MUMBAI/LONDON (Reuters) – India’s United Spirits Ltd (UNSP.NS: Quote, Profile, Research, Stock Buzz) agreed to sell its Whyte & Mackay scotch whisky unit to Emperador Inc (EMP.PS: Quote, Profile, Research, Stock Buzz) in a 430 million pound ($729 million) deal that satisfies UK antitrust concerns and the Filipino company’s thirst for growth.
United must sell Whyte & Mackay after world whisky leader Diageo Plc (DGE.L: Quote, Profile, Research, Stock Buzz) took a controlling stake in the Indian spirits maker. Britain’s competition authority said Diageo’s Bell’s brand competes with Whyte & Mackay’s whisky and that the combination could stifle competition.
BAYREUTH, Germany, April 29 (Reuters) – British American
Tobacco expects compliance with new European regulation
on cigarettes to cost it 100 million to 200 million euros ($138
million-$277 million) over the next two years as it upgrades its
machines to meet new packaging rules.
The European Commission is implementing legislation known as
the Tobacco Products Directive (TPD) aimed at cutting down on
the estimated 700,000 EU citizens who die each year from
LONDON (Reuters) – Consumer goods giant Unilever opened its first European tea shop in London on Thursday, aiming to cash in on the growing appeal of unusual and luxury cuppas and ignite fresh enthusiasm for the national drink.
A new generation of Britons drink more coffee than tea since the arrival of the mighty Starbucks, and a host of imitators that now crowd high streets. But with Starbucks opening a tea bar in New York last October and talking about a $90 billion global market, the tide may be turning.
LONDON, April 24 (Reuters) – Unilever said
it may sell its underperforming Ragu pasta sauce and SlimFast
brands as it reported higher-than-expected first-quarter sales
on Thursday, led by strong sales in Northern Europe of personal
and household cleaning products.
The Anglo-Dutch maker of Ben & Jerry’s ice cream, Dove soap
and Lipton tea announced a strategic review of its North
American pasta sauce business, which includes the market-leading
Ragu brand, and the troubled SlimFast brand whose sales have
tumbled in its biggest market, the United States.
LONDON, April 21 (Reuters) – From chocolate and dumplings to
toothpaste, consumer goods companies are adapting to new
spending habits as incomes rise in emerging markets while
protecting profits in places where they can be volatile.
Packaging toothpaste into tiny tubes or moving more
manufacturing locally, consumer firms are cutting prices and
costs to make their wares more affordable and accessible to
people able to buy their products for the first time.
LONDON (Reuters) – As European policymakers consider action to stop a strong euro holding back jobs growth, companies across the continent say the currency’s strength is already eating into their profits.
Some of Europe’s largest companies including Danone (DANO.PA: Quote, Profile, Research, Stock Buzz), SAP AG (SAPG.DE: Quote, Profile, Research, Stock Buzz) and L’Oreal (OREP.PA: Quote, Profile, Research, Stock Buzz) have posted buoyant first-quarter sales volumes in the past week thanks largely to strong demand in emerging markets such as Brazil and in North America.
LONDON/PARIS, April 17 (Reuters) – Britain’s Diageo
and France’s Remy Cointreau reported steep sales
declines in China on Thursday, failing to revive a taste for
their luxury spirits more than a year after an anti-corruption
campaign first hit conspicuous consumption.
Diageo, maker of Johnnie Walker Scotch and Smirnoff vodka,
posted a 1.3 percent drop in third-quarter organic net sales,
versus market expectations for a 2 percent increase, according
to analysts. Sales slid 19 percent in Asia and saw weakness in
other emerging markets including Russia, South Africa and Kenya.
LONDON, April 16 (Reuters) – Consumer goods maker Reckitt
Benckiser Group stood by its 2014 financial targets on
Wednesday despite unusually weak sales of disinfectants and
signalled it was leaning toward spinning off its declining
The British company said a strategic review of Reckitt
Benckiser Pharmaceuticals (RBP) that it launched in October was
progressing well and that a “capital markets solution is
emerging as a strong option”.
LONDON, April 15 (Reuters) – Britain’s Imperial Tobacco
is shutting cigarette factories in England and France
with the loss of about 900 jobs as it grapples with declining
sales in Europe.
The maker of Gauloises and Davidoff cigarettes blamed the
closures on tough economic conditions, increased regulation and
taxes and growth in the illicit tobacco trade.
LONDON (Reuters) – SABMiller (SAB.L: Quote, Profile, Research), the world’s second-largest brewer by sales, posted a modest rise in full-year lager sales volumes following troubles in a number of African markets that have been fuelling growth for the past few years.
The London-listed company behind beers such as Miller Lite and Peroni also said on Tuesday it was reviewing its “non-core” holding, worth about $1 billion (597 million pounds), in South African hotel company Tsogo Sun Holdings (TSHJ.J: Quote, Profile, Research).