LONDON/BEIJING (Reuters) – The rise of the middle-class Chinese working mother helps explain why Nestle paid nearly $12 billion for Pfizer’s baby food business and could leave rivals scrambling to catch up.
Across emerging markets, nowhere more than in China, women are increasingly keeping jobs after having children — a big driving force behind 10 percent annual growth in the $30 billion a year baby food industry.
LONDON, April 24 (Reuters) – Associated British Foods
forecast a “substantial” rise in full-year profits as
under-pressure British shoppers turned to its Primark discount
fashion stores and it benefited from high sugar prices to fuel a
5 percent half-year earnings rise.
The London-based food and retailing group expects growth to
pickup in its second half helped by falling cotton prices at
Primark although it saw no help coming for its businesses from
currently depressed Western European economies.
LONDON (Reuters) – Global brewer SABMiller (SAB.L: Quote, Profile, Research, Stock Buzz) said its European chief Alan Clark will succeed long-standing Chief Executive Graham Mackay in July 2013 in series of top management changes that will see the 62-year old Mackay take over as chairman.
The move appears to fly in the face of the UK corporate governance code which suggests that chief executives should not go on to become chairman of the same group, although the code does say this can be allowed if the company consults its shareholders and sets out clearly the reasons for its decision.
LONDON, April 19 (Reuters) – The world’s top tobacco groups
fear if new rules on plain packaging take hold in Australia and
Britain they may spread to higher growth and potentially more
lucrative emerging markets and put a curb on their future
Health campaigners are pushing for tobacco companies to
package their cigarettes in plain packs displaying the product
name in a standard typeface and with graphic health warnings as
a way of discouraging youngsters from taking up smoking.
LONDON, April 19 (Reuters) – Global brewer SABMiller Plc
reported a 3 percent rise in underlying beer
volumes in the first three months of 2012, as growth in the
emerging markets of Latin America, Africa and Asia offset
declines in Europe and North America.
The world’s No.2 brewer and maker of Miller Lite, Castle and
Peroni beers added on Thursday beer volumes at its
newly-acquired Australian business Foster’s dipped 4 percent in
the first three months of ownership in a tough domestic market.
LONDON, April 18 (Reuters) – Nestle, the world’s
biggest food group, is closing in on a deal to buy Pfizer’s
infant nutrition business for up to $10 billion to boost
its business in China and extend its lead in the world of
formula milk for babies, sources familiar with the matter said
The Swiss group had already been seen as favourite for the
business, and is now set to seal a deal later this month after
outbidding a joint team of Danone and Mead Johnson
in a largely two-horse race.
April 16 (Reuters) – Anheuser Busch InBev’s
Brazilian unit AmBev agreed to buy a roughly 51
percent stake in the Dominican Republic-based brewer Cerveceria
Nacional Dominicana (CND) for over $1.2 billion, forming the
biggest beverage company in the Caribbean.
The world’s biggest brewer, with brands like Budweiser and
Stella Artois, said AmBev is paying about $1 billon for a 41.76
percent stake in the maker of Presidente beer from majority
shareholder E. Leon Jimenes, which itself owns 83.5 percent of
CND, the largest brewer in the Dominican Republic.
LONDON (Reuters) – British drinks giant Diageo (DGE.L: Quote, Profile, Research) expects its annual growth in Africa to accelerate beyond the current 15 percent, helped by its zero-duty Senator keg beer in Kenya and a strong rise in Johnnie Walker and Smirnoff spirit sales.
Africa is Diageo’s biggest emerging market region and vies with Latin America to be its fastest-growing, as economic growth accelerates in much of the continent and with its population of one billion set to double by 2050.
(Reuters) – North American brewer Molson Coors (TAP.N: Quote, Profile, Research) pipped close rival Asahi (2502.T: Quote, Profile, Research) on Tuesday to buy east European brewer StarBev from CVC Capital Partners CVC.UL for 2.65 billion euros (2.1 billion pounds) in what analysts said was a high-priced deal.
The sale process had narrowed to a two-horse race in the last week, but early front runner, Japan’s Asahi, had only been prepared to pay up to $3 billion for the business, people close to the deal said.
April 3 (Reuters) – North American brewer Molson Coors
pipped close rival Asahi on Tuesday to buy east
European brewer StarBev from CVC Capital Partners for
2.65 billion euros ($3.5 billion) in what analysts said was a
The sale process had narrowed to a two-horse race in the
last week, but early front runner, Japan’s Asahi, had only been
prepared to pay up to $3 billion for the business, people close
to the deal said.