(Reuters) – Starbucks Corp (SBUX.O: Quote, Profile, Research, Stock Buzz) plans to acquire tea store operator Teavana Holdings Inc (TEA.N: Quote, Profile, Research, Stock Buzz) for $620 million in cash, furthering its push beyond its flagship coffee business.
Starbucks, the world’s largest coffee shop operator, said it will pay $15.50 per share in cash for Teavana, a 54 percent premium to the company’s closing price on the New York Stock Exchange on Tuesday.
MIAMI, Nov 14 (Reuters) – SABMiller Plc is brewing
strong growth in pockets of Latin America with non-alcoholic
malt drinks that expand the beer maker’s target audience beyond
adults and mark baby steps into a soft drink market dominated by
Coca-Cola and PepsiCo.
Malt drinks, which look like cola but have a strong bready
character, have been popular in Colombia and Venezuela for ages,
but are catching on quickly in other Latin American markets,
even as consumer spending is crimped in some markets by economic
(Reuters) – Home Depot Inc (HD.N: Quote, Profile, Research, Stock Buzz) reported a higher-than-expected quarterly profit on Tuesday and raised its full-year outlook as the world’s largest home improvement chain benefited from a recent uptick in the U.S. housing market.
The nascent recovery in housing has encouraged professional contractors to buy more in recent months. Home Depot has also gained from its own efforts to improve distribution, cut costs and localize marketing and merchandising.
(Reuters) – Dean Foods Co (DF.N: Quote, Profile, Research, Stock Buzz) on Thursday reported a better-than-expected quarterly profit and raised its full-year outlook as strong sales of soy milk and other products offset declines in its fresh dairy business, sending its shares up nearly 3 percent.
Dean, which spun off part of its business last month into WhiteWave Foods Co (WWAV.N: Quote, Profile, Research, Stock Buzz) and is weighing a sale of its Morningstar unit, said that Chief Financial Officer Shaun Mara and General Counsel Steve Kemps will leave the company after the end of the year to pursue other opportunities.
(Reuters) – Green Mountain Coffee Roasters Inc (GMCR.O: Quote, Profile, Research, Stock Buzz) announced the launch of Keurig Rivo, its long-awaited, single-cup espresso machine, on Thursday, sending its shares up more than 2 percent.
The Rivo, developed in partnership with Italy’s Luigi Lavazza SpA, will be able to make cappuccinos and lattes at home and go head-to-head with the Verismo system, which Starbucks Corp (SBUX.O: Quote, Profile, Research, Stock Buzz) launched last month.
(Reuters) – Kraft Foods Group Inc (KRFT.O: Quote, Profile, Research, Stock Buzz) and Mondelez International Inc (MDLZ.O: Quote, Profile, Research, Stock Buzz) both stood by their full-year 2013 forecasts on Wednesday in their first earnings reports as standalone companies following last month’s breakup.
Kraft, home to brands like Oscar Mayer lunch meat and Maxwell House coffee, said it was working to better tailor its product portfolio to a weak economy in North America, the only region in which it now operates.
(Reuters) – Molson Coors Brewing Co (TAP.N: Quote, Profile, Research, Stock Buzz) warned on Wednesday that the current quarter would be the most challenging of the year, with higher costs, increased spending and weak economic conditions, and the beer maker’s shares fell 3.7 percent.
The share decline outpaced that of the wider market, which was down more than 2 percent a day after the re-election of President Barack Obama. Comments by the European Central Bank president weighed on market sentiment.
Nov 7 (Reuters) – Kraft Foods Group Inc stood by
its full-year outlook on Wednesday as it works to better tailor
its product portfolio to a weak economy in North America, the
only region the newly independent company now operates in.
Kraft was spun off last month from the maker of Cadbury
chocolates and Oreo cookies, which goes by the name of Mondelez
International. Unlike Mondelez, which gets some 45
percent of its sales from developing markets, Kraft is focused
on slower-growing North America.
NEW YORK/WASHINGTON (Reuters) – Some U.S. craft brewers are uneasy about plans by Anheuser-Busch InBev (ABI.BR: Quote, Profile, Research, Stock Buzz) to buy out Mexican beer maker Grupo Modelo (GMODELOC.MX: Quote, Profile, Research, Stock Buzz), fearing the giant’s increased power could make it harder for them to hitch a ride on delivery trucks to stores and pubs.
Brewers, as well as beer wholesalers and members of Congress, have been quietly taking this concern and others to the Justice Department, which is investigating whether the $20.1 billion deal complies with antitrust law. The department has given no sign of being ready to make a decision.
NEW YORK, Oct 31 (Reuters) – New York City commuters endured
hours-long bus trips and bumper-to-bumper traffic on Wednesday
as the city struggled to fix a crippled subway system and get
back to business in the wake of mega-storm Sandy.
Even with many people staying home for a third consecutive
day, New York-area commuters grappled with clogged streets. Some
bicycled to work. Some walked across the Brooklyn Bridge. Others
gave up altogether and turned back home after waiting in vain
for packed buses to take on more passengers.