bee aware of their importance
The potential disappearance of bees is rather shocking as we depend on them! Our survival depends on the survival of bees, and it is not an exaggeration! Fewer bees also threaten the existence of many industries.
Yum affected by bird flu
While bird flu is spreading wider and wider in China, it has also affected US-based Yum Brands Inc.’s results as its same store sales in the world’s second economy slumped approximately 20 percent in the first quarter ended March 23. However, still the fast-food giant appears to have got off problems lightly as it underlined that the first quarter profit dropped less than initially expected.
JAB acquires D.E. Master Blenders as it aims to build coffee empire
While some empires are sinking into oblivion, some are just rising. After all, Joh. A. Benckiser GmbH would acquire D.E. Master Blenders NV, well-known European coffee company, for as much as €7.5 billion as the German company is laboriously building its coffee empire. Indeed, the acquisition of D.E. Master Blenders NV is aimed at building distinct importance of the German company in the coffee market.
Nestle Engulfed by Horsemeat Scandal
Nestle SA decided to remove two beef pasta meals from sale in Spain and Italy after traces of horse DNA were found and then confirmed by reports. The company removed its beef products as they were found to be contaminated and unfit for consumption.
Legendary Heinz purchased for $23bn
The confidence is back as several mergers have been announced. And what is more, the acquisition of Heinz was announced. Warren Buffett and Jorge Paulo Lemann decided to go into the ketchup business by acquiring H.J. Heinz Co. for over $23 billion. The acquisition of Heinz is believed to be the biggest takeover in the history of the food industry.
China’s businesses to sponsor Manchester United
Manchester United Plc inked two sponsorship deals with China’s businesses, namely, China Construction Bank Corp. and Wahaha Group Co. As it has been underlined, both sponsorship deals are “territory specific” as 19-time English soccer champion Manchester United wants to benefit from its status in Asia.
Starbucks deepens its expansion in Asia as it opens store in Vietnam
On the 3rd of January, Starbucks Corp. informed that it would launch its first café in Vietnam in February 2013. The decision comes as the Seattle-based company is trying to expand its presence in the Asia-Pacific region.
Scotch whisky enters “second golden era”
New research, which was conducted by the Scotch Whisky Association, shows that Scotch whisky enters its “second golden era” as it generates over £4 billion per year. The undeniable position of Scotch whisky in the Scotland’s economy is mainly driven by overseas investment.
Monster Bev. posts 3Q profit saying its drinks are safe
On the 7th of November, Monster Beverage Corp. posted its third quarter profit which missed analysts’ estimates. The company has increased its spending on promotion and advertisement since it started facing investigation into safety of its energy drinks. Shares of Monster Beverage Corp. dived in aftermarket trading.
ADM bid for GrainCorp to start the bidding war
Archer Daniels Midland (ADM), the U.S. agriculture giant, offered a $2.8 billion bid for GrainCorp. After GrainCorp confirmed the bid from ADM, the Australia’s grain handler’s shares grew as much as 40 percent, to $12.50. According to analysts, the ADM’s takeover bid will not be enough. The bidding war is expected to start.
Diageo sales grows due to emerging markets
Diageo Plc, the world’s biggest spirits group, reported a 5 percent growth in quarterly sales. As it was stated the Diageo Plc growth in sales was driven by demand for brands such as Smirnoff and Captain Morgan in tthe United States and emerging markets as well. The company admitted, however, that its sales were affected by tough economic conditions in Southern Europe and Ireland as well.
Danone revenue misses estimates as European markets struggle
Danone SA informed on the 17th of October that its third-quarter revenue missed estimates as the group continues struggling in Southern Europe. Declines, which were noted in Spain and Greece, caused the weakest increase in sales of dairy products in three years. Danone SA, the world’s biggest yogurt maker, reported that it sales grew solidly in the third quarter because of its water business and strong growth in Asian market.
Coca-Cola & Sanofi venture to release ‘beauty drinks’ in France
The Coca-Cola Co. and Sanofi SA decided to start a venture to launch a line of ‘beauty drinks’ in France. The 50-50 partnership aims at diversification of products and entering a new market for both the Coca-Cola Co. and Sanofi.
Starbucks to Open Its First Store in India by October End
Starbucks Corp. will open its first store in India by the end of October in an upscale neighborhood of Mumbai. The company has also appointed Avani Saglani Davda a chief executive to head its India joint venture.The company will launch its first store in India through the partnership with Tata Global Beverages.
Starbucks introduces “Verismo” brewer for $199
Starbucks Corp. has introduced its new single-serve brewer Verismo, which will be sold online this weekend for $199. The Starbucks Verismo is planned to be sold in the company’s cafés next month. The competitive prices of the Starbucks new coffee machine could be a threat to brewers from Green Mountain Coffee Roaster Inc. and Nestle SA, the dominant players in the single-serve coffee market valued at $8 billion.
PepsiCo President Compton Resigns; Abdalla Becomes His Successor
PepsiCo Inc. informed on Tuesday that its president, John Compton, resigned from the post to run a large privately held company in the state of Tennessee, Pilot Flying J Oil Corp. John Compton’s resignation comes as a surprise after less than a year on the job. Zein Abdalla has been appointed John Compton’s successor.
M&B names Alistair Darby new CEO
Mitchells & Butler, the pubs and restaurant group, has announced Alistair Darby a new CEO after an 18-month search. The long search came to an end; however the newly appointed CEO, Alistair Darby, is said to have been poached by the pubs and restaurant group from its rival Martson’s. Mr. Darby had worked there as chief operating officer.
2012 London Olympics to Have Minimal Impact on Greene King’s Sales
2012 London Olympics is said to have quashed trade at Green King’s central London pub but at the same time it helped increase Green King’s sales in the suburbs. According to Green King’s report published today, 2012 London Olympics had a minimal impact on the company’s performance, which had been expected by its officials. However Green King’s sales increased despite the wet weather in the summer.
Morrisons’ Profits Predicted to Drop
Supermarket chain Morrisons will be in a spotlight this week as it has been announced that company’s half-year results will be published on Thursday. Morrisons’ half-year results are expected to show that the UK fourth-largest grocery chain is struggling with the current economic situation and a fiercer competition especially from challenger Asda after the purchase of Netto. Dalton Philips, the chief executive of Wm Morrison, believes that a new fresh-food format for company’s supermarkets will help the giant chain to reverse a decline in sales at Morrisons.
