LONDON, Oct 16 (Reuters) – Alcoholic drink makers Diageo
and Remy Cointreau forecast improving sales
this year, as they navigate past problems in China and other
Asian countries that have been hitting them hard.
A Chinese government crackdown on extravagant spending has
slammed sales of Remy Martin cognac and Diageo’s ShuiJingFang, a
brand of the Chinese spirit baiju. At the same time, customers
in other Asian countries have been reducing inventory levels,
hurting the drinks companies more broadly.
LONDON (Reuters) – The management of water resources is the biggest climate-related issue facing makers of alcoholic drinks, a senior executive at Diageo told the Reuters Global Climate Change Summit.
“For us, water is key in terms of what can affect us from a climate change perspective,” David Cutter, Diageo’s president of global supply and procurement said at the summit on Wednesday, held at the Reuters office in London.
LONDON (Reuters) – Poor summer weather in China hit SABMiller’s (SAB.L: Quote, Profile, Research, Stock Buzz) lager sales in the second quarter, though higher prices and a jump in soft drink sales helped boost revenues at the world’s second biggest beer maker.
The brewer of lagers such as Peroni and Miller Lite has been trying to offset sluggish growth in developed markets with cost cuts, marketing drives and acquisitions, while also putting more emphasis on soft drink sales in emerging markets.
LONDON, Sept 23 (Reuters) – Tate & Lyle shares
tumbled to a three-year low after it cut its full-year profit
forecast, blaming fierce competition for its Splenda sweetener
and supply chain problems caused by a severe U.S. winter.
The British company, which sells ingredients to packaged
food and drinks makers, has had to renegotiate supply contracts
at lower prices to protect market share in the face of intense
MANILA/LONDON, Sept 18 (Reuters) – Filipino-owned tobacco
company Mighty Corp is in very preliminary talks with British
American Tobacco (BAT) about a possible distribution
partnership, a Mighty executive said on Thursday, as BAT seeks
to expand in Asia.
Mighty is the second-largest tobacco company in the
Philippines behind PMFTC Inc, a joint venture between a local
unit of Philip Morris International and local firm
Fortune Tobacco Corp.
LONDON, Sept 17 (Reuters) – Slovenian poultry producer
Perutnina Ptuj is exploring options including a sale that might
value the company at as much as 140 million euros ($181.44
million), sources familiar with the matter said.
The company, which has operations in Slovenia, Croatia,
Serbia, Macedonia and Bosnia and Herzegovina, sells poultry meat
and products such as chicken sausages. It had 2012 revenue of
261.8 million euros, according to its website.
LONDON (Reuters) – Offering an array of hot and cold single-serve drinks is central to the growth strategy of Mondelez International Inc’s (MDLZ.O: Quote, Profile, Research, Stock Buzz) European coffee business, which will soon merge with D.E Master Blenders 1753.
With regulatory approval expected in coming months, the merged business, to be called Jacobs Douwe Egberts, will continue to invest heavily in a single-serve coffee business able to compete better with Nestle’s (NESN.VX: Quote, Profile, Research, Stock Buzz) market-leading brands Nespresso and Dolce Gusto, said Roland Weening, president of coffee for Mondelez Europe.
LONDON/BRUSSELS (Reuters) – SABMiller’s (SAB.L: Quote, Profile, Research, Stock Buzz) rejected bid for smaller brewer Heineken (HEIN.AS: Quote, Profile, Research, Stock Buzz) has revived talk about deals that could reshape the global beer industry in coming months.
Dutch company Heineken said at the weekend that it had been approached by SABMiller about a takeover, but that it had rebuffed the approach because its controlling shareholder intended to keep it independent.
NEW YORK/LONDON (Reuters) – SABMiller (SAB.L: Quote, Profile, Research, Stock Buzz) shares surged to an all-time high on Monday on hopes a long-rumored takeover bid by the world’s largest brewer Anheuser-Busch InBev (ABI.BR: Quote, Profile, Research, Stock Buzz) may be getting closer.
SABMiller shares first rose 5 percent on news its bid for Heineken (HEIN.AS: Quote, Profile, Research, Stock Buzz), seen by some as a tactic to fend off AB InBev, had been rebuffed. SABMiller then leapt after a report that AB InBev was talking to bankers about funding a takeover.
LONDON/NEW YORK (Reuters) – As electronic cigarettes flew off shelves on both sides of the Atlantic in recent years, investors flocked to a business some hope will be the future for tobacco.
Now sales growth is slowing from a 2011 peak and private funds are more cautious about the smokeless devices, making it harder for independent e-cigarette firms to raise capital and hitting their share prices.