July 17 (Reuters) – Coca-Cola Co reported a
higher-than-expected quarterly profit on Tuesday, as rising
consumption of its drinks in emerging markets offset declines in
Europe, sending its shares up more than 2 percent.
The world’s largest soft drink company, maker of Sprite,
Minute Maid orange juice and vitaminwater, said second-quarter
sales volume rose 4 percent, with North America growing 1
percent and international up 5 percent.
BEIJING/NEW YORK, July 11 (Reuters) – A consumer watchdog in
China said on Wednesday that a testing centre had made mistakes
in reporting that some of Mead Johnson’s baby formulas contained
prohibited additives and expressed “deep regret” for the
erroneous findings that led to a sharp fall in Mead’s stock.
Shares of Mead Johnson Nutrition Co, maker of
Enfamil baby formula, fell as much as 8 percent on Tuesday after
Caijing, an influential Chinese business magazine, reported that
vanilllin, a compound found in vanilla beans, was found in some
of its baby formulas in central Hunan Province.
(Reuters) – International food giant General Mills Inc (GIS.N: Quote, Profile, Research, Stock Buzz) expects its prices to remain stable and stood by its forecast for cost inflation of 2 to 3 percent this fiscal year, despite a recent spike in corn costs.
“Consumers should see generally stable prices,” General Mills Chief Executive Ken Powell said in an interview on Tuesday. He added that the operating environment should improve as the year progresses, as easing commodity inflation lessens the need for price increases that often hurt sales.
(Reuters) – Campbell Soup Co (CPB.N: Quote, Profile, Research, Stock Buzz) plans to buy Bolthouse Farms for $1.55 billion in cash, adding refrigerated juices and baby carrots to its portfolio of soups and V8 vegetable drinks.
The deal is the latest example of packaged food and beverage companies expanding into healthier products. PepsiCo (PEP.N: Quote, Profile, Research, Stock Buzz) said Monday it will start selling yogurt in the United States this summer through a joint venture.
NEW YORK, July 3 (Reuters) – When most food company
executives talk about emerging markets, they mean countries like
China and India. For Hillshire Brands CEO Sean Connolly, the
exciting untapped market is something different — snack meat.
Hillshire Brands Co’s (HSH.N: Quote, Profile, Research) new chief executive is excited
about flavored sausages and snacks made with meat as he looks to
add “provocative” new items to his company’s lineup of cold cuts
and hot dogs.
(Reuters) – Constellation Brands Inc will buy the remaining half of its Crown Imports joint venture for $1.85 billion to get full control of distributing popular beers like Corona Extra and Modelo Especial in the United States.
Constellation shares jumped nearly 23 percent to their highest level in years on the news. The deal to buy out Grupo Modelo gives Constellation control of the best-selling imported beer in the lucrative U.S. market.
(Reuters) – General Mills Inc (GIS.N: Quote, Profile, Research, Stock Buzz) posted slightly higher-than-expected quarterly profit, but forecast full-year earnings below Wall Street estimates as it boosts investment in emerging markets and its North American Yoplait yogurt business.
In the just-ended fiscal fourth quarter, General Mills, which also makes Progresso soups and Cheerios cereal, said net income rose to $325.4 million, or 49 cents per share, from $320.2 million, or 48 cents, a year earlier.
June 25 (Reuters) – Anheuser Busch InBev (ABI.BR: Quote, Profile, Research) has yet to
swallow Mexican brewer Grupo Modelo (GMODELOC.MX: Quote, Profile, Research) but investors
are already speculating on what other deals may follow, starting
with the U.S. distribution rights for Corona and other beers.
Following news that AB InBev was in talks to buy out Modelo,
Constellation Brands Inc (STZ.N: Quote, Profile, Research) shares jumped as much as 14
percent on Monday — their biggest spike in nearly a decade –
on expectations that AB InBev would also buy Constellation’s
stake in Crown Imports. A 50-50 joint venture with Modelo, Crown
imports and distributes Modelo beers including Pacifico, Corona
and Modelo in the United States.
June 21 (Reuters) – ConAgra Foods Inc’s adjusted
quarterly profit narrowly beat Wall Street estimates as price
increases and easing commodity cost inflation boosted
performance in its consumer foods segment.
The company, which released results from its fiscal fourth
quarter on Thursday, also benefited from its recent acquisitions
of National Pretzel Co, Del Monte Canada, Odom’s Tennessee Pride
and the pita chip business of Kangaroo Brands.
NEW YORK (Reuters) – Green Mountain Coffee Roasters Inc (GMCR.O: Quote, Profile, Research, Stock Buzz) is facing new competitors in the U.S. single-serve coffee market even before some of its patents expire in September, suggesting pricing pressures could come earlier than analysts had expected.
U.S. supermarket chain Safeway Inc (SWY.N: Quote, Profile, Research, Stock Buzz) last week said it began to sell its own brand of filtered coffee pods that are compatible with Green Mountain’s Keurig brewers, but at prices below Green Mountain’s own K-Cups.