European consumer goods correspondent
David's Feed
Apr 23, 2012

SABMiller appoints Alan Clark CEO as of July 2013

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.

Apr 19, 2012

Big tobacco groups fear spread of plain packaging

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
profits growth.

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.

Apr 19, 2012

SABMiller boosted by emerging market thirst for beer

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.

Apr 18, 2012

Nestle near buying Pfizer’s baby formula – sources

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
on Wednesday.

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.

Apr 16, 2012

AmBev to buy control of Dominican brewer CND

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.

Apr 5, 2012

Drinks giant Diageo’s Africa growth to accelerate

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.

Apr 3, 2012

Molson Coors to buy StarBev for 2.1 billion pounds

By David Jones and Victoria Howley

(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.

Apr 3, 2012

Molson Coors to buy StarBev for $3.5 billion

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
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.

Mar 30, 2012

Asahi closing in on 1 billion pounds StarBev deal – sources

LONDON (Reuters) – Japanese brewer Asahi (2502.T: Quote, Profile, Research) is finalising the purchase of eastern European brewer StarBev from private equity owner CVC Capital Partners CVC.UL in a deal likely to be worth around $3 billion (1 billion pounds), people familiar with the matter said.

The two were hammering out the final details of a deal which could be announced as early as next week after Asahi was left as the only bidder, but the people said that the deadline was flexible and matters could still change.

Mar 30, 2012

Asahi closing in on $3 billion StarBev deal: sources

TOKYO/LONDON (Reuters) – Japanese brewer Asahi (2502.T: Quote, Profile, Research, Stock Buzz) is working to finalise the purchase of eastern European brewer StarBev from private equity owner CVC Capital Partners CVC.UL in a deal likely to be worth around $3 billion, said people familiar with the matter.

The two were hammering out the final details of a deal which could be announced as early as next week after Asahi was left as the only bidder in the race, but the people said that the deadline was flexible and matters could still change.

    • About David

      "I write on and co-ordinate coverage of European consumer goods companies from London. These include food groups such as Nestle, Unilever and Danone, drinks companies like Diageo, Heineken and SABMiller, and cigarette groups British American Tobacco and Imperial Tobacco. I have previously worked in Milan covering Italian financial news and before that specialised on the car industry and the engineering sector, and also have some experience of commodity coverage."
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