LONDON (Reuters) – Bird’s custard and chapatti flour are joining Hartley’s jam on the “for sale” rack of Premier Foods (PFD.L) as Britain’s biggest food group tries to reduce its hefty debts and meet bankers’ sell-off demands.
Weighed down by hefty debts taken on with its 1.2 billion pound ($1.88 billion) acquisition of Hovis and Mr Kipling group RHM in March 2007, just before the credit crisis and subsequent economic downturn, Premier is fighting for its life, contending with cashflow-sapping bank fees and the need to fill a hefty pension deficit.
LONDON, July 6 (Reuters) – The British government has
already decided to require cigarettes to be sold in plain,
brand-free packets even though it has not yet completed its
consultation on the issue, cigarette maker Japan Tobacco
claimed on Friday.
The group, which sells Benson & Hedges and Silk Cut
cigarettes in Britain, believes Health Secretary Andrew
Lansley’s anti-smoking stance and a flawed consultation process
suggests the government will push ahead with so-called plain
LONDON, June 29 (Reuters) – Big brewing deals are still very
much on the agenda, even after Anheuser-Busch InBev
buys out Mexican brewer Grupo Modelo for $20.1
The world’s largest brewer may well be back on the
acquisition trail in a couple of years, bankers and analysts
say, with its biggest rival SABMiller likely in its
sights. Meanwhile some family owners of the few remaining bid
targets may be tempted to cash in their scarcity value with
LONDON, June 28 (Reuters) – Anheuser-Busch InBev
could announce a deal on Friday to buy the half share of
Mexico’s Grupo Modelo it does not already own for
around $15 billion, the latest of a string of deals as big
brewers look for growth from emerging markets, people familiar
with the matter said.
The world’s biggest brewer is in advanced talks with the
family shareholders who control Modelo and bankers were working
on Thursday to put the final touches on a deal that is
anticipated to be in cash rather than shares, they added.
LONDON/AMSTERDAM (Reuters) – Cheaper arabica beans and ambitious goals have given Dutch group D.E. Master Blenders 1753 (DEMB.AS: Quote, Profile, Research, Stock Buzz), maker of Douwe Egberts, a lift as it tries to overtake rival Kraft (KFT.N: Quote, Profile, Research, Stock Buzz) to become the second largest player in the coffee world.
It has the freedom and war chest to take on Kraft and emulate world No 1 Nestle (NESN.VX: Quote, Profile, Research, Stock Buzz) as it invests in its one-cup Senseo system, looks to expand outside Western Europe and perk up instant coffee output.
BRUSSELS/LONDON (Reuters) – Anheuser-Busch InBev’s (ABI.BR: Quote, Profile, Research) interest in buying the rest of Grupo Modelo (GMODELOC.MX: Quote, Profile, Research) is sparked by Mexico’s growing beer market, the potential for big cost savings and control of exports of Corona beer, but the Mexican brewer sounded cautious on Monday.
Mexico’s Modelo and Belgian based AB InBev, which has a 50.4 percent non-controlling stake in Modelo, said on Monday they are discussing expanding that relationship.
BRUSSELS/LONDON, June 25 (Reuters) – The combination of
Mexico’s growing beer market, big cost savings and control of
Corona beer exports have sparked Anheuser-Busch InBev’s
interest in a buyout of Grupo Modelo, but the
Mexican brewer sounded cautious on Monday.
Family-controlled Modelo confirmed Monday it was in talks
about expanding a relationship with the Belgian brewing giant,
but said in a statement it would be premature to speculate on
any outcome of the talks.
BRUSSELS/LONDON (Reuters) – Mexico’s growing beer market, big cost savings and control of Corona beer exports have attracted Anheuser-Busch InBev (ABI.BR: Quote, Profile, Research, Stock Buzz) towards a $15 billion buy out of Grupo Modelo (GMODELOC.MX: Quote, Profile, Research, Stock Buzz), sources said on Monday.
The deal would give AB InBev, the world’s largest brewer access to 2-3 percent annual growth in the Mexican market, make at least $250 million of synergies and win distribution rights to Corona, the largest U.S. imported beer brand.
CHICAGO/LONDON (Reuters) – Procter & Gamble Co took the blame on Wednesday for a lack of big new products and not being quick enough to cut costs as it deals with persistent slowing demand in Western Europe, the United States and China.
The world’s largest household-products maker cut its growth forecasts for a second time in two months on Wednesday, as expected, and said it did not expect to repurchase shares in the coming fiscal year as it tries to maintain its “AA-” credit rating.
LONDON (Reuters) – Slower growth in China and tough markets in Europe and the United States prompted Procter & Gamble (PG.N: Quote, Profile, Research, Stock Buzz), the world’s largest household product maker, to cut its growth forecasts on Wednesday in the midst of a $10 billion cost-cutting program.
The U.S. maker of Tide laundry detergent, Gillette razors and a host of other products also blamed the strong dollar and higher commodity costs for hitting growth after admitting it had struggled to grow operating profit over the past three years.